Florida business entities - Study guides, Class notes & Summaries

Florida Cam Actual Exam (Questions And Answers) A Community Association is generally defined as real or personal property, owned by two or more entities, which share the responsibility for the costs of maintenance and administration - CORRECT ANSWER-True Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the purchase - CORRECT ANSWER-True The Florida Fair Housing Act prohibits discrimination on the basis of handicap - CORRECT ANSWER-True A va...

Office of Financial Regulation (OFR) - The Office. Regulatory authority in Florida. Responsible for overseeing banks, credit unions, savings associations, etc. Licenses and regulates non-depository finace entities. Financial Services Commission (The Commission) The head of the Office of Financial Regulation and the Office of Insurance Regulation. Its memebers include the Governor, Attorney General, Chief Financial Officer and Commissioner of Agriculture Commission. responsible for final...

Florida Real Estate Class Final Exam Questions and Answers 100% Pass A Business Broker - Correct Answer ️️ -Specializes in the sale, purchase or lease of businesses. Is required to have a real estate license and may be licensed as a real estate broker or sales associate Follow-Up is - Correct Answer ️️ -Keeping in contact with the new owner after the closing of the sale A builder constructs a house on an owner's lot according to the owner's plans and specifications. This is cal...

LIFE, HEALTH & VARIABLE ANNUITY (2-15 EXAM) QUESTIONS AND ANSWERS LATEST UPDATE 2024/2025 (100% Correct) Insurance concept founded on the ability to predict the approximate number of deaths or frequency of disabilities within a certain group during a specific time. - CORRECT ANSWERS Law of Averages An owner is worried that employees will help themselves to products on the shelf without paying for them. This is an example of what type of hazard? - CORRECT ANSWERS Moral Hazard Won't fly an ...

Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review Already Passed Peril Something that causes a loss. Hazard Something that increases the probability that a loss will occur. Warranty A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment The fail...

Florida Cam Exam Questions and Answers Already Passed A Community Association is generally defined as real or personal property, owned by two or more entities, which share the responsibility for the costs of maintenance and administration True Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the purchase True The Florida Fair Housing Act prohibits discrimination on the basis of handicap True A valid Declaration of Condominium must contain easements ...

What is a legally binding agreement? It is structured by formal, legal documents that define property rights, rules and restrictions It grants rights and/or imposes liabilities and responsibilities on the community association and members It provides governance, business, and communal aspects of administering, maintaining and enhancing the property Could also be considered a "contract" What is a legally binding agreement referred to in certain community associations? A covena...

Entire Contract Provision - ANSWER found at the beginning of the policy, saying that the policy cannot refer to any outside documents as being part of the contract and prohibiting the insurer from making any changes to the policy after it has been issued. (can only make good changes not bad) Insuring Clause - ANSWER sets forth the company's basic promise to pay benefits upon the insured's death. Free-Look Provision - ANSWER gives policyowners the right to return the policy for a full pre...

A Community is defined as Real or personal property owned by two or more entities, with a "legally binding agreement (covenant) to share responsibility and costs for maintenance and administration of property, assets, and association, and with specific rights granted to the members. Community Associations are structured by Formal (in writing), legal documents defining property rights, rules and restrictions. Community Associations are also referred to as Covenant Concept...

A Community Association is generally defined as real or personal property, owned by two or more entities, which share the responsibility for the costs of maintenance and administration - ANSWER-True Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the purchase - ANSWER-True The Florida Fair Housing Act prohibits discrimination on the basis of handicap - ANSWER-True A valid Declaration of Condominium must contain easements for ingress and egress...