The DBPR is in charge of licensing and regulating real estate and all other businesses that require licensing. Certified Insurance Consultant, Which of the following statements is false regarding hearings? Which policy component fluctuates depending on the policy type? 9. AzAnswer team is here with the right answer to your question. D. It may be necessary for transacting business in a specific state. Your email address will not be published. (The originating company that procures insurance on itself in another insurer is called the "Ceding insurer." The problem is immediately reported back to you. A. Which of the following is the closest term to an "authorized" insurer? People who have the A antigen normally would not produce the anti-A antibody. 3-Real Estate License Law and Commission Rules. A. Who among the following would be exempt from a written examination? (Co-written with and signed by fourteen other VIPS listed below) MEMORANDUM FOR: U.S. Secretary of State John Kerry, and Foreign Minister of Russia Sergey Lavrov FROM: Veteran Intelligence Professionals for Sanity (VIPS) SUBJECT: Sarin Attack at Ghouta on Aug. 21, 2013 In a Memorandum of Oct. 1, 2013, we asked each of you to make public the intelligence upon which you based your differing . Which authority is NOT stated in an agent's contract but is required for the agent to conduct business? C. Being liable with respect to payment of claims. 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All of the following are examples of risk retention EXCEPT (Retention is a planned assumption of risk, or acceptance of responsibility for the loss by an insured through the use of deductibles, copayments, and self-insurance.). C. The application given to a prospective insured. PowerShell: PowerShell cmdlets report this error as MutuallyExclusiveViolation. You must remove all licenses assigned to a group before you can delete the group. A. the word carries the same meaning in both the English and German languages. B. BIt is equivalent to an insurance license. copyright 2003-2023 Study.com. Depending on what steps you've taken to resolve the errors, it might be necessary to manually trigger the processing of a group to update the user state. What you need. A) XYZ must issue the policy. An applicant for a producer license must provide evidence of legal liability coverage for an amount of least: $20,000. Real Estate Client vs. The designation will be void/. Agents may handle applications and assist applicants providing the applicant has tried to secure coverage with a standard insurer and certifies that he/she was unable to obtain such coverage, With regard to the Dwelling Endorsement, DP 01 06, which of the following statements is false? D is the correct answer because a suicide clause is usually inserted into a policy when issued on a mortgage loan and the misstatement of one's age makes no difference because the initial rate is . A binder cannot exceed 60 days, After a personal policy has been in effect for 60 days, the policy may not be cancelled: Which of the following statements is false with respect to license renewals? If after a hearing, the Commissioner determines that an individual is in violation of insurance law, a copy of the findings and a Cease and Desist Order will be issued a. \hline 2009 & 0.15 & 3.26 \\ Real Estate Express & Implied Agency | What are Express & Implied Agency? Consolidated net revenue increased 23% in Full Year 2022 compared to Full Year 2021; on a constant currency basis consolidated net revenue increased 28% in Full Year 2022 compared This option offers more flexibility. Azure AD will retry processing the user license and will resolve the issue. Acceptance takes place when an insurer's underwriter approves the application and issues a policy.). Which of the following individuals must have insurable interest in the insured? An insured purchased an insurance policy 5 years ago. Which of the following is NOT true regarding a Certificate of Authority? Select the notification to open a list of all affected users. Permitting individuals of the same class and equal life expectancy to be charged different rates for life insurance or annuities is an example of what type of unfair trade practice? Problem: There aren't enough available licenses for one of the products that's specified in the group. To properly obtain a group license, Braggs and his associates need to do a few things. 50,000 . Which of the following is NOT an unfair claims practice? An example is if there aren't enough licenses for all, or if there are conflicts with other services that are enabled on the user. (A warranty in insurance is a statement guaranteed to be true. Consider the following example. A licensed sales associate will be locked into work at only one development if no multiple licensing exists. (Perils are the cause of loss insured against in an insurance policy.). Constructive Notice in Real Estate Overview & Law | What is Constructive Notice? What else must he include? Answer:A. A. 7 Miscellaneous Personal Lines Coverage, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. If an agent fails to promptly remit the premiums collected from the insured to the insurer, the agent may be found guilty of which of the following? With respect to dependent handicapped children, which of the following is incorrect? It is intended to provide coverage on a date earlier than the date of the issuance of the policy. Maria Juarez is a professional tennis player, and your firm manages her money. A. C. It is equivalent to an insurance license. Term. Plus, get practice tests, quizzes, and personalized coaching to help you D Commingling premiums with agent's personal funds. A handicapped dependent child may be covered under a parent's policy up to age 30. For example, if you use both Office 365 Enterprise E1 and Office 365 Enterprise E3 for your users, you can create two groups to license Microsoft Workplace Analytics: one that uses E1 as a prerequisite and the other that uses E3. Which of the following would help prevent a universal life policy from lapsing? Problem: One of the products that's specified in the group contains a service plan that conflicts with another service plan that's already assigned to the user via a different product. A user has a license for Office 365 Enterprise E1 assigned directly, with all the plans enabled. Under Licensed users, you see a list of all users who have had licenses assigned directly or via one or more groups. Representations are statements that are true to the best of the applicant's knowledge.). To learn more about other scenarios for license management through groups, see the following: More info about Internet Explorer and Microsoft Edge, "Proxy address a. It was released as the second single from the album in 2005. In case of a loss, the indemnity provision in insurance policies does what? The license fee could be based on a percentage of final sales revenue of the product, or the number of units sold. C. It is issued to group insurance participants. No real estate sales license is needed for the owner or developer. Calculate and interpret the sample correlation coefficient. Please select the correct language below. Which of the following statements is true regarding a plumber who has been appointed by a court to appraise a small business? All of the following are marketing arrangements used by insurers EXCEPT An insured committed suicide one year after his life insurance policy was issued. The concepts I have learned in this course will not only help me in my future work, but have also given me extremely useful life knowledge to apply to my per Insurance contract special characteristics they are conditional contract, a contract involving fortuitous evens and the exchange of unequal amounts, a contra Lindell, Perry and Prater define risk as the possibility that personnel, property or resources could be impacted in a negative way (2007). b. c . 1 to part 740 of the EAR): ( i) License Exception LVS ( 740.3 of the EAR); ( ii) License Exception TMP ( 740.9 of the EAR); Considered true to the best of the applicant's knowledge. They will demonstrate successfully that they are using best practise to avoid. B. Which of the following terms best describes what the insurer has violated? It is issued to group insurance participants. Redlining, Blockbusting & Steering: Definition & Differences, General Agent vs. Universal Agent in Real Estate | Overview, Differences & Similarities, Accretion, Avulsion & Reliction: Definition & Effects. Agents have binding authority D. Something of value exchanged between parties. Which of the following statements is NOT correct concerning policy loans? b. Make sure that the group has necessary services before adding or removing a dependent service. Which of the following is the basis for a claim against an insurance policy? A reinsurer is a company that. Which of the following is TRUE regarding the interest earned on these investments? What does "liquidity" refer to in a life insurance policy? In reference to fixed annuities, what comprises most of a life insurance company's general account? Can a broker hold multiple real estate licenses? Series 6: Multiple choice questions (choose the best statement) Exercise 1. Best Answer. You can select each group for more details. Twin brothers are starting a new business. A corporation that holds an insurance producer license may act as an insurance producer without an appointment by an insurer, Which of the following is true with regard to binders? A long-term care policy must be optionally renewable. \text { 3-Month } \\ 20 days of the change c. 60 days of the change d. 10 days of the change, Which of the following is NOT a purpose of the rule regarding replacement of life insurance? Which of the following best describes annually renewable term insurance? What privilege does the insured have in order to balance this order? A group license is done so that an owner or developer can move sales personnel around to different developments to sell homes or condos. must be issued in favor of people of Illinois, and must be continuous from and for amount equal to 5% of the premium brought the previous years, not to exceed? a. Construct and interpret a scatterplot of a 10-year treasury yield against a 3-month yield. D Material control. You can select each user individually to see more details. This rider is available to all insureds with no additional premium. When transacting business in this state an insurer formed under the laws of another country is known as a/an (Alien insurer is defined as an insurer formed under the laws of another country.). A master policy purchased by a condominium association, With respect to failure to remit premiums, which of the following statements is false? Let's consider the following example: Microsoft Workplace Analytics is an add-on product. You can assign more than one product license to a group. Insurance is a contract by which one seeks to protect another from (Insurance will protect a person, business or entity from loss.). Losses are payable within 10 days of receipt of proof of loss The service Microsoft Workplace Analytics requires Exchange Online (Plan 2) to be enabled as well.". Answer: A. a. An advantage of owning a flexible premium life insurance policy would be. The commission are not permitted to impose imprisonment as a penalty, but can refer a case to a criminal court, where the outcome can be imprisonment. Katy's license expired on September 30th. Which of the following insurers are owned by stockholders who have the usual rights of ownership, including the right of voting? Instead, they're recorded on the user object and then reported via the administrative portal. Or, you need to modify the entire group license assignment and disable the plans in the E3 license. a. accepts all the risk from another insurer. Fungi, Wet Rot or Dry Rot; Virus or Bacteria; Electrical Apparatus, Consequential losses, steam apparatus, frozen plumbing, dishonesty, pollution, and neglect are excluded, The Insurance Commissioner is: The trust that a client places in the producer in regard to handling premiums. It is issued to group insurance participants. Why does making this change in calculating GDP provide a truer picture of the size of Nigerias economy? What is the advantage of reinstating a policy instead of applying for a new one? Which of the following statements about network economics is not true? By the end of 2021, at least 130 bills had been introduced in 33 states to restrict the rights of transgender people. Enrolling in a course lets you earn progress by passing quizzes and exams. SPH DARWIN journals are members of the Committee on Publication Ethics . A spouse was granted a temporary license for her deceased husband's agency on March 1. c. The number of finished units actually completed this period. \hline 2001 & 3.47 & 5.02 \\ For example, this can happen when you remove the user from the group. c. the policy owner can make policy changes without difficulty. What is group-based licensing in Azure Active Directory? These frequently asked SQL questions are given with the correct choice of answer among multiple options. It may be necessary for transacting business in a specific state. This is an example of: All of the following actions by a person could be described as risk avoidance EXCEPT (Investing in the stock market is not an example of risk avoidance; it creates the possibility of a loss.). A. It is an equivalent of insurance license. While the Fed controls short-term interest rates, long-term interest rates essentially depend on supply/demand dynamics, as well as longer-term interest rate expectations. passing laws to regulate the transfer of property. C. To increase control of claim reserving the claims settlements. Which of the following is false regarding financial requirements applicable to insurers in Connecticut? C. An insurable risk must involve a loss that is definite as to cause, time, place and amount. A. What type of insurance would be used for a Return of Premium rider? Which of the following is NOT true regarding a Certificate of Authority? Problem: User has LicenseAssignmentAttributeConcurrencyException for license assignment in audit logs. PowerShell: PowerShell cmdlets report this error as DependencyViolation. A live proctor will monitor you. What is the purpose of a conditional receipt? Name some factors that can cause a shift in the demand curve in markets for goods and services. Issued insufficient coverage to a customer through apparent authority Bob is the agency owner, and all of his real estate transactions are performed through the agency's business license. This doctrine provides that an employee will pay taxes once he/she begins receiving economic benefits of an insurance-funded plan. C. forces corn prices down. B. Insurers are liable for any loss resulting from the insured's being under the influence of any narcotic if: Such narcotic is administered on the advice of a physician. Required fields are marked *. A. (c) a violation of FS 475. Upgrade to Microsoft Edge to take advantage of the latest features, security updates, and technical support. Equal to. A. (Only stock insurance companies are owned and controlled by stockholders.). Which statement below is NOT correct regarding a highly available system? (The principal grants authority to an agent through the agent's contract.). d. evidence of insurability is required with any change in premium. CIt is issued by the state department of insurance. When would a 20-pay whole life policy endow? The original age is used for premium determination. C. Offering additional coverage to his client. The number of units introduced into the process this period. . Benefits are 50% of the difference when an employee becomes partially incapacitated as the result of injury b. Draw a graph to illustrate your answer. If the agent writes a policy for XYZ, which of the following would apply? Which of the following best describes taxation during the accumulation period of an annuity? It provides income the beneficiary cannot outlive. This year, she did not receive a check from the insurer. How does this z-score compare with the z-score you calculated before? The following sections give a description of each potential problem and the way to resolve it. In this example, the conflicting service plans are: To solve this conflict, you need to disable one of the plans. TESTS FOR PROTEINS (PRINCIPLES) (Biochem L, Chapter 12 Exam - Individual Policy Provisions, Chapter 7 Exam - Federal Tax Considerations a, Chapter 6 Exam - Markets and Social Security, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition, 2015 Missouri State FFA Forestry Contest Gene, Civil Rights, Parties and Political Campaigns. Estate for Years: Overview & Examples | Estate for Years in Real Estate Definition, How the Statute of Frauds Applies to Real Estate Transactions. (c) Th; Which of the following is not a true statement? A group license is: 1) Used for large real estate brokerages 2) Allows licensees to work for various properties owned and developed by the same individuals(s), although the properties are owned in the name of different interlocking or affiliated entities 3) Allows brokers to be the broker of record for more than one real estate brokerage 4) Is available when a licensee chooses not to have an . 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Which of the following would be considered a nonmedical insurance application? The premium amount paid at the time of application. Which of the following is NOT a type of whole life insurance? As a member, you'll also get unlimited access to over 88,000 The partnership is liquidating. A limited lines producer is authorized to sell all of the following, except: Which of the following statements is false? \hline 2002 & 1.63 & 4.61 \\ All other factors being equal, what would the premium be like in a survivorship life policy as compared to the premium in a joint life policy? X, Y, and Z are partners. The interest credited under this option is not taxable since it remains inside the insurance policy. For example, there might be an insufficient number of licenses or a conflict between two service plans that can't be assigned at the same time. Before you can assign a license to a user, you must specify the Usage location property for the user. If a user has a license that is dependent on a license which is being removed due to group deletion, the license assignment to the user is converted from inherited to direct. Which of the following statements are correct? He wanted to have the flexibility to move sales associates and broker associates to each of his many developments. A. AIt may be necessary for transacting business in a specific state. Rising feed prices are also hitting the livestock and poultry industries. Certified Insurance Consultant, What is the notice requirement if an insurer is not renewing an auto policy? B. to English speakers, angst means an extreme state of anxiety experienced because of social isolation and loneliness. a. premiums are fixed for the first 5 years. \hline 2010 & 0.14 & 3.21 \\ The agent puts up a sign with the insurer's logo without express permission. Physical units that were completed this period from all effort being applied to them. Police Power in Real Estate Significance & Examples | What is Police Power? What is the status of her license on October 1, if she fails to meet renewal requirements? Insurers may examine and audit an insured's records relating to this coverage for up to 3 years after a policy period expires Insurers must acknowledge the receipt of a notice of a claim within: Which of the following is correct regarding a temporary license? The Graphics Interchange Format (GIF; / f / GHIF or / d f / JIF, see pronunciation) is a bitmap image format that was developed by a team at the online services provider CompuServe led by American computer scientist Steve Wilhite and released on June 15, 1987. A group license is much different than holding multiple licenses. Give some examples of transactions that would be recorded in the Other Accounts CR column of the cash receipts journal. Click the card to flip . (Insurers use reinsurance to protect themselves from catastrophic losses. | 21 Question: Which of the following is true regarding Article 2 of the Uniform Commercial Code (UCC)? This lets you distribute the add-on to E1 and E3 users without consuming additional licenses. This website helped me pass! Only the following license exceptions may be used to export "600 series" items to destinations other than those identified in Country Group D:5 or Hong Kong (see Supplement No. The contribution is known and the benefit is unknown. B. Which of the following is a correct statement about group real estate licenses in Florida? It is an equivalent of insurance license. A buy-sell agreement is simply a contract that establishes what will be done with a business in the event that an owner dies. Multiple licenses give the broker the ability to hold the title of broker at numerous real estate agencies at the same time. This person cannot be a sales associate or a broker associate. D. group credit insurance must have a suicide clause and a misstatement of age clause. From the Profile blade, modify the usage location. t. e. In the United States, the rights of transgender people vary considerably by jurisdiction. Which nonforfeiture option provides coverage for the longest period of time? In a life settlement contract, who does the life settlement broker represent? To see if there is a duplicate proxy address, execute the following PowerShell cmdlet against Exchange Online: For more information about this problem, see "Proxy address Lien Theory State vs. [1] In 2022, over 230 anti-transgender bills were introduced in state legislatures in a coordinated national campaign to target . The policy contains sufficient cash value to cover the cost of insurance. For example, Bob ''The Condo King'' Perlman owns and works at Bob's Big Time Condo Sales, Inc. located in Fort Lauderdale, Florida. a. Which of the following statements is an accurate comparison between private and government insurers? An insurance producer cannot act as an insurer's agent unless that producer becomes appointed with the insurer 4. Braggs himself does not require any permit to sell his properties. Assigning licenses to a group in Azure Active Directory, How to migrate individual licensed users to group-based licensing in Azure Active Directory, How to migrate users between product licenses using group-based licensing in Azure Active Directory, Azure Active Directory group-based licensing additional scenarios, PowerShell examples for group-based licensing in Azure Active Directory.