With regard to the RECO insurance program, which of the following statements is true?
1) Registrants may select one of three coverages offered under the program
2) Registrants may collect commission when not insured, provided a Declaration of Non-Insurability is provided to the consumer.
3) Reporting a claim or potential claim does not mean that the registrant is responsible or liable for negligence.
4) Registrants are not required to pay insurance premiums after the first two-year registration cycle.