Michigan Residential Builder Licensing Exam BUNDLE|2023 Correct Questions And Answers!

Which is TRUE regarding the annuitant, when the annuitant is NOT the policy owner? 1. The annuitant has the right to name the beneficiary 2. The annuitant is the person paying the premiums 3. The cash value is available to the annuitant for withdrawals 4. Annuity payments will be based ...

Actuarial Department - ANSWER Calculates policy rates, reserves, and dividends Alien Insurer - ANSWER An insurer whose principal office and domiciled location is outside the country Admitted Insurer - ANSWER An admitted or authorized insurer is an insurer who has received a certificate of auth...

A health insurance policy that allows an insurer to change the policy owners premiums, but not cancel the policy is called - ANSWER Guaranteed renewable policy Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insur...

The Commissioner of Insurance is appointed by the Governor for a term of - ANSWER 4 years All of the following are examples of insurance transactions except: A. soliciting applications for insurance B. delivering policies C. licensing of producers D. collecting premiums - ANSWER Correct answ...

Created to serve as a complete, comprehensive code regulating the construction of single-family, two-family and buildings consisting of three or more townhouse units. - ANSWERSIRC (International Residential Code) Administrative - ANSWERSFirst 2 chapters of code book are True - ANSWERSPlans or ...

A layer of new wood on a tree just under the bark is called __________. · Xylem · Sap · Cambium · Phloem - ANSWERSCambium The Department and the __________ may remove a limitation. Hearing Examiner Director Board Commission - ANSWERSBoard A salesperson shall turn over money for a s...

5 days - ANSWERSTime allotted for a residential builder to return sales person's license and for sales person to return I.D. card by certified mail 10 days - ANSWERSThe department, after investigation, may request a licensee to appear at such investigative conference. Notice of a request for a c...

What is the 1st offense penalty for engaging in the practice of residential building without a license? - ANSWERSNot less than $5K and not more than $25K and/or 1 year What is the penalty for engaging in the practice of residential building, resulting in a death? - ANSWERSNot less than $5K and no...

What is not a step in lead paint safety? - ANSWERSusing a shopvac Each one gallon of water added to one yard of concrete will... - ANSWERSReduce the PSI strength by 150. A construction lien can be placed on? - ANSWERSResidential, and Commercial property. Trench boxes are used.... - ANSWERSt...

Tool used to determine concrete slab grade - ANSWERSstrike-off bar What does a plywood span rating of 24/16 mean. - ANSWERSMax span of 24" for a roof and 16" for a floor What is the best material to use for repairing cracks in a foundation? - ANSWERShydraulic cement Vegetation such as tre...

What is the first offense penalty for engaging in the practice of residential building without a license? - ANSWERSNot less than $5,000 and not more than $25,000 and/or one year in prison. Subsequent violations can extend the prison time to up to 2 years. What is the penalty for engaging in the p...

M&A contractors include: - ANSWERSA = Carpentry B = Concrete D = Excavation G = Insulation Work I = Masonry J = Painting & Decorating K = Siding M = Roofing If more than one office is used for work, the branch office must be __________ - ANSWERSLicensed The one who obtains the residenti...

Verification Form I-9 must be completed by applicants providing proof of identity and employment eligibility within ______ of employment. - ANSWERS3 days What type of business is the easiest to establish and allows the owner to determine how profits are used although they are personally liable fo...

A building inspector has been notified of a life threatening condition on a job site. When may the building inspector review the job site? - ANSWERSanytime As a licensed builder, you are applying for a permit to construct a new house. Which of the following is required to be submitted? - ANSWERSD...