A Assigning different risk classifications to applicants based on gender identity launchpad classlink nmusd; cantonese text to speech; 15 second tv commercial script examples Gender The dividend option in which the policyowner used dividends to purchase a term policy for one year is referred to as the An insured purchased a life insurance policy on his life naming his wife as primary beneficiary, and his daughter as contingent beneficiary. Search for an answer or ask Weegy. A license may be denied, suspended, or revoked if the licensee does any of the following EXCEPT In this state, a temporary license may be issued for any of the following reasons EXCEPT. in order to reinstate a life insurance policy the insured must do all of the following except: pay next year's premium in advance. This rider will not cause the death benefit to increase. The balance is paid out directly to the employee in order for her to move the funds to a new account. The insured had his wife named as the beneficiary of his life insurance policy. 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. Rebating is an unfair trade practice and is regulated by law. All of Up to 12 excess credit hours of CE may be carried over to the next review period. In Connecticut, continuing education courses must be approved by the. Juan is the person employees go to when knowledge of a topic was needed. B. Twisting. Search for an answer or ask Weegy. A Misdemeanor An insured has a life insurance policy from a participating company and receives quarterly dividends. C Rebating. Even though my life fits into a backpack, I still find that theres never enough closet space for my clothes. All of the following would be considered rebating except This is a personal use of life insurance known as.. D Controlled business. If a producer discusses policy dividends in a sales presentation, what statement must the producer also make? Old-age and retirement benefits, disability benefits, death benefits. A. Home; About Us. NAIC. Life insurance cost indexes are our only useful when comparing a minimum of how many similar policies? The integer 4 is considered all of the following except a variable. Under which nonforfeiture option does the company pay the surrender value and have no further obligations to the policyowner? 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? B Stock Company Replace the underlined word with the correct form, How do you play Roblox on a Chromebook without downloading it. B Insurer financial requirements. In order to qualify for conversion from a group life policy to an individual policy of the same coverage, a person must have been insured under the group plan for how many years? All riders that will cause the death benefit to increase? How much energy is needed to move one electron through a potential difference of 1.0 102 volts, Includes procedures and techniques that are designed to protect a computer from intentional theft. D The cinema hall is to far from my house.Ans: The cinema hall is too far from my house.(3). A key person insurance policy can pay for what? Time during which accumulated money is converted into an income stream. There are just too many details and specifications which you must be certain of when looking for one. A straight life policy has what type of premium? A salaried full-time employee who furnishes information for group insurance Which nonforfeiture option has the highest amount of insurance protection? D. A salaried employee who advertises and solicits insurance. This practice is considered? = 2 5/20 He died on February 28. Dividends paid to policyholders of a mutual insurer are not considered to be a rebate because the policy specifies that they might be paid. D. Commissioner. Which of the following would be considered an illegal inducement to purchase insurance? C 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? How many credit hours of excess continuing education or producers allowed to carryover to the next renewal cycle? all of the following would be considered rebating except An employee quits her job where she has a balance of $10,000 in her qualified plan. An agent's license may also be suspended or revoked. B Advertise & solicit business as an insurance counselor or consultant Search for an answer or ask Weegy. The agent is guilty of 3. The minimum age at which a person can sign a life insurance application is. Life Insurance Exam Quiz pt. 5 Flashcards - Cram.com An individual had just borrowed $10,000 from his bank on a 5-year installment loan requiring monthly payments. D$5,000. Result of calculation based on the average number of months the insured is projected to live due to medical history and mortality factors? What required provision protects against unintentional lapse of the policy? B There is a limit for a withdrawal and the insurer charges a fee. What option for Universal Life allows the beneficiary to collect both the death benefit and cash value upon the death of the insured? Considered to be the average risk; representative of the majority of people in their age and with similar lifestyles, Insurers (this is so the insurers can compare the info that have collected on the individual). Describe the relationship between potential difference and electrical potential energy. B Legal, provided that the other insurers are paid royalties for the usage of their names C 12 months Which of the following will NOT be considered unfair discrimination by insurers? An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. Chinese Granite; Imported Granite; Chinese Marble; Imported Marble; China Slate & Sandstone; Quartz stone Nonforfeiture values guarantee which policyowner? This is considered to be false, deceptive or misleading advertising. All the following could be considered rebates if offered to an insured in the sale of insurance except? What usually includes information about premium amounts, cash values, surrender values, and death benefits for specific policy years? A Provide opinions concerning benefits, coverage, terms, and advantages and disadvantages of a policy or annuity The advantage of qualified plans to employers is. Telling a client that his first premium will be waived if he purchases the insurance policy today. D Other than the 3 hours of ethics, licensees may take courses in any line. A candidate for life insurance producer's license must complete how many hours of prelicensing education? What is this an example of? The provision which states that both the policy and a copy of the application form the contract between the policyowner and the insurer is called the.. Life income joint and survivor settlement option guarantees. His wife dies 10 years later. Chapter 11 part 2 Flashcards | Quizlet 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. 3. D An insurer publishes intimidating brochures that portray the insurer's competition as financially and professionally unstable. What does this mean to the beneficiaries? What is the minimum civil fine per violation of the Insurance Code of this state? Requirements for life insurance illustrations: If a (consumer) requests additional information concerning an investigative consumer report, how long does the insurer or reporting agency have to comply? D What percentage of a company's employees must take part in a noncontributory group life plan? An out-of-state producer wants to start selling insurance in this state. 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. M, who is not licensed as an insurance agent, works part-time in her father's insurance agency. A C Solicit business as an insurance producer What type of annuity is it? A This is due to what provision? Rating. Will result in having to pay the highest premium due to health, history, habits, etc. The owner, however, does not have to be the one who receives the benefits; it could be the annuitant or the beneficiary. If an insurance company has published a brochure that in accurately portrays the advantages of a particular insurance policy. When is the earliest a policy may go into effect? An insured had a continuous premium whole life policy. 16/9 = Weegy: Whenever an individual stops drinking, the BAL will decrease slowly. If the corporation collects the policy benefit, then. 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. An insurer devises an intimidation strategy in order to corner a large portion of the insurance market. What dividend option could she use? Defamation is making statements that are false as to the financial condition of any insurer and which are calculated to injure any person engaged in the business of insurance. standard form contract facebook; how to treat mange in cats at home twitter; moon drop grapes uk instagram; arrow olivia sewing table youtube; custom teku glassware mail C Defamation. All of the following would be considered rebating except What protects the insured from an unintentional policy lapse due to a nonpayment of premium? C. Address all of the following would be considered rebating except. C Cease and desist order 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 is the other term for the cash payment settlement option? 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. In most states, if death results from suicide within a certain period, the insurer is not obligated to pay the death benefit therefore.. Discrimination. Commissioner. Vscode No server install found in WSL, needs x64. Explaining to client the advantages of permanent insurance over term and suggesting changing policies. In the best interests of the client, rebates are allowed. Part 2 of the application for life insurance provides questions regarding all of the following.. Under the fixed-period option, a specified period of years is selected, and equal installments are paid to the recipient. What brand of castor oil is best for hair? B$1,000 Minimum number of credits required for partially insured status for Social Security disability benefits is. A licensed counselor MAY NOT perform which of the following duties? Licensees who are currently licensed, and have recently become residents of the state of Michigan may not have to complete any prelicensing education. C Misrepresentation Missouri Statutes, Rules, and Regulations common to all lines *revised Which policy component decreases in decreasing term insurance? Because of this, the company charged him a higher rate for his insurance. The least expensive first year premium payment is found in.. What determines the cash value of a variable life policy? An agent selling variable annuities must be registered with.. Universal life option A (Level Death Benefit Option) Policy must maintain a specified "corridor" or gap between the cash value and the death benefit, as require by the IRS. C Twisting. A A producer's license is suspended or revoked by the Department of Insurance. When a company criticizes the financial situation of another company with the intention of injuring that company, it has committed an illegal trade practice called defamation. C Cash surrender, extended term, reduced paid-up. C Expert answered|GaelM|Points 4547| Log in for more information. Michigan's continuing education requirement has each of the following characteristics EXCEPT B$1 must ensure a pair that's benefit claim after receiving the product of death? Which of the following would be required to be licensed as an insurance producer? Two or more variables considered to be related, in a statistical context, if their values change so that as Cellular respiration is a process that all living things use to convert glucose into energy. A Temporary When the policyowner specifies a dollar amount in which installments are to be paid, he/she has chosen which settlement option? B An offer to share in commissions generated by the sale. C Class C violation An investor buys a life insurance policy on an elderly person in order to sell it for a life settlement.. what is this an example of? In order to receive a commission, a person is required to How many accounts must to Tennessee life and health insurance Guaranty association maintain? The insured was severely injured in an auto accident, and after 10 weeks of hospitalization, died from the injuries. For an individual who is not covered by an employer sponsored plan, IRA contributions are What is correct concerning a non contributory group plan: To attain currently insured status under Social Security, a worker must have earned at least how many credits during the last 13 quarters? Children's rider are term insurance covering all of the children in the family, including: What explains the policyowner's right to change beneficiaries, choose options, and receive proceeds of a policy? All of the following statements concerning an employer sponsored non-qualified retirement plan are true as follows: Two attorneys at law and operate their practice as a partnership. What type of policy is this? D Any time in the past. Which of the following is a true statement regarding taxation of the accelerated benefits? Whether an insurable interest exists between the individuals, An underwriter may obtain information on an applicant's hobbies, financial status, and habits by ordering a(n). Log in for more information. A Payment of restitution Which of the following best describes this act? B. B Applies to life, annuity, and accident and health licensees only. What is true about beneficiary designations? 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. If an immediate annuity is purchased with the face amount at death or with the cash value at surrender, this would be considered a? An Insurer wants to begin underwriting procedures for an applicant. Synonym for a substandard risk classification. A. And insured has a modified endowment contract. A Rebating. there is no provision in the insurance code that allows for a temporary licensed to be issued on behalf of a producer. These are all considered to be Unfair Trade Practices, which are major violations that can lead to heavy penalties. A 60 days All of the following concerning a non-contributory group plan is true: What is an IRS qualified retirement program for the self-employed? 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 type of policy is this? What is true regarding a non-qualified retirement plan? 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. d) Rebates are allowed if it's in the best interest of the client. Autotrophs (like plants) produce glucose during photosynthesis. An insured committed suicide 6 months after his life insurance policy was issued. A In decreasing policies, while the face amount decreases, the premium remains constant throughout the life of the contracts. 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} What employee insured under a group life plan would be allowed to convert to individual insurance of the same coverage once the plan is terminated? 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.. C$100 The annuity income payments are scheduled to begin after 1 year since the annuity was purchased. ________________ are owned and controlled by their policyholders. Rules of replacement apply to all of the following: An insurer must present a buyers guide and policy summary prior to accepting the applicant's initial premium, unless the policy contains an unconditional refund provision lasting at least how many days? The agent is guilty of? Which of the following is an example of a producer being involved in an unfair trade practices of rebating? As the local coffee shop is just initiating the segmentation and targeting process, what has . What policy component contains the company's promise to pay? The separate account under many annuities provides the annuitant with a dozen or more investment options ranging from "money market funds" to "growth stock funds" to "precious metal funds". A cease and desist order requires an individual to stop doing a specific activity that the Commissioner believes to be violating the Insurance Code. What type of insurance policy may be used to fund this agreement? D False advertising.

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