If Azure AD can't assign one of the products because of business logic problems, it won't assign the other licenses in the group either. C. Which of the following situations does not require the delivery of the Shopper's Guide? These licenses do not allow special permission to hold multiple licenses. Which of the following is NOT a type of whole life insurance? Kat has taught college Management and Hospitality Management and has a Master's degree in Organizational Leadership and Management. A participating insurance policy may do which of the following? A. The problem is immediately reported back to you. Under Licensed users, you see a list of all users who have had licenses assigned directly or via one or more groups. 1 . A master policy purchased by a chain of clothing stores b. Stock life insurers must have $1,000,000 in capital and $2,000,000 in surplus. You need to either purchase more licenses for the product or free up unused licenses from other users or groups. What is the requirement of state statute, in order for the Commission to action a proposal? An employee is insured under her employer's group life plan. Updating license assignment on a user causes the proxy address calculation to be triggered, which can change user attributes. C. Rapid elasticity. 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. Introducing Cram Folders! Which of the following statements is true regarding a work group? Which of the following statements is true regarding advertising of the Iowa Life and Health Guaranty Association? Why does making this change in calculating GDP provide a truer picture of the size of Nigerias economy? We fully adhere to its Code of Cond b It applies to bonds, information, and other intangibles. A. B. Which of the following would NOT be an eligible group for group life insurance? You must remove all licenses assigned to a group before you can delete the group. 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? You can assign more than one product license to a group. Create your account, 22 chapters | 3. 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. Question: Which of the following is true regarding Article 2 of the Uniform Commercial Code (UCC)? What is the maximum duration a Commission member is allowed to serve, as per Florida Statute? 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? C. Something that increases the chance of loss. \hline 2008 & 1.39 & 3.67 \\ A temporary license may be issued to the surviving spouse of a disabled or deceased producer Which authority is NOT stated in an agent's contract but is required for the agent to conduct business? a. Which of the following duties is part of the Commissions quasi-judicial responsibilities? Which of the following is true of a children's rider added to an insured's permanent life insurance policy? c It does not apply to contracts for the provision of services. It is a period during which payments into the annuity grow tax deferred. However, removing licenses from all the users in the group may take time. Therefore, answer B is more close to it. a) toxicant. If you use Exchange Online, some users in your organization might be incorrectly configured with the same proxy address value. C) If issued by the company, the company would be fined up to 3 times the premium received. People who have the A antigen normally would not produce the anti-A antibody. Losses are payable within 30 days of receipt of proof of loss, Who among the following is not exempt from continuing education requirements? 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? (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. Coverage ends and the policy cannot be reinstated. 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? Answer:A. An insured purchased an insurance policy 5 years ago. B. Mutual life Insurers must have $2,000,000 in surplus. In a single employer group plan, what is the name of the policy issued to the employer? 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. Appointed by the Governor, Which of the following statements is correct concerning Workers' Compensation? Which of the following best describes annually renewable term insurance? (c) Th; Which of the following is not a true statement? 1 to part 740 of the EAR): ( i) License Exception LVS ( 740.3 of the EAR); ( ii) License Exception TMP ( 740.9 of the EAR); How long will a real estate license that has been involuntarily inactive for, automatically expire, or be classed as null and void? Which of the following is NOT true regarding a Certificate of Authority? b. that the claim will be paid if the insurer becomes insolvent. a. B. C. Being liable with respect to payment of claims. But they weren't the only ones demanding action under the Gold Dome. Which of the following is NOT true regarding a Certificate of Authority. You're Beautiful Guitar Cover Acoustic - James Blunt |Tabs + Chords| FREE Chord & Songwriting Guitar eBook - https://www.guitarzero2hero.comWelcome to . Less than. At any given time, how would the yield curve facing a AAA-rated company compare with the yield curve for U.S. Treasury securities? B. lessons in math, English, science, history, and more. To make his group license happen, Braggs must file an affidavit with the DBPR that lists the legal company name used for the developments. 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? In fact, the agent has no such power.). Which of the following is NOT true regarding Equity Indexed Annuities? What does "level" refer to in level term insurance? 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. Multiple licenses give the broker the ability to hold the title of broker at numerous real estate agencies at the same time. For a change in risk substantially increasing the hazard, Which of the following statements is NOT correct concerning commissions? Which of the following is NOT true regarding a Certificate of Authority? What happens when a policy is surrendered for its cash value? Estate for Years: Overview & Examples | Estate for Years in Real Estate Definition, How the Statute of Frauds Applies to Real Estate Transactions. (Co-written with and signed by fourteen other VIPS listed below) MEMORANDUM FOR: U.S. Secretary of State John Kerry, and Foreign Minister of Russia Sergey Lavrov FROM: Veteran Intelligence Professionals for Sanity (VIPS) SUBJECT: Sarin Attack at Ghouta on Aug. 21, 2013 In a Memorandum of Oct. 1, 2013, we asked each of you to make public the intelligence upon which you based your differing . D. Promptly forwarding premiums to the insurance company. This insurance provides financial protection against physical damage and bodily injury resulting from traffic collisions. Name some factors that can cause a shift in the demand curve in markets for goods and services. Transcribed image text: Question 1 (1 point) Which of the following statements is NOT correct regarding markets? 50,000 . Before you can assign a license to a user, you must specify the Usage location property for the user. 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. PowerShell: PowerShell cmdlets report this error as CountViolation. This usually happens when a user is a member of more than one group with same assigned license. b. assumes a portion of the risk from another insurer. In reference to fixed annuities, what comprises most of a life insurance company's general account? Plus, get practice tests, quizzes, and personalized coaching to help you Handling insurer funds in a trust capacity. Which of the following is an example of apparent authority of an agent appointed by an insurer? 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. A temporary license for up to 12 months without having to pass an examination. What is the maximum amount of time that an application may be backdated? AIt may be necessary for transacting business in a specific state. A user has a license for Office 365 Enterprise E1 assigned directly, with all the plans enabled. A. The insurable risk needs to be statistically predictable. 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. What method do insurers use to protect themselves against catastrophic losses? All other trademarks and copyrights are the property of their respective owners. Which power did the Commission exercise? General & Special Agent Types in Real Estate | What is a Special Agent in Real Estate? a. To assign this add-on license to a group, we must ensure that the group also contains the prerequisite service plan. What type of annuity contract could your client obtain? D. is likely to end by 2017. The other insurer is called the "Assuming insurer.". The decision about how to resolve conflicting product licenses always belongs to the administrator. Which of the following statements are correct? Net Listing in Real Estate: Concept & Examples | What Is a Net Listing? 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 following is NOT an unfair claims practice? If the agent writes a policy for XYZ, which of the following would apply? Your boss has prepared some questions for you to consider. If only one party to an insurance contract has made a legally enforceable promise, what kind of contract is it? That was until several real estate entities learned about Bob's savvy sales techniques. Azure AD doesn't automatically resolve license conflicts. Is limited lines insurance This error occurs when Azure AD attempts to remove the underlying service plan. 30 days of the change b. A price ceiling will result in a shortage; only if the ceiling d. Louder than. These frequently asked SQL questions are given with the correct choice of answer among multiple options. It is intended to provide coverage on a date earlier than the date of the issuance of the policy. Feb. 2015. It is an equivalent of insurance license. 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.). Insurance is a contract by which one seeks to protect another from (Insurance will protect a person, business or entity from loss.). As a member, you'll also get unlimited access to over 88,000 copyright 2003-2023 Study.com. He wanted to have the flexibility to move sales associates and broker associates to each of his many developments. B. drives farmers to grow soybeans. The original age is used for premium determination. The agent puts up a sign with the insurer's logo without express permission. A. d. The number of units that could have been started and completed given the cost incurred. You can select each group for more details. Which of the following statements is true regarding the ABO blood system? Which of the following IS TRUE regarding the meaning of the word angst? 475. 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. 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. Who may work for a real estate owner developer? A. Braggs himself does not require any permit to sell his properties. a. Which of the statements is correct regarding membership on the Probable Cause Panel? A buy-sell agreement is simply a contract that establishes what will be done with a business in the event that an owner dies. e. Unscrupulous licensees have been known to manufacture licensed products and sell them under different brand names A binder cannot exceed 60 days, After a personal policy has been in effect for 60 days, the policy may not be cancelled: A. C. It is equivalent to an insurance license. What you need. A group license is done so that an owner or developer can move sales personnel around to different developments to sell homes or condos. Which of the following is TRUE regarding the interest earned on these investments? Draw a graph to illustrate your answer. Producers of broker Insurance must build a bond along with the application for license. This doctrine provides that an employee will pay taxes once he/she begins receiving economic benefits of an insurance-funded plan. All costs are controllable at some level within a company. 3-Real Estate License Law and Commission Rules. Which of the following statements about network economics is not true? C. To minimize the insured's level of liability in the event of loss. 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. Try refreshing the page, or contact customer support. 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"}}. Add-ons require a prerequisite service plan to be enabled for a user or a group before they can be assigned a license. Adverse selection is a concept best described as Risks with higher probability of loss seeking insurance more often than other risks. b. A. Certified Insurance Consultant, Which of the following statements is false regarding hearings? For example, consider a group that has Office 365 E3/E5 assigned with a Skype for Business service plan enabled. Landmark Homes, Incorporated, located in West Palm Beach, Florida, purchased eight plots of land throughout the county. Find out how you can intelligently organize your Flashcards. \end{array} Which of the following insurance providers would be considered a risk sharing arrangement? A master policy purchased by a condominium association, With respect to failure to remit premiums, which of the following statements is false? When would a 20-pay whole life policy endow? 30 days, Which of the following types of policies may NOT exclude coverage for losses caused by fire or other perils resulting from acts of terrorism? On May 1 she processed an application for life insurance on a new applicant. Which of the following is NOT the consideration in a policy? 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. Which of the following is NOT a reporting requirement? AzAnswer team is here with the right answer to your question. . The Bond. For example, Bob ''The Condo King'' Perlman owns and works at Bob's Big Time Condo Sales, Inc. located in Fort Lauderdale, Florida. The Commissioner may revoke or suspend a license without an opportunity for a hearing A sales associate or broker associate may have a "group license" in order to sell for all the entities owned by the owner/developer. D. It is issued by the state department of insurance. At any given time, how would the yield curve facing a BB-rated company compare with the yield curve for U.S. Treasury securities? Which of the following is a correct statement about group real estate licenses in Florida? Which of the following would be considered a nonmedical insurance application? What does "liquidity" refer to in a life insurance policy? The DBPR is in charge of licensing and regulating real estate and all other businesses that require licensing. Or, you need to modify the entire group license assignment and disable the plans in the E3 license. A salaried individual manages a condominium building and rents units 3month to 6month periods. A personal lines producer Option Contract Overview & Components | What is an Option Contract? Is exempt from licensure under F.S. We weren't able to detect the audio language on your flashcards. With regard to financial examinations by the Commissioner, the Commissioner: Must conduct a financial examination of an insurer at least once every 5 years. For example, you can assign Office 365 Enterprise E3 and Enterprise Mobility + Security to a group to easily enable all included services for users. The planned premium pays for mortality charges and expenses and any excess is returned to the policyowner. \hline If an applicant for a life insurance policy and person to be insured by the policy are two different people, the underwriter would be concerned about. A. 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. 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. Courts will interpret any ambiguity in and insurance contract (Insurance policies are contracts of adhesion. D. Something of value exchanged between parties. From what type of insurer did the insured purchase the policy? The insurer writes the contract and the insured accepts the contract as it is written. Now, an important thing to know is that the person interested in holding multiple licenses must be a broker. Problem: There aren't enough available licenses for one of the products that's specified in the group. Actual Notice in Real Estate: Types & Examples | What is Actual Notice? All rights reserved. * A) Coverage may be continued for up to 18 months for a qualified beneficiary and 36 months for a terminated employee. Answer: A. 24 (with 2 hours in ethics), Pre-Licensing Insurance Course Chapter 19 (Pa, Tennessee Laws and Departmental Rules Common, TEST 3 Superficial Venous Mapping & Chronic V, I NEED 120 QUESTION CORRECT TO PASS TEST WITH, CH. After you resolve any proxy address problems for the affected users, make sure to force license processing on the group to make sure that the licenses can now be applied. It is also possible to create a standalone group that contains only the minimum required products to make the add-on work. Which of the following statements is false with respect to . With respect to dependent handicapped children, which of the following is incorrect? price is ___________ the equilibrium price. Depending on what steps you've taken to resolve the errors, it might be necessary to manually trigger the processing of a user to update the users state. 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? Which of the following statements is correct with respect to the Doctrine of Economic Benefit? The contribution is known and the benefit is unknown. It is usually de 1. Participate in the planning and implementation of laboratory exercises and experiments; implement new or modified policies and procedures . Alternatively, you might decide to remove the E1 license from the user if it's redundant in the context of the E3 license. Which type of life insurance is written with a face amount of $3,000 or less? Which of the following must an insurer obtain in order to transact insurance within a given state? In the Microsoft 365 admin center, go to the Active groups page (underneath "Groups" in the left-hand navigation) and select Add a group. Which of the following statements is true regarding a plumber who has been appointed by a court to appraise a small business? It was released as the second single from the album in 2005. I would definitely recommend Study.com to my colleagues. Which of the following is TRUE regarding the accumulation period of an annuity? B. With regard to licensee responsibilities, which of the following statements is NOT correct? A binder must be made in writing Making derogatory oral statements about another insurance financial condition. (b) legal if the brokers have multiple licenses. \end{array} & \text{ 10-Year Yield (\\\%) } \\ The New York Superintendent has the responsibility to make sure each entity transacting insurance in this state remains solvent. Title Theory State | Rights, Differences & Purpose. Insurers must acknowledge the receipt of a notice of a claim within: Which of the following is correct regarding a temporary license? 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 . All owner (s) must sign the application. A. Within how many days must a licensee inform the FREC of their change of business address? An insurance producer cannot act as an insurer's agent unless that producer becomes appointed with the insurer Use =0.05\alpha=0.05=0.05 to test if the population correlation coefficient is significantly different from zero. (A warranty in insurance is a statement guaranteed to be true. What are the two components of a universal policy? The owner or developer must be in control of all of the developments in his portfolio that fall under the group license. We recommend that administrators set the correct usage location values on users before using group-based licensing to comply with local laws and regulations. What implications may this have for Partners X and Y? 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. 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. If a hearing is scheduled for a producer who has violated regulations regarding unfair trade practices, the Superintendent must send a prior notice within how many days of the hearing? b. C. forces corn prices down. Its like a teacher waved a magic wand and did the work for me. 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? Which of the following terms best describes what the insurer has violated? 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. B. The insured may choose to convert to term or permanent individual coverage. 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.