Commingling funds - Study guides, Class notes & Summaries

PRIMERICA LIFE INSURANCE EXAM QUESTIONS AND ANSWERS 2024/2025 An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - CORRECT ANSWER-A. mutual funds not paid out after paying claims and other operating c...

1. Which law is the foundation of statistical prediction of loss upon which rates for insurance are calculated? A) Law of Group Evaluation B) Law of Large Numbers C) Law of Masses D) Law of Averages Answer : B) Law of Large Numbers 2. A producer who fails to segregate premium monies from his own personal funds is guilty of: A) Theft B) Commingling C) Larceny D) Embezzlement Answer : B) Commingling 3. In insurance, an offer is usually made when: A) The completed application is submit...

Pete is a sole proprietor broker and has six salespeople who he employs. On June 9th, Pete is killed in a car accident. Tom is one of the salespeople and his listing is set to close on June 20th. What will happen to the proposed closing? A). Nothing will happen. Business will go on as usual with the salespeople in charge until a new broker is found. B). The estate will notify the Commission within 15 days of death and tell the Commission that a new termination broker has been found. The clos...

Dividends from a stock company are normally sent to: Beneficiaries Shareholders Policy holders Insureds - ️️Shareholders 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 - ️️Life insurance Which of the following outlines the authority given to the producer on behalf of the insurer? Rebating arrangement Commingling contract Controlled business claus...

Regulatory Powers Enable the agency to pass specific regulations and rules to support the administration of the license law Judicial Powers Enable it to conduct hearings and investigations into the activities of licensees and to rule on license suspensions or revocations Administrative Powers Enable it to establish the staff organization, records, and facilities to manage the licensing process and the licensees themselves Mission of the Tennessee Real Estate Commission P...

Bob Hogue Final Test Questions with Complete Solutions What is the purpose of an escrow account in real estate transactions? To hold money in trust for parties involved in a transaction Who is responsible for maintaining a sales associate's license status? The sales associate What must a sales associate do when they receive escrow funds? Deliver them to their broker immediately What is the definition of "dual agency"? Representing both the buyer and seller in the same trans...

Dividends from a stock company are normally sent to: Beneficiaries Shareholders Policy holders Insureds - Shareholders 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 - Life insurance Which of the following outlines the authority given to the producer on behalf of the insurer? Rebating arrangement Commingling contract Controlled business clause Producer contrac...

What agency issues real estate licenses? - correct answer The New York State Department of State (NYDOS), Divison of Licensing Services At what age can you become a real estate salesperson? - correct answer 18 Do you need experience in the field to become a sales person? - correct answer No What is the minimum age to become a real estate broker? - correct answer 20 If your license is revoked, how long do you have to wait to re-apply for it? - correct answer One year Do y...

Wisconsin Accident and Health Insurance Exam Questions and Answers 100% Pass Dividends from a stock company are normally sent to: Beneficiaries Shareholders Policy holders Insureds Shareholders 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 Life insurance Which of the following outlines the authority given to the producer on behalf of the insurer? R...

NYS Colibri Real Estate Final Exam Questions and Complete Solutions Expressed Agency - Answer: An agency created in a written or oral agreement General Agent - Answer: One who is authorized by a principal to represent the principal in a specific range of matters Fiduciary - Answer: Person in a position of trust, held by law to high standards of good faith and loyalty Fiduciary Duties - Answer: care, obedience, accounting, loyalty, and disclosure COALD Group Boycott - Answer: An or...