A temporary license may be issued to the surviving spouse of a disabled or deceased producer This usually happens when a user is a member of more than one group with same assigned license. Insurance is a contract by which one seeks to protect another from (Insurance will protect a person, business or entity from loss.). Which of the following is the closest term to an "authorized" insurer? With the homes built and ready to go, Braggs hired a bunch of sales associates to push the properties into procurement. With respect to dependent handicapped children, which of the following is incorrect? The New York Superintendent has the responsibility to make sure each entity transacting insurance in this state remains solvent. 2 . Courts will interpret any ambiguity in and insurance contract (Insurance policies are contracts of adhesion. A handicapped dependent child may be covered under a parent's policy up to age 30. A group license is much different than holding multiple licenses. C. It is equivalent to an insurance license. Insurers may examine and audit an insured's records relating to this coverage for up to 3 years after a policy period expires It helped me pass my exam and the test questions are very similar to the practice quizzes on Study.com. The above question Which of the following is NOT true regarding a Certificate of Authority?, Was part of Insurance MCQs & Answers. You can select each group for more details. Which policy component fluctuates depending on the policy type? The agency may not investigate an individual who is not designated as an MLO. What is the term for the entity that an agent represents regarding contractual agreements with third parties? 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 original intent to license the user is never lost, but it's recorded in an error state for future investigation and resolution. A group license applies to an owner or developer who builds homes or other housing and utilizes sales associates to sell the properties. Restores an insured person to the same financial state as before the loss. is already being used" error message in Exchange Online. Which of the following would NOT be an eligible group for group life insurance? A salaried individual manages a condominium building and rents units 3month to 6month periods. Plus, get practice tests, quizzes, and personalized coaching to help you 24 (with 3 hours in ethics) The central theme of 2022 was the U.S. government's deploying of its sanctions, AML . c. The number of finished units actually completed this period. 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 \\ Problem: One of the products that's specified in the group contains a service plan that must be enabled for another service plan, in another product, to function. What else must he include? \hline 2001 & 3.47 & 5.02 \\ As a member, you'll also get unlimited access to over 88,000 A group license is for an owner/developer who owns properties through various entities, but all such entities are connected so that such ownership or control is by the same individual or individuals. b. C. Rapid elasticity. Net Listing in Real Estate: Concept & Examples | What Is a Net Listing? a. accepts all the risk from another insurer. For example, you can assign Office 365 Enterprise E3 and Enterprise Mobility + Security to a group to easily enable all included services for users. Holding multiple licenses gave Bob the ability to hold the title of broker at numerous real estate agencies at the same time. For example, if you free up some licenses by removing direct license assignments from users, you need to trigger the processing of groups that previously failed to fully license all user members. a. This insurance provides financial protection against physical damage and bodily injury resulting from traffic collisions. PowerShell: PowerShell cmdlets report this error as MutuallyExclusiveViolation. To understand the exact reason of the change and solve the problem, see this article on how the proxyAddresses attribute is populated in Azure AD. A. Which of the following is NOT true regarding Equity Indexed Annuities? The service Microsoft Workplace Analytics requires Exchange Online (Plan 2) to be enabled as well.". A market consists of anyone who believes they have a need . One member must be a current member of the FREC, c. One member may be a previous Commission member. Updating license assignment on a user causes the proxy address calculation to be triggered, which can change user attributes. When a producer's check is returned and remains outstanding 30 days following receipt of such return, the insurer must report to the Commissioner This website helped me pass! a. A real estate broker may be issued multiple licenses under certain circumstances. Your email address will not be published. C. Coverage ends and the policy cannot be reinstated. A sales associate or broker associate may have a "group license" in order to sell for all the entities owned by the owner/developer. You can select your choice and check it instantly to see the answer with an explanation. Which of the following individuals must have insurable interest in the insured? B. Actual Notice in Real Estate: Types & Examples | What is Actual Notice? 7 Miscellaneous Personal Lines Coverage, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. This person cannot be a sales associate or a broker associate. Appointed by the State Senate and confirmed by the Governor Express Authority. a. Its like a teacher waved a magic wand and did the work for me. No real estate sales license is needed for the owner or developer. B. 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? by JayDJohnson, A. 1. An applicant for a producer license must provide evidence of legal liability coverage for an amount of least: $20,000. 3-Real Estate License Law and Commission Rules. Which of the following is an example of apparent authority of an agent appointed by an insurer? D. It may be necessary for transacting business in a specific state. Try refreshing the page, or contact customer support. $4,000 When group-based licensing tries to process concurrent license assignment of same license to a user, this exception is recorded on the user. .. . This is an example of what type of agent authority? Premiums are determined by the age, sex, and occupation of each individual certificate holder. What is the major difference between a Stock Company and a Mutual Company? They earn lower interest rates than fixed annuities. Find out how you can intelligently organize your Flashcards. Term. B. When Azure AD assigns group licenses, any users without a specified usage location inherit the location of the directory. The DBPR will issue a pseudo license number. With respect to concealment or fraud in conjunction with the standard fire policy, which of the following is NOT correct? a. Which nonforfeiture option provides coverage for the longest period of time? Which of the following is false regarding financial requirements applicable to insurers in Connecticut? To see which users and groups are consuming licenses, select a product. It is an equivalent of insurance license. The insured may choose to convert to term or permanent individual coverage. By putting the client's best interest before their own. Document C shows that the ethanol boom A. results in higher food prices. Group-based licensing in Azure Active Directory (Azure AD), part of Microsoft Entra, introduces the concept of users in a licensing error state. To schedule a fingerprint reservation, please contact Pearson's third party vendor, IdentoGO By MorphoTrust USA (formerly known as L1 Enrollment). Eventually, these costs will appear in the prices of frozen and canned vegetables. The annuitant assumes the risk on investment. (A peril is the cause of loss insured against in an insurance policy.). A group license is for an owner/developer who owns properties through various entities, but all such entities are connected so that such ownership or control is by the same individual or individuals. In recent years, ethanol production has increased rapidly. You can disable the E1 license that's directly assigned to the user. This error occurs when Azure AD attempts to remove the underlying service plan. Series 6: Multiple choice questions (choose the best statement) Exercise 1. PowerShell: PowerShell cmdlets report this error as CountViolation. The article also includes information on how to connect to Exchange Online by using remote PowerShell. An insurer invests the money it receives from premiums paid by its insureds. Please check below to know the answer. It is issued to group insurance . D. It is issued by the state department of insurance. What type of insurance would be used for a Return of Premium rider? Which of the following statements is true regarding a plumber who has been appointed by a court to appraise a small business? Participate in the planning and implementation of laboratory exercises and experiments; implement new or modified policies and procedures . D. The agent accepts a premium payment during the grace period. \hline 2004 & 1.40 & 4.27 \\ Every licensed individual must have and maintain a place of business accessible to the public, excluding the licensee's residence. Which of the following is NOT true regarding a Certificate of Authority? The Manager. However, removing licenses from all the users in the group may take time. During replacement of life insurance, a replacing insurer must do which of the following? Insurance companies may be classified according to the legal form of their ownership. C. forces corn prices down. 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.). You need to either purchase more licenses for the product or free up unused licenses from other users or groups. B. Adverse selection is a concept best described as Risks with higher probability of loss seeking insurance more often than other risks. Title Theory State | Rights, Differences & Purpose. Please note that you will not receive a response to this feedback. (a) legal if the sales associate has a group license. It is intended to provide coverage on a date earlier than the date of the issuance of the policy. (c) Th; Which of the following is not a true statement? B. 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? Problem: There aren't enough available licenses for one of the products that's specified in the group. Handling insurer funds in a trust capacity. Who may work for a real estate owner developer? Which of the following is a feature of a variable annuity? For example, this can happen when you remove the user from the group. That its policies are covered by a state Guaranty Association. d. It involves slightly more risk to the licensee than licensor. Which of the following is NOT a characteristic of an insurable risk? He hires his son but he is NOT license to sell lots.Father offers son a salary of $200 per week. The original age is used for premium determination. Before you can assign a license to a user, you must specify the Usage location property for the user. These frequently asked SQL questions are given with the correct choice of answer among multiple options. SPH DARWIN journals are members of the Committee on Publication Ethics . Is limited lines insurance Hanging multiple broker's licenses works like this. succeed. Under Licensed users, you see a list of all users who have had licenses assigned directly or via one or more groups. C. It is issued to group insurance participants. A group license applies to an owner/land developer. Secondary Mortgage Market | Differences, Role & Examples. The causes of loss insured against in an insurance policy are know as. An applicant knowingly fails to communicate information that would help an underwriter make a sound decision regarding coverage. e. The number of units in the process at the end of the period. The plan must provide an offset for social security benefits. It is issued to group insurance participants. D. Something of value exchanged between parties. Issued insufficient coverage to a customer through apparent authority (Perils are the cause of loss insured against in an insurance policy.). Your boss has prepared some questions for you to consider. What you need. The premium amount paid at the time of application. copyright 2003-2023 Study.com. 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? "You're Beautiful" on YouTube [a] " You're Beautiful " is a song by English singer-songwriter James Blunt. Less than. A. \end{array} To learn more about other scenarios for license management through groups, see the following: More info about Internet Explorer and Microsoft Edge, "Proxy address Which of the following allows the insurer to relieve a minor insured from premium payments if the minor's parents have died or become disabled? Instead, they're recorded on the user object and then reported via the administrative portal. b It applies to bonds, information, and other intangibles. A. A. If you need assistance, please submit your question by, Department of Business and Professional Regulation Page. B. Which of the following is NOT true regarding a Certificate of Authority? Installing deadbolt locks on the doors of a home is an example of which method of handling risk? The policy contains sufficient cash value to cover the cost of insurance. A. That's when several brokers approached Bob about holding multiple licenses. The trust that a client places in the producer in regard to handling premiums. Members of the public flooded the State Capitol again on Tuesday. Make sure that the group has necessary services before adding or removing a dependent service. \hline 2008 & 1.39 & 3.67 \\ Draw a graph to illustrate your answer. Landmark Homes, Incorporated, located in West Palm Beach, Florida, purchased eight plots of land throughout the county. But they weren't the only ones demanding action under the Gold Dome. B. 475. On May 1 she processed an application for life insurance on a new applicant. Publication Ethics Statement. Add-ons require a prerequisite service plan to be enabled for a user or a group before they can be assigned a license. If you use Exchange Online, some users in your organization might be incorrectly configured with the same proxy address value. Answer: B. c It does not apply to contracts for the provision of services. D. To reduce expenses and improve cash flow. One member must be a current member of the FREC, c. One member may be a previous Commission member. A reinsurer is a company that. B. Which of the following is a statement that is guaranteed to be true, and if untrue, may breach an insurance contract? Katy's license expired on September 30th. You must remove all licenses assigned to a group before you can delete the group. You can see the users who failed to get assigned and check which products are affected by this problem. 4. It contains a single service plan with the same name. After doing that, you can properly remove the group license from those users. b. To be able to shift sales staff around, Braggs would have to apply for a group license for his sales staff. Which of the following statements is false with respect to license renewals? To minimize the insured's level of liability in the event of loss. BIt is equivalent to an insurance license. Which of the following may NOT be included in an insurance company's advertisement? B. Multiple Choice Questions. Which of the following statements regarding the temporary insurance license is not correct? 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 . C. The agent accepts a premium payment after the end of the grace period. B. 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? Which of the following is correct regarding a temporary license? B. 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? Which of the following duties is part of the Commissions quasi-judicial responsibilities? Who among the following would be exempt from a written examination? There is a specific section of the DBPR website where the sales associate and the developer complete the necessary forms. Upon which of the following would a health benefit plan be permitted to base individual eligibility? From what type of insurer did the insured purchase the policy? FREC holds a meeting in order to pass a new rule. Do I need to renew my group member license? 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. 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. Which of the following is NOT a reporting requirement? Incumbents may not perform all of the listed duties and/or may be required to perform additional or different duties from those set forth below to address business needs and changing business practices. When an applicant is applying for an insurance contract, the statements he or she makes are generally not warranties, but representation. The partnership is liquidating. A. a. B. You can select each user individually to see more details. 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? Which of the following statements is false with respect to notices of information practices? The Bond. Which of the following is correct regarding prelicensing requirements? What are the two components of a universal policy? Because Audio Conferencing is dependent on Skype for Business, for any users with Audio Conferencing assigned, group-based licensing converts the Office 365 E3/E5 licenses to direct license assignment. Name some factors that can cause a shift in the demand curve in markets for goods and services. C Servicing. There is no action required from the customer to fix this issue. C. To minimize the insured's level of liability in the event of loss. Azure AD will retry processing the user license and will resolve the issue. Which of the following would help prevent a universal life policy from lapsing? A personal lines producer Which of the following is not true regarding the quadriceps muscle group? On the "Group type" page, select Microsoft 365, then click Next. a. This person presents what type of hazard? What is the maximum duration a Commission member is allowed to serve, as per Florida Statute? B. Which of the following is NOT consideration on the part of an insured? A. A. A. Here we are going to see a list of important SQL questions in MCQ style with an explanation of the answer for competitive exams and interviews. Due to the insured changing his/her occupation To reprocess a user, go to the user pane, open Licenses, and then select the Reprocess button on the toolbar. e. Unscrupulous licensees have been known to manufacture licensed products and sell them under different brand names A user has a license for Office 365 Enterprise E1 assigned directly, with all the plans enabled. Consider the following annualized rates for 3 -month Treasury yields and 10-year Treasury yields. To change information on your vehicle title, you need: Certificate of title (original only, no copies) A completed title amendment form. In this example, the conflicting service plans are: To solve this conflict, you need to disable one of the plans. Steven prints a pamphlet to advertise his life insurance business. In a life settlement contract, who does the life settlement broker represent? Certified Insurance Consultant, Which of the following statements is false regarding hearings? 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.. In forming of an insurance contract, this is referred to as (The insurer must be able to rely on the statements given by the insured in the application. Upon application for a life insurance policy containing accelerated LTC benefits. 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? C. to German speakers, angst is equivalent to . The insured must be able to rely on the insurer's promise to pay covered losses.). There is no action required from the customer to fix this issue. She has asked you to give her information about what determines the level of various interest rates. To find all groups that contain at least one error, on the Azure Active Directory blade select Licenses, and then select Overview. Return to the waiting times given for the physicians office in one of the previous exercies. Is exempt from licensure under F.S. Producers of broker Insurance must build a bond along with the application for license. Equal to. Protect the interests of life insurance and annuity purchasers b. Which of the following is TRUE regarding the accumulation period of an annuity? To unlock this lesson you must be a Study.com Member. If we select the item details, it shows the following error message: "License operation failed. Which of the following would be considered a nonmedical insurance application? The user has been added to a group that has the Office 365 Enterprise E3 product assigned to it. Insurers must acknowledge the receipt of a notice of a claim within: Which of the following is correct regarding a temporary license? All of the following are general requirements of a qualified plan EXCEPT. Exchange Online (Plan 2) conflicts with Exchange Online (Plan 1). Azure AD attempts to assign all licenses that are specified in the group to each user. With regard to licensee responsibilities, which of the following statements is NOT correct? D. Measured services. Add to folder b) toxin. B. Upfront license payments . The right to determine the wording of a policy. A spouse was granted a temporary license for her deceased husband's agency on March 1. Introducing Cram Folders! d. the rate of return on a policy. Temporary licenses are granted for an initial term of 6 months C. A temporary license does not allow the license to sell, solicit or negotiate new contracts Which of the following must an insurer obtain in order to transact insurance within a given state? A. 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? Mutual life Insurers must have $2,000,000 in surplus. We fully adhere to its Code of Cond 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. All rights reserved. Which of the following is true regarding the beneficiary designation of the former spouse. Cram has partnered with the National Tutoring Association, Risky Management: Homeland Security And Homeland Defense, Advantages And Limitations Of The Reinsurance Contract. Answer: . Braggs, once registered with the DBPR, will file for a pseudo number, not a valid real estate license number. There are a few rules that Bob and the managing partners of the other agencies must follow. A group self-insurer's termination of a member is not effective until: A At least 30 days after the termination notice has either been filed with the Board or sent by certified or registered letter and served in a similar manner upon the employer B At least 10 days after the termination notice has either been filed with the Board or sent by certified or registered letter and served in a . (Only stock insurance companies are owned and controlled by stockholders.). You have created 2 folders. ), A statement by the applicant that, upon discovery, would affect the underwriting decision of the insurance company. 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. * B) Coverage may be continued for up to 36 months for both a qualified beneficiary and a terminated employee. Private insurers may be authorized to transact insurance by state insurance departments. To reduce expenses and improve cash flow. B. Let's look at an example. Which of the following is not true regarding the hamstring muscle group? D. group credit insurance must have a suicide clause and a misstatement of age clause. B. Multiple vs Group License. A binder must be made in writing c. Greater than. Please sign in to share these flashcards. Performing a review of the agent's client's coverage. A price ceiling will result in a shortage; only if the ceiling 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. Which of the following is true regarding a single life settlement option? By the end of 2021, at least 130 bills had been introduced in 33 states to restrict the rights of transgender people. 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: CIt is issued by the state department of insurance. 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)? Create your account, 22 chapters | X, Y, and Z are partners. \hline All costs are controllable at some level within a company.