Guaranty fund - Study guides, Class notes & Summaries

Financial Services Commission The governor and cabinet who select two officials to regulate banking, securities, and insurance Division of Finance Department responsible for licensing, examining and regulating non-depository financial services companies in Florida Bureau of Finance Regulation Conducts examinations of the books and records of mortgage brokers, mortgage brokerage businesses and mortgage lenders to ensure compliance Bureau of Money Transmitter Regulation Co...

Define home improvement - The addition, alteration, conversion, improvement, modernization, remodeling, repair or replacement of a building or part of a building that is used or was designed to be used as a residence or dwelling place or structure adjacent to that building or an improvement to land adjacent to that building Is a building of a swimming pool, deck, pier or porch included in Home Improvement? - Yes Is work done on apartment complexes of more than 4 units considered home impro...

Broker - correct answer According to the insurance law, who is the principal? 90 days - correct answer An application as a resident agent must be made in how many days if an individual establishes a principal place of residence within Pa from another state? a temporary license - correct answer issued for 180 days for surviving spouse, surviving inactive officer or partner, legal representative. Can be used upon death or incompetency of producer, or when individuals are serving in the milit...

Florida Life and Health Insurance Practice Questions with Certified Solutions Within how many days must a licensee notify the Department of Financial Services of a change in address? 30 All of the following entries are classified under the four principal areas of Florida insurance law EXCEPT... An agent's commission Which of the following factors is NOT considered when the Department of Financial Services determines if an agent's home is an insurance agency? The amount of premium collected ...

An insurer must obtain the following from the commission's before transacting insurance business - Answer-certificate of authority The guaranty fund provides coverage for unpaid health insurance claims up to: - Answer-$300,000 The commissioner may: - Answer-fine a Producer $10,000 for violating a Cease and Desist order The commissioner must inspect the records of a domestic property or life insurance company Every: - Answer-3 years An insurer may pay commissions directly to the agen...

DC LICENSING EXAM – STATE QUESTIONS WITH VERIFIED SOLUTIONS The DC commission can impose civil fines for license law violations. Each violation may garner a fine up to ______. $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? Yes, Joan must notify the mayor within 30 days of the date she began her action DC licensee Jenna presented her ...

DC Real Estate License Exam Questions and Answers Already Passed 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 ...

DC Real Estate Law Latest Update with Verified Solutions Purpose of the DC Real Estate Commission To protect the public from incompetent and fraudulent practices Commission Members 9 members. 3 real estate brokers. 2 salespersons. 2 Property Managers. 1 attorney. 1 consumer member. Commission terms 3 years. Max of 3 consecutive 3 year terms commission membership Requirements Active license in DC. Actively engaged in their field at least for the 5 years prior to appointm...

CE Practice DC Questions with Verified Solutions Dean's brokerage firm adopted an electronic transaction management system. Which of the following statements is true about brokerage policies related to the system? System permissions are on a need-to-know basis and passwords are required. Mary's been a salesperson in DC for two years. She's currently building her own professional website. In addition to her broker's contact information, what must she include on the site per DC re...

Betsy and Josh want to file a complaint against a real estate licensee whom they feel misrepresented them in the sale of their Maryland home. With what organization can they file a complaint? a. Hearing panel b. Local police department c. Maryland real estate commission d. U.S. Board of Real Estate Licensees - ANSWER Maryland Real Estate Commission In Maryland, how many hours of approved real estate courses must an individual complete before taking the real estate salesperson exam? ...