Describe a fiduciary duty - Study guides, Class notes & Summaries

Arkansas State Laws Exam With 100% Correct Answers 2024/Arkansas State Laws Quiz. Which of the following statements describing the fiduciary and contractual relationships between producers, clients, and insurers is correct? A A licensee appointed as an agent by one insurer is considered an agent by all insurers B All funds received by a licensee must be held in a trust, but the licensee may use the funds to help out an insolvent insurer C All funds received by licensee must be held in...

Arkansas State Laws Exam With 100% Correct Answers 2024/Arkansas State Laws Quiz. Which of the following statements describing the fiduciary and contractual relationships between producers, clients, and insurers is correct? A A licensee appointed as an agent by one insurer is considered an agent by all insurers B All funds received by a licensee must be held in a trust, but the licensee may use the funds to help out an insolvent insurer C All funds received by licensee must be held in...

Principal Broker - correct answer -A principal real estate broker is an individual who may or may not be responsible for the professional real estate activity conducted by himself and others working in the same office. Principal Broker must be - correct answer -18 years of age; background check; educational requirements; real estate license for 3 years; passed brokers exam To become eligible for a principal broker license, a broker must have held an active real estate license for a period ...

©BRAINBARTER 2024/2025 California DRE Salesperson Exam Questions With 100% Verified Answers. What is the concept of "fee simple" ownership? - answerThe most complete form of ownership in real estate, providing full possessory rights and responsibilities for an indefinite duration. Define "leasehold estate." - answerA tenant's right to occupy real estate during the term of the lease, typically without ownership of the property. What are restrictive covenants? - answerPrivate agreemen...

Principal Broker - ANSWER A principal real estate broker is an individual who may or may not be responsible for the professional real estate activity conducted by himself and others working in the same office. Principal Broker must be - ANSWER 18 years of age; background check; educational requirements; real estate license for 3 years; passed brokers exam To become eligible for a principal broker license, a broker must have held an active real estate license for a period of not less than t...

Principal Broker - ANSWER-A principal real estate broker is an individual who may or may not be responsible for the professional real estate activity conducted by himself and others working in the same office. Principal Broker must be - ANSWER-18 years of age; background check; educational requirements; real estate license for 3 years; passed brokers exam To become eligible for a principal broker license, a broker must have held an active real estate license for a period of not less than t...

Personal Lines Insurance Practice Exam Questions and Answers Latest | 100% Correct. Bobby, age 16, borrows his parents' car without their permission and gets into an accident. Which of the following statements about coverage under the parents' personal auto policy is CORRECT? A) Bobby is covered by his parents' policy because he is included in the definition of named insured. B) Bobby is not covered for this accident because he used the car without permission. C) Bobby is not covered ...

Principal Broker A principal real estate broker is an individual who may or may not be responsible for the professional real estate activity conducted by himself and others working in the same office. Principal Broker must be 18 years of age; background check; educational requirements; real estate license for 3 years; passed brokers exam To become eligible for a principal broker license, a broker must have held an active real estate license for a period of not less than three years True ...

An agency relationship may be involuntarily terminated by which of the following? By destruction of the property through fire, vandalism, or natural disaster When a seller authorizes a unilateral offer of subagency to all MLS members, any agent who shows the listed property automatically becomes A subagent An agency relationship may be involuntarily terminated by which of the following? Condemnation of the property Sally is a subagent working for Seller Pat. What does Sal...

Personal Lines Insurance Practice Exam Questions and Answers Latest | 100% Correct. Bobby, age 16, borrows his parents' car without their permission and gets into an accident. Which of the following statements about coverage under the parents' personal auto policy is CORRECT? A) Bobby is covered by his parents' policy because he is included in the definition of named insured. B) Bobby is not covered for this accident because he used the car without permission. C) Bobby is not covered ...