Guaranty fund Study guides, Class notes & Summaries

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 bec...

Michigan Surplus Lines Insurance Exam Prep questions and answers latest top score. (1)Surplus Lines premiums typically expand during: A) A soft Market B) A Hard Market - correct answers.A Hard Market. Surplus lines premiums typically expand during a hard market. (2) During the time of a hard market, insurers will: A) Tighten their underwriting standards B) Loosen their underwriting standards - correct answers.A) Tighten their underwriting standards. Tighten and ra...

Washington State Surplus Exam Prep Questions And Answers Surplus Lines Insurance Insurance coverage provided by non-admitted insurers for risks that are not available in the admitted market due to their unique or high-risk nature. Admitted Insurer An insurance company that is licensed and regulated by the state, and its policies are protected by the state's guaranty fund. Non-admitted Insurer An insurance company that is not licensed in a particular state but is allowed to pro...

The Insurance Guaranty Fund Association is? - ***funded by admitted insurance companies through assessments • in Florida an element of an insurance transaction would be? - ***Issuing an insurance contract • Under which circumstance may a licensed agent in Florida represent an unauthorized entity? - ***Never • According to Florida law, when must an agent deliver the Outline of Coverage to a Medicare Supplement applicant? - ***At the time of application • An agent may provide a pr...

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...

Maryland Real Estate (Law) Questions and Answers Already Passed Licensed sales persons may represent: a. any owner who directly employs them b. not more than one owner at one time c. only a broker with whom they are affiliated d. any broker who is duly licensed, at any time c. only a broker with whom they are affiliated The license certificate issued to a salesperson must be: a. carried by the salesperson at all times b. displayed by the broker in his or her place of business ...

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...

OHIO LIFE, ACCIDENT AND HEALTH EXAM WITH 300 QUESTIONS AND ANSWERS (100% CORRECT VERIFIED ANSWERS/ OHIO LIFE, ACCIDENT AND HEALTH INSURANCE LICENSE PRACTICE EXAM (BRAND NEW!) In the event of a Health Insurance Company becoming insolvent, the __________ will pay up to $100,000 for qualifying claims - ANSWER-Ohio Guaranty Fund Time Limits on Health Insurance are Notice of claim: 20 days Claim forms: 15 days Proof of Loss: 90 days Pay the claim: Immediately Wait and see: 60 days Laws...

Define home improvement - The addition, alteration, conversion, improvement, modernization, remodeling, repair or replacement of a building or part of a building that is used or was designed to be used as a residence or dwelling place or structure adjacent to that building or an improvement to land adjacent to that building Is a building of a swimming pool, deck, pier or porch included in Home Improvement? - Yes Is work done on apartment complexes of more than 4 units considered home impro...

Financial Services Commission The governor and cabinet who select two officials to regulate banking, securities, and insurance Division of Finance Department responsible for licensing, examining and regulating non-depository financial services companies in Florida Bureau of Finance Regulation Conducts examinations of the books and records of mortgage brokers, mortgage brokerage businesses and mortgage lenders to ensure compliance Bureau of Money Transmitter Regulation Co...