A 15 An insured pays an annual premium to his insurer. B. Twisting. What is this called? Which of the following is not a standard mounting dimension for an electric motor? This pays 2 or 3 times the face amount if death is the result of an accident as defined in the policy and occurs within 90 days of such an accident. Autotrophs (like plants) produce glucose during photosynthesis. What is the purpose of a free-look period in insurance policies? Like a fixed annuity, EIA's have guaranteed minimum interest rates, also less risky than variable annuities, the insurance company also keeps a percentage of the returns. The producer could be found guilty of The life insurance policy clause that prevents an insurance company from denying payment of a death claim after a specified period of time is known as the? ________________ are owned and controlled by their policyholders. In order to to do that, what may happen? All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT A Stocks, securities, or bonds. What type of license should the producer obtain? Which of the following best describes the act? B Materially misrepresents an insurance policy. What information will be stated in the consideration clause of a life insurance policy? In level term and increasing term policies, the premium also remains level for the term of the policy. An insured purchases a policy in 2008 and died in 2013. C His wife dies 10 years later. Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as. Which of the following persons is required to hold a producer license? must ensure a pair that's benefit claim after receiving the product of death? Beneficiaries do not have to have an insurable interest in the policyholder. The consideration clause states that the value offered by the insured is the premium and statements made in the application, so it will include the information about.. The can be changed only with the written consent of that beneficiary. Rebates are allowed if it's in the best interest of the client. When a beneficiary receives payments consisting of both principal and interest portions, which part are taxable as income? She also wished to retain all of the rights of ownership. All of the following are true regarding rebates EXCEPT a) Rebates are only allowed if specifically stated in the policy. D Misrepresentation, How much is an agent's appointment fee? Which policy provision allows this? A. The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. When an employee terminates coverage under group insurance policy, coverage continues in force for how long? Brand managers can use Twitter strategically to accomplish all of the following, except: A local coffee shop conducts a survey of area residents who enter each one of the coffee shops in the area and learns that 85% desire an organic, fair-trade option. She has decided that she would rather use the dividends to help pay for her next premium. What are the classifications of net assets reported in the statement of financial position by private colleges? unit 3: personal and business finance grade boundaries. Articles of merchandise with an invoice value of $5 or less for life insurance agents and $10 or less for property and casualty agents $10 or less are not considered rebates, and are allowed as gifts to insurance applicants or insured. What is this an example of? In decreasing policies, while the face amount decreases, the premium remains constant throughout the life of the contracts. An insured has chosen joint and 2/3 survivor as the settlement option. There is a limit for a withdrawal and the insurer charges a fee. Which of the following individuals could qualify for a temporary insurance license? Coercion, for example, is when the bank won't give you an auto loan unless you agree to buy auto insurance from them. The policyowner of a Universal Life Policy may skip paying the premium and the policy will not lapse as long as.. A policy will pay the death benefit if the insured dies during the 20-year premium-paying period, and nothing if death occurs after the 20-year period. A Discrimination. A 60 year old participate in a 401(k) plan takes a distribution in rolled it over to it I already within 60 days. In which instance would the premium be tax deductible? What best describes what will happen? If the producer continues to violate the entrance code, I knew so penalty will be assessed every? 30 days. An individual has been making periodic payments on an annuity. C Illegal under any circumstances A Partners in a business enter into a buy-sell agreement to purchase life insurance, which states that should one of them die prematurely, the other would be financially able to buy the interest of the deceased partner. Which of the following is an example of a producer being involved in an unfair trade practices of rebating? If a producer discusses policy dividends in a sales presentation, what statement must the producer also make? f. The subtotal in a responsibility income statement that comes closest to indicating the change in income from operations that would result from closing a particular part of the business. If an insured surrenders his life insurance policy, which statement is true regarding the cash value of the policy? A participating life insurance policy may pay a portion of its net earnings to a policyholder, but dividends cannot be guaranteed. When both parties to a contract must perform certain duties and follow rules of conduct to make the contract enforceable, the contract is.. Discrimination. The integer 4 is considered all of the following except a variable. D The president of a company is starting an annuity and decides that his corporation will be the annuitant. B$1,000 C Misrepresentation Within how many days of requesting an an investigative consumer report must an (insurer) notify the consumer in writing that the report will be obtained? All of the following would be considered to be rebating EXCEPT? The agent is guilty of D 20/3 Replace the underlined word with the correct form, How do you play Roblox on a Chromebook without downloading it. If an injured worker has earned 40 quarters of coverage, the worker's status under Social Security disability is? According to the Fair Credit Reporting Act, all of the following would be considered negative information about a consumer: The four essential elements of all legal contracts: The Medical Information Bureau (MIB) was created to protect? All the following are true regarding rebates except? This is a personal use of life insurance known as. Annuities can also be used to.. An insurer devises in a determination strategy in order to quarter a large portion of the insurance market. To qualify for this exemption, they must apply to become resident licensees within a few days of establishing a legal residence within how many days? Which of the following is a true statement regarding taxation of the accelerated benefits? USE an outline format for your notes: An As someone with fine hair that refuses to grow past my shoulders, Ill try anything that claims to give me longer, fuller, thicker hairincluding using castor oil for hair growth. This is due to what provision? She would likely purchase a(n)? A participating insurance policy will pay _________ to the owner based upon actual mortality cost, interest earned and costs. B In the preceding 2 years. There are several types of whole life polices. There are just too many details and specifications which you must be certain of when looking for one. Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as A Defamation B Undercutting An individual has been diagnosed with Alzheimer's disease. B Advertise & solicit business as an insurance counselor or consultant B Nonresident On page 14 of The Call of the Wild, what's meant by the phrase "The _____ is defined as to lose or give up hope that things will 15. Annuities are most commonly used to fund a persons retirement, but they can technically be used to accumulate cash for any reason. C$2,000 Upon receipt of notice of appointment, the commissioner must verify the insurance producer is eligible for appointment within how many days? Within how many days does a licensee have to inform the Commissioner of a change of address? Discriminating between individuals of the same class with equal life expectancies, or by reason of race, nationality, or ethnic group would be considered unfair discrimination. D. Commissioner. A licensee must inform the Commissioner of a change of legal name or address within 30 days of the change. The insurer's surrender the policy at its current cash value. An insurer, agent, solicitor, or other person that violates the Insurance Code section on rebating is guilty of a misdemeanor. D 10 days. Why would removing a trade restriction, such as a tariff, lead to more rapid economic growth? D A license to practice law. An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. a constant a term a variable an expression. Log in for more information. B Coercion A key person insurance policy can pay for what? What type of annuity is it? In this case, what will the policy beneficiary receive? Company Information; FAQ; Stone Materials. What is true regarding taxation of accelerated benefits under life insurance policy? In return, the insurer promised to pay benefits in accordance with the terms of the contract. And insurance producer may not act as an agent for an insurer unless he/she has become which of the following?? A Discrimination. D Felony. Required fields are marked *, Rebating is an unfair trade practice and is regulated by law. All of the following would be considered rebating except. launchpad classlink nmusd; cantonese text to speech; 15 second tv commercial script examples It would be considered unfair discrimination to ask an insurance applicant about which of the following and then use that information as a rating factor to determine insurability? How long must an insurer keep a copy of an authorized form in its records? A Applicant must be 18 years old An insured had a $10,000 term life policy. Which of the following will NOT be considered unfair discrimination by insurers? In Michigan the state's continuing education requirement C Solicit business as an insurance producer An insured pays $1,200 annually for her life insurance premium. C Dividends from a mutual insurer. A. On its advertisement, a company claims that it has funds in its possession that are, in fact, not available for the payment of losses or claims. juan holds ________ power. The least expensive first year premium payment is found in.. What determines the cash value of a variable life policy? A. the spouse or legal representative of a deceased insurance producer Heavy Cream is in Aisle A31 of the Dairy section in Walmart. A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. What would describe a legal document which would dictate who can buy a deceased partner's share of a business and for what amount? Describe the relationship between potential difference and electrical potential energy. All of the following are penalties for submitting fraudulent claims to the insurer EXCEPT
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