Guaranty fund - Study guides, Class notes & Summaries

What information about the Guaranty Fund must be included in every Maryland sales contract? - ANSWER Notice to the buyer of the Guaranty Fund's protection up to $50,000 A Maryland salesperson included a personal phone number on an ad. What other piece of information must also be included on the ad? - ANSWER Broker's office phone number In Maryland, transaction records may be stored electronically as long as ______. - ANSWER Licensees are able to provide a paper copy upon commission r...

In addition to disciplinary sanctions imposed by the DC Real Estate Commission, licensees may face a(n) ________ if the attorney general files for one in superior court. Injunction How often do DC real estate licensees contribute to the Guaranty and Education Fund? Upon initial licensure and at every license renewal Typically, a panel oversees a hearing for a DC license law violation rather than the full real estate commission. The hearing panel comprises at least how many commis...

Mass State Life Insurance Exam Questions and Answers Already Passed Which of the following describes a participating life insurance policy? A participating life policy is one in which the policyowner receives dividends deriving from the company's divisible surplus What type of reinsurance contract between two insurers involves an automatic sharing of the risks assumed? Under treaty reinsurance, each party automatically accepts specific percentages of the insurer's business. At wh...

The DC commission can impose civil fines for license law violations. Each violation may garner a fine up to ______. correct answers $5,000 Joan began a court case against a DC licensee who misrepresented a property, resulting in a financial loss for Joan. At this point, does Joan need to make any notifications to the mayor? correct answers Yes, Joan must notify the mayor within 30 days of the date she began her action DC licensee Jenna presented her evidence at a commission hearing held Ma...

South Carolina Insurance Exam 2024 With 100% Correct Answers Verified By Experts An insurer is REQUIRED to offer which of the following to each long-termcare applicant at the time of purchase? ANS Inflation protection 2. If the cause of death appears to be accidental, an insurer may requirea(n) ANS Autopsy 3. Offering anything of value not stated in the insurance contract to secure anorder of business is called ANS rebating 4. A non-authorized insurance company ANS Is not protected by t...

Personal Lines Insurance Practice Exam Questions and Answers Graded A+ Bobby, age 16, borrows his parents' car without their permission and gets into an accident. Which of the following statements about coverage under the parents' personal auto policy is CORRECT? A) Bobby is covered by his parents' policy because he is included in the definition of named insured. B) Bobby is not covered for this accident because he used the car without permission. C) Bobby is not covered because i...

A reciprocal insurer typically has an administrator who manages the premiums collected from the group's members. This administrator is called a(n) -reciprocal commissioner -attorney general -attorney-in-fact -reciprocal director - ANSWERattorney-in-fact Which of the following financial products creates an instant estate, no matter when the date of death? -Mutual funds -Life Insurance -Certificate of Deposit -Deferred Annuity - ANSWERLife Insurance Who regulates an insurer's c...

Personal Lines Insurance Practice Exam Questions and Answers Latest | 100% Correct. Bobby, age 16, borrows his parents' car without their permission and gets into an accident. Which of the following statements about coverage under the parents' personal auto policy is CORRECT? A) Bobby is covered by his parents' policy because he is included in the definition of named insured. B) Bobby is not covered for this accident because he used the car without permission. C) Bobby is not covered ...

Real Estate Exam Delaware Questions and Answers 100% Correct Most residential real estate transfers require the seller to provide the buyer with this - Correct Answer ️️ -Seller's Disclosure of Real Property Condition Report Piper contracted with Alex to sell her Dover home to him for $350,000. If Alex breaches the sales contract, how long does Piper have to sue Alex for breach of contract? Eight years Four years - Correct Answer ️️ -Three years Which of the following statements...

MHIC NASCLA Contractors Guide Exam Questions with Answers 1. How long does a claimant have to bring a claim against the guaranty fund?: Answer- 3 years from discovery of the loss or damage