Implied contract term Study guides, Class notes & Summaries

NATIONAL REAL ESTATE EXAM PRACTICE TEST ALREADY PASSED In most cases, broker compensation, as a percentage of home price, falls somewhere between: 5-7% A Christian organization owns a fourplex. It wants to rent to only Christian tenants. Under the federal Fair Housing Act, is this legal? Yes. Religious organizations which rent to tenants for residential purposes are exempt from the Fair Housing Act What happens to trade fixtures after a business moves out of a leased property? The tenant remo...

PRIMERICA LIFE INSURANCE EXAM. All Most Examined Questions Bank with answers. 100% verified. Rated A. 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 - A. mutual funds not paid out after paying claims ...

ETS MFT BUSINESS EXAM The principal difference between variable costing and absorption costing centers on: a) whether variable manufacturing costs should be included as product costs b) whether fixed manufacturing costs should be included as product costs c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs d) none of these. General Bikes is debating which marketing research options to employ. The traditional p...

Exam FX Insurance- Wisconsin Life questions (Answered). 100% Accurate, Graded A An insurer decides to renew a policy but at a higher premium rate, starting on the renewal date. How many days in advance must the insured be notified? a) 30 b) 60 c) 90 d) 100 - -b How is the Commissioner of Insurance placed in office? a)By NAIC nomination b)Through a bid process c)An election at the same time that other state officials are selected d)An appointment by the Governor - -d An ins...

401K Plan - A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollards Absolute Assigment vs. Collateral Asssigment - Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner. Accelerated Death Benefit - Policy provision that allows full or partial payment of the policy's death benefit before the insured's death if he/she i...

EOPA Study Guide1. Which of the following terms describes a minor term in a contract for the sale of goods? a) warranty b) innominate term c) implied term d) condition - correct answer A) Warranty 2. What type of corporation may be owned by just a few people and does not offer its shares for sale to the general public? A. Private B. General C. Public D. Limited - correct answer A) Private 3. Which of the following is a true statement about B2B (business-to-business) marketing: ...

California property and casualty exam, Pool Questions & Answers. Verified. Rated A The process where by a mutul insurer becomes a stock company is called - Demutalization The process whereby a stock company a mutal insurer is called - Mutalization The provision in a property policy which states that the insured has been paid up to their insurable interest is - Valuation clause The part of the policy that states the amout of coverage the insured property policy period is - Declara...

MIE 305 Final Exam Latest Update with Verified Solutions Contract a promise or set of promises supported by the exchange of bargained-for consideration for the breach of which the law gives a remedy, or the performance of which the law recognizes as an enforceable duty. "a promise or set of promises that are enforceable in court." primarily state based common law contract elements -Agreement: the parties agree to the exchange of legal detriment as to each other -Bargained-for con...

Wisconsin Casualty Questions and Answers Already Passed A situation in which a person can experience only a loss and no gain presents what type of risk? Pure Risk A tornado that destroys a property would be an example of what? Peril What type of authority is based on the agent's actions, or words? Apparents If an insurer holds a Certificate of Authority, it is know as what type of insurer? Authorized or admitted What document is required for an insurance company to transact ...

Insurance Exam Questions and Answers Already Passed An insurer's ability to make unpredictable payouts to policyowners is called Liquidity A type of insurer that is owned by its policyowners is called Mutual Which of these are considered to be events or conditions that increase the chances of an insured's loss? Hazards An example of risk sharing would be Doctors pooling their money to cover malpractice exposures. How do insurers predict the increase of individual risks? Law...