Question: After repairing his roof, Ralph jumped to the ground instead of using a ladder. Your client's employer does not offer a company-wide annuity contract. Series 6: Multiple choice questions (choose the best statement) Exercise 1. This memorandum surveys U.S. economic sanctions and anti-money laundering ("AML") developments and trends in 2022 and provides an outlook for 2023. What happens to the license status? D. Measured services. 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. Performing a review of the agent's client's coverage. This option offers more flexibility. 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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"}}. Alternatively, you might decide to remove the E1 license from the user if it's redundant in the context of the E3 license. What does "level" refer to in level term insurance? Which of the following is an example of apparent authority of an agent appointed by an insurer? A. The central theme of 2022 was the U.S. government's deploying of its sanctions, AML . A person willfully acting without an insurance license in Iowa may be fined up to: Answer: $50,000.. The license fee could be based on a percentage of final sales revenue of the product, or the number of units sold. Which of the following are the authorities that an agent can hold? a. Upgrade to Microsoft Edge to take advantage of the latest features, security updates, and technical support. A. Write an essay on the Essential Question: What is the proper role of the government in the economy? Which of the following is NOT true regarding a Certificate of Authority? (Insurers use reinsurance to protect themselves from catastrophic losses. Bob is the agency owner, and all of his real estate transactions are performed through the agency's business license. Insurance is a contract by which one seeks to protect another from (Insurance will protect a person, business or entity from loss.). 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.). To solve this problem, remove users from unsupported locations from the licensed group. Which authority is NOT stated in an agent's contract but is required for the agent to conduct business? 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. Multiple vs Group License. (Representation are statements made by an applicant that they believe to be true.). 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? Which of the following is true regarding a single life settlement option? A A-3, B-4, C-2, D-1. However, removing licenses from all the users in the group may take time. 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. In forming an insurance contract, when does acceptance usually occur? D. is likely to end by 2017. C. to German speakers, angst is equivalent to . An employee is insured under her employer's group life plan. This insurance provides financial protection against physical damage and bodily injury resulting from traffic collisions. Document C shows that the ethanol boom A. results in higher food prices. 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? It is intended to provide coverage on a date earlier than the date of the issuance of the policy. By putting the client's best interest before their own. Please select the correct language below. A Certificate of Authority will not be issued to a foreign or alien insurance company These frequently asked SQL questions are given with the correct choice of answer among multiple options. c It does not apply to contracts for the provision of services. Give some examples of transactions that would be recorded in the Other Accounts CR column of the cash receipts journal. C. To minimize the insured's level of liability in the event of loss. Which of the following statements is false with respect to license renewals? What is a major problem with naming a trust as the beneficiary of a life insurance policy? It is an equivalent of insurance license. Also imagine that a few members of the group have Audio Conferencing licenses assigned directly. Please check the appropriate boxes and fill in all the required information. Find out how you can intelligently organize your Flashcards. \hline 2005 & 3.21 & 4.29 \\ D Material control. 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. Which of the following statements is true regarding the ABO blood system? e. The number of units in the process at the end of the period. 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. e. Unscrupulous licensees have been known to manufacture licensed products and sell them under different brand names Which of the following correctly describes an Apprentice Adjuster's license? Customer | Differences, Responsibilities & Examples. The application process requires the owner or developer to file with the DBPR. A temporary license may be issued to the surviving spouse of a disabled or deceased producer A) XYZ must issue the policy. Premiums are determined by the age, sex, and occupation of each individual certificate holder. PowerShell: PowerShell cmdlets report this error as CountViolation. What you need. Katy's license expired on September 30th. The decision about how to resolve conflicting product licenses always belongs to the administrator. Introducing Cram Folders! The other insurer is called the "Assuming insurer.". This lets you distribute the add-on to E1 and E3 users without consuming additional licenses. \hline 2003 & 1.03 & 4.02 \\ Which nonforfeiture option provides coverage for the longest period of time? 475. A. Updating license assignment on a user causes the proxy address calculation to be triggered, which can change user attributes. Draw a graph to illustrate your answer. Issued insufficient coverage to a customer through apparent authority With the homes built and ready to go, Braggs hired a bunch of sales associates to push the properties into procurement. c. the policy owner can make policy changes without difficulty. D. The agent accepts a premium payment during the grace period. A. X, Y, and Z are partners. Which of the statements is correct regarding membership on the Probable Cause Panel? 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. If thats the case, you dont have to worry anymore. A reinsurer is a company that. 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? price is ___________ the equilibrium price. Cram has partnered with the National Tutoring Association, Risky Management: Homeland Security And Homeland Defense, Advantages And Limitations Of The Reinsurance Contract. 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? Answer: A. Which statement below is NOT correct regarding a highly available system? Plus, get practice tests, quizzes, and personalized coaching to help you Which of the following statements is NOT correct concerning policy loans? 5 Match the following: A) Quality assurance - 1) Process oriented B) Quality control - 2) National physical laboratory C) Quality management - 3) Product oriented D) National measurement system - 4) Overall programmer of QA. If an agent fails to promptly remit the premiums collected from the insured to the insurer, the agent may be found guilty of which of the following? A limited lines producer is authorized to sell all of the following, except: Which of the following statements is false? Name some factors that can cause a shift in the demand curve in markets for goods and services. At any given time, how would the yield curve facing a BB-rated company compare with the yield curve for U.S. Treasury securities? B. DIt is issued to group insurance participants., An insurance company has published a brochure . d. Louder than. A sales associate or broker associate may have a "group license" in order to sell for all the entities owned by the owner/developer. Return to the waiting times given for the physicians office in one of the previous exercies. He hires his son but he is NOT license to sell lots.Father offers son a salary of $200 per week. Adverse selection is a concept best described as Risks with higher probability of loss seeking insurance more often than other risks. $4,500, With regard to the FAIR Plan, which of the following is false concerning agents? Whether an insurable interest exists between the individuals. d. The number of units that could have been started and completed given the cost incurred. As a member, you'll also get unlimited access to over 88,000 b. This website helped me pass! 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. Which of the following types of policies are exempt from the state replacement regulations? An information box is displayed when groups require your attention. Principal-Agent Relationship Roles & List | What is a Principal in Real Estate? Which of the following best describes annually renewable term insurance? The number of units introduced into the process this period. B. It is an equivalent of insurance license. Which of the following statements is an accurate comparison between private and government insurers? Which of the following statements regarding the temporary insurance license is not correct? Which of the following is NOT an essential element of an insurance contract? Considered true to the best of the applicant's knowledge. a. With regard to licensee responsibilities, which of the following statements is NOT correct? The article also includes information on how to connect to Exchange Online by using remote PowerShell. 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. This year, she did not receive a check from the insurer. Ethical Guidelines for Academic Editors. What implications may this have for Partners X and Y? (A peril is the cause of loss insured against in an insurance policy.). B. If she terminates her group coverage, which of the following statements is INCORRECT? Replacement parts to be used that are not manufactured by the original manufacturer may not be used 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. An insurance producer cannot act as an insurer's agent unless that producer becomes appointed with the insurer When group-based licensing tries to assign a license to such a user, it fails and shows Proxy address is already being used. To assign this add-on license to a group, we must ensure that the group also contains the prerequisite service plan. 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. Which statement regarding insurable risks is NOT correct? This error occurs when Azure AD attempts to remove the underlying service plan. A. Q. For example, this can happen when you remove the user from the group. 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. t. e. In the United States, the rights of transgender people vary considerably by jurisdiction. 3. Your email address will not be published. To properly obtain a group license, Braggs and his associates need to do a few things. Calculate and interpret the sample correlation coefficient. succeed. B. 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? 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: Typically, a real estate broker will hold one license in a single real estate agency. This is an example of what type of agent authority? You can specify the location under the User > Profile > Edit section in the Azure portal. Which of the following insurers are owned by stockholders who have the usual rights of ownership, including the right of voting? An agent holds a license and sells insurance for several companies, but is not appointed with company XYZ. 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). Losses are payable within 30 days of receipt of proof of loss, Who among the following is not exempt from continuing education requirements? The plan must provide an offset for social security benefits. Braggs did not want to lock each sales associate into one single development. Group-based licensing in Azure Active Directory (Azure AD), part of Microsoft Entra, introduces the concept of users in a licensing error state. \end{array} Best Answer. 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. If you use Exchange Online, some users in your organization might be incorrectly configured with the same proxy address value. 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? By the end of 2021, at least 130 bills had been introduced in 33 states to restrict the rights of transgender people. Benefits are 50% of the difference when an employee becomes partially incapacitated as the result of injury 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. 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? Representations are statements that are true to the best of the applicant's knowledge.). A spouse was granted a temporary license for her deceased husband's agency on March 1. A Development of standards. 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That its policies are covered by a state Guaranty Association. For example, we might update an existing group that already contains the full Office 365 E3 product, and then add the add-on product to it. Which of the following statements is false with respect to license renewals? Do I need to renew my group member license? Which of the following statements is false with respect to notices of information practices? * B) Coverage may be continued for up to 36 months for both a qualified beneficiary and a terminated employee. It is issued to group insurance participants. 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. passing laws to regulate the transfer of property. Which of the following is true of a children's rider added to an insured's permanent life insurance policy? Producers of broker Insurance must build a bond along with the application for license. To reduce expenses and improve cash flow. Only sales or broker associates, employed by a owner developer can receive a group license. D. It may be necessary for transacting business in a specific state. Which of the statements is correct regarding membership on the Probable Cause Panel? Open the group to its overview page and select Licenses. Option Contract Overview & Components | What is an Option Contract? C. Being liable with respect to payment of claims. If the agent writes a policy for XYZ, which of the following would apply? They earn lower interest rates than fixed annuities. Which of the following statements is true regarding a work group? A. Which of the following is an example of a producer's fiduciary duty? People who have the A antigen normally would not produce the anti-A antibody. B. C. The application given to a prospective insured. To learn more about other scenarios for license management through groups, see the following: More info about Internet Explorer and Microsoft Edge, "Proxy address We also provide some thoughts concerning compliance and risk mitigation in this challenging environment. 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. It is in widespread usage on the World Wide Web due to its wide support and portability between applications and operating . and Partner Z is personally insolvent. In a single employer group plan, what is the name of the policy issued to the employer? B. A buy-sell agreement is simply a contract that establishes what will be done with a business in the event that an owner dies. Which of the following IS TRUE regarding the meaning of the word angst? AzAnswer team is here with the right answer to your question. a. accepts all the risk from another insurer. B. Multiple licenses refer to a broker's right to work for multiple entities. 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. Upon which of the following would a health benefit plan be permitted to base individual eligibility? C. From the Directory role blade, modify the directory role. Problem: Some Microsoft services aren't available in all locations because of local laws and regulations. The authority granted to an agent through the agent's contract is referred to as. From the Profile blade, modify the usage location. A group license applies to an owner or developer who builds homes or other housing and utilizes sales associates to sell the properties. Some service plans are configured in a way that they can't be assigned to the same user as another, related service plan. Insurance companies may be classified according to the legal form of their ownership. Options . Problem: User has LicenseAssignmentAttributeConcurrencyException for license assignment in audit logs. Stock life insurers must have $1,000,000 in capital and $2,000,000 in surplus. On May 1 she processed an application for life insurance on a new applicant. Feb. 2015. Question: Which of the following is true regarding Article 2 of the Uniform Commercial Code (UCC)? 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. flashcard sets. a. Construct and interpret a scatterplot of a 10-year treasury yield against a 3-month yield. \hline 2009 & 0.15 & 3.26 \\ A. All of the following are general requirements of a qualified plan EXCEPT. 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. To minimize the insured's level of liability in the event of loss. A. Please sign in to share these flashcards. (c) a violation of FS 475. a) toxicant. A. Answer: . \hline 2007 & 4.47 & 4.63 \\ 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. The government pays subsidies to companies that produce ethanol, a fuel made from corn. The New York Superintendent has the responsibility to make sure each entity transacting insurance in this state remains solvent. 4. Which of the following is NOT an unfair claims practice? 30 days of the change b. A. Incumbents may not perform all of the listed duties and/or may be required to perform additional or different duties from those set forth below to address business needs and changing business practices.
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