An applicant for a producer license must provide evidence of legal liability coverage for an amount of least: Which of the following statements is false with respect to requirements for rates? The agency may not investigate an individual who is not designated as an MLO. If only one party to an insurance contract has made a legally enforceable promise, what kind of contract is it? A. At any given time, how would the yield curve facing a BB-rated company compare with the yield curve for U.S. Treasury securities? Which power did the Commission exercise? A. Which of the following is a feature of a variable annuity? B. Upfront license payments . Due to the insured changing his/her occupation Its like a teacher waved a magic wand and did the work for me. The decision about how to resolve conflicting product licenses always belongs to the administrator. Which statement is correct as per licensing law and regulations? Last year, she received a dividend check from the insurance company that was not taxable. Which of the following statements is false with respect to notices of information practices? Group-based licensing in Azure Active Directory (Azure AD), part of Microsoft Entra, introduces the concept of users in a licensing error state. When group-based licensing tries to process concurrent license assignment of same license to a user, this exception is recorded on the user. DIt is issued to group insurance participants., An insurance company has published a brochure . Primary vs. This doctrine provides that an employee will pay taxes once he/she begins receiving economic benefits of an insurance-funded plan. A. C. It is issued to group insurance participants. (b) They may be loosely tied together in a committee. B. That was until several real estate entities learned about Bob's savvy sales techniques. The Commissioner may hold a hearing for any purpose within or out of the scope of the Code. An insurer invests the money it receives from premiums paid by its insureds. A personal lines producer Which of the following is NOT consideration on the part of an insured? 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? This is a method where the reinsurer indemnifies the ceding insurer for part or all of the losses it sustains related to a policy issued previously.). Insurance is a contract by which one seeks to protect another from (Insurance will protect a person, business or entity from loss.). (An agent who accepts a premium after the end of the grace period appears to the client to have the authority to prevent the policy form lapsing. B. Within how many days must a licensee inform the FREC of their change of business address? C. It is equivalent to an insurance license. Which of the following statements is true regarding the cash value in a Universal life policy? a. Question: Which of the following is true regarding Article 2 of the Uniform Commercial Code (UCC)? Express Authority. Who might receive dividends from a mutual insurer? Which of the following types of policies are exempt from the state replacement regulations? If we select the item details, it shows the following error message: "License operation failed. c . An applicant for a resident producer license who was previously licensed for the same line in this state within the past 90 days, 4. B. A. Typically, a real estate broker will hold one license in a single real estate agency. Producers of broker Insurance must build a bond along with the application for license. Updating license assignment on a user causes the proxy address calculation to be triggered, which can change user attributes. Food processors with contracts with farmers to grow crops such as peas and sweet corn have been forced to pay higher prices to keep their supplies secure. D. Measured services. C. Something that increases the chance of loss. . There is no action required from the customer to fix this issue. d. the rate of return on a policy. 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. What implications may this have for Partners X and Y? Actual Notice in Real Estate: Types & Examples | What is Actual Notice? When Azure AD assigns group licenses, any users without a specified usage location inherit the location of the directory. To increase control of claim reserving and claims settlements. A. What you need. 24 (with 3 hours in ethics) A. A. The problem is immediately reported back to you. One member must be a current member of the FREC, c. One member may be a previous Commission member. B. \hline 2001 & 3.47 & 5.02 \\ Definition. After doing that, you can properly remove the group license from those users. B. A situation in which a person can only lose or have no change represents. What do individuals use to transfer risk of loss to a large group? Therefore, answer B is more close to it. b. that the claim will be paid if the insurer becomes insolvent. Return to the waiting times given for the physicians office in one of the previous exercies. The Manager. 10 days a. premiums are fixed for the first 5 years. c. the policy owner can make policy changes without difficulty. A. A. A Development of standards. A handicapped dependent child may be covered under a parent's policy up to age 30. Who among the following would be exempt from a written examination? The paid-up addition option uses the dividend To purchase a smaller amount of the same type of insurance as the original policy. Practice Quiz for ABO blood types. | 21 The user has been added to a group that has the Office 365 Enterprise E3 product assigned to it. It is a period during which payments into the annuity grow tax deferred. An advantage of owning a flexible premium life insurance policy would be. d. evidence of insurability is required with any change in premium. (The binding force in any contract is consideration.). (Paying off debt) What type of insurance would be most affordable and still provide a death benefit should one of them die? Private insurers may be authorized to transact insurance by state insurance departments. The interest credited under this option is not taxable since it remains inside the insurance policy. You can assign more than one product license to a group. SECTION 3: Real Estate License Law And Commis, Chapter 1: Unit 6 - Misrepresentation & Fair, Fundamentals of Financial Management, Concise Edition, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Information Technology Project Management: Providing Measurable Organizational Value. From the Profile blade, modify the usage location. Q. With group-based licensing, the system requires that both the prerequisite and add-on service plans be present in the same group. All books and records pertaining to an MLO's operation must be made available upon request. I hope you got the correct answer to your question. Your email address will not be published. 1. Problem: User has LicenseAssignmentAttributeConcurrencyException for license assignment in audit logs. However, for tax purposes, a sales associate is allowed by law to form a professional corporation (PA), and in this case, the DBPR will issue the license in the licensee's actual (legal) name and include the entity designation (PA) after the licensee's legal name. It contains a single service plan with the same name. When a sales associate's employing broker changes his or her address. B. C. It is issued to group insurance participants. B. Upon application for a life insurance policy containing accelerated LTC benefits. D. It may be necessary for transacting business in a specific state. 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. What is a real estate broker sales associate. C. Rapid elasticity. (When insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.). B. b. the insurer can make policy charges without difficulty. A limited lines producer is authorized to sell all of the following, except: Which of the following statements is false? Which of the following are part of the legal responsibility of maintaining an insurance license? It is issued to group insurance participants. \hline 2002 & 1.63 & 4.61 \\ Which of the following correctly describes an Apprentice Adjuster's license? Participate in the planning and implementation of laboratory exercises and experiments; implement new or modified policies and procedures . A user has a license for Office 365 Enterprise E1 assigned directly, with all the plans enabled. How long will a real estate license that has been involuntarily inactive for, automatically expire, or be classed as null and void? 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. All rights reserved. Courts will interpret any ambiguity in and insurance contract (Insurance policies are contracts of adhesion. That's when several brokers approached Bob about holding multiple licenses. Which of the following statements is false with respect to license renewals? Florida Real Estate Broker License Exam: Study Guide, Becoming a Licensed Real Estate Broker in Florida, Reporting Broker & Licensee Address Changes In Florida, Psychological Research & Experimental Design, All Teacher Certification Test Prep Courses, Real Estate Licensing & Continuing Education Requirements, Real Estate Ethics: Importance & General Concepts, Unauthorized Practice of Law: Definition & Consequences, Differences Between Real Estate Customers & Clients, Real Estate Transaction Agents: Definition & Duties, Transitioning from Florida Real Estate Sales Associate to Broker, Multiple Licenses vs. Group Licenses in Florida Real Estate, Registering & Operating a Brokerage Entity in Florida, Workplace Requirements in a Real Estate Office, Managing & Supervising a Real Estate Office, Real Estate Closing & Settlement Procedures, Florida Real Estate Rules, Regulations & Laws, Florida Real Estate Broker License Exam Flashcards, Business Ethics Syllabus Resource & Lesson Plans, Organizational Behavior Syllabus Resource & Lesson Plans, Intro to Business Syllabus Resource & Lesson Plans, Business Law Syllabus Resource & Lesson Plans, UExcel Quantitative Analysis: Study Guide & Test Prep, Financial Accounting Syllabus Resource & Lesson Plans, Technical Writing Syllabus Resource & Lesson Plans, Macroeconomics for Teachers: Professional Development, Public Speaking Syllabus Resource & Lesson Plans, Quantitative Analysis Syllabus Resource & Lesson Plans, Real Estate Agents: Employees vs. Handling insurer funds in a trust capacity. What else must he include? D. It is issued by the state department of insurance. To unlock this lesson you must be a Study.com Member. The owner or developer must be in control of all of the developments in his portfolio that fall under the group license. To find all groups that contain at least one error, on the Azure Active Directory blade select Licenses, and then select Overview. Alternatively, you might decide to remove the E1 license from the user if it's redundant in the context of the E3 license. What is the maximum amount of time that an application may be backdated? Upgrade to Microsoft Edge to take advantage of the latest features, security updates, and technical support. Are you looking for the correct answer to the question Which of the following is NOT true regarding a Certificate of Authority?? Certificates of Authority are renewed biennially by May 1, Which of the following statements is correct regarding cease and desist orders? It provides a truer picture of Nigerias size by giving due weight to the bits of the economy, such as telecoms, banking and the Nollywood film industry, that have been growing fast in recent years.. Which of the following is an example of an agent's fiduciary responsibilities? Which of the following statements is false with respect to license renewals? Estate for Years: Overview & Examples | Estate for Years in Real Estate Definition, How the Statute of Frauds Applies to Real Estate Transactions. Or, you need to modify the entire group license assignment and disable the plans in the E3 license. Adverse selection is a concept best described as Risks with higher probability of loss seeking insurance more often than other risks. Which of the following statements is false with respect to hearings? An insurer or producer may pay commissions (other than as prohibited) to an insurance agency or to persons who do not sell, solicit, or negotiate insurance B. Stock life insurers must have $1,000,000 in capital and $2,000,000 in surplus. The annuitant assumes the risk on investment. What happens when a policy is surrendered for its cash value? Your boss has prepared some questions for you to consider. In Minnesota, land diverted to corn to feed the ethanol maw is reducing the acreage planted to a wide range of other crops, especially soybeans. B. d. It involves slightly more risk to the licensee than licensor. 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? (Representation are statements made by an applicant that they believe to be true.). It was released as the second single from the album in 2005. Which of the following is NOT true regarding Equity Indexed Annuities? Please tell us how we can make this answer more useful. b. Issued insufficient coverage to a customer through apparent authority A. Multiple Choice Questions. 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: This option offers more flexibility. Which statement regarding insurable risks is NOT correct? By putting the client's best interest before their own. \hline Which of the following statements is true regarding a work group?
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