The original intent to license the user is never lost, but it's recorded in an error state for future investigation and resolution. It is issued by the state department of insurance. The New York Superintendent has the responsibility to make sure each entity transacting insurance in this state remains solvent. A. 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? In the Microsoft 365 admin center, go to the Active groups page (underneath "Groups" in the left-hand navigation) and select Add a group. A. Braggs himself does not require any permit to sell his properties. If the agent writes a policy for XYZ, which of the following would apply? Sales associates and broker associates register their licenses under that number and then can begin working for the developer. policy. (b) They may be loosely tied together in a committee. The contribution is known and the benefit is unknown. Choose a name for the group and, if you'd like to, enter a description. It is an equivalent of insurance license. Upon application for a life insurance policy containing accelerated LTC benefits. D. Measured services. Which of the following statements regarding the temporary insurance license is not correct? It may be necessary for transacting business in a specific state. Appointed by the State Senate and confirmed by the Governor Can a broker hold multiple real estate licenses? \hline 2005 & 3.21 & 4.29 \\ You can create multiple groups for each prerequisite service plan. All rights reserved. If a court ordered payment for a loss that was not covered in the policy even if it was clearly worded, it would be an example of which legal concept? and Partner Z is personally insolvent. 1 / 15. All of the following statements are correct regarding Credit Life Insurance EXCEPT Benefits are paid to the borrower's beneficiary. $4,500, With regard to the FAIR Plan, which of the following is false concerning agents? There is no action required from the customer to fix this issue. d. evidence of insurability is required with any change in premium. Study with Quizlet and memorize flashcards containing terms like Which of the following is NOT true regarding a Certificate of Authority? What does "liquidity" refer to in a life insurance policy? A. That pseudo number becomes the placeholder for sales associates and broker associates to register for the group license. Representations are statements that are true to the best of the applicant's knowledge.). B. CIt is issued by the state department of insurance. How does this z-score compare with the z-score you calculated before? Which of the following is a feature of a variable annuity? 2. Multiple Choice Questions. From the Profile blade, modify the usage location. A) Individuals working in a work group work on different objectives and are not dependent on each other. At times, it is possible for a life insurance agent to affect a savings of premium rates by backdating an application for life insurace. b) toxin. If we select the item details, it shows the following error message: "License operation failed. The beneficiary will receive the greater of the money paid into the annuity or the cash value. That's when several brokers approached Bob about holding multiple licenses. \hline 2001 & 3.47 & 5.02 \\ Which of the following are the authorities that an agent can hold? C. group credit life insurance does not build cash values. Certificates of Authority are renewed biennially by May 1, Which of the following statements is correct regarding cease and desist orders? Net Listing in Real Estate: Concept & Examples | What Is a Net Listing? A reinsurer is a company that. Consists of 4 separate muscles b. Which nonforfeiture option provides coverage for the longest period of time? An insurer invests the money it receives from premiums paid by its insureds. 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 sales associate may not be licensed or registered under a trade name. To assign this add-on license to a group, we must ensure that the group also contains the prerequisite service plan. Braggs, once registered with the DBPR, will file for a pseudo number, not a valid real estate license number. C) From a net; Which of the following statements is true regarding a centralized organization? (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 . 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.. Which of the following is correct regarding a temporary license? A. More than one product license assigned to a group. The paid-up addition option uses the dividend To purchase a smaller amount of the same type of insurance as the original policy. The user has been added to a group that has the Office 365 Enterprise E3 product assigned to it. 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? (Representation are statements made by an applicant that they believe to be true.). c. Greater than. Katy's license expired on September 30th. Answer:A. B. Which of the following is NOT consideration on the part of an insured? B. What is the major difference between a Stock Company and a Mutual Company? An applicant for a producer license must provide evidence of legal liability coverage for an amount of least: Which of the following statements is false with respect to requirements for rates? Handling insurer funds in a trust capacity. A A-3, B-4, C-2, D-1. People who have the A antigen normally would not produce the anti-A antibody. a. For example, you can assign Office 365 Enterprise E3 and Enterprise Mobility + Security to a group to easily enable all included services for users. Under Licensed users, you see a list of all users who have had licenses assigned directly or via one or more groups. It is in widespread usage on the World Wide Web due to its wide support and portability between applications and operating . Upon which of the following would a health benefit plan be permitted to base individual eligibility? A. Which of the following are part of the legal responsibility of maintaining an insurance license? Protect the interests of life insurance and annuity purchasers b. 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? The application given to a prospective insured. The number of policy cancellations by policyholder. B. So Bob must apply with the Florida Department of Business and Professional Regulation, also known as the DBPR. To increase control of claim reserving and claims settlements. What is the advantage of reinstating a policy instead of applying for a new one? Make sure that the group has necessary services before adding or removing a dependent service. D. It is issued by the state department of insurance. 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. Braggs did not want to lock each sales associate into one single development. Which of the following is not true regarding the quadriceps muscle group? Which authority is NOT stated in an agent's contract but is required for the agent to conduct business? 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. A tornado that destroys property would be an example of which of the following? The day's most visible group was Mothers Demand Action, members of which crowded the halls in a sea of red as they advocated lawmakers for gun control measures. Which of the following statements is false with respect to license renewals? If thats the case, you dont have to worry anymore. Which of the following is true of a children's rider added to an insured's permanent life insurance policy? What is a major problem with naming a trust as the beneficiary of a life insurance policy? C. From the Directory role blade, modify the directory role. B. Insurance companies may be classified according to the legal form of their ownership. A. C. To properly obtain a group license, Braggs and his associates need to do a few things. A main duty of the real estate commission is to? Which of the following statements is true regarding a work group? A. 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. The insurer credits the cash value in the policy with a current interest rate. To find all groups that contain at least one error, on the Azure Active Directory blade select Licenses, and then select Overview. Your email address will not be published. An information box is displayed when groups require your attention. 9. 190 lessons To unlock this lesson you must be a Study.com Member. Exchange Online (Plan 2) conflicts with Exchange Online (Plan 1). 3-Real Estate License Law and Commission Rules. b. that the claim will be paid if the insurer becomes insolvent. All of the following statements are true regarding a state regulatory agency's investigation, except: A. B. D. It may be necessary for transacting business in a specific state. c. The number of finished units actually completed this period. A) XYZ must issue the policy. A. 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. If you use Exchange Online, some users in your organization might be incorrectly configured with the same proxy address value. B. An applicant for a producer license must provide evidence of legal liability coverage for an amount of least: $20,000. Which of the following must an insurer obtain in order to transact insurance within a given state? Azure AD will retry processing the user license and will resolve the issue. 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. Series 6: Multiple choice questions (choose the best statement) Exercise 1. Which type of life insurance is written with a face amount of $3,000 or less? What is group-based licensing in Azure Active Directory? No real estate sales license is needed for the owner or developer. However, for tax purposes, a sales associate is allowed by law to form a professional corporation (PA), and in this case, the DBPR will issue the license in the licensee's actual (legal) name and include the entity designation (PA) after the licensee's legal name. Income tax on distributions and no penalty. When would a misrepresentation on the insurance application be considered fraud? Which of the following statements is true regarding examinations by the Commissioner? \hline 2004 & 1.40 & 4.27 \\ When the group is deleted, group-based licensing will try to remove Office 365 E3/E5 from all users. It may be necessary for transacting business in a specific state. B. B. For example, consider a group that has Office 365 E3/E5 assigned with a Skype for Business service plan enabled. 1. Steven prints a pamphlet to advertise his life insurance business. 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. Is exempt from licensure under F.S. Why does making this change in calculating GDP provide a truer picture of the size of Nigerias economy? group coverage IS NOT . We fully adhere to its Code of Cond 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. \hline 2008 & 1.39 & 3.67 \\ B. 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)? All owner (s) must sign the application. 2003-2023 Chegg Inc. All rights reserved. \hline 2007 & 4.47 & 4.63 \\ All of the following are general requirements of a qualified plan EXCEPT. A. A. (All insurers (domestic, foreign, or alien) must obtain a Certificate of Authority before transacting insurance within a given state. I hope you got the correct answer to your question. 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). Insurers may examine and audit an insured's records relating to this coverage for up to 3 years after a policy period expires Some service plans are configured in a way that they can't be assigned to the same user as another, related service plan. In recent years, ethanol production has increased rapidly. (Insurers use reinsurance to protect themselves from catastrophic losses. Question: After repairing his roof, Ralph jumped to the ground instead of using a ladder. Real Estate Express & Implied Agency | What are Express & Implied Agency? The authority granted to an agent through the agent's contract is referred to as. * B) Coverage may be continued for up to 36 months for both a qualified beneficiary and a terminated employee. The Manager. b) Health insurance: an insurance (CII study text on Liability insurances, 2016). Which of the following statements is false with respect to hearings? The right to determine the wording of a policy. | 21 Find out how you can intelligently organize your Flashcards. B. Which of the following IS TRUE regarding the meaning of the word angst? Holding multiple licenses is different than holding a group license in Florida real estate. B) Work groups primarily engage in collective work that requires joint effort. The premium amount paid at the time of application. \hline 2010 & 0.14 & 3.21 \\ Azure AD will retry processing the user license and will resolve the issue. Adverse selection is a concept best described as Risks with higher probability of loss seeking insurance more often than other risks. \hline Private insurers may be authorized to transact insurance by state insurance departments. That its policies are covered by a state Guaranty Association. A. A. At the same time, those users can be members of another group that gives them the full E3 product, and they still consume only one license for that product. A group license is much different than holding multiple licenses. Principal-Agent Relationship Roles & List | What is a Principal in Real Estate? D. To reduce expenses and improve cash flow. If she terminates her group coverage, which of the following statements is INCORRECT? How long will a real estate license that has been involuntarily inactive for, automatically expire, or be classed as null and void? A user has a license for Office 365 Enterprise E1 assigned directly, with all the plans enabled. What is the maximum amount of time that an application may be backdated? Or, you need to modify the entire group license assignment and disable the plans in the E3 license. The DBPR will issue a pseudo license number. What type of annuity contract could your client obtain? It contains a single service plan with the same name. * C) Coverage may be continued for up to 18 months for both . Please check below to know the answer. Hanging multiple broker's licenses works like this. Which of the following statements is true regarding advertising of the Iowa Life and Health Guaranty Association? Which of the following would be considered a nonmedical insurance application? 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. B. flashcard sets. Which of the following is true regarding the beneficiary designation of the former spouse. D. Promptly forwarding premiums to the insurance company. Only sales or broker associates, employed by a owner developer can receive a group license. passing laws to regulate the transfer of property. The agent puts up a sign with the insurer's logo without express permission. a. that a policy will be issued. Equal to. A temporary license may be issued to the surviving spouse of a disabled or deceased producer. One member must be a current member of the FREC, c. One member may be a previous Commission member. Insurance is a contract by which one seeks to protect another from (Insurance will protect a person, business or entity from loss.). For example, this can happen when you remove the user from the group. B. Please upgrade to Cram Premium to create hundreds of folders! D Material control. \hline 2003 & 1.03 & 4.02 \\ b. B. In Florida, a real estate broker who wishes to work for more than one entity can apply for multiple licenses. When group-based licensing tries to process concurrent license assignment of same license to a user, this exception is recorded on the user. To apply for multiple licenses, the broker must file with the Department of Business and Professional Regulations, or the DBPR, who is in charge of licensing and regulating real estate and all other businesses that require licensing. A. Browse Covers | YourCover backing tracks in MP3 format. Which of the following best describes taxation during the accumulation period of an annuity? Use evidence from your study of this Topic to support your answer. The application was processed without a valid license. Which observation is not true of the group of people who lead the development of a new product? Which authority is NOT stated in an agent's contract but is required for the agent to conduct business? 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? For example, after you resolve duplicate proxy address problem for an affected user, you need to trigger the processing of the user. Cram has partnered with the National Tutoring Association, Risky Management: Homeland Security And Homeland Defense, Advantages And Limitations Of The Reinsurance Contract. Food processors with contracts with farmers to grow crops such as peas and sweet corn have been forced to pay higher prices to keep their supplies secure. Certified Insurance Consultant, Which of the following statements is false regarding hearings? He wanted to have the flexibility to move sales associates and broker associates to each of his many developments. To reduce expenses and improve cash flow. b. In fact, the agent has no such power.). To be able to shift sales staff around, Braggs would have to apply for a group license for his sales staff. To solve this problem, remove users from unsupported locations from the licensed group. ), A statement by the applicant that, upon discovery, would affect the underwriting decision of the insurance company. 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. Less than. Which of the statements is correct regarding membership on the Probable Cause Panel? Coverage ends and the policy cannot be reinstated. The trust that a client places in the producer in regard to handling premiums. b. 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.). In a life settlement contract, who does the life settlement broker represent? B. A. It can the be used to license only selected users for the add-on product. Add-ons require a prerequisite service plan to be enabled for a user or a group before they can be assigned a license. To minimize the insured's level of liability in the event of loss. C. It is issued to group insurance participants. Under the COBRA rules for employer group health insurance, which of the following statements is CORRECT? C. To increase control of claim reserving the claims settlements. (An agent represents the principle, acting on the entity's behalf in contractual agreements with third parties.). Which of the following statements is correct with respect to the Doctrine of Economic Benefit? 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. 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. The insurer writes the contract and the insured accepts the contract as it is written. Perfectly happy with his profits, Bob did not consider holding multiple licenses. Premiums are determined by the age, sex, and occupation of each individual certificate holder. What method do insurers use to protect themselves against catastrophic losses? What privilege does the insured have in order to balance this order? 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? 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. 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). Critics say that the subsidies are a waste of money, that corn-based supply enough energy to reduce oil imports, and that usingethanol cannot food crops for fuel causes other problems. This year, she did not receive a check from the insurer. PowerShell: PowerShell cmdlets report this error as DependencyViolation. "You're Beautiful" on YouTube [a] " You're Beautiful " is a song by English singer-songwriter James Blunt. Estate for Years: Overview & Examples | Estate for Years in Real Estate Definition, How the Statute of Frauds Applies to Real Estate Transactions. B. 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? General & Special Agent Types in Real Estate | What is a Special Agent in Real Estate? Multiple licenses refer to a broker's right to work for multiple entities. This usually happens when a user is a member of more than one group with same assigned license. Handling insurer funds in a trust capacity. D. The agent accepts a premium payment during the grace period. Introducing Cram Folders! Which policy component fluctuates depending on the policy type? Which of the following is NOT an essential element of an insurance contract? 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. In case of a loss, the indemnity provision in insurance policies does what? There must be a majority vote of 4 Commission members. 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: A binder cannot exceed 60 days, After a personal policy has been in effect for 60 days, the policy may not be cancelled: Members of the public flooded the State Capitol again on Tuesday. While removing license assignments from a group, there can be failures if user has a dependent license assigned or if there is a proxy address conflict issue which prohibits the license removal. With two legislative days remaining until Crossover Day, legislators and lobbyists spent all . 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 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. What documentation grants express authority to an agent? Option Contract Overview & Components | What is an Option Contract? A. Which of the statements is correct regarding membership on the Probable Cause Panel? An error occurred trying to load this video. This option offers more flexibility. 1)Option b 2)Option b . Which of the following is false regarding financial requirements applicable to insurers in Connecticut? d. Louder than. . Which of the following is a statement that is guaranteed to be true, and if untrue, may breach an insurance contract? 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. Which of the following is correct regarding prelicensing requirements? Which of the following would NOT be an eligible group for group life insurance? 30 days of the change b. Now, an important thing to know is that the person interested in holding multiple licenses must be a broker. Stock life insurers must have $1,000,000 in capital and $2,000,000 in surplus. For example, Bob ''The Condo King'' Perlman owns and works at Bob's Big Time Condo Sales, Inc. located in Fort Lauderdale, Florida. C. Being liable with respect to payment of claims.
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