Force placed insurance - Study guides, Class notes & Summaries

Which type of insurance protects an agent and even pays claims if a lawsuit is brought against the agent as a result of failing to provide a service to a client? - Answer Errors and Omissions Insurance Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - Answer Waiver This Supreme Court case placed the regulation of insurance within the authority of the federal government by defining insurance as a form of interstate commerce? - Answe...

Final Exam - North Carolina Life and Health with Verified Solutions Which of the following is the MOST important factor when deciding how much Disability Income coverage an applicant should purchase? M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect EXCEPT free-look period has expired Additional coverage can be added to a Whole Life policy by adding a(n) decreasing term rider A...

Final Exam - North Carolina Life and Health with Verified Solutions Which of the following is the MOST important factor when deciding how much Disability Income coverage an applicant should purchase? M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect EXCEPT free-look period has expired Additional coverage can be added to a Whole Life policy by adding a(n) decreasing term rider A...

What is postmortem dividend? - A dividend earned, but not yet paid, in the year of the insured's death and paid with the death claim A life annuity with period certain pays the annuitant - Until death and then the beneficiary if the certain period has not been exceeded. A joint life policy can have many uses some of these could include? - 1. To cover two lives on the same policy 2. To pay estate taxes when the second spouse dies 3. To pay off a home mortgage should one of the working spo...

1. Which of the following is NOT a loan origination activity? - C. Assisting in a loan modification 2. A unilateral contract is binding on: - A. One party 3. Loan originator organizations must keep compensation records for how many years? - C. Three 4. Mortgage companies must submit a residential loan origination activity report to the NMLSR every: - B. Three months 5. How many years must loan originator applicants wait after a felony fraud conviction, in order to qualify for a license? - ...

Final Exam- Tennessee Life & Health Questions and Answers 100% Pass The reason for a business having a Business Overhead Expense Disability Plan is to cover: - Answer Fixed Business Expenses What is the initial requirement for an insured to become eligible for benefits under the Waiver of Premium provision? -Answer Insured must be under a physician's care K applies for a life insurance policy on herself and submits the initial premium with the application. She is given a receipt by the a...

Principles of Real Estate Questions With Correct Answers. They limit consumer choice. Why are antitrust activities illegal? No, because the buyer's consideration is promise to buy. In a purchase offer, is earnest money required to have a binding contract? Yes, Sarah can require that Robert fulfill the contract terms. Robert and Sarah enter into a contract for Sarah to purchase Robert's home. Robert decides he doesn't ant to sell and is elated when he finds out that Sarah's onl...

Principles of Real Estate Questions With Correct Answers. They limit consumer choice. Why are antitrust activities illegal? No, because the buyer's consideration is promise to buy. In a purchase offer, is earnest money required to have a binding contract? Yes, Sarah can require that Robert fulfill the contract terms. Robert and Sarah enter into a contract for Sarah to purchase Robert's home. Robert decides he doesn't ant to sell and is elated when he finds out that Sarah's onl...

NMLS Exam Study Questions with Correct A Title XIV (Mortgage Reform and Anti-Predatory Lending Act) - Answer-- Requires MLOs to apply new minimum qualifying standards & defines a new category of "qualified" loans. -Requires verification/documentation of the borrower's ability to repay the loan. -Establishes penalties for irresponsible lending, including extended foreclosure defense for borrowers. Title X (Consumer Financial Protection Act of 2010) - Answer-Provides broad authority to en...

Florida Insurance Exam Questions And Answers Latest Updated 2024/2025 | 100% SOLVED. Which type of insurance protects an agent and even pays claims if a lawsuit is brought against the agent as a result of failing to provide a service to a client? - Errors and Omissions Insurance Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - Waiver This Supreme Court case placed the regulation of insurance within the authority of the federal governmen...