(Paying off debt) What type of insurance would be most affordable and still provide a death benefit should one of them die? It provides income the beneficiary cannot outlive. 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"}}. When the group is deleted, group-based licensing will try to remove Office 365 E3/E5 from all users. (An agent represents the principle, acting on the entity's behalf in contractual agreements with third parties.). They earn lower interest rates than fixed annuities. Get unlimited access to over 88,000 lessons. An agent holds a license and sells insurance for several companies, but is not appointed with company XYZ. A. the word carries the same meaning in both the English and German languages. e. Unscrupulous licensees have been known to manufacture licensed products and sell them under different brand names A salaried individual manages a condominium building and rents units 3month to 6month periods. You can select each user individually to see more details. Office 365 Enterprise E3 with only the Exchange Online (Plan 2) service plan enabled. Who might receive dividends from a mutual insurer? 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. Protect the interests of life insurance and annuity purchasers b. c. the policy owner can make policy changes without difficulty. When group-based licensing tries to process concurrent license assignment of same license to a user, this exception is recorded on the user. 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. Problem: User has LicenseAssignmentAttributeConcurrencyException for license assignment in audit logs. Eventually, these costs will appear in the prices of frozen and canned vegetables. Which of the following types of policies are exempt from the state replacement regulations? PowerShell: PowerShell cmdlets report this error as CountViolation. B) Work groups primarily engage in collective work that requires joint effort. Which of the following is the closest term to an "authorized" insurer? 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 (The binding force in any contract is consideration.). 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. From what type of insurer did the insured purchase the policy? This usually happens when a user is a member of more than one group with same assigned license. He hires his son but he is NOT license to sell lots.Father offers son a salary of $200 per week. 475. Which authority is NOT stated in an agent's contract but is required for the agent to conduct business? View the full answer. Which of the following would help prevent a universal life policy from lapsing? price is ___________ the equilibrium price. Which of the following is NOT the consideration in a policy? Which of the following is NOT a type of whole life insurance? With respect to concealment or fraud in conjunction with the standard fire policy, which of the following is NOT correct? B. Considered true to the best of the applicant's knowledge. An agent accepts the premium payment 35 days after it is due, telling the insured that there will not be a problem keeping the policy in force. D. The agent accepts a premium payment during the grace period. A handicapped dependent child may be covered under a parent's policy up to age 30. 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. It is issued by the state department of insurance. What does "liquidity" refer to in a life insurance policy? Handling insurer funds in a trust capacity. 1 / 15. c. Greater than. A. Your email address will not be published. Appointed by the Governor, Which of the following statements is correct concerning Workers' Compensation? Which of the following is NOT consideration on the part of an insured? Use =0.05\alpha=0.05=0.05 to test if the population correlation coefficient is significantly different from zero. Which of the following individuals must have insurable interest in the insured? While the Fed controls short-term interest rates, long-term interest rates essentially depend on supply/demand dynamics, as well as longer-term interest rate expectations. We fully adhere to its Code of Cond A. Which of the following statements are correct? Which statement is correct as per licensing law and regulations? Which of the following is a correct statement about group real estate licenses in Florida? All of the following statements are true regarding a state regulatory agency's investigation, except: A. Under Licensed groups, you see all groups that have that products assigned. Which of the following is true regarding the beneficiary designation of the former spouse. (Mutual companies are owned by policyholders, while stock companies are owner by stockholders. 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. What is group-based licensing in Azure Active Directory? We can only assign this service plan to a user, or group, when one of the following prerequisites is also assigned: If we try to assign this product on its own to a group, the portal returns a notification message. Add to folder At any given time, how would the yield curve facing a BB-rated company compare with the yield curve for U.S. Treasury securities? There is a specific section of the DBPR website where the sales associate and the developer complete the necessary forms. However, since he has so many units and homes to sell, he will need the assistance of a few associates. In what way can an agent demonstrate a high standard of ethics? d. evidence of insurability is required with any change in premium. Plus, get practice tests, quizzes, and personalized coaching to help you What is the maximum duration a Commission member is allowed to serve, as per Florida Statute? For example, you can assign Office 365 Enterprise E3 and Enterprise Mobility + Security to a group to easily enable all included services for users. Representations are statements that are true to the best of the applicant's knowledge.). c . Members of the public flooded the State Capitol again on Tuesday. 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. Which of the following is not true regarding the hamstring muscle group? You have created 2 folders. It helped me pass my exam and the test questions are very similar to the practice quizzes on Study.com. To see which users and groups are consuming licenses, select a product. Series 6: Multiple choice questions (choose the best statement) Exercise 1. The contribution is known and the benefit is unknown. B. There must be a majority vote of 4 Commission members. Which of the following statements is true regarding the ABO blood system? That pseudo number becomes the placeholder for sales associates and broker associates to register for the group license. Please upgrade to Cram Premium to create hundreds of folders! c. cedes the risk. 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. Return to the waiting times given for the physicians office in one of the previous exercies. DIt is issued to group insurance participants., An insurance company has published a brochure . The government pays subsidies to companies that produce ethanol, a fuel made from corn. Installing deadbolt locks on the doors of a home is an example of which method of handling risk? Exchange Online (Plan 2) conflicts with Exchange Online (Plan 1). A real estate broker may be issued multiple licenses under certain circumstances. 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.. Publication Ethics Statement. Which of the following situations does not require the delivery of the Shopper's Guide? A tornado that destroys property would be an example of which of the following? 190 lessons But they weren't the only ones demanding action under the Gold Dome. lessons in math, English, science, history, and more. 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). References: A) XYZ must issue the policy. If thats the case, you dont have to worry anymore. 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? Mutual life Insurers must have $2,000,000 in surplus. b. assumes a portion of the risk from another insurer. What is the advantage of reinstating a policy instead of applying for a new one? e. The number of units in the process at the end of the period. Upon which of the following would a health benefit plan be permitted to base individual eligibility? d. It involves slightly more risk to the licensee than licensor. B. Which type of life insurance is written with a face amount of $3,000 or less? Agents may handle applications and assist applicants providing the applicant has tried to secure coverage with a standard insurer and certifies that he/she was unable to obtain such coverage, With regard to the Dwelling Endorsement, DP 01 06, which of the following statements is false? C. From the Directory role blade, modify the directory role. Last year, she received a dividend check from the insurance company that was not taxable. It is issued to group insurance participants. This doctrine provides that an employee will pay taxes once he/she begins receiving economic benefits of an insurance-funded plan. C. succeed. 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? 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. Which of the following would NOT be an eligible group for group life insurance? A. Best Answer. by JayDJohnson, B. It contains a single service plan with the same name. For example, after you resolve duplicate proxy address problem for an affected user, you need to trigger the processing of the user. This rider is available to all insureds with no additional premium. Easement Appurtenant Features & Examples | What is an Easement in Real Estate? Which of the following statements is NOT correct concerning policy loans? Producers of broker Insurance must build a bond along with the application for license. A sales associate or broker associate may have a "group license" in order to sell for all the entities owned by the owner/developer. Constructive Notice in Real Estate Overview & Law | What is Constructive Notice? C) If issued by the company, the company would be fined up to 3 times the premium received. A. The beneficiary will receive the greater of the money paid into the annuity or the cash value. Alternatively, if the current usage location values don't represent the actual user location, you can modify them so that the licenses are correctly assigned next time (if the new location is supported). (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. A temporary license for up to 12 months without having to pass an examination. A) Uber is an example of a business model that is based on the principle of network economics. It is term coverage that is convertible to permanent insurance at or prior to the child reaching the maximum coverage age. Katy's license expired on September 30th. A limited lines producer is authorized to sell all of the following, except: Which of the following statements is false? b. Equal to. \hline 2007 & 4.47 & 4.63 \\ group coverage IS NOT . Consists of 4 separate muscles b. 24 (with 3 hours in ethics) We recommend that administrators set the correct usage location values on users before using group-based licensing to comply with local laws and regulations. The owner or developer must be in control of all of the developments in his portfolio that fall under the group license. It may be necessary for transacting business in a specific state. 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. A. How does this z-score compare with the z-score you calculated before? With regard to licensee responsibilities, which of the following statements is NOT correct? Which of the following insurers are owned by stockholders who have the usual rights of ownership, including the right of voting? Multiple licenses refer to a broker's right to work for multiple entities. Answer: . $4,500, With regard to the FAIR Plan, which of the following is false concerning agents? (c) Th; Which of the following is not a true statement? The plan must provide an offset for social security benefits. A group license is much different than holding multiple licenses. Please select the correct language below. An applicant for a resident producer license who was previously licensed for the same line in this state within the past 90 days, 4. A sales associate or broker associate may have a "group license" in order to sell for all the entities owned by the owner/developer. 9. Question: After repairing his roof, Ralph jumped to the ground instead of using a ladder. A toxic substance produced by biological system is specially referred to as a ------. You can select your choice and check it instantly to see the answer with an explanation. Premiums are determined by the age, sex, and occupation of each individual certificate holder. D. It is issued by the state department of insurance. A. A sales associate may not be licensed or registered under a trade name. The planned premium pays for mortality charges and expenses and any excess is returned to the policyowner. 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? To create a Microsoft 365 group: 1. What happens when a policy is surrendered for its cash value? The agent has business cards and stationery printed. Consider the following annualized rates for 3 -month Treasury yields and 10-year Treasury yields. C. To minimize the insured's level of liability in the event of loss. 10 days a) toxicant. Group-based licensing in Azure Active Directory (Azure AD), part of Microsoft Entra, introduces the concept of users in a licensing error state. \hline 2005 & 3.21 & 4.29 \\ \hline 2010 & 0.14 & 3.21 \\ In insurance policies, contract ambiguities are automatically ruled in the favor of the insured. A user has a license for Office 365 Enterprise E1 assigned directly, with all the plans enabled. The DBPR will issue a pseudo license number. Which of the following is a statement that is guaranteed to be true, and if untrue, may breach an insurance contract? Which of the following IS TRUE regarding the meaning of the word angst? Which of the following statements is true regarding the cash value in a Universal life policy? D. group credit insurance must have a suicide clause and a misstatement of age clause. copyright 2003-2023 Study.com. B. Which of the following statements is an accurate comparison between private and government insurers? This website helped me pass! 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 . Actual Notice in Real Estate: Types & Examples | What is Actual Notice? Equivalent units of production are equal to The plan must provide an offset for social security benefits. Braggs himself does not require any permit to sell his properties. Estate for Years: Overview & Examples | Estate for Years in Real Estate Definition, How the Statute of Frauds Applies to Real Estate Transactions. We'll bring you back here when you are done. 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. Q. What implications may this have for Partners X and Y? 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. 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. D. It may be necessary for transacting business in a specific state. A price ceiling will result in a shortage; only if the ceiling Who among the following would be exempt from a written examination? \hline 2008 & 1.39 & 3.67 \\ Which of the following must an insurer obtain in order to transact insurance within a given state? The paid-up addition option uses the dividend To purchase a smaller amount of the same type of insurance as the original policy. Which observation is not true of the group of people who lead the development of a new product? Sales associates and broker associates register their licenses under that number and then can begin working for the developer. So Bob must apply with the Florida Department of Business and Professional Regulation, also known as the DBPR. Act to protect the best interests of authorized insurers. c. that dividends will be paid. Acceptance takes place when an insurer's underwriter approves the application and issues a policy.). Browse Covers | YourCover backing tracks in MP3 format. A. 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. C. Rapid elasticity. Which of the following is TRUE regarding the interest earned on these investments? How long will a real estate license that has been involuntarily inactive for, automatically expire, or be classed as null and void? The insurer credits the cash value in the policy with a current interest rate. d. the rate of return on a policy. Real Estate Client vs. An error occurred trying to load this video. B. Which of the following statements is correct with respect to the Doctrine of Economic Benefit? The DBPR is in charge of licensing and regulating real estate and all other businesses that require licensing. Serve to extend the knee c. Covered by the vastus fascia d. Located in anterior compartment of the thigh 10. At times, it is possible for a life insurance agent to affect a savings of premium rates by backdating an application for life insurace. D Material control. Replacement parts to be used that are not manufactured by the original manufacturer may not be used It is an equivalent of insurance license. In this article, we explain the reasons why users might end up in this state. 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. 4. Please sign in to share these flashcards. It is also possible to create a standalone group that contains only the minimum required products to make the add-on work. He wanted to have the flexibility to move sales associates and broker associates to each of his many developments. Hanging multiple broker's licenses works like this. Which of the following insurance providers would be considered a risk sharing arrangement? Document C shows that the ethanol boom A. results in higher food prices. Which of the following statements is true regarding examinations by the Commissioner? D Commingling premiums with agent's personal funds. 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? What is the purpose of a conditional receipt? flashcard sets. We're . Which of the following statements is true regarding a plumber who has been appointed by a court to appraise a small business? AIt may be necessary for transacting business in a specific state. In fact, the agent has no such power.). It may be necessary for transacting business in a specific state. A. Find out how you can intelligently organize your Flashcards. Let's consider the following example: Microsoft Workplace Analytics is an add-on product. Holding multiple licenses is different than holding a group license in Florida real estate. D. Measured services. In reference to fixed annuities, what comprises most of a life insurance company's general account? b. Give some examples of transactions that would be recorded in the Other Accounts CR column of the cash receipts journal. All other trademarks and copyrights are the property of their respective owners. Some Microsoft Online products you might own are add-ons. Agents have binding authority Which of the statements is correct regarding membership on the Probable Cause Panel? What type of annuity contract could your client obtain? .. . C. It is equivalent to an insurance license. (Representation are statements made by an applicant that they believe to be true.). For example, Bob ''The Condo King'' Perlman owns and works at Bob's Big Time Condo Sales, Inc. located in Fort Lauderdale, Florida. Insurers may examine and audit an insured's records relating to this coverage for up to 3 years after a policy period expires [Related to the Apply the Concept on page 652]An article in the Economist on the revisions to Nigerias GDP commented: The GDP revision is not mere trickery. Which power did the Commission exercise? B. 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.). All costs are controllable at some level within a company. These licenses do not allow special permission to hold multiple licenses. Due to the insured changing his/her occupation Obtain a list of all life insurance policies that will be replaced. Producer licenses expire every 2 years (biennially) on the producer's birth date. You can create multiple groups for each prerequisite service plan. A. C. The agent accepts a premium payment after the end of the grace period. 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. A. It was released as the second single from the album in 2005. A long-term care policy must be optionally renewable. Introducing Cram Folders! A. Are you looking for the correct answer to the question Which of the following is NOT true regarding a Certificate of Authority?? B. Express Authority. On May 1 she processed an application for life insurance on a new applicant. (A peril is the cause of loss insured against in an insurance policy.). The New York Superintendent has the responsibility to make sure each entity transacting insurance in this state remains solvent. 2 . A group license applies to an owner/land developer. 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. b. that the claim will be paid if the insurer becomes insolvent. The other insurer is called the "Assuming insurer.". If the agent writes a policy for XYZ, which of the following would apply? Perfectly happy with his profits, Bob did not consider holding multiple licenses. Which of the following is true of a children's rider added to an insured's permanent life insurance policy? a. * B) Coverage may be continued for up to 36 months for both a qualified beneficiary and a terminated employee. a. premiums are fixed for the first 5 years. What else must he include? Because an insurance policy is a legal contract, it must conform to the state laws governing contracts which require all of the following elements EXCEPT An insurer neglects to pay a legitimate claim that is covered under the terms of the policy. \hline 2009 & 0.15 & 3.26 \\ A buy-sell agreement is simply a contract that establishes what will be done with a business in the event that an owner dies. That's when several brokers approached Bob about holding multiple licenses. For this reason, the errors can't be communicated to you immediately. a. that a policy will be issued. 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. It can the be used to license only selected users for the add-on product. A group license is much different than holding multiple licenses. A. The article also includes information on how to connect to Exchange Online by using remote PowerShell. Answer: A. A live proctor will monitor you. We weren't able to detect the audio language on your flashcards. The above question Which of the following is NOT true regarding a Certificate of Authority?, Was part of Insurance MCQs & Answers.