c. cedes the risk. To be able to shift sales staff around, Braggs would have to apply for a group license for his sales staff. A toxic substance produced by biological system is specially referred to as a ------. When an individual purchases insurance, what risk management technique is he or she practicing. 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. All of the following are marketing arrangements used by insurers EXCEPT An insured committed suicide one year after his life insurance policy was issued. One member must be a current member of the FREC, c. One member may be a previous Commission member. A developer purchased a tract of land and subdivided the property into Individual lots. C. It is issued to group insurance participants. Please check the appropriate boxes and fill in all the required information. B. An employee is insured under her employer's group life plan. | 21 Braggs, once registered with the DBPR, will file for a pseudo number, not a valid real estate license number. In forming an insurance contract, when does acceptance usually occur? Which nonforfeiture option provides coverage for the longest period of time? b. at least 30, How many credit hours of continuing education must an agent with a life and health or property casualty license complete every renewal period? Sales associates and broker associates register their licenses under that number and then can begin working for the developer. Question: Which of the following is true regarding Article 2 of the Uniform Commercial Code (UCC)? What is the term for the entity that an agent represents regarding contractual agreements with third parties? Benefit payment amounts are not guaranteed. a. With the homes built and ready to go, Braggs hired a bunch of sales associates to push the properties into procurement. C. The application given to a prospective insured. Standardized Contractor Exams - a basis for a license to practice To Register to Take an Exam Call Pearson VUE at 1-877-234-6082 or go to Please check with ICC at www. c . A temporary license is only granted upon the death of an agent B. A group license applies to an owner/land developer. Answer: B. For one, a group license applies to an owner or developer who builds homes or other housing and . It provides income the beneficiary cannot outlive. Private insurers may be authorized to transact insurance by state insurance departments. A. 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.. The annuitant assumes the risk on investment. Which of the following statements is true regarding advertising of the Iowa Life and Health Guaranty Association? A group license is much different than holding multiple licenses. Bob is the agency owner, and all of his real estate transactions are performed through the agency's business license. All other trademarks and copyrights are the property of their respective owners. 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. C. group credit life insurance does not build cash values. Which of the following is TRUE? The government pays subsidies to companies that produce ethanol, a fuel made from corn. 475. Select the notification to open a list of all affected users. How long will a real estate license that has been involuntarily inactive for, automatically expire, or be classed as null and void? Policy loans must available after the policy has been in effect for 6 months. Ethical Guidelines for Academic Editors. Let's consider the following example: Microsoft Workplace Analytics is an add-on product. Acceptance takes place when an insurer's underwriter approves the application and issues a policy.). Find out how you can intelligently organize your Flashcards. What is a major problem with naming a trust as the beneficiary of a life insurance policy? Use LEFT and RIGHT arrow keys to navigate between flashcards; Use UP and DOWN arrow keys to flip the card; Which Insurance principle states that if a policy allows for greater compensation than the financial loss incurred, the insured may only receive benefits for the amount loss? Solved Which of the following is true regarding Article 2 of - Chegg Twin brothers are starting a new business. Which of the following is true? PowerShell: PowerShell cmdlets report this error as ProhibitedInUsageLocationViolation. Which of the following is a feature of a variable annuity? At any given time, how would the yield curve facing a BB-rated company compare with the yield curve for U.S. Treasury securities? In reference to fixed annuities, what comprises most of a life insurance company's general account? This is an example of what type of agent authority? (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. 7 Miscellaneous Personal Lines Coverage, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. At any given time, how would the yield curve facing a AAA-rated company compare with the yield curve for U.S. Treasury securities? Which of the following statements about network economics is not true? Which of the following IS TRUE regarding the meaning of the word angst? Please sign in to share these flashcards. What documentation grants express authority to an agent? 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? B. * B) Coverage may be continued for up to 36 months for both a qualified beneficiary and a terminated employee. A converted policy is not required if the insured is or could be covered by any of the following, except: The duration of the free look period for individual life insurance policies is: Which of the following is NOT among the powers and duties of the Commissioner? c. Greater than. The owner or developer must be in control of all of the developments in his portfolio that fall under the group license. \end{array} & \text{ 10-Year Yield (\\\%) } \\ A temporary license for up to 12 months without having to pass an examination. It helped me pass my exam and the test questions are very similar to the practice quizzes on Study.com. Actual Notice in Real Estate: Types & Examples | What is Actual Notice? This person presents what type of hazard? What implications may this have for Partners X and Y? Which of the following is NOT the consideration in a policy? 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 Write an essay on the Essential Question: What is the proper role of the government in the economy? AzAnswer team is here with the right answer to your question. Chapter 15 Exam - State Law Flashcards | Quizlet A temporary license may be issued to the surviving spouse of a disabled or deceased producer. Certified Insurance Consultant, Which of the following statements is false regarding hearings? Ohio Real Estate Broker Exam: Study Guide & Practice, Ohio Real Estate Salesperson Exam: Study Guide & Practice, Ohio Licensed Appraiser Exam: Study Guide & Practice, California Real Estate Broker Exam: Study Guide, Oklahoma Real Estate Broker Exam: Study Guide & Practice, Iowa Real Estate Broker Exam: Study Guide & Practice, Oklahoma Real Estate Salesperson Exam: Study Guide & Practice, Iowa Real Estate Salesperson Exam: Study Guide & Practice, Kansas Real Estate Broker Exam: Study Guide & Practice, Hawaii Real Estate Broker Exam: Study Guide & Practice, Hawaii Real Estate Salesperson Exam: Study Guide & Practice, New Hampshire Real Estate Broker Exam: Study Guide & Practice, New Hampshire Real Estate Salesperson Exam: Study Guide & Practice, Vermont Real Estate Salesperson Exam: Study Guide & Practice, New Mexico Real Estate Broker Exam: Study Guide & Practice, North Dakota Real Estate Broker Exam: Study Guide & Practice, North Dakota Real Estate Salesperson Exam: Study Guide & Practice, South Dakota Real Estate Salesperson Exam: Study Guide & Practice, California Real Estate Salesperson Exam: Study Guide, Create an account to start this course today. 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? All owner (s) must sign the application. Independent Contractors, Real Estate Agency Supervision Responsibilities, Dual Agency: Definition, Duties & Restrictions, Non-Agency Relationships & Agreements: Elements & Disclosures, Comparative Marketing Analysis in Real Estate, Arizona Real Estate Commissioner: Duties & Powers, Real Estate Broker & Affiliate Relationships in Tennessee, Indiana Real Estate Commission: Laws, Regulations & Duties, Duties & Powers of the Colorado Real Estate Commission, Working Scholars Bringing Tuition-Free College to the Community. Nelson Mullins - Gold Dome Report - Legislative Day 25 We also provide some thoughts concerning compliance and risk mitigation in this challenging environment. To make his group license happen, Braggs must file an affidavit with the DBPR that lists the legal company name used for the developments. For example, consider a group that has Office 365 E3/E5 assigned with a Skype for Business service plan enabled. Its like a teacher waved a magic wand and did the work for me. 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. Producer licenses expire every 2 years (biennially) on the producer's birth date. C. Steven prints a pamphlet to advertise his life insurance business. \hline 2001 & 3.47 & 5.02 \\ Which of the following is NOT a characteristic of an insurable risk? X, Y, and Z are partners. The broker must hold a separate license for each separate agency. 30 days of the change b. To reprocess a user, go to the user pane, open Licenses, and then select the Reprocess button on the toolbar. In fact, the agent has no such power.). b. A tornado that destroys property would be an example of which of the following? The E3 product contains service plans that can't overlap with the plans that are included in E1, so the group license assignment fails with the Conflicting service plans error. policy. D. It may be necessary for transacting business in a specific state. e. Unscrupulous licensees have been known to manufacture licensed products and sell them under different brand names Which of the following is NOT a reporting requirement?