A company that is licens Study guides, Class notes & Summaries

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A producer who is acting as an agent is representing: A The insured, the applicant and the beneficiary B Always the insured C The insured and the insurer D Always the insurer - CORRECT ANSWER-D In order to be valid, a contract must be between individuals considered legally able to enter into an agreement. This principle is known as: A Restricted persons B Considerations C Competent parties D Agreement - CORRECT ANSWER-C A company that is licens

A seller signs a listing contract with a firm. Who is the agent and who is the principal? ______________ - ANSWER The seller is the principal. The firm is the agent. A buyer asks a listing agent to draft an offer. The buyer does not sign a buyer agency agreement. Is the buyer a customer or a client? - ANSWER The buyer is a customer. What kind of agency is a firm practicing if the firm represents just one party in the transaction? - ANSWER Single agency When can a firm engage in multiple...

Insurer insurance company or carrier Insured the person who bought insurance or client principle of indemnity this principle states that the insured will be restored to the same financial condition as before the loss. The insured cannot profit from an insurance payout. This considers depreciation. Underwriting Process of determining whether the risks of a loan are acceptable to the insurer or not, what limits will be issued and at what premium rate. This process classifi...

NAB CORE Practice Exam 2023/2024 1. 1. Which one of the following steps should be taken first in a risk manage- ment program? A. Purchasing of adequate insurance B. Conducting of employee safety drills C. Identifying hazards and risks D. Conducting staff in-services on incident reporting and accident preven- tion.>>>>C. Identifying hazards and risks 2. 2. Which of the following professionals is authorized to dispense medica- tions? A. registered nurse B. licensed nurse, ...

NAB CORE Practice Exam 2023/2024 1. 1. Which one of the following steps should be taken first in a risk manage- ment program? A. Purchasing of adequate insurance B. Conducting of employee safety drills C. Identifying hazards and risks D. Conducting staff in-services on incident reporting and accident preven- tion.>>>>C. Identifying hazards and risks 2. 2. Which of the following professionals is authorized to dispense medica- tions? A. registered nurse B. licensed nurse, p...

1. What seemed to be important in "Blurred Lines" being found to be copyright in- fringement? 2. What did the lawyers for each side argue in the Blurred Lines copyright case? 3. What did the jury conclude in the Blurred Lines case? 4. How was it differ- The case has prompted debate in music and copy- right circles about the difference between plagiarism and homage, as well as what impact the verdict would have on how musicians create work in the future. "Throughout this case...