Sc insurance brokers Study guides, Class notes & Summaries

Nonresident Licensing Requirements -ANSWER- 1. File application on form prescribed by the director. 2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to operate in SC. 3. File an affidavit stating he is a licensed broker in another state. 4. Pay a biennial fee of $200. What is the term of a brokers license? -ANSWER- Brokers licenses are indefinite unless suspended or revoked as long as licensing fees are paid. Can m...

Resident Licensing Requirements - ANSWER-1. Be licensed as a resident property and casualty insurance producer. 2. Pass the SC broker licensing examination with 70% or better. 3. Pay a biennial fee of $200 4. File surety bond in favor of SC in amount of $10,000. Nonresident Licensing Requirements - ANSWER-1. File application on form prescribed by the director. 2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to opera...

SC Insurance Brokers Exam Questions and Answers

Resident Licensing Requirements - Answer 1. Be licensed as a resident property and casualty insurance producer. 2. Pass the SC broker licensing examination with 70% or better. 3. Pay a biennial fee of $200 4. File surety bond in favor of SC in amount of $10,000. Nonresident Licensing Requirements - Answer 1. File application on form prescribed by the director. 2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to...

Agency disclosure requirements apply in all of the following transactions EXCEPT A) resale of foreclosed properties B) commercial leases C) new construction D) multifamily sales - correct answer B) commercial leases The period of time over which an improvement to the property will remain useful for its original purpose is known as its a. amortized life. b. chronological life. c. actual life. d. economic life. - correct answer ...

SC Life, Accident, Health accurate 100% Reciprocal Agreement -ANSWER Two states allowing for non resident license What two brokers dont need a license -ANSWER Surplus and Excess Fine for selling ins without license? -ANSWER $10,000 Who examines foreign and alien insurers? -ANSWER Regulatory authority What is the biennial appointment fee? -ANSWER $40 What is the application fee? -ANSWER $25 What is Section 1034? -ANSWER Authorizes the attorney general to provide civil and c...

PSI Test Practice Questions and answers, 2022/2023. Graded A+. Questions bank Document Content and Description Below PSI Test Practice Questions and answers, 2022/2023. Graded A+ Agency disclosure requirements apply in all of the following transactions EXCEPT A) resale of foreclosed properties B) commercial leases C) new construction D) multifamily sales - B) commercial leases The period of time over which an improvement to the property will remain useful for its original purpose is known as i...

The law which requires that transfers of real property ownership be in writing is known as the... - ANSWER-statute of frauds In a VA loan, there must be... - ANSWER-an approved appraisal When a land contract is entered into... - ANSWER-the buyer acquires equitable title A 5 bedroom, 1 bathroom residence is an example of what type of depreciation? - ANSWER-Functional Name 3 essential requirements for a valid deed... - ANSWER-1. The buyer and seller must be named 2. Words of Conveyanc...