D. To reduce expenses and improve cash flow. CIt is issued by the state department of insurance. * C) Coverage may be continued for up to 18 months for both . I highly recommend you use this site! It may be necessary for transacting business in a specific state. Which of the following is TRUE regarding the interest earned on these investments? What is the term for the entity that an agent represents regarding contractual agreements with third parties? Which of the following is true regarding the beneficiary designation of the former spouse. A sales associate or broker associate may have a "group license" in order to sell for all the entities owned by the owner/developer. Is limited lines insurance | 21 Answer should be B because only one user cannot be assigned the license, and before assigning the license to a user, usage location should be same. Which of the following is an example of an agent's fiduciary responsibilities? A temporary license may be issued to the surviving spouse of a disabled or deceased producer You need to either purchase more licenses for the product or free up unused licenses from other users or groups. On May 1 she processed an application for life insurance on a new applicant. 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. PowerShell: PowerShell cmdlets report this error as CountViolation. When would a misrepresentation on the insurance application be considered fraud? An insurer or producer may not assign commissions, The Commissioner may revoke, suspend, or refuse to renew a license for all the following, except: Which of the following statements is true regarding a work group? The policy contains sufficient cash value to cover the cost of insurance. A. All of the following statements are correct regarding Credit Life Insurance EXCEPT Benefits are paid to the borrower's beneficiary. Question: Which of the following is true regarding Article 2 of the Uniform Commercial Code (UCC)? A. "You're Beautiful" on YouTube [a] " You're Beautiful " is a song by English singer-songwriter James Blunt. A handicapped dependent child may be covered under a parent's policy up to age 30. B. Upfront license payments . Which of the following is correct regarding a temporary license? A. Responsible for knee flexion b. Eventually, these costs will appear in the prices of frozen and canned vegetables. FREC holds a meeting in order to pass a new rule. Benefit payment amounts are not guaranteed. b) Health insurance: an insurance (CII study text on Liability insurances, 2016). 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? (The binding force in any contract is consideration.). Insurers are liable for any loss resulting from the insured's being under the influence of any narcotic if: Such narcotic is administered on the advice of a physician. To reduce expenses and improve cash flow. Benefits are 50% of the difference when an employee becomes partially incapacitated as the result of injury I would definitely recommend Study.com to my colleagues. What is a major problem with naming a trust as the beneficiary of a life insurance policy? The insurer credits the cash value in the policy with a current interest rate. Problem: One of the products that's specified in the group contains a service plan that must be enabled for another service plan, in another product, to function. If a cease and desist order is violated the penalty may be up to $25,000 per violation, What is the minimum amount of notice an insurer must provide to a policyholder in advance of canceling a personal policy for nonpayment of premium? We weren't able to detect the audio language on your flashcards. C. It is issued to group insurance participants. The insured may choose to convert to term or permanent individual coverage. An information box is displayed when groups require your attention. 2. The plan is funded by permanent insurance only. Also imagine that a few members of the group have Audio Conferencing licenses assigned directly. A. DIt is issued to group insurance participants., An insurance company has published a brochure . Its like a teacher waved a magic wand and did the work for me. In this example, the conflicting service plans are: To solve this conflict, you need to disable one of the plans. a) toxicant. B. When Azure AD assigns group licenses, any users without a specified usage location inherit the location of the directory. This person presents what type of hazard? price is ___________ the equilibrium price. Who among the following would be exempt from a written examination? a. premiums are fixed for the first 5 years. How does this z-score compare with the z-score you calculated before? To understand the exact reason of the change and solve the problem, see this article on how the proxyAddresses attribute is populated in Azure AD. Florida Real Estate Laws | Rules & Statutes, Dishonest Behavior in Real Estate | Fraud, Puffing & Misrepresentation. (c) a violation of FS 475. Before you can assign a license to a user, you must specify the Usage location property for the user. Select the notification to open a list of all affected users. An advantage of owning a flexible premium life insurance policy would be. In insurance policies, contract ambiguities are automatically ruled in the favor of the insured. This year, she did not receive a check from the insurer. Year20012002200320042005200620072008200920103-MonthYield(%)3.471.631.031.403.214.854.471.390.150.1410-YearYield(%)5.024.614.024.274.294.794.633.673.263.21. \hline 2004 & 1.40 & 4.27 \\ In fact, the agent has no such power.). Insurers are liable for any loss resulting from the insured's being under the influence of any narcotic if: Such narcotic is administered on the advice of a physician. If thats the case, you dont have to worry anymore. Due to the insured changing his/her occupation What type of annuity contract could your client obtain? If you need assistance, please submit your question by, Department of Business and Professional Regulation Page. Consists of 4 separate muscles b. Which statement is correct as per licensing law and regulations? 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? 19. For example, Bob ''The Condo King'' Perlman owns and works at Bob's Big Time Condo Sales, Inc. located in Fort Lauderdale, Florida. 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. Which of the following is NOT the consideration in a policy? This is an example of what type of agent authority? Or, you need to modify the entire group license assignment and disable the plans in the E3 license. 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. Under Licensed users, you see a list of all users who have had licenses assigned directly or via one or more groups. (Mutual companies are owned by policyholders, while stock companies are owner by stockholders. b. Equal to. If the agent writes a policy for XYZ, which of the following would apply? This doctrine provides that an employee will pay taxes once he/she begins receiving economic benefits of an insurance-funded plan. 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. \hline 2008 & 1.39 & 3.67 \\ Failure to remit premiums may result in the suspension of the producer's license, A person may procure insurance with any insurance company that does not hold a Certificate of Authority if such insurance: To solve this problem, remove users from unsupported locations from the licensed group. A master policy purchased by a chain of clothing stores When the group is deleted, group-based licensing will try to remove Office 365 E3/E5 from all users. The Manager. (An agent represents the principle, acting on the entity's behalf in contractual agreements with third parties.). The original intent to license the user is never lost, but it's recorded in an error state for future investigation and resolution. 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 are part of the legal responsibility of maintaining an insurance license? 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. \hline \text { Year } & \begin{array}{c} d. evidence of insurability is required with any change in premium. There must be a majority vote of 4 Commission members. A sales associate may not be licensed or registered under a trade name. 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. B. I hope you got the correct answer to your question. It is intended to provide coverage on a date earlier than the date of the issuance of the policy. A) Individuals working in a work group work on different objectives and are not dependent on each other. A. What implications may this have for Partners X and Y? This person cannot be a sales associate or a broker associate. Any other documentation relevant to the correction. A Certificate of Authority will not be issued to a foreign or alien insurance company Which of the following types of policies are exempt from the state replacement regulations? In this article, we explain the reasons why users might end up in this state. To be considered as part of an organization's market, customers must be considered qualified to make a purchase. 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. B. A person who does not lock the doors or does not repair leaks shown an indifferent attitude. A salaried individual manages a condominium building and rents units 3month to 6month periods. A. It can the be used to license only selected users for the add-on product. 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)? What else must he include? Which of the following is a statement that is guaranteed to be true, and if untrue, may breach an insurance contract? For example, this can happen when you remove the user from the group. Which of the following statements is true regarding advertising of the Iowa Life and Health Guaranty Association? passing laws to regulate the transfer of property. Which of the following best describes taxation during the accumulation period of an annuity? Which of the following statements is false with respect to hearings? Which of the following terms best describes what the insurer has violated? Some Microsoft Online products you might own are add-ons. Your email address will not be published. Cram has partnered with the National Tutoring Association, Risky Management: Homeland Security And Homeland Defense, Advantages And Limitations Of The Reinsurance Contract. When group-based licensing tries to process concurrent license assignment of same license to a user, this exception is recorded on the user. b. that the claim will be paid if the insurer becomes insolvent. With respect to concealment or fraud in conjunction with the standard fire policy, which of the following is NOT correct? B. \hline 2007 & 4.47 & 4.63 \\ A. This memorandum surveys U.S. economic sanctions and anti-money laundering ("AML") developments and trends in 2022 and provides an outlook for 2023. It is issued to group insurance participants. A user has a license for Office 365 Enterprise E1 assigned directly, with all the plans enabled. Try refreshing the page, or contact customer support. Under Licensed groups, you see all groups that have that products assigned. What is the major difference between a Stock Company and a Mutual Company? Which of the following are the authorities that an agent can hold? All other factors being equal, what would the premium be like in a survivorship life policy as compared to the premium in a joint life policy? In Florida, a real estate broker who wishes to work for more than one entity can apply for multiple licenses. (b) They may be loosely tied together in a committee. Introducing Cram Folders! Members of the public flooded the State Capitol again on Tuesday. A group license applies to an owner or developer who builds homes or other housing and utilizes sales associates to sell the properties. Which of the following is a correct statement about group real estate licenses in Florida? 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? The plan must provide an offset for social security benefits. b. The Commissioner may revoke or suspend a license without an opportunity for a hearing Insurers must acknowledge the receipt of a notice of a claim within: Which of the following is correct regarding a temporary license? Ethical Guidelines for Academic Editors. It is an equivalent of insurance license. We also provide some thoughts concerning compliance and risk mitigation in this challenging environment. 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.). A group license is much different than holding multiple licenses. 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. C. to German speakers, angst is equivalent to . An insured purchased an insurance policy 5 years ago. B. Answer: B. It is issued to group insurance participants. In insurance transactions, fiduciary responsibility means. We fully adhere to its Code of Cond Abstract: Despite recent achievements in re-canalizing stroke therapies (Campbell et al., 2015; Goyal et al., 2015), which ensure reduction of deficits in a significant patient fa Obtain a list of all life insurance policies that will be replaced. Which of the following IS TRUE regarding the meaning of the word angst? 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. In response to the Great Recession, Federal Reserve leaders continue to keep the shortrun target interest rate near zero. D. The agent accepts a premium payment during the grace period. An applicant for a resident producer license who was previously licensed for the same line in this state within the past 90 days, 4. Which of the following statements are correct? To reprocess a group, go to the group pane, open Licenses, and then select the Reprocess button on the toolbar. B. A master policy purchased by a condominium association, With respect to failure to remit premiums, which of the following statements is false? At times, it is possible for a life insurance agent to affect a savings of premium rates by backdating an application for life insurace. You can see the users who failed to get assigned and check which products are affected by this problem. The number of policy cancellations by policyholder. Producer licenses expire every 2 years (biennially) on the producer's birth date. Year3-MonthYield(%)10-YearYield(%)20013.475.0220021.634.6120031.034.0220041.404.2720053.214.2920064.854.7920074.474.6320081.393.6720090.153.2620100.143.21\begin{array}{|c|c|c|} The broker can also remain a sole proprietor of his agency. To see if there is a duplicate proxy address, execute the following PowerShell cmdlet against Exchange Online: For more information about this problem, see "Proxy address If you use Exchange Online, some users in your organization might be incorrectly configured with the same proxy address value. (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 . Insurance companies may be classified according to the legal form of their ownership. Handling insurer funds in a trust capacity. Making derogatory oral statements about another insurance financial condition. lessons in math, English, science, history, and more. Problem: There aren't enough available licenses for one of the products that's specified in the group. It is term coverage that is convertible to permanent insurance at or prior to the child reaching the maximum coverage age. Draw a graph to illustrate your answer. Last year, she received a dividend check from the insurance company that was not taxable. This insurance provides financial protection against physical damage and bodily injury resulting from traffic collisions. Guitar Tabs. b. at least 30, How many credit hours of continuing education must an agent with a life and health or property casualty license complete every renewal period? In reference to fixed annuities, what comprises most of a life insurance company's general account? Which policy component fluctuates depending on the policy type? b. the insurer can make policy charges without difficulty. You can select each group for more details. Police Power in Real Estate Significance & Examples | What is Police Power? Please upgrade to Cram Premium to create hundreds of folders! A, C, D are characteristics as defined by NIST; cloud computing enables pay-as-you-pricing and does not involve paying for licenses upfront. (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.). A. When doing business in this state an insurance company that is formed under the laws of another state is know as which type of insurer? 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.). Which of the following would NOT be an eligible group for group life insurance? All books and records pertaining to an MLO's operation must be made available upon request. An insurer invests the money it receives from premiums paid by its insureds. You can assign more than one product license to a group. Whether an insurable interest exists between the individuals. (c) Th; Which of the following is not a true statement? B. Find out how you can intelligently organize your Flashcards. You have created 2 folders. A. c. cedes the risk. 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. B. to English speakers, angst means an extreme state of anxiety experienced because of social isolation and loneliness. D. group credit insurance must have a suicide clause and a misstatement of age clause. Options . B. Which of the following individuals must have insurable interest in the insured? The plan must provide an offset for social security benefits. 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. 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. Which of the following is correct regarding prelicensing requirements? (a) legal if the sales associate has a group license. Let's look at an example. Exchange Online (Plan 2) conflicts with Exchange Online (Plan 1). The other insurer is called the "Assuming insurer.". 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. Maria Juarez is a professional tennis player, and your firm manages her money. If only one party to an insurance contract has made a legally enforceable promise, what kind of contract is it? 30 days of the change b. She has asked you to give her information about what determines the level of various interest rates. 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. A person willfully acting without an insurance license in Iowa may be fined up to: Answer: $50,000.. Browse Covers | YourCover backing tracks in MP3 format. If after a hearing, the Commissioner determines that an individual is in violation of insurance law, a copy of the findings and a Cease and Desist Order will be issued (The principal grants authority to an agent through the agent's contract.). However, since he has so many units and homes to sell, he will need the assistance of a few associates. by JayDJohnson, 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 a. A. During replacement of life insurance, a replacing insurer must do which of the following? Which of the following is true regarding a single life settlement option? Which of the following is TRUE regarding the accumulation period of an annuity? B. D. It may be necessary for transacting business in a specific state. What is group-based licensing in Azure Active Directory? With regard to financial examinations by the Commissioner, the Commissioner: Must conduct a financial examination of an insurer at least once every 5 years. Agents have binding authority D. It is issued by the state department of insurance. A. Can a broker hold multiple real estate licenses? As a member, you'll also get unlimited access to over 88,000 It is issued by the state department of insurance. That's when several brokers approached Bob about holding multiple licenses. b. Question: After repairing his roof, Ralph jumped to the ground instead of using a ladder. Perfectly happy with his profits, Bob did not consider holding multiple licenses. b. PowerShell: PowerShell cmdlets report this error as MutuallyExclusiveViolation. What method do insurers use to protect themselves against catastrophic losses? What is the advantage of reinstating a policy instead of applying for a new one? c . Benefits are 75% when an employee becomes totally incapacitated as the result of injury, With regard to aftermarket parts regulation, which of the following statements is false? D. Something of value exchanged between parties. B. To unlock this lesson you must be a Study.com Member. All of the following are general requirements of a qualified plan EXCEPT. B. Which of the following statements is false with respect to . Are you looking for the correct answer to the question Which of the following is NOT true regarding a Certificate of Authority?? Net Listing in Real Estate: Concept & Examples | What Is a Net Listing? e. Unscrupulous licensees have been known to manufacture licensed products and sell them under different brand names B. Upon application for a life insurance policy containing accelerated LTC benefits. Which of the following statements is correct with respect to the Doctrine of Economic Benefit? Fungi, Wet Rot or Dry Rot; Virus or Bacteria; Electrical Apparatus, Consequential losses, steam apparatus, frozen plumbing, dishonesty, pollution, and neglect are excluded, The Insurance Commissioner is: 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? Azure AD will retry processing the user license and will resolve the issue. B Identification of customer need. 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 d. The number of units that could have been started and completed given the cost incurred. The contribution is known and the benefit is unknown. When would a 20-pay whole life policy endow? In a life settlement contract, who does the life settlement broker represent? A. Income tax on distributions and no penalty. He is also able to keep his sole proprietorship at Big Time Condo Sales, Inc. B) Work groups primarily engage in collective work that requires joint effort. 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.

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