Penalty clauses Study guides, Revision notes & Summaries

Insurance commisioner - •Appointed by the governor •6 year term •must sever all ties with any insurance company except as a claimant. Examination of insurers - •Must examine each domestic insurer at least once every five years, and as often as deemed necessary. •May examine an alien or foreign insurer licensed to transact insurance in this state at least once every five years. Insurance examination cost - The cost must be paid by the company being examined. Refusal of ex...

AP GOVERNMENT REVIEW SET10th Amendment - correct answer Powers not expressly given to federal government by the Constitution are reserved to states or the people. Also known as "reserved powers amendment" or "states' rights amendment" 13th Amendment - correct answer Abolished slavery. First of three "Reconstruction Amendments" passed after Civil War (1865-70) 14th Amendment - correct answer (1) All persons born in the U.S. are citizens; (2) no person can be deprived of life, liberty...

MN Practice Exam Questions and Answers with Verified Solutions Charlene, a landlord in Minnesota, collected screening fees from several applicants. When can she deposit these fees? She can deposit the fees after all applicants have been screened and either rejected or offered a rental unit. Zenya works for a lender in Minnesota and is initiating foreclosure by action proceedings on a property. If you were to look at the security instrument for this property, which of these clauses is ...

A landlord inspects his rental property after the tenant moves out. He finds damage that is beyond normal wear and tear and decides to deduct some money from the security deposit to cover the damage. The tenant has _______ days to object in writing to the deduction. - correct answer -15 Daniel and Eduardo buy 20 acres with the plan to rebuild apartments. From their heirs point of view which would be the best way for them to hold title - correct answer -Tenants in commin Tenancy by the Enti...

sales general practice exam – Pearson Questions with 100% Correct Answer Which of the following clauses in a conventional mortgage instrument entitles the lender to accelerate the loan if the loan is assumed? Prepayment Right-to-sell Due-on-sale Variable interest rate - Answer- Due-on-sale If the value of a property is affected by negative forces outside the property, which are beyond the control of the owner, this is referred to as: physical deterioration accrued depreciation func...

1. Successions with a Will - Who signs?: No liquidator = all legatees W/ a liquidator = full admin liquidator or simple admin liquidator with authorization from legatees and legal heirs. 2. Successions w/o a Will - Who signs?: No liquidator = All legal heirs W/ a liquidator = liquidator authorized by legal heirs 3. Successions - What documents do you need?: During liquidation of the suc- cession? -Declaration of transmission (w/ or w/o a Will) -If no Will and there's a liquidator, an Act o...

Insurance commisioner - •Appointed by the governor •6 year term •must sever all ties with any insurance company except as a claimant. Examination of insurers - •Must examine each domestic insurer at least once every five years, and as often as deemed necessary. •May examine an alien or foreign insurer licensed to transact insurance in this state at least once every five years. Insurance examination cost - The cost must be paid by the company being examined. Refusal of ex...

Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions A public adjuster represents the interest of: A. The insurer B. The Insured C. The employer D. The interest of the general public - Correct Answer -B. The insured Which of the following is the type of report that indicates the initial results of a claim investigation? A. Field Report B. Interim Report C. Full Re...

Industrial purchasing exam questions And Answers, Verified Solution Name the six different stages of vW's purchasing process model and their main activities/elements Determining specification Different types of specifications are functional, technical, quality, maintenance, logistics, legal, budget, etc. Selecting supplier 8 steps: (1) choosing between turnkey or partial subcontracting, (2) using the purchase order specification to form the bidder’s long list, (3) send out RFI to these...

Azure Tide 12 Questions and Answers Graded A A contract for deed is also called a land contract. True Florida is a title theory state. False, Florida is a Lien Theory state When a buyer assumes an existing mortgage, a partial release will be issued which verifies the amount of the unpaid balance, interest rate, and date to which interest has been paid prior to the assignment. False Hypothecation allows a person to live in a home that has been pledged as collateral. True For every discount po...