Insurance broker - Study guides, Class notes & Summaries

Resident Licensing Requirements o :## 1. Be licensed as a resident property and casualty insurance producer. o 2. Pass the SC broker licensing examination with 70% or better. o 3. Pay a biennial fee of $200 o 4. File surety bond in favor of SC in amount of $10,000. Nonresident Licensing Requirements o :## 1. File application on form prescribed by the director. o 2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to o...

Connecticut Life and Health Final Exam Questions And Answers Someone who is licensed to negotiate a life settlement contract is called a - ANS-Life settlement broker Chris has a single major medical contract which covers all medical expenses. His plan is considered to be - ANS-comprehensive What typically changes at the re-entry option date found in some life insurance policies? - ANS-Premium - a re-entry option gives the insured the opportunity to provide evidence of insurability at the ...

©BRAINBARTER 2024/2025 SC Insurance Brokers Exam Surplus Lines Insurance Broker - Series 19-26 Questions With 100% Verified Answers Resident Licensing Requirements - answer1. Be licensed as a resident property and casualty insurance producer. 2. Pass the SC broker licensing examination with 70% or better. 3. Pay a biennial fee of $200 4. File surety bond in favor of SC in amount of $10,000. Nonresident Licensing Requirements - answer1. File application on form prescribed by the direct...

FLORIDA LIFE INSURANCE/ ANNUITIES 2-14 STUDY SET EXAM WITH CORRECT ANSWERS Which of the following individuals MUST be licensed as an agent? - CORRECT ANSWER-A person who places insurance on behalf of anyone seeking insurance. Which of the following statements regarding a nonresident insurance agent is CORRECT? - CORRECT ANSWER-The agent must hold a similar license in their state of residence State insurance laws specifically allow the Commissioner(or Director) to issue a temporary...

2023/2024 OACIQ Exam Prep - Questions with Verified Answers When do you need a new certificate of location? If previous one is older than 10 years, requires a new one. In the description sheet in MLS, inform collaborating brokers that a new one will be available soon. Seller asks to reduce commission if you find a buyer? You can include a clause in the BCS in 11.1 stating that in the event that you find a buyer, you will reduce your commission to 3%, however in the case of multiple offers, thi...

Washington State Surplus Exam Prep Questions And Answers Surplus Lines Insurance Insurance coverage provided by non-admitted insurers for risks that are not available in the admitted market due to their unique or high-risk nature. Admitted Insurer An insurance company that is licensed and regulated by the state, and its policies are protected by the state's guaranty fund. Non-admitted Insurer An insurance company that is not licensed in a particular state but is allowed to pro...

NY Life, Accident, and Health Insurance Agent/Broker Exam Series 17-55 Questions & Answers 2023 ( A+ GRADED 100% VERIFIED)

Insurance Broker Exam 2024!!

NY Life, Accident, and Health Insurance Agent/Broker Exam Series 17-55 actual exam Process 2103 (d-i) - CORRECT ANSWER-1. The Superintendent may issue a license to any person, firm or corporation who has complied with the requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer. Every individual applicant for a license under this section and every proposed sublicensee must be 18 years of age or older at the time of issuance of such licens...

During replacement of life insurance, a replacing insurer must do which of the following? A Send a copy of the Notice Regarding Replacement to the Department of Insurance B Obtain a list of all life insurance policies that will be replaced C Guarantee a replacement for each existing policy D Designate a new producer for a replaced policy - ANSWER-B Which of the following documents must be provided to the policyowner or applicant during policy replacement? A Buyer's Guide and Policy ...