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Agent's Report - Provides the agent's personal observations concerning the proposed insured, it is not a part of the entire contract, but a part of the application Application - The starting point and basic source of information used by the company in the risk selection process Application Par...

A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered: - Equity A borrower would obtain funds for an FHA loan from: - Primary market A broker acting as a property manager for an owner would consider his relationship to be: - Fiduciary A broker a...

When the county assessor evaluates real estate for the purpose of taxation, this is called: - Assessed value What lien has priority first: - Property taxes Property taxes become a lien the first day of: - January If a property is not bid at a tax foreclosure sale: - Anyone can later buy the tax ...

The priority of a lien is, in the absence of fraud, created as of the date it was: - Recorded "Gross income" best describes: - Income before expenses "Net income" best describes: - Income after expenses Quiet Enjoyment" in a lease means: - The lease will not be terminated if the building is ...

A commercial property was in foreclosure and after the sale, the mortgagee did not receive enough money to satisfy the note. Which of the following statements is true? - The lender can sue for a deficiency judgment against the borrower A borrower can be relieved of primary responsibility for a mo...

What did Martin Luther King, Jr. do? - fought for civil rights Why does the American flag have 50 stars? - One star for each state. Who was the first President of the United States? - George Washington What was one important thing that Abraham Lincoln did? - Led the U.S. during the Civil War Whe...

A life annuity with period certain is characterized as - guaranteeing benefit payments for a stated minimum number of years a life insurance company just paid a $100,000 death benefit to a beneficiary. when the insured died, the cash value was 15,000 and the total premiums-paid equaled 10,000. ho...

_____ day notice of discharge or failure to pay - 30 Day 3 meals each day with not more than ________ hours between the evening and breakfast meals unless a snack is provided and resident group agrees - 14 hours A comprehensive assessment must be completed - when there is a significant change A ...

what would be the disadvantage of naming a trust as a beneficiary of a life insurance policy trusts cannot be formed for life insurance purposes trust administrations fees would reduce policy proceeds trusts cannot be used if a minor is the beneficiary trustee must be a bank or brokerage - trust...

Mary is interested in a parcel of real estate owned by Kathy. Mary has a title report that shows the property is encumbered by several liens. The lien with the highest priority is the lien: a. of lowest amount b. of highest amount c. first recorded d. first in date - Answer-c. first recorded T...

A policy owner suffers a covered accident and health insurance loss in June 30 and submits the proof of loss to the insurer July 10. If the policy owner cancelled the coverage on July 2, how will the insurance company handle the claim? - Claim must be paid after proof of loss is received A health...

Which of these is NOT considered a federal punishment for unfair and deceptive insurance practices? - Community Service A Medicare supplement policy is required to do which of the following? - Provide a 30 day freelook period A certificate of coverage for a group health policy is best described a...