Definitions broker Study guides, Class notes & Summaries

LML4805-Insurance Law EXAM PACK 2022. DEFINITIONS Distinguish (in a single sentence, where possible, and with theaid of examples, where necessary) between: QUESTION 1: The insured and the person concluding the insurance contractwith the insurer  the person taking out the insurance (ie, the person concluding the contract with the insurer) A may insure his or her own interest in his or her own house. A may insure his or her own interest in B’s house. A may insureB’s interest in hi...

Law of Agency Study Guide Questions and Answers Rated A+ What are the duties of an agent? OLDCAR - Obedience Loyalty Disclosure Confidentiality Accounting of funds Reasonable care and due diligence General agent An individual has the right to represent his or her principal in a particular type of transaction or business. One common example is the property manager. Special agent The most limited of all the agency relationships. The agent may perform only limited duties for the principal. The ag...

The Amend/Extend Contract With Broker is used to change : - Answer- Any contract to which the broker is a party According to Rule F on Commission Approved Contracts what sections may be omitted from the Contract to Buy and Sell Real Estate: - Answer- non-applicable financing conditions In preparing a Contract to Buy/Sell, a broker can not put exculpatory language into: - Answer- Additional Provisions of a commission approved contract "MEC" in a contract means: - Answer- Mutual Executi...

LML4805 - Insurance Law EXAM PACK 2022. DEFINITIONS Distinguish (in a single sentence, where possible, and with theaid of examples, where necessary) between: QUESTION 1: The insured and the person concluding the insurance contractwith the insurer  the person taking out the insurance (ie, the person concluding the contract with the insurer) A may insure his or her own interest in his or her own house. A may insure his or her own interest in B’s house. A may insureB’s interest in ...

The Amend/Extend Contract With Broker is used to change : - Any contract to which the broker is a party According to Rule F on Commission Approved Contracts what sections may be omitted from the Contract to Buy and Sell Real Estate: - non-applicable financing conditions In preparing a Contract to Buy/Sell, a broker can not put exculpatory language into: - Additional Provisions of a commission approved contract "MEC" in a contract means: - Mutual Execution of Contract As per the Real Est...

COLORADO CONTRACTS AND REGULATIONS EXAM REVIEW QUESTIONS & ANSWERS/ VERIFIED. The "Conway-Bogue" decision includes all the following statements: - -the actions of licensed real estate agents in the State of Colorado would be considered practicing law, the documents must be prepared on commonly used printed standard and approved forms, and that the broker may not charge for preparing documents that are part of the transaction. Conway-Bogue decision created what rule? - -F-2 which allow...

67 Nevada Life, Accident, Health Insurance Exam Practice Questions and Answers Document Content and Description Below 67 Nevada Life, Accident, Health Insurance Exam Practice Questions and Answers 1. Health care accounts and Dependent care accounts Ans: What are the 2 types of Flexible Spending Accounts? 2. Cash value is guaranteed Ans: Concerning a Whole Life Policy, which of the following statements is correct? 3. Unearned premiums are retained by the insurance company Ans: According to the ...

Colorado Contracts and Regulations Exam (2023/2024) Rated A+ The "Conway-Bogue" decision includes all the following statements: the actions of licensed real estate agents in the State of Colorado would be considered practicing law, the documents must be prepared on commonly used printed standard and approved forms, and that the broker may not charge for preparing documents that are part of the transaction. Conway-Bogue decision created what rule? F-2 which allows licensed brokers to practice ...

The Real Estate License Act (TRELA) Exam 1 Quiz Questions Part 2 Already Passed Which of these IS NOT covered in The Real Estate License Act (TRELA) described above? 1. Requirements for establishing and maintaining a real estate business 2. Activities prohibited for licensees, disciplinary processes, and disciplinary actions 3. Structure and purpose of the Texas Real Estate Commission Which of these IS NOT a subchapter subject matter addressed by TRELA? The confidentiality of infor...

1. bank 2. commercial bank 3. savings & loans 4. credit union 5. mortgage broker 6. mortgage banker - 1. bank - full service 2. commercial bank - originate largest amount of loans without using depositor's funds. 3. savings & loans - smaller local banks that use depositors funds to originate residential mortgage loans. AKA savings bank or thrift 4. credit union - takes deposits from members and pay dividends. Offer high interest rates to depositors and low loan rates to borrowers. 5....