To insure that a minimum balance of $1 million is maintained in the real estate education, research, and recovery fund the Commission, in addition to the license fees, may assess each licensee and amount not to exceed:
A. $100 per year, to be paid each year.
B. $100 per year, to be paid upon renewal of license.
C. $30 per year, to be paid each year.
D. $30 per year, to be paid upon renewal of license.
Answer: D. $30 per year, to be paid upon renewal of license.
Business
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Indicate whether the statement is true or false
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Ramon's premium payment was due on June 1, but the company did not receive it until June 28. Which policy provision kept Ramon's policy from lapsing?
A) Reinstatement B) Automatic premium loan C) Grace period D) Facility-of-payment"
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