Which of the following is required of branch agencies a. must be listed under the parent agency recent with the department of financial service b. Establish an office in the county where the company is based c. Be based in the home county of the agent in charge d. Be open to the public during regular business hours optitios may legally sell insurance in the state of Florida
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- 16.) Insurers may be insured by: A. reinsurers B. Risk retention groupsWhen a lender refuses to grant credit in substantially the amount or on substantially the terms requested in an application, which of the following actions must be issued? A) Denial form B) Adverse action C) Termination notice D) Application denial action20) The certificates of indebtedness of the issuer to the holder is a type of loan, where corporations are borrowing from general public and to be repaid on the date of maturity. What does the term certificate stand for? a. All b. Share c. Bond d. Retained earnings
- When the following is classified as nonmonetary? a. Allowance for doubtful accounts b. Accumulated depreciation c. Premium on bonds payable d. Advances to unconsolidated subsidiaries9 who has the right of first choice in selecting a collecting bank. A. The presenting B. The drawee c.The remitting bank D. The principleOn January 1, 20X4, Gold Company purchased a computer with an expected economic life of five years. On January 1, 20X6, Gold sold the computer to TLK Corporation and recorded the following entry Consolidation Worksheet Entries Cash Accumulated Depreciation Computer Equipment Gain on Sale of Equipment Debit 39,000 Credit 16,000 40,000 15,000 TLK Corporation holds 60 percent of Gold's voting shares. Gold reported net income of $ 45,000 including the gain on the sale of equipment, and TLK reported income from its own operations of $ 85,000 for 20x6. There is no change in the estimated economic life of the equipment as a result of the intercompany transfer. In the preparation of the 20X6 consolidated balance sheet, computer equipment will be Multiple Choice Credited for $24,000. O Debited for $1,000. Debited for $15,000 Debited for $ 40,000
- Which of the following is induded under the jurisdiction of the Department of financial Service A) insurance agents B) Financial institution regulation C) Insurance policy forms and rates D) Healthcare administrationD) The title company decides which index type the ARM will use when an applicant closes the loan, and the index type generally will change after loan closing. A Loan Estimate is considered expired and is permitted to be revised by the creditor without additional justification if the consumer indicates an intent to proceed with the transaction more than: A) 1 business day after the Loan Estimate was provided. B) business days after the Loan Estimate was provided. C) 7 business days after the Loan Estimate was provided. D) 10 business days after the Loan Estimate was provided.Gamestop Corp. said the following about its gift card sales in its most recent (2019) annual report:“We establish a liability upon the issuance of merchandise credits and the sale of gift cards. Revenue is subsequently recognized when the credits and gift cards are redeemed.”When Gamestop sells merchandise to a customer who is using a Gamestop gift card to purchase the merchandise, what is the impact on Gamestop’s financial statements? (Ignore any inventory effects) Liabilities decrease and cash decreases Liabilities increase and the Income Statement decreases Liabilities decrease and the Income Statement increases Liabilities decrease and cash decreases No effect because the transaction was already booked when the customer purchased the gift card
- Help A gesner Which of the following is required of branch agencies a. must be listed under the parent agency recent with the department of financial service b. Establish an office in the county where the company is based C. Be based in the home county of the agent in charge d. Be open to the public during regular business hours. Com18- An agreement in which recognized company sells the right for others to use company name and operating plan to sell products or services is termed as: a. None of the options b. Franchising c. Manufacturing d. MiningWhich item of personal property is not excluded under Coverage C of the Dwelling Program? A: Credit card or fund transfer card loss in any amount when stolen. B: Manuscripts. C: Animals, birds or fish owned by the insured. D: Mausoleums owned by the insured.