Guaranty fund Study guides, Class notes & Summaries

Ohio State Exam Life and Health Insurance Questions and Answers (2024 / 2025) (Verified Answers) Refund Life annuities - CORRECT ANSWER little risk. The insurance company promises to make a refund of the account balance if the auunitant dies before collecting it all Joint and Survivor Annuity - CORRECT ANSWER Pay survivor amount.. after first party dies usually reduced Joint lfie annuity - CORRECT ANSWER pay two people at the same time and payments stop entirely when the first part...

A reciprocal insurer typically has an administrator who manages the premiums collected from the group's members. This administrator is called a(n) -reciprocal commissioner -attorney general -attorney-in-fact -reciprocal director - ANSWERattorney-in-fact Which of the following financial products creates an instant estate, no matter when the date of death? -Mutual funds -Life Insurance -Certificate of Deposit -Deferred Annuity - ANSWERLife Insurance Who regulates an insurer's c...

NJ Real Estate 2024 Exam Questions with Correct Answers Broker - Answer-is authorized to operate a real estate business, hire salespersons, and to charge the public for services. Broker-salesperson - Answer-Has fulfilled all the requirements of a broker yet chooses to work in a sales capacity for and in the name of another broker. Continuing Education - Answer-All Broker, broker-salespersons, and salespersons licensees must complete 12 hours of approved continuing education courses befor...

Broker CORRECT ANSWER According to the insurance law, who is the principal? 90 days CORRECT ANSWER An application as a resident agent must be made in how many days if an individual establishes a principal place of residence within Pa from another state? a temporary license CORRECT ANSWER issued for 180 days for surviving spouse, surviving inactive officer or partner, legal representative. Can be used upon death or incompetency of producer, or when individuals are serving in the military. ...

1. When must a contractor's home improvement license be renewed? ANS By June 30th- every 2 years 2. What is the initial assessment for the home improvement guaranty fund of every home improvement contractor? ANS $100 3. Requirement of a home improvement contract ANS The customer is given a signed copy of the contract before work begins 4. What is the maximum deposit a contractor may require to build a deck attached to a house if the total contract if for $5400 ANS $1800 5. A contractor ...

DC Real Estate Exam Practice Test Questions with Complete Solutions Trina applied for inactive status for her DC broker's license when her son was diagnosed with leukemia four years ago. How long does she have to reactivate her license from the time it was made inactive? 5 years which entity provides budget and resource support to the DC real estate commission? department of consumer and regulatory affairs colin was found guilty of a minor violation of dc license law. the commissio...

MD Real Estate License Exam Complete Solutions -The license should've also come with a pocket card. ️Seo-yun completed all of her Maryland salesperson licensure requirements and submitted her documentation and licensing fees to the commission. A few days later, her broker presented her with her new license. What's wrong with this scenario? -The license should've also come with a pocket card. -Licenses are issued at least 30 days after submission of documentation, not within a few d...

NJ Real Estate practice Exam Questions with Correct Answers Who must be licensed? - Answer-Anyone who takes part in a real estate transaction in NJ for another person for a fee, commission, or other valuable consideration Real Estate Commission - Answer-Composed by 8 members appointed by the governor, 5 r/e brokers who have been licensed as such for at least ten years, 2 members are chosen from the general public, and one member represents a department of the state government Classes o...

Passing mark for exam (%) 70% Time required to retake exam, if failed Minimum 30 days following the first failure. After each subsequent failure, wait 60 days. How long are exam scores valid for? 2 years Actual loss - The cost to correct or complete a home improvement that is inadequate or incomplete. - Homeowners may recover up to $20,000 per contract, not to exceed the amount paid to the contractor. The Guaranty Fund Protects homeowners who hire licensed home...

MHIC Study set Exam 2024 Q&A Verified Which title is the Home Improvement law contained in? - CORRECT ANSWER-Title 8 of the Business Regulation Article of the Annotated Code of Maryland. How many sections or subtitles is the law divided into? What are they? - CORRECT ANSWER-8 sections. 1. Definitions and Jurisdiction. 2. The Commission. 3. Licensing and Disciplinary Actions. 4. The Guaranty Fund. 5. Home improvement contracts and miscellaneous provisions. 6. Prohibited acts and penal...