Buy-sell agreements are normally funded with a life insurance policy. This error occurs when Azure AD attempts to remove the underlying service plan. * B) Coverage may be continued for up to 36 months for both a qualified beneficiary and a terminated employee. (b) legal if the brokers have multiple licenses. (c) Th; Which of the following is not a true statement? Insurers must acknowledge the receipt of a notice of a claim within: Which of the following is correct regarding a temporary license? We fully adhere to its Code of Cond Which of the following is true regarding the beneficiary designation of the former spouse. When a producer's check is returned and remains outstanding 30 days following receipt of such return, the insurer must report to the Commissioner When would a misrepresentation on the insurance application be considered fraud? (A warranty in insurance is a statement guaranteed to be true. Which of the following statements is true regarding a work group? A. Find out how you can intelligently organize your Flashcards. Answer:A. An applicant for a producer license must provide evidence of legal liability coverage for an amount of least: $20,000. I highly recommend you use this site! Which of the following may NOT be included in an insurance company's advertisement? Stock life insurers must have $1,000,000 in capital and $2,000,000 in surplus. Certified Insurance Consultant, Which of the following statements is false regarding hearings? Instead, they're recorded on the user object and then reported via the administrative portal. Handling insurer funds in a trust capacity. Which of the following is TRUE regarding the accumulation period of an annuity? Which of the following is NOT a characteristic of an insurable risk? 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? 190 lessons The application given to a prospective insured. When Azure AD assigns group licenses, any users without a specified usage location inherit the location of the directory. a. Which of the following is correct regarding a temporary license? B Identification of customer need. c. Greater than. Get unlimited access to over 88,000 lessons. 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? Please check the appropriate boxes and fill in all the required information. D Material control. Which of the following insurance providers would be considered a risk sharing arrangement? B. Question: After repairing his roof, Ralph jumped to the ground instead of using a ladder. A master policy purchased by a condominium association, With respect to failure to remit premiums, which of the following statements is false? B. Primary vs. Twin brothers are starting a new business. Insurers may examine and audit an insured's records relating to this coverage for up to 3 years after a policy period expires It was released as the second single from the album in 2005. X, Y, and Z are partners. \hline 2003 & 1.03 & 4.02 \\ 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. .. . 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 . What documentation grants express authority to an agent? Alternatively, you might decide to remove the E1 license from the user if it's redundant in the context of the E3 license. B. The article also includes information on how to connect to Exchange Online by using remote PowerShell. How long will a real estate license that has been involuntarily inactive for, automatically expire, or be classed as null and void? c. that dividends will be paid. 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. (A peril is the cause of loss insured against in an insurance policy.). Which of the following is true of a children's rider added to an insured's permanent life insurance policy? It can the be used to license only selected users for the add-on product. A. To create a Microsoft 365 group: 1. What else must he include? What is the major difference between a Stock Company and a Mutual Company? To reduce expenses and improve cash flow. Certified Insurance Consultant, What is the notice requirement if an insurer is not renewing an auto policy? You need to either purchase more licenses for the product or free up unused licenses from other users or groups. Add to folder 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? In a single employer group plan, what is the name of the policy issued to the employer? A. 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. Which of the following are part of the legal responsibility of maintaining an insurance license? The insurer credits the cash value in the policy with a current interest rate. When transacting business in this state an insurer formed under the laws of another country is known as a/an (Alien insurer is defined as an insurer formed under the laws of another country.). \end{array} & \text{ 10-Year Yield (\\\%) } \\ \text{ Yield (\\\%) } It helped me pass my exam and the test questions are very similar to the practice quizzes on Study.com. A real estate broker may be issued multiple licenses under certain circumstances. The right to determine the wording of a policy. You can select each user individually to see more details. You can assign more than one product license to a group. Find out how you can intelligently organize your Flashcards. 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? That was until several real estate entities learned about Bob's savvy sales techniques. Select the box to see a list of all groups with errors. At any given time, how would the yield curve facing a BB-rated company compare with the yield curve for U.S. Treasury securities? What is the maximum duration a Commission member is allowed to serve, as per Florida Statute? a It does not apply to contracts for the sale of goods. A. c . In fact, the agent has no such power.). b) toxin. A price ceiling will result in a shortage; only if the ceiling 19. Let's look at an example. Which of the following is NOT consideration on the part of an insured? A. Which of the following individuals must have insurable interest in the insured? Handling insurer funds in a trust capacity. How does this z-score compare with the z-score you calculated before? B. Public adjusters may not qualify for a license in Property and Casualty. What does "liquidity" refer to in a life insurance policy? [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. This is done to ensure that any users who are added to the group can receive the fully working product. B. To make his group license happen, Braggs must file an affidavit with the DBPR that lists the legal company name used for the developments. A. This insurance provides financial protection against physical damage and bodily injury resulting from traffic collisions. Which of the following are the authorities that an agent can hold? All costs are controllable at some level within a company. You can assign more than one product license to a group. Azure AD doesn't automatically resolve license conflicts. Agents have binding authority B. b. that the claim will be paid if the insurer becomes insolvent. A binder cannot exceed 60 days, After a personal policy has been in effect for 60 days, the policy may not be cancelled: Have a great time ahead. The annuitant assumes the risk on investment. Last year, the couple got divorced. a. that a policy will be issued. Landmark Homes, Incorporated, located in West Palm Beach, Florida, purchased eight plots of land throughout the county. 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)? The owner or developer must be in control of all of the developments in his portfolio that fall under the group license. B. Title Theory State | Rights, Differences & Purpose. Choose a name for the group and, if you'd like to, enter a description. Enrolling in a course lets you earn progress by passing quizzes and exams. C. Rapid elasticity. Which of the following is an example of an agent's fiduciary responsibilities? Benefit payment amounts are not guaranteed. This memorandum surveys U.S. economic sanctions and anti-money laundering ("AML") developments and trends in 2022 and provides an outlook for 2023. For example, this can happen when you remove the user from the group. When an individual purchases insurance, what risk management technique is he or she practicing. Azure AD will retry processing the user license and will resolve the issue. What does "level" refer to in level term insurance? (Insurers who meet the state's financial requirements and are approved to transact business in the state are considered authorized or admitted into the state as a legal insurer.). Which of the following statements is true regarding examinations by the Commissioner? Introducing Cram Folders! succeed. Private insurers may be authorized to transact insurance by state insurance departments. \text { 3-Month } \\ Holding multiple licenses is different than holding a group license in Florida real estate. Who among the following would be exempt from a written examination? Which of the following is the basis for a claim against an insurance policy? Which of the following is the closest term to an "authorized" insurer? This lets you distribute the add-on to E1 and E3 users without consuming additional licenses. B. (Insurers use reinsurance to protect themselves from catastrophic losses. a. Construct and interpret a scatterplot of a 10-year treasury yield against a 3-month yield. B) The agent will guarantee the policy. 1 / 15. (Mutual companies are owned by policyholders, while stock companies are owner by stockholders. Which of the following is NOT the consideration in a policy? Which of the following statements is correct with respect to the Doctrine of Economic Benefit? 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. (The binding force in any contract is consideration.). Which of the following statements is true regarding the ABO blood system? What is a major problem with naming a trust as the beneficiary of a life insurance policy? Guitar Tabs. What you need. Under the COBRA rules for employer group health insurance, which of the following statements is CORRECT? Only sales or broker associates, employed by a owner developer can receive a group license. Which of the following is NOT an essential element of an insurance contract? What type of insurance would be used for a Return of Premium rider? A. One member must be a current member of the FREC, c. One member may be a previous Commission member. A buy-sell agreement is simply a contract that establishes what will be done with a business in the event that an owner dies. b. 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? (Paying off debt) What type of insurance would be most affordable and still provide a death benefit should one of them die? Transcribed image text: Question 1 (1 point) Which of the following statements is NOT correct regarding markets? Let's consider the following example: Microsoft Workplace Analytics is an add-on product. \hline \text { Year } & \begin{array}{c} These frequently asked SQL questions are given with the correct choice of answer among multiple options. Insurance companies may be classified according to the legal form of their ownership. price is ___________ the equilibrium price. As a member, you'll also get unlimited access to over 88,000 Who might receive dividends from a mutual insurer? C. To minimize the insured's level of liability in the event of loss. A. \hline 2005 & 3.21 & 4.29 \\ A group license applies to an owner/land developer. Which observation is not true of the group of people who lead the development of a new product? Updating license assignment on a user causes the proxy address calculation to be triggered, which can change user attributes. d It applies to. $4,000 d. It involves slightly more risk to the licensee than licensor. When group-based licensing tries to process concurrent license assignment of same license to a user, this exception is recorded on the user. Rising feed prices are also hitting the livestock and poultry industries. You can create multiple groups for each prerequisite service plan. 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 is NOT the consideration in a policy? 2003-2023 Chegg Inc. All rights reserved. (When insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.). Name some factors that can cause a shift in the demand curve in markets for goods and services. C. Offering additional coverage to his client. When the group is deleted, group-based licensing will try to remove Office 365 E3/E5 from all users. By putting the client's best interest before their own. Performing a review of the agent's client's coverage. b It applies to bonds, information, and other intangibles. Estate for Years: Overview & Examples | Estate for Years in Real Estate Definition, How the Statute of Frauds Applies to Real Estate Transactions. Less than. Therefore, answer B is more close to it. A reinsurer is a company that. 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? D. It is issued by the state department of insurance. This usually happens when a user is a member of more than one group with same assigned license. Problem: There aren't enough available licenses for one of the products that's specified in the group. \hline 2010 & 0.14 & 3.21 \\ (The originating company that procures insurance on itself in another insurer is called the "Ceding insurer." 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. B. B. (b) They may be loosely tied together in a committee. Publication Ethics Statement. A life policy may not be backdated more than: The duration of the grace period for life insurance policies is: A surplus lines producer sells insurance for: Which of the following statements is false concerning adjusters? Which of the following correctly describes an Apprentice Adjuster's license? C. to German speakers, angst is equivalent to . A sales associate or broker associate may have a "group license" in order to sell for all the entities owned by the owner/developer. Maria Juarez is a professional tennis player, and your firm manages her money. Multiple Choice Questions. A limited lines producer is authorized to sell all of the following, except: Which of the following statements is false? 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. 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. Study with Quizlet and memorize flashcards containing terms like A producer must inform the Commissioner of a change of address within: a. Write an essay on the Essential Question: What is the proper role of the government in the economy? The plan must provide an offset for social security benefits. In insurance policies, contract ambiguities are automatically ruled in the favor of the insured. A. A. One member must be a current member of the FREC, c. One member may be a previous Commission member. All of the following are general requirements of a qualified plan EXCEPT. AIt may be necessary for transacting business in a specific state. Which of the following is NOT allowed regarding the disclosure of personal information? A tornado that destroys property would be an example of which of the following? 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. Return to the waiting times given for the physicians office in one of the previous exercies. Or, you need to modify the entire group license assignment and disable the plans in the E3 license. 1 . When you're using group-based licensing, the same errors can occur, but they happen in the background while the Azure AD service is assigning licenses. A notification appears if there are any users in an error state. Browse Covers | YourCover backing tracks in MP3 format. Document C shows that the ethanol boom A. results in higher food prices. Secondary Mortgage Market | Differences, Role & Examples. Multiple licenses refer to a broker's right to work for multiple entities. All of the following are marketing arrangements used by insurers EXCEPT An insured committed suicide one year after his life insurance policy was issued. (All insurers (domestic, foreign, or alien) must obtain a Certificate of Authority before transacting insurance within a given state. Upon application for a life insurance policy containing accelerated LTC benefits. Upgrade to Microsoft Edge to take advantage of the latest features, security updates, and technical support. Which of the following duties is part of the Commissions quasi-judicial responsibilities? Katy's license expired on September 30th. Police Power in Real Estate Significance & Examples | What is Police Power? The only ABO type blood that normally does not have either A or B antigens . $4,500, With regard to the FAIR Plan, which of the following is false concerning agents? Whether an insurable interest exists between the individuals. Which of the following is NOT true regarding a Certificate of Authority. A group license is much different than holding multiple licenses. Which statement is correct as per licensing law and regulations? A binder must be made in writing For example, consider a group that has Office 365 E3/E5 assigned with a Skype for Business service plan enabled. Who among the following statements is correct concerning certified insurance consultants? In a life settlement contract, who does the life settlement broker represent? b. Which of the following would NOT be an eligible group for group life insurance? Certificates of Authority are renewed biennially by May 1, Which of the following statements is correct regarding cease and desist orders? The authority granted to an agent through the agent's contract is referred to as. Which of the following is NOT a goal of risk retention? C. Something that increases the chance of loss. (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. For example, you can assign Office 365 Enterprise E3 and Enterprise Mobility + Security to a group to easily enable all included services for users. 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. From the Profile blade, modify the usage location. With regard to licensee responsibilities, which of the following statements is NOT correct? B. Adverse selection is a concept best described as Risks with higher probability of loss seeking insurance more often than other risks. They will demonstrate successfully that they are using best practise to avoid. B) Work groups primarily engage in collective work that requires joint effort. Which of the following statements is false with respect to license renewals? To reprocess a group, go to the group pane, open Licenses, and then select the Reprocess button on the toolbar. Constructive Notice in Real Estate Overview & Law | What is Constructive Notice? C. It is issued to group insurance participants. During replacement of life insurance, a replacing insurer must do which of the following? Consists of 4 separate muscles b. Policy loans must available after the policy has been in effect for 6 months. Eventually, these costs will appear in the prices of frozen and canned vegetables. For example, there might be an insufficient number of licenses or a conflict between two service plans that can't be assigned at the same time. All rights reserved. All owner (s) must sign the application. What implications may this have for Partners X and Y? Answer: A. Under Licensed users, you see a list of all users who have had licenses assigned directly or via one or more groups. We're . To see which users and groups are consuming licenses, select a product. 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. 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. 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. Exchange Online (Plan 2) conflicts with Exchange Online (Plan 1). Considered true to the best of the applicant's knowledge. Which statement below is NOT correct regarding a highly available system? When an applicant is applying for an insurance contract, the statements he or she makes are generally not warranties, but representation. 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: 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. To see how many licenses are available, go to Azure Active Directory > Licenses > All products. C. It is equivalent to an insurance license. Please sign in to share these flashcards. Which of the following is not true regarding the quadriceps muscle group? is already being used" error message in Exchange Online. Producers of broker Insurance must build a bond along with the application for license. 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. It is usually de 1. 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?