Considered true to the best of the applicant's knowledge. b. A Development of standards. With regard to financial examinations by the Commissioner, the Commissioner: Must conduct a financial examination of an insurer at least once every 5 years. The number of policy cancellations by policyholder. Before you can assign a license to a user, you must specify the Usage location property for the user. Within how many days must a licensee inform the FREC of their change of business address? . a. premiums are fixed for the first 5 years. Question: Which of the following is NOT true about licensing? - Chegg C. Rapid elasticity. Your boss has prepared some questions for you to consider. 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You're Beautiful Guitar Cover Acoustic - James Blunt |Tabs + Chords| FREE Chord & Songwriting Guitar eBook - https://www.guitarzero2hero.comWelcome to . Act to protect the best interests of authorized insurers. A group license is done so that an owner or developer can move sales personnel around to different developments to sell homes or condos. a. at least 60 The day's most visible group was Mothers Demand Action, members of which crowded the halls in a sea of red as they advocated lawmakers for gun control measures. C. The agent accepts a premium payment after the end of the grace period. The agent puts up a sign with the insurer's logo without express permission. While removing license assignments from a group, there can be failures if user has a dependent license assigned or if there is a proxy address conflict issue which prohibits the license removal. References: Which of the following statements is incorrect regarding boards of A long-term care policy must be optionally renewable. Please check below to know the answer. There is a specific section of the DBPR website where the sales associate and the developer complete the necessary forms. Which of the following correctly describes an Apprentice Adjuster's license? This memorandum surveys U.S. economic sanctions and anti-money laundering ("AML") developments and trends in 2022 and provides an outlook for 2023. A. is already being used" error message in Exchange Online, how to connect to Exchange Online by using remote PowerShell, how the proxyAddresses attribute is populated in Azure AD. b It applies to bonds, information, and other intangibles. Which of the following is true? Transcribed image text: Question 1 (1 point) Which of the following statements is NOT correct regarding markets? Flashcards - Ch. 4 - Type of Insurance Policies - FreezingBlue (b) legal if the brokers have multiple licenses. A. Courts will interpret any ambiguity in and insurance contract (Insurance policies are contracts of adhesion. a. t. e. In the United States, the rights of transgender people vary considerably by jurisdiction. It provides income the beneficiary cannot outlive. Which of the following are the authorities that an agent can hold? 2003-2023 Chegg Inc. All rights reserved. 30 days, Which of the following types of policies may NOT exclude coverage for losses caused by fire or other perils resulting from acts of terrorism? Browse Covers | YourCover backing tracks in MP3 format. Real Estate Express & Implied Agency | What are Express & Implied Agency? What method do insurers use to protect themselves against catastrophic losses? Which of the following are part of the legal responsibility of maintaining an insurance license? 9. | 21 On the "Group type" page, select Microsoft 365, then click Next. Multiple licenses give the broker the ability to hold the title of broker at numerous real estate agencies at the same time. An insurer invests the money it receives from premiums paid by its insureds. Which of the following statements is true regarding a plumber who has been appointed by a court to appraise a small business? Licensees that are members of the armed forces have all renewal fees, dues, continuing education, and other requirements waived during military service for how long? What is the term for the entity that an agent represents regarding contractual agreements with third parties? Add to folder It is issued to group insurance . To unlock this lesson you must be a Study.com Member. A reinsurer is a company that. For one, a group license applies to an owner or developer who builds homes or other housing and utilizes sales associates to sell the properties. C. To increase control of claim reserving the claims settlements. $4,500, With regard to the FAIR Plan, which of the following is false concerning agents? Which statement regarding insurable risks is NOT correct? 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 . To apply for multiple licenses, the broker must file with the Department of Business and Professional Regulations, or the DBPR, who is in charge of licensing and regulating real estate and all other businesses that require licensing. Answer: . Serve to extend the knee c. Covered by the vastus fascia d. Located in anterior compartment of the thigh 10. BIt is equivalent to an insurance license. D Material control. group coverage IS NOT . (b) They may be loosely tied together in a committee. A. What else must he include? Multiple Licenses vs. Group Licenses in Florida Real Estate Under a straight life annuity, if the annuitant dies before the principal amount is paid out, the beneficiary will receive What is the maximum fine for violating a cease and desist order? To be able to shift sales staff around, Braggs would have to apply for a group license for his sales staff. If a court ordered payment for a loss that was not covered in the policy even if it was clearly worded, it would be an example of which legal concept? Failure to remit premiums may result in the suspension of the producer's license, A person may procure insurance with any insurance company that does not hold a Certificate of Authority if such insurance: What does "liquidity" refer to in a life insurance policy? 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. B. (Perils are the cause of loss insured against in an insurance policy.). A. A. . Which of the following is NOT true regarding a Certificate of Authority? Which authority is NOT stated in an agent's contract but is required for the agent to conduct business? A. How does this z-score compare with the z-score you calculated before? This insurance provides financial protection against physical damage and bodily injury resulting from traffic collisions. Net Listing in Real Estate: Concept & Examples | What Is a Net Listing? What is a real estate broker sales associate. A person willfully acting without an insurance license in Iowa may be fined up to: Answer: $50,000.. Which of the following is a feature of a variable annuity? This doctrine provides that an employee will pay taxes once he/she begins receiving economic benefits of an insurance-funded plan. B. D. Promptly forwarding premiums to the insurance company, audio not yet available for this language, {"cdnAssetsUrl":"","site_dot_caption":"Cram.com","premium_user":false,"premium_set":false,"payreferer":"clone_set","payreferer_set_title":"General Insurance Exam Simulator","payreferer_url":"\/flashcards\/copy\/general-insurance-exam-simulator-5554536","isGuest":true,"ga_id":"UA-272909-1","facebook":{"clientId":"363499237066029","version":"v12.0","language":"en_US"}}. Please select the correct language below. The other insurer is called the "Assuming insurer.". Any other documentation relevant to the correction. A. Which of the following statements is false with respect to license renewals? Azure AD attempts to assign all licenses that are specified in the group to each user. A. To change information on your vehicle title, you need: Certificate of title (original only, no copies) A completed title amendment form. Therefore, answer B is more close to it. a) toxicant. Which of the following is false regarding financial requirements applicable to insurers in Connecticut? Question: Which of the following is true regarding Article 2 of the Uniform Commercial Code (UCC)? a. What type of insurance would be used for a Return of Premium rider? B. When would a 20-pay whole life policy endow? An insured purchased an insurance policy 5 years ago. A temporary license may be issued to the surviving spouse of a disabled or deceased producer Exchange Online (Plan 2) conflicts with Exchange Online (Plan 1). The policy contains sufficient cash value to cover the cost of insurance. Your client's employer does not offer a company-wide annuity contract. d. The number of units that could have been started and completed given the cost incurred. PowerShell: PowerShell cmdlets report this error as DependencyViolation. B. Real Estate Client vs. All rights reserved. Transgender rights in the United States - Wikipedia 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 . It is issued by the state department of insurance. An agent tells an insured that if he replaces his current insurance policy with a newer one, his dividends will be higher and his premium will be slightly lower. To be considered as part of an organization's market, customers must be considered qualified to make a purchase. Last year, she received a dividend check from the insurance company that was not taxable. That's when several brokers approached Bob about holding multiple licenses. The article also includes information on how to connect to Exchange Online by using remote PowerShell. 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. B. b) toxin. The license fee could be based on a percentage of final sales revenue of the product, or the number of units sold. Acceptance takes place when an insurer's underwriter approves the application and issues a policy.). A participating insurance policy may do which of the following? You can see the users who failed to get assigned and check which products are affected by this problem. (a) legal if the sales associate has a group license. If a cease and desist order is violated the penalty may be up to $25,000 per violation, What is the minimum amount of notice an insurer must provide to a policyholder in advance of canceling a personal policy for nonpayment of premium? Add-ons require a prerequisite service plan to be enabled for a user or a group before they can be assigned a license. It may be necessary for transacting business in a specific state. A binder cannot exceed 60 days, After a personal policy has been in effect for 60 days, the policy may not be cancelled: C. The application given to a prospective insured. Benefits are 75% when an employee becomes totally incapacitated as the result of injury, With regard to aftermarket parts regulation, which of the following statements is false? When Azure AD attempts to assign a group license to a user whose usage location isn't supported, it fails and records an error on the user. The insurable risk needs to be statistically predictable. lessons in math, English, science, history, and more. B. If you need assistance, please submit your question by, Department of Business and Professional Regulation Page. 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. B. Which type of life insurance is written with a face amount of $3,000 or less? C) If issued by the company, the company would be fined up to 3 times the premium received. Series 6: Multiple choice questions (choose the best statement) Exercise 1. Replacement parts to be used that are not manufactured by the original manufacturer may not be used D. Something of value exchanged between parties. We fully adhere to its Code of Cond B. Have a great time ahead. If Azure AD can't assign one of the products because of business logic problems, it won't assign the other licenses in the group either. d. the rate of return on a policy. B. Braggs did not want to lock each sales associate into one single development. Income tax on distributions and no penalty. What is a real estate group license? Select the notification to open a list of all affected users. I would definitely recommend Study.com to my colleagues. The duration of a temporary license may not exceed 90 days, Which of the following statements is NOT correct concerning Certificate of Authority? Property of others that is in the insured's care is excluded, Which of the following statements is correct with respect to acting as an agent? It can the be used to license only selected users for the add-on product. A limited lines producer is authorized to sell all of the following, except: Which of the following statements is false? 3. d. It involves slightly more risk to the licensee than licensor. SQL MCQ (Multiple Choice Questions) - javatpoint Study with Quizlet and memorize flashcards containing terms like Which of the following is NOT true regarding a Certificate of Authority? What is the purpose of a conditional receipt? A spouse was granted a temporary license for her deceased husband's agency on March 1. Problem: Some Microsoft services aren't available in all locations because of local laws and regulations. The DBPR is in charge of licensing and regulating real estate and all other businesses that require licensing. We're . Participate in the planning and implementation of laboratory exercises and experiments; implement new or modified policies and procedures . Sales associates and broker associates register their licenses under that number and then can begin working for the developer. Insurers are required to file a statement with the Superintendent What is the tax consequence of amounts received from a Traditional IRA after the money was left in the tax-deferred account by the beneficiary? Enrolling in a course lets you earn progress by passing quizzes and exams. 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. A sales associate may not be licensed or registered under a trade name. Who among the following would be exempt from a written examination? Get unlimited access to over 88,000 lessons. "You're Beautiful" on YouTube [a] " You're Beautiful " is a song by English singer-songwriter James Blunt. After you resolve any proxy address problems for the affected users, make sure to force license processing on the group to make sure that the licenses can now be applied. All costs are controllable at some level within a company. To find all groups that contain at least one error, on the Azure Active Directory blade select Licenses, and then select Overview. Which of the following statements is true regarding a work group? Producers of broker Insurance must build a bond along with the application for license. Which of the following is an example of an agent's fiduciary responsibilities? Multiple licenses refer to a broker's right to work for multiple entities. To see which users and groups are consuming licenses, select a product. A. Which if the following is TRUE regarding variable annuities? I highly recommend you use this site!