Insurance broker - Study guides, Class notes & Summaries

A broker requests a hearing with the Commissioner. Within how many days of the request must the hearing be held? - 30 Collision coverage extends to rented passenger vehicles that have been rented for - No more than 30 days. Every vehicle insurance policy issued and delivered in Maryland must provide coverage for medical, hospital and disability benefits, unless - Waived by the first named insured. When an insurer desires to cancel or non-renew a property insurance policy, they must give ad...

Abandonment - - Insurance company may choose to take damaged property and pay insured the value - Insured CANNOT surrender damaged property to insurance company Active Retention - Identify the loss/risk exposure and really consider the risk itself and all the measures around it. (ex. Should we transfer it, retain it etc.) Admitted (standard or retail) Insurance companies - Regulated by the state, They often must subscribe to rating and form regulations of that state. Agent or Broker - "I...

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 sub-licensee must be 18 years of age or older at the time of issuance of such license. The person must submit to and pass a written examination required by the Superintendent. ...

RECA Fundamentals Exam| 2023/ 2024| Questions and Verified Answers|100% Correct QUESTION Errors and Omissions Insurance? Answer: real estate equivalent of malpractice coverage QUESTION Comprehensive General Liability Insurance? Answer: - broad coverage for claims against injury/damage - civil liability (a fall) - any damages or injuries - legal defense costs - does not cover issues related to real estate transactions QUESTION Voluntary Broker Resoluti...

Well-structured COL3704 Assignment 3 (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!).... QUESTION 1 Create a mind map of the functions that the National Credit Regulator is legislated to perform.  (5) SECTION B: DEBT COLLECTORS ACT 114 OF 1998 QUESTION 2 On 1 September 2024, Alvereen borrows R15 000 from DEF Bank and agrees to repay the loan in 11 monthly payments of R1 500 each starting 1 December 2019. Alvereen makes six consecutive payme...

Texas Promulgated Contracts-CHAMPIONS STUDY 2022-2023. The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilatera...

Accident and Health Insurance Agent (Broker) Practice Exam with complete Questions and Answers

Colorado Title Test Questions and Answers 100% Pass AGENTS' LICENSES TO REPRESENT A NATIONWIDE BUSINESS CONDUCTING BUSINESS IN COLORADO ARE ISSUED BY? THE COMMISSIONER OF INSURANCE OF THE STATE OF COLORADO THE APPROVED MANNER IN WHICH A TITLE INSURER IS SUPPOSED TO WRITE OVER, OR INSURE THROUGH, RECORD ENCUMBRANCES OR DEFECTS IN TITLE IS? BY A SPECIALLY FILED ENDORSEMENT PURSUANT TO THE PROVISIONS OF THE UNIFORM PROBATE CODE, THE ADMINISTRATION OF THE ESTATE OF A COLORADO RESIDENT WHO DIED O...

insurance Correct Answer-A contract in which one party (the insurer) for monetary consideration agrees to reimburse another (the insured) for loss or liability for a loss on a defined subject caused by specified hazards or perils. risk Correct Answer-The chance of loss. Specifically, the possible loss or destruction of property or the possible incurring or a liability. Sometimes referred to as the subject of an insurance contract. speculative risk Correct Answer-chance of loss or gain; not...

DC STATE PORTION EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE. QUESTIONS BANK Who appoints members of the DC Real Estate Commission? The commission executive director The DC Council chairperson The mayor The outgoing commissioners - -The mayor Jersey, a real estate licensee who lives in DC, inherited a 5% interest in a strip mall. Pete, her neighbor, saw a for sale sign at the strip mall and wants her to make an offer on the property on his behalf. Jersey considers her personal i...