A Discrimination. What is the purpose of a free-look period in insurance policies? A. What is the minimum required age for an insurance producer in this state? If an insured receives accelerated death benefits, what is the least amount of the original death benefit that the beneficiary would receive after the insured's death? The 3 risk classifications used by underwriters for life insurance, Selection, classification, and rating of risks, To allow the consume to compare the costs of different policies. C 30 days Correct Answer: A. Question. If a life insurance policy develops cash no you faster than a seven-pay whole life contract, it is? Playing your favorite game, Roblox, on Chromebook is quite achievable, but many users are only familiar with the Play Store method. (Example) your client wants both protection and savings from the insurance, and is willing to pay premiums until retirement at age 65. An insurer devises an intimidation strategy in order to corner a large portion of the insurance market. What type of annuity is it? The president of a company is starting an annuity and decides that his corporation will be the annuitant. D Business Entity. C Class C violation An applicant for a counselor's license must possess a reasonable understanding of the provisions, terms, and conditions of the type of insurance he/she wishes to counsel, as well as a reasonable understanding of the Michigan insurance code and possess a good business reputation and good moral character. C Misrepresentation If an individual licensee's violation of the entrance code was known or should have been down by one or more of the partners, officers, or managers of the agency, what could happen to agency? D The insurer has 15 days to file a notice of producer appointment. An insured committed suicide 6 months after his life insurance policy was issued. The designee of a producer that is called to active service with the Navy. C A legal advertising strategy A policyowner who is also yeh insured wants to name her husband as the beneficiary of her life policy. Regarding the free-look provision, the insurance company.. What happens when a children's rider is added to an insured's permanent life insurance policy? D A license to practice law. The requirement that an agent not co-mingle insurance monies with their own fund is known as? A Assigning different risk classifications to applicants based on gender identity In this situation, a licensee would have to apply for a resident's license within 90 days. It would be considered unfair discrimination to ask an applicant for their sexual orientation, as well as using sexual orientation as a rating factor to determine insurability. Which of the following documents must be provided to the policyowner or applicant during policy replacement? What happens to the premium on the children's rider in a life insurance policy? The cinema hall is to far from my house.Ans: The cinema hall is too far from my house.(3). C Two letters of recommendation attesting to trustworthiness, reliability, and good reputation In life insurance policies, cash value increases. C A reasonable understanding of the provisions, terms, and conditions of the type of insurance he/she wishes to counsel. Which of the following may obtain a producer's license, but may not sell, solicit, or negotiate a contract of insurance in Tennessee? Which of the following allows different operating systems to coexist on the same physical computer? Follow the following are true of the federal tax advantages of a qualified plan.
The integer 4 is considered all of the following except _____. a Earnings grow tax-deferred, contributions are not currently taxable, it can discriminate in benefits and selecting participants, For a retirement plan to be qualified, it must be designed for the benefit of. In Michigan the state's continuing education requirement baja fresh queso recipe; Tags . Texas All Lines Adjuster Test - Questions And Answers-Accumulated Depreciation - The total decrease in an item's value over a period of time. A person whose activities are limited to producing insurance advertisements
Rebating is an unfair trade practice and is regulated by law. All of B Legal, provided that the other insurers are paid royalties for the usage of their names 90 days. What term best describes this arrangement? I love when a hack helps me to recycle, and makes my life easier. A father owns a life insurance policy on his 15-year-old daughter. Upon policy reinstatement to pay all overdue premiums with interest before the policy is reinstated, The policyowner may assign a part of the policy (collateral assignment) or the entire policy (absolute assignment), Regarding the free-look provision, the insurance company. What happens when a policy is surrendered for its cash value? This nonforfeiture option provides coverage for the longest period of time: The policyowner wants to make sure that upon his death, the life policy will pay a portion of the proceeds annually to his spouse, but that the principal will be paid to their children when they reach a certain age. A Illegal until endorsed by the Guaranty Association Group life insurance is a single policy written to provide coverage to members of a group. What is the required percentage of participants in a contributory group plan? D 30 days. A key person insurance policy can pay for which of the following? During the underwriting process, the insurance company found no reason to reject the risk or classify it other than as standard. His wife dies 10 years later. What is this an example of? He died on February 28. Which of the following is not a standard mounting dimension for an electric motor? D Felony. What characteristic makes whole life permanent protection? B An offer to share in commissions generated by the sale. the spouse of a retiring insurance producer Which of the following best describes the act? Asked 10/30/2021 2:23:39 PM. What best describes this practice? B Which statement best defines an insurance producer? What option could the insured utilize? B Twisting User: She worked really hard on the project. There are just too many details and specifications which you must be certain of when looking for one. Which of the following has not been taken to court for further interpretation? The owner, however, does not have to be the one who receives the benefits; it could be the annuitant or the beneficiary. all of the following would be considered rebating except. A Giving an applicant a $5 pen with the insurer's logo during the insurance application process The following are nine technical accounting terms introduced or emphasized in this chapter: ResponsibilitymarginTransferpriceCommonfixedcostsContributionmarginCost-plustransferpriceTraceablefixedcostsPerformancemarginProductcostsCommittedfixedcosts\begin{array}{lll}\text { Responsibility margin } & \text { Transfer price } & \text { Common fixed costs } \\ \text { Contribution margin } & \text { Cost-plus transfer price } & \text { Traceable fixed costs } \\ \text { Performance margin } & \text { Product costs } & \text { Committed fixed costs }\end{array} All of the following actions are considered rebating EXCEPT sharing commissions with other licensed and appointed agents refunding part of the premium as an inducement for purchase offering special dividends offering anything of value not specified in the policy A sharing commissions with other licensed and appointed agents 18 Q Age All riders that will cause the death benefit to increase? 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? D
all of the following would be considered rebating except What best describes what will happen? Within what time period after completing prelicensing education must an applicant file a certificate of education completion with the Commissioner? Under what circumstances could the daughter collect the death benefit? Which of the following terms best describes the advertisement? If a licensee does not earn 24 hours of Continuing Education by the license review date, the license will be suspended for up to how many days? D Must be completed by all licensed resident and nonresident producers. What dividend option could she use? Which of the following is possible? From what type of insurer did the insured purchase the policy? All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents. It is illegal to participate in any boycott, coercion, or intimidation that is intended to restrict fair trade or create a monopoly. Only any excess of value is taxable as income. The person or interest to whom the policy proceeds will be paid upon the death of the insured. b) Rebating can be anything of economic value, given as an inducement to buy. B Assuming that a policy does not contain an unconditional refund provision of at least 10 days, when must a Buyer's Guide and policy summary be provided? Figure out how many vegetables to plantEver wonder how many vegetable plants to buy when youre planning your garden? What option would allow her to do this? Under a variable annuity, the issuing insurance company does not guarantee a minimum interest rate or the benefit payment amounts. If you insurance company makes a statement that it's policies are guaranteed by the existence of the Insurance Guaranty Association, that would be considered? There are several types of whole life polices. The advantage of qualified plans to employers is. Identify the types of assets assigned to each classification. What is the result of this? 20/3 This is due to what provision? D 2 years. In this situation, the Commissioner must be notified within 30 days. B 7 days If $100,000 of life insurance proceeds were used in a settlement option, which paid $13,000 per year for ten years, which of the following would be taxable annually? In decreasing policies, while the face amount decreases, the premium remains constant throughout the life of the contracts. The applicant must file a certificate of completion of the prelicensing courses taken to prove that the courses were not taken more than 12 months before the Commissioner received the application. The policyowner may assign a part of the policy or the entire policy. Up to 12 excess credit hours of CE may be carried over to the next review period. Which of the following acts would not get an insurance producer terminated "for cause"? all of the following would be considered rebating except. D What type of insurance policy would perform the function of cash accumulation? B 90 days B Discrimination A Restriction of authority Unless revoked or suspended how long does a producers license remain in effect in Tennessee? A$500 Which of the following would be considered false advertising? B Discriminating in benefits and coverages based on the insured's habits and lifestyle Which of the following provisions would NOT be found in Term Life Insurance? What is this called? C Dividends from a mutual insurer. Upon receipt of notice of appointment, the commissioner must verify the insurance producer is eligible for appointment within how many days? C Rebating. B. B Undercutting If an insurance company has published a brochure that in accurately portrays the advantages of a particular insurance policy. B$1,000 This rider usually expires at the insured's age of 40. C. Rebating. In level term and increasing term policies, the premium also remains level for the term of the policy. She would likely purchase a(n)? If a producer discusses policy dividends in a sales presentation, what statement must the producer also make? It was determined that the accident was his fault. If the producer continues to violate the entrance code, I knew so penalty will be assessed every? D Slandering. If an insured withdraws a portion of the death benefit by the use of this rider, the benefit payable at death will be reduced by that amount plus.. Search for an answer or ask Weegy. If she decides to roll over her plan to a traditional IRA, how much will she receive from the plan administrator and how long does she have to complete the tax free-roll over? An individual had just borrowed $10,000 from his bank on a 5-year installment loan requiring monthly payments. 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. When does the policy coverage become effective? Number of credits required for fully insured status for Social Security disability benefits? In which of the following situations is it legal to limit coverage based on marital status? = 2 1/4. If an insured surrenders his life insurance policy, what is true regarding the cash value of the policy? The insured was severely injured in an auto accident, and after 10 weeks of hospitalization, died from the injuries. New answers. All of the following actions can be described as twisting EXCEPT. C Dividends from a mutual insurer. C Dividends from a mutual insurer. Heterotrophs (like humans) ingest 19) Juan is the person employees go to when knowledge of a topic was needed.Juanholds ________ power.A) legitimateB) rewardC) referentD) expert. What type of life insurance policy would be best suited to this situation? As the local coffee shop is just initiating the segmentation and targeting process, what has . An insured purchases a policy in 2008 and died in 2013. Before the Director will issue a license, a person must meet all of the following qualifications EXCEPT a. All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT A Stocks, securities, or bonds. Candidates for either a property license or a casualty license must complete how many hours of pre-licensing education? When twin brothers applied for life insurance from Company A, the company found that while neither of them smoked and both had a very similar lifestyle, one of the twins was in a much stronger financial position than the other. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. To appoint a producer as it's agent, the appointing insurer must file a notice of appointment with the commissioner within how many days from the date the agency contract is executed? It is intended to provide coverage on a date earlier than the age of the issuance of the policy, Pay the policy proceeds only if it would have issued the policy. When a beneficiary receives payments consisting of both principal and interest portions, which part are taxable as income? B False advertising. If the father becomes disabled, what will happen to the life insurance premiums? An insured pays an annual premium to his insurer. The ownership provision entitles the policyowner to do what? An employer has sponsored a qualified retirement plan for its employees where the employees where the employer will contribute money wherever a profit is realized. An applicant for a Counselor's license in Michigan must possess all of the following EXCEPT This plan would be funded with before-tax corporate dollars, and it does not meet government approval standards. Within how many days does a licensee have to inform the Commissioner of a change of address? Whole life policies offer level premium based on the issue age, guaranteed, level death benefit, cash value that is scheduled to equal the face amount at the insured's age 100, and living benefits, which include policy loans. An agent who offers a cash reward to a prospect for buying a policy is guilty of. M, who is not licensed as an insurance agent, works part-time in her father's insurance agency. C Twisting. D Misrepresentation, How much is an agent's appointment fee? C$2,000 D 10 days.
Answer-All of the following are considered key logistic functions in If an injured worker has earned 40 quarters of coverage, the worker's status under Social Security disability is? Result of calculation based on the average number of months the insured is projected to live due to medical history and mortality factors? What type of annuity is it? Rebates are allowed if it's in the best interest of the client. When a life insurance policy is cancelled and the insured has selected the extended term nonforfeiture option, the cash value will be used to purchase term insurance that has a face amount. Commissioner. The policyowner should have her husband named as the.. A couple owns a life insurance policy with a Children's Term rider. C If convicted for a false claim, an insured, agent, collector, physician or any other person could be fined up to $1,000. When the agent delivers the policy, collects the initial premium, and the applicant completes an acceptable statement of Good Health, A presentation of non-guaranteed elements of a policy, One-sided: only one party makes an enforceable promise. Log in for more information. If an insured continually uses the automatic premium loan option to pay the policy premium. Circulating deceptive sales material to the public is what type of Unfair Trade Practice? 10 czerwca 2022 . A person required to be licensed under the laws of the state to sell, solicit, or negotiate insurance is known as. The automatic premium loan provision is activated at the end of the What premium payment mode will incur the lowest overall payment? C Defamation. Question is All of the following species are considered coliforms except, Options are (A) Enterobacter aerogenes , (B) Klebsiella pneumoniae , (C) Salmonella typhi , (D) Escherichia coli , (E) , Leave your comments or Download question paper. Which of the following is an example of a producer being involved in an unfair trade practices of rebating? Commissions are set by a schedule or negotiation between the producer and the insurance company. B An agent's license may also be suspended or revoked. Whenever an individual stops drinking, the BAL will ________________. Permitting individuals of the same class to be charged a different rate for the same insurance is the unfair trade practice of discrimination. Annuities are characterized by how they can be paid for which is: While equity indexed annuities earn higher interest rates than fixed annuities, both types of annuities guarantee a specific minimum interest rate. The president of a manufacturing company has offered one of the company's officers a special individual annuity plan that is unavailable to lower-echelon employees. A Stocks, securities, or bonds. Th rider in a whole life policy that allows the company to forgo collecting the premium if the insured is disabled is called? D Legal, provided that the information can be verified. all of the following would be considered rebating except.