What happens to the license status? Which of the following statements is true regarding examinations by the Commissioner? The duration of a temporary license may not exceed 90 days, Which of the following statements is NOT correct concerning Certificate of Authority? From the Profile blade, modify the usage location. A personal lines producer 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? A. Which of the following is correct regarding a temporary license? Which of the following statements is true regarding the cash value in a Universal life policy? 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? With two legislative days remaining until Crossover Day, legislators and lobbyists spent all . Premiums are determined by the age, sex, and occupation of each individual certificate holder. b. that the claim will be paid if the insurer becomes insolvent. 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). . I would definitely recommend Study.com to my colleagues. b. assumes a portion of the risk from another insurer. Braggs himself does not require any permit to sell his properties. Then click Next. A. The problem is immediately reported back to you. Answer: B. Which type of life insurance is written with a face amount of $3,000 or less? Last year, the couple got divorced. What is the advantage of reinstating a policy instead of applying for a new one? B. To reprocess a user, go to the user pane, open Licenses, and then select the Reprocess button on the toolbar. b. 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? 9. The paid-up addition option uses the dividend To purchase a smaller amount of the same type of insurance as the original policy. A temporary license may be issued to the surviving spouse of a disabled or deceased producer Which of the following is an example of an agent's fiduciary responsibilities? If we select the item details, it shows the following error message: "License operation failed. In the Microsoft 365 admin center, go to the Active groups page (underneath "Groups" in the left-hand navigation) and select Add a group. t. e. In the United States, the rights of transgender people vary considerably by jurisdiction. If only one party to an insurance contract has made a legally enforceable promise, what kind of contract is it? SPH DARWIN journals are members of the Committee on Publication Ethics . 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 . 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. To solve this problem, remove users from unsupported locations from the licensed group. A. Calculate and interpret the sample correlation coefficient. Please sign in to share these flashcards. Which of the following terms best describes what the insurer has violated? D. Promptly forwarding premiums to the insurance company. Which of the following are the authorities that an agent can hold? Last year, she received a dividend check from the insurance company that was not taxable. Use =0.05\alpha=0.05=0.05 to test if the population correlation coefficient is significantly different from zero. Redlining, Blockbusting & Steering: Definition & Differences, General Agent vs. Universal Agent in Real Estate | Overview, Differences & Similarities, Accretion, Avulsion & Reliction: Definition & Effects. In this article, we explain the reasons why users might end up in this state. 1 / 15. Handling insurer funds in a trust capacity. It was released as the second single from the album in 2005. B) Work groups primarily engage in collective work that requires joint effort. What does "liquidity" refer to in a life insurance policy? Give some examples of transactions that would be recorded in the Other Accounts CR column of the cash receipts journal. This insurance provides financial protection against physical damage and bodily injury resulting from traffic collisions. The owner or developer must be in control of all of the developments in his portfolio that fall under the group license. What is the status of her license on October 1, if she fails to meet renewal requirements? It is issued by the state department of insurance. B. You can see the users who failed to get assigned and check which products are affected by this problem. 2 . e. The number of units in the process at the end of the period. Are you looking for the correct answer to the question Which of the following is NOT true regarding a Certificate of Authority?? Replacement parts to be used that are not manufactured by the original manufacturer may not be used Create your account, 22 chapters | To find all groups that contain at least one error, on the Azure Active Directory blade select Licenses, and then select Overview. As a member, you'll also get unlimited access to over 88,000 1 . When an insurer approves a prepaid application, (In insurance, the offer is usually made by the applicant, in the form of the application. 1. When you assign licenses directly to individual users, without using group-based licensing, the assignment operation might fail for reasons that are related to business logic. CIt is issued by the state department of insurance. b) Health insurance: an insurance (CII study text on Liability insurances, 2016). a. You can select each user individually to see more details. a It does not apply to contracts for the sale of goods. 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? 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. An insurance producer cannot act as an insurer's agent unless that producer becomes appointed with the insurer Which of the following is TRUE regarding the accumulation period of an annuity? Azure AD will retry processing the user license and will resolve the issue. Which of the following is NOT the consideration in a policy? A life policy may not be backdated more than: The duration of the grace period for life insurance policies is: A surplus lines producer sells insurance for: Which of the following statements is false concerning adjusters? Which of the following is the closest term to an "authorized" insurer? a. Certificates of Authority are renewed biennially by May 1, Which of the following statements is correct regarding cease and desist orders? Problem: While updating license assignment on a user or a group, you might see that the Azure AD Mail and ProxyAddresses attribute of some users are changed. * A) Coverage may be continued for up to 18 months for a qualified beneficiary and 36 months for a terminated employee. The DBPR will issue a pseudo license number. d. It involves slightly more risk to the licensee than licensor. a. at least 60 Which of the following is NOT the consideration in a policy? Write an essay on the Essential Question: What is the proper role of the government in the economy? Which of the following is NOT a characteristic of an insurable risk? When a sales associate's employing broker changes his or her address. Which of the following is a statement that is guaranteed to be true, and if untrue, may breach an insurance contract? How does this z-score compare with the z-score you calculated before? Which of the following IS TRUE regarding the meaning of the word angst? (c) a violation of FS 475. He hires his son but he is NOT license to sell lots.Father offers son a salary of $200 per week. Within how many days must a licensee inform the FREC of their change of business address? d It applies to. (A warranty in insurance is a statement guaranteed to be true. C. B. This memorandum surveys U.S. economic sanctions and anti-money laundering ("AML") developments and trends in 2022 and provides an outlook for 2023. In Florida, a real estate broker who wishes to work for more than one entity can apply for multiple licenses. It contains a single service plan with the same name. Coverage ends and the policy cannot be reinstated. \hline 2002 & 1.63 & 4.61 \\ copyright 2003-2023 Study.com. \end{array} & \text{ 10-Year Yield (\\\%) } \\ 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. X, Y, and Z are partners. Mutual life Insurers must have $2,000,000 in surplus. When ambiguities exist, courts generally rule in favor of the insured.). Please check the appropriate boxes and fill in all the required information. Buy-sell agreements are normally funded with a life insurance policy. Which of the following situations does not require the delivery of the Shopper's Guide? a. A licensed sales associate will be locked into work at only one development if no multiple licensing exists. There is no action required from the customer to fix this issue. D. The agent accepts a premium payment during the grace period. Please upgrade to Cram Premium to create hundreds of folders! A user has a license for Office 365 Enterprise E1 assigned directly, with all the plans enabled. On the "Group type" page, select Microsoft 365, then click Next. Considering only offices with a wait tracking system, what is the z-score for the sixth patient in the sample (wait time 5 37 minutes)? A. We recommend that administrators set the correct usage location values on users before using group-based licensing to comply with local laws and regulations. price is ___________ the equilibrium price. 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. Any other documentation relevant to the correction. A. Restores an insured person to the same financial state as before the loss. Answer should be B because only one user cannot be assigned the license, and before assigning the license to a user, usage location should be same. The decision about how to resolve conflicting product licenses always belongs to the administrator. 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. C. An insurable risk must involve a loss that is definite as to cause, time, place and amount. Series 6: Multiple choice questions (choose the best statement) Exercise 1. a. premiums are fixed for the first 5 years. The original intent to license the user is never lost, but it's recorded in an error state for future investigation and resolution. Who might receive dividends from a mutual insurer? An insured purchased an insurance policy 5 years ago. (When insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.). A notification appears if there are any users in an error state. Why does making this change in calculating GDP provide a truer picture of the size of Nigerias economy? Plus, get practice tests, quizzes, and personalized coaching to help you B. B. Upfront license payments . B. Staffa (Switzerland), January 5, 2023 - Sonova Holding AG, a leading provider of hearing care solutions, today unveils the launch of the Sennheiser Conversation Clear Plus earbu 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. Police Power in Real Estate Significance & Examples | What is Police Power? For example, you can assign Office 365 Enterprise E3 and Enterprise Mobility + Security to a group to easily enable all included services for users. | 21 The article also includes information on how to connect to Exchange Online by using remote PowerShell. Open the group to its overview page and select Licenses. Your email address will not be published. Perfectly happy with his profits, Bob did not consider holding multiple licenses. The application process requires the owner or developer to file with the DBPR. C. It is issued to group insurance participants. However, removing licenses from all the users in the group may take time. This doctrine provides that an employee will pay taxes once he/she begins receiving economic benefits of an insurance-funded plan. Guitar Tabs. Which of the following statements is false with respect to hearings? D. It may be necessary for transacting business in a specific state. The annuity owner dies while the annuity is still in the accumulation stage. D. is likely to end by 2017. Is exempt from licensure under F.S. This rider is available to all insureds with no additional premium. (c) Th; Which of the following is not a true statement? C. Something that increases the chance of loss. Which statement regarding insurable risks is NOT correct? 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"}}. A master policy purchased by a condominium association, With respect to failure to remit premiums, which of the following statements is false? More than one product license assigned to a group. An insurer invests the money it receives from premiums paid by its insureds. The plan must provide an offset for social security benefits. c. Estimate and interpret a sample regression equation using the 10-year yield as the response variable and the 3 -month yield as the explanatory variable. The plan is funded by permanent insurance only. b. Insurers must acknowledge the receipt of a notice of a claim within: Which of the following is correct regarding a temporary license? Also imagine that a few members of the group have Audio Conferencing licenses assigned directly. The central theme of 2022 was the U.S. government's deploying of its sanctions, AML . Producers of broker Insurance must build a bond along with the application for license. Which of the following is NOT a reporting requirement? A) Uber is an example of a business model that is based on the principle of network economics. BIt is equivalent to an insurance license. The New York Superintendent has the responsibility to make sure each entity transacting insurance in this state remains solvent. B. 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. Which of the following is NOT true regarding a Certificate of Authority? is already being used" error message in Exchange Online. C. It is equivalent to an insurance license. That was until several real estate entities learned about Bob's savvy sales techniques. What is a major problem with naming a trust as the beneficiary of a life insurance policy? This person presents what type of hazard? Based on the previous example, you would assign the following products to the same group: From now on, any users added to this group consume one license of the E3 product and one license of the Workplace Analytics product. Which of the following types of policies are exempt from the state replacement regulations? The Manager. With respect to concealment or fraud in conjunction with the standard fire policy, which of the following is NOT correct? Which of the following is a statement that is guaranteed to be true, and if untrue, may breach an insurance contract? This is done to ensure that any users who are added to the group can receive the fully working product. The only ABO type blood that normally does not have either A or B antigens . View the full answer. Twin brothers are starting a new business. (Perils are the cause of loss insured against in an insurance policy.). Braggs did not want to lock each sales associate into one single development. C. Rapid elasticity. Which of the following is NOT true regarding a Certificate of Authority? Issued insufficient coverage to a customer through apparent authority Eventually, these costs will appear in the prices of frozen and canned vegetables. Over the past several years, the owner, John Braggs, built single-family homes on each plot. Which of the following statements regarding the temporary insurance license is not correct? Year20012002200320042005200620072008200920103-MonthYield(%)3.471.631.031.403.214.854.471.390.150.1410-YearYield(%)5.024.614.024.274.294.794.633.673.263.21. A. The insurer must be able to rely on the statements in the application, and the insured must be able to rely on the insurer to pay valid claims. D. It may be necessary for transacting business in a specific state. Try refreshing the page, or contact customer support. d. evidence of insurability is required with any change in premium. \hline 2003 & 1.03 & 4.02 \\ 2003-2023 Chegg Inc. All rights reserved. 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.). An applicant for a producer license must provide evidence of legal liability coverage for an amount of least: $20,000. b. 3-Real Estate License Law and Commission Rules. Which of the following is NOT a goal of risk retention? When would a 20-pay whole life policy endow? A. (The principal grants authority to an agent through the agent's contract.). Which of the following is NOT a type of whole life insurance? That's when several brokers approached Bob about holding multiple licenses. By the end of 2021, at least 130 bills had been introduced in 33 states to restrict the rights of transgender people. Which of the following is NOT allowed regarding the disclosure of personal information? No real estate sales license is needed for the owner or developer. The number of policy cancellations by policyholder. 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.). All costs are controllable at some level within a company. Members of the public flooded the State Capitol again on Tuesday. Katy's license expired on September 30th. A. When Azure AD assigns group licenses, any users without a specified usage location inherit the location of the directory. b) toxin. 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? 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.). Which of the statements is correct regarding membership on the Probable Cause Panel? 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 . Get unlimited access to over 88,000 lessons. Equivalent units of production are equal to She has asked you to give her information about what determines the level of various interest rates. D. It is issued by the state department of insurance. To be considered as part of an organization's market, customers must be considered qualified to make a purchase. With regard to licensee responsibilities, which of the following statements is NOT correct? D. group credit insurance must have a suicide clause and a misstatement of age clause. Problem: There aren't enough available licenses for one of the products that's specified in the group. Feb. 2015. All of the following statements are correct regarding Credit Life Insurance EXCEPT Benefits are paid to the borrower's beneficiary. To see how many licenses are available, go to Azure Active Directory > Licenses > All products. Answer:A. Installing deadbolt locks on the doors of a home is an example of which method of handling risk? A limited lines producer is authorized to sell all of the following, except: Which of the following statements is false? A temporary license is only granted upon the death of an agent B. Question: Which of the following is true regarding Article 2 of the Uniform Commercial Code (UCC)? B. Which of the following correctly describes an Apprentice Adjuster's license? Secondary Mortgage Market | Differences, Role & Examples. When group-based licensing tries to process concurrent license assignment of same license to a user, this exception is recorded on the user. 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. Which authority is NOT stated in an agent's contract but is required for the agent to conduct business? An error occurred trying to load this video. Policy loans must available after the policy has been in effect for 6 months. How long will a real estate license that has been involuntarily inactive for, automatically expire, or be classed as null and void? a. Appointed by the Governor, Which of the following statements is correct concerning Workers' Compensation? You have created 2 folders. B. B) The agent will guarantee the policy. You can select each group for more details. B. drives farmers to grow soybeans. The HIH Casualty & General Insurance Ltd. v. New Hampshire Insurance Co. and Ors case is a good example illustrating the problems that can arise when the pa Purchasing car insurance is costly. Under Licensed users, you see a list of all users who have had licenses assigned directly or via one or more groups. Real Estate Express & Implied Agency | What are Express & Implied Agency? A group license applies to an owner/land developer. 7 Miscellaneous Personal Lines Coverage, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. Lien Theory State vs. During replacement of life insurance, a replacing insurer must do which of the following? \hline 2001 & 3.47 & 5.02 \\ DIt is issued to group insurance participants., An insurance company has published a brochure . * C) Coverage may be continued for up to 18 months for both . I feel like its a lifeline. Definition. A sales associate or broker associate may have a "group license" in order to sell for all the entities owned by the owner/developer. Transcribed image text: Question 1 (1 point) Which of the following statements is NOT correct regarding markets? The plan must provide an offset for social security benefits. 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. Which of the following are part of the legal responsibility of maintaining an insurance license? Introducing Cram Folders! B. Question: After repairing his roof, Ralph jumped to the ground instead of using a ladder. Select the notification to open a list of all affected users. Hanging multiple broker's licenses works like this. All other trademarks and copyrights are the property of their respective owners. Which of the following would help prevent a universal life policy from lapsing? The designation will be void/. a) toxicant. Term. What is the maximum amount of time that an application may be backdated? It is intended to provide coverage on a date earlier than the date of the issuance of the policy. B. 4. Multiple Choice Questions. a. To learn more about other scenarios for license management through groups, see the following: More info about Internet Explorer and Microsoft Edge, "Proxy address Braggs, once registered with the DBPR, will file for a pseudo number, not a valid real estate license number. c. The number of finished units actually completed this period. Under the COBRA rules for employer group health insurance, which of the following statements is CORRECT? It is issued to group insurance participants. For example, consider a group that has Office 365 E3/E5 assigned with a Skype for Business service plan enabled. Who may work for a real estate owner developer? This option offers more flexibility. A. CONSIDER APPROVAL: Moved by Allen, seconded by Rice, to approve Amendment #1 to Agreement #A2021-18, Ground Storage Tank Construction Services Project #2020-20 with Infrastructure Design Group in . What is the maximum duration a Commission member is allowed to serve, as per Florida Statute? Is with regard to the person's own property or person, In the event of death resulting from an accident arising out of and in the course of employment or from an occupational disease, the amount provided for burial expense is: succeed. This website helped me pass! d. Louder than. If thats the case, you dont have to worry anymore. Which of the following is true regarding a single life settlement option? C. To minimize the insured's level of liability in the event of loss. Certified Insurance Consultant, Which of the following statements is false regarding hearings? Select the box to see a list of all groups with errors. AIt may be necessary for transacting business in a specific state. Bob must be sworn in as a: And this must be done for every real estate agency where Bob hangs his license. Browse Covers | YourCover backing tracks in MP3 format. Making derogatory oral statements about another insurance financial condition. One member must be a current member of the FREC, c. One member may be a previous Commission member. What does "level" refer to in level term insurance? Some Microsoft Online products you might own are add-ons. D. To reduce expenses and improve cash flow. The application given to a prospective insured. When group-based licensing tries to assign a license to such a user, it fails and shows Proxy address is already being used. 475. In recent years, ethanol production has increased rapidly. To solve this problem, you need to make sure that the required plan is still assigned to users through some other method or that the dependent services are disabled for those users. A live proctor will monitor you. Holding multiple licenses is different than holding a group license in Florida real estate. Courts will interpret any ambiguity in and insurance contract (Insurance policies are contracts of adhesion. When a producer's check is returned and remains outstanding 30 days following receipt of such return, the insurer must report to the Commissioner Benefit payment amounts are not guaranteed. Which of the following is TRUE? References: Consists of 4 separate muscles b. C. Being liable with respect to payment of claims. You must remove all licenses assigned to a group before you can delete the group. The interest credited under this option is not taxable since it remains inside the insurance policy. With respect to dependent handicapped children, which of the following is incorrect? Which of the following statements are correct? Replacement parts to be used that are not manufactured by the original manufacturer must clearly identified by the insurer, Which of the following is true with regard to the Home Business Endorsement HO 07 01? Find out how you can intelligently organize your Flashcards. Landmark Homes, Incorporated, located in West Palm Beach, Florida, purchased eight plots of land throughout the county.
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