Commingling - Study guides, Class notes & Summaries

CFP Exam 2020 Questions & Answers CFP Standards of Conduct Sections (6) - ANSWERSA. Duties owed to clients. B. Fin. Planning and Application of Practice Standards C. Practice Standards for Fin. Planning Process D. Duties owed to firms/subordinates E. Duties owed to CFP Board F. Prohibition on Circumvention Section A of CFP Standards of Conduct - ANSWERSDuties owed to Client: 1. Fiduciary Duty 2. Integrity 3. Competence 4. Diligence 5. Disclose and Manage Conflicts of Interest ...

1. Which law is the foundation of statistical prediction of loss upon which rates for insurance are calculated? A) Law of Group Evaluation B) Law of Large Numbers C) Law of Masses D) Law of Averages Answer : B) Law of Large Numbers 2. A producer who fails to segregate premium monies from his own personal funds is guilty of: A) Theft B) Commingling C) Larceny D) Embezzlement Answer : B) Commingling 3. In insurance, an offer is usually made when: A) The completed application is submit...

INSURANCE EXAM QUESTIONS & ANSWERS 2024 which one of these is NOT a type of agent authority? A. Express B. implied C. principal D. apparent - Answer - principal which of these arrangements allows one to bypass insurable interest laws? A. concealment B. indemnity contract C. contract of adhesion D. investor-originated life insurance - Answer - Investor-originated life insurance A policy of adhesion can only be modified by whom? A. The agent B. The applicant C. The primar...

Which of the following would NOT be a violation of the Georgia License Law? A) Falsifying a document used in a real estate transaction B) Failing to advise your broker in writing when buying or selling property for yourself C) Failure to give a copy of a signed offer to the purchaser D) Failure to put a street adress in a legal description - ANSWER D) Failure to put a street adress in a legal description A broker was found guilty of commingling. The Real Estate Commission shall have the...

Jason is the designated broker for Stevenson Land and Homes in Yakima. The firm closes. What happens to Jason's license? It becomes inactive until he affiliates with another firm. Golden Years Realty elects to use closing and title companies to manage earnest money deposits. Jessica, a broker with Golden Years, gets a receipt from Equity Title for an earnest money deposit from a buyer. What must she do with the receipt? Present it to the firm's designated broker for placement in th...

1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 - Answer c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage property for more than one individual or company c. individuals who only list property for sale d. auctioneers who only auction commercial real estate - Answer a. attorneys admitted to practice in...

Real Estate U Final Exam questions Joe Jacobs | Questions and Correct Answers |Latest update 2024/2025 | 100% PASS The Department of State's ability to enforce license laws through reprimand and denial as well as the suspension and revocation of licenses is known as...? - Answer -Administrative Discipline To mingle or mix funds is known as what...? - Answer -Commingling Chris is a real estate broker involved in a residential transaction. When Chris illegally places his client's fu...

llinois Real Estate Practice Exam/ 225 Qs & Ans . Terms like: Title Insurance - Answer: Best evidence of marketable title A borrower has a mortgage loan that requires monthly payments of $936.25 for 10 years and a final payment of $136,287. Type of loan? - Answer: Balloon Loan Brokers should deposit all earnest money checks they receive into an escrow account or trust account to prevent being accused. - Answer: Commingling

What is the form you sign that says you will pay the loan back ? -ANSWER promissory note What is the post licensing grace period after first expiration ? -ANSWER none Deposits is a form of... -ANSWER valuable consideration Physical land and improvements -ANSWER real property Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and Sunday and getting paid commission from both -ANSWER Yes What is the maximum fine per offense ? -ANSWER $5,000 per fi...

The Department of State's ability to enforce license laws through reprimand and denial as well as the suspension and revocation of licenses is known as...? - correct answer Administrative Discipline To mingle or mix funds is known as what...? - correct answer Commingling Chris is a real estate broker involved in a residential transaction. When Chris illegally places his client's funds into his personal account, what is he engaged in...? - correct answer Commingling of Funds The ...