If she terminates her group coverage, what is true?
All of the following acts are considered unfair trade - Course Hero B Stock Company In order to receive a commission, a person is required to How many accounts must to Tennessee life and health insurance Guaranty association maintain? What happens to the premium on the children's rider in a life insurance policy? All of the following concerning a non-contributory group plan is true: What is an IRS qualified retirement program for the self-employed? B An offer to share in commissions generated by the sale. What is true regarding taxation of accelerated benefits under life insurance policy? D$5. B Sending a $20 gift certificate to the insured's employee after the insurance has been effected as a thank you for the referral In which of the following situations is it legal to limit coverage based on marital status? The policy endows when the insured turns 100. A key person insurance policy can pay for which of the following? There is a limit for a withdrawal and the insurer charges a fee. Cradle. An insured misstates her age at the time the life insurance application is taken. A corporation is the owner and beneficiary of the key person life policy. = 2 1/4. In order for an insurer to legally transact insurance, it must obtain what? 10 czerwca 2022 . Which of the following is possible? C 12 months Ultimately, the commissioner determined that there were a total of 25 separate violations. In most states, if death results from suicide within a certain period, the insurer is not obligated to pay the death benefit therefore.. A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. Permitting individuals of the same class to be charged a different rate for the same insurance is the unfair trade practice of discrimination. The agent is guilty of 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 to be rebating EXCEPT, which was part of Insurance MCQs & Answers. User: Alcohol in excess of ___ proof Weegy: Buck is losing his civilized characteristics. Which of the following best describes the unfair trade practices of defamation?
all of the following would be considered rebating except Licensed in the state where the individual resides. This is due to what provision? Company Information; FAQ; Stone Materials. The death protection component of Universal Life Insurance is always.. A return of Premium term life policy is written as what type of term coverage? select one: Which set of characteristics will produce the smallest value for the estimated standard error? All the following are business uses of life insurance: If I retirement plan or annuity is "qualified," this means Who is the owner and who is the beneficiary on a key person life insurance policy? Under the fixed-period option, a specified period of years is selected, and equal installments are paid to the recipient. C 30 days An appointment by an insurer is based upon the person maintaining a valid insurance license. Search for an answer or ask Weegy. New answers. If she decides to do a direct transfer from her plan to a traditional IRA, how much will be transferred from one plan administrator to another and what is the tax consequence of a direct transfer? Variable life insurance is regulated by..: Equity Indexed Annuities invest on an aggressive basis in order to yield higher returns. An agent offers to share his commission with a policyholder. Coercion, for example, is when the bank won't give you an auto loan unless you agree to buy auto insurance from them. If an agent fails to obtain an applicant's signature on the application, the agent must An insurance contract that requires both the insured and the insurer meet certain conditions in order for the contract to be enforceable is (Example) When Y applied for insurance and paid the initial premium on August 14, he was issued a conditional receipt. An agent's license may also be suspended or revoked. A salaried full-time employee who furnishes information for group insurance What is not an example of a business use of life insurance? A Misdemeanor A. Misrepresentation. D Misrepresentation. How could she obtain an individual policy? He wants to withdraw some money in order to pay medical bills. During replacement of life insurance, or replacing ensure musky which of the following? B 7 days
all of the following would be considered rebating except When the policyowner specifies a dollar amount in which installments are to be paid, he/she has chosen which settlement option? D A license to practice law. Annuities are most commonly used to fund a persons retirement, but they can technically be used to accumulate cash for any reason. C Listing the insurance companies the agency represents in a letter
Flashcards - WA Common Law Practice Exam - FreezingBlue Term used to name the no taxes return of unused premiums? D Misrepresentation, How much is an agent's appointment fee? An insurer publishes intimidating brochures that portray the insurer's competition as financially and professionally unstable. In order to to do that, what may happen? Which of the following is a true statement regarding taxation of the accelerated benefits? B. Defamation. The policyowner of an adjustable life policy wants to increase the death benefit. B 3 days Will result in having to pay the highest premium due to health, history, habits, etc.
All of the following are true regarding rebates - Course Hero B Mailing an agency brochure to a prospective client (Example) A man purchased a $90,000 annuity with a single premium, and began receiving payments 2 months after that. He's insured under a life insurance policy with the accelerated benefits rider. The Commissioner may waive prelicensing requirements or examinations for someone who has been a licensed insurance producer How can she obtain an individual policy? B Nothing, unless the remarks were in writing Search for an answer or ask Weegy. 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? 6 2/3 Explaining to client the advantages of permanent insurance over term and suggesting changing policies. An annuity owner is funding an annuity that will supplement her retirement. Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. As the local coffee shop is just initiating the segmentation and targeting process, what has .
all of the following would be considered rebating except And any controversy between the insured or the insured's beneficiary and the insured that arises from the application for insurance of any policy issued a connection with the application, the producer is considered to be the agent and which of the following? Formula: (Ann . B Coercion Thanks for choosing us. Texas All Lines Adjuster Test - Questions And Answers-Accumulated Depreciation - The total decrease in an item's value over a period of time. 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. B Twisting Home; About Us. Concerning the taxation of premiums in a key- person life insurance policy is: Internal revenue code provision that specifically provides for an individual retirement plan for public school teachers is a(n), Example of liquidity in a life insurance contract. In an annuity, the accumulated money is converted into a stream of income during what time period? Department of Education. And employee quits her job where she has a balance of $10,000 in her qualified plan. A father owns a life insurance policy on his 15-year-old daughter. A 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? This is a personal use of life insurance known as. What type of insurance policy may be used to fund this agreement? A policy will pay the death benefit if the insured dies during the 30-year premium-paying period, and nothing if death occurs after the 20-year period. Which of the following is an example of a producer being involved in an unfair trade practice of rebating? 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} The policyowner is entitled to policy loans. What option could the insured utilize? When the application is signed and a check is given to the agent, The insurer's domicile of location of incorporation will determine whether a company is domestic, foreign, or alien. all of the following would be considered rebating except. Any person found guilty of a violation of the Insurance Code of this state may be subject to a civil fine of up to $1,000 for each violation, or up to $5,000 for willful violations (not to exceed $50,000). An insurer devises an intimidation strategy in order to corner a large portion of the insurance market. B Unfair claim practice. Which two terms are associated directly with the premium? This misstatement may result in? Categories . 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". C Dividends from a mutual insurer. Why would removing a trade restriction, such as a tariff, lead to more rapid economic growth? When would a misrepresentation on the insurance application be considered fraud? A temporary insurance license maybe issued without examination and all of the following: A candidate for an accident and health producer's license must complete how many hours of prelicensing education? An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. The bank is prepared to offer the loan but only if the customer purchases a life insurance policy from the bank in the amount of the loan. All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents. The amount of payments will be determined by taking into account all of the following: 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.. An insured owns a $50,000 whole life policy. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. A 60 days = 45/20 B 30 When an employee terminates coverage under group insurance policy, coverage continues in force for how long? 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. D Collecting a lower premium than what's specified in a policy as a token of client appreciation. What type of life insurance policy would be best suited to this situation? A Provide opinions concerning benefits, coverage, terms, and advantages and disadvantages of a policy or annuity A$500 A copy of the notice to the Commissioner must be sent to the producer in question within 15 days. B In the preceding 2 years. A Twisting. Attorney General. Heavy Cream is in Aisle A31 of the Dairy section in Walmart. 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.. D Any time in the past. A. And insurance producer license may be renewed at the producer has paid the applicable fees, submitted the renewal form to the commissioner, and.. Having a client in inducement to a sale not stated in the policy is an unlawful practice known as? The policy contained an accidental death rider, offering a double indemnity benefit. C 90 days The company is guilty of As a condition for renewal of their licenses, how many hours of continuing education required for all resident and nonresident insurance producers?
Rebating is an unfair trade practice and is regulated by law. All of When twin brothers applied for life insurance from company a, the company found that while neither of them smoke and both had a very similar lifestyle, one of the twins was in a much stronger financial position than the other. He never remarried and dies at age 61, leaving 2 grown-up children. What percentage of a company's employees must take part in a noncontributory group life plan? Which of the following is an eligibility requirement for all Social Security disability income benefits? Age 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? A Deals with insurance outside the scope of the license. A participating insurance policy will pay _________ to the owner based upon actual mortality cost, interest earned and costs. An insured had a continuous premium whole life policy.
All of the following actions are considered rebating except Published by at June 10, 2022.
All Of The Following Are True Regarding Rebates Except Cradle. All of the following events will terminate a producer's certificate of appointment EXCEPT When a whole life policy lapses or is surrendered prior to maturity, the cash value can be use to.. In decreasing policies, while the face amount decreases, the premium remains constant throughout the life of the contracts. However, once there is solicitation, a license is required. C Charging applicants with similar health histories different premiums based on their ethnicity Synonym for a substandard risk classification. A 7 days All of the following would be considered rebating except. Beneficiaries do not have to have an insurable interest in the policyholder. What type of policy is this? Within how many days of requesting an investigative consumer report must an insurer notify the consumer in writing that the report will be obtained? 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. This is called.. How many days does the insurer have to deliver this notice? 1.Reasonable expectations 2.Subrogation 3.Ambiguities in a contract of adhesion 4.Utmost good faith - answerSubrogation There are various optional provision for health policies. 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 policyowner who is also yeh insured wants to name her husband as the beneficiary of her life policy. Confirming future dividends in a life insurance proposal C Illegal under any circumstances Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as Death benefits payable to a beneficiary under a life insurance policy are generally. An agent who offers a cash reward to a prospect for buying a policy is guilty of. What is the required percentage of participants in a contributory group plan? 1 to 75. What happens when a policy is surrendered for its cash value? The "accumulation period" is the period of time over which the annuitant makes payments (premiums) into an annuity. D. Commissioner. The least expensive first year premium payment is found in.. What determines the cash value of a variable life policy? After 5 years, she decides to leave the company and work independently. D Unfair Discrimination. This annuity plan is What is true regarding taxation of accelerated benefits under a life insurance policy? What can they do? 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. 90 days. The policyowner pays for her life insurance annually. A. MI Life Insurance Policy Provisions, Options, Federal Tax Considerations for Health Insuran, Qualified Plans, and Federal Tax Consideratio, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Fundamentals of Financial Management, Concise Edition. She would like to use the policy dividends to pay off her policy sooner than would have been possible otherwise. D Controlled business. And employee is insured under her employers group life plan. Michigan's continuing education requirement has each of the following characteristics EXCEPT If the policyowner, the insured, and the beneficiary under a life insurance policy are three different people, who had the ownership rights? In this case, what will the policy beneficiary receive? An insured purchased an insurance policy 5 years ago. D The passing of a written examination. D Adverse selection. What required provision protects against unintentional lapse of the policy? A rebate is a type of purchasing discount that is paid as a reduction. Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as. If the corporation collects the policy benefit, then What is the best reason to purchase life insurance rather than annuities? An individual had just borrowed $10,000 from his bank on a 5-year installment loan requiring monthly payments. C. Address The producer could be found guilty of B A new Commissioner or Director is put into office. What would describe a legal document which would dictate who can buy a deceased partner's share of a business and for what amount? The main difference between immediate and deferred annuities is What does "level" refer to in level term insurance? What is this an example of? It is illegal to participate in any boycott, coercion, or intimidation that is intended to restrict fair trade or create a monopoly. 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. baja fresh queso recipe; Tags . Which of the following would NOT be considered rebating? 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. 3. A temporary license in this state is valid for a maximum of A 15 A Defamation He died on February 28. A Defamation B Twisting When is the earliest a policy may go into effect? SUGGESTIONS FOR PREPARING SPEAKING NOTES While several of these reminders might strike you as obvious, speakers often ignore them when preparing to speak. Minimum number of credits required for partially insured status for Social Security disability benefits is. In this case, the insurance company will Must be delivered along with the policy and will provide the producer's name & address, the insurance company's home office address, the generic name of the policy issued, and premium, cash value, surrender value & death benefit figures for specific policy years. All of the following would be considered rebating EXCEPT. Example: the insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. A 40 year old man buys a whole life policy and names his wife as his only beneficiary. Rebating is an unfair trade practices and is regulated by law all of the following would be considered to be rebating except When twin brothers applied for life insurance from company a, the company found that while neither of them smoke and both had a very similar lifestyle, one of the twins was in a much stronger financial position than the . All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT A Stocks, securities, or bonds. Who is the main purpose of the seven-pay test? 30 M may perform all of the following duties EXCEPT. The Insurance Department regulations are to protect the insurance-buying public. The Weegy: A modal verb (also modal, modal auxiliary verb, modal auxiliary) is a type of auxiliary verb that is used to All of the following would be considered rebating except, Which of the following types of insurance policies is most commonly used in credit life insurance, In order to reinstate a life insurance policy the insured must do all of the following except. What is the minimum required age for an insurance producer in this state? File an application with the Director b. D Producer commission schedules. B$1 Which life insurance settlement option guarantees payments for the lifetime of the recipient, but also specifies a guaranteed period, during which, if the original dies, the payments will continue to a designated beneficiary? All of the following would be considered to be rebating EXCEPT? The validity of coverage under a life insurance policy may not be contested, except for nonpayment of premium, after the policy has been in force for at least how many years? 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? Which of the following provisions would NOT be found in Term Life Insurance? C. An insurance company director who performs executive, administrative and managerial duties Unintentional misspellings are not a misrepresentation. In classifying a risk, the Home Office underwriting department will look at all of the following.. A generic consumer publication that explains life insurance in general terms in order to assist the applicant in the decision-making process. Group life insurance is a single policy written to provide coverage to members of a group. 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? Pass an examination for each lie for which a license is sought c. Be appointed to represent at least one authorized insurance company d. Be at least 18 years old