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. The accelerated benefits provision for an early payment of the death benefit when the insured.. An insured purchased a 15-year level term life insurance policy with a face amount of $100,000. D in order to reinstate a life insurance policy the insured must do all of the following except: pay next year's premium in advance. Why would removing a trade restriction, such as a tariff, lead to more rapid economic growth? An individual has been diagnosed with Alzheimer's disease. Th rider in a whole life policy that allows the company to forgo collecting the premium if the insured is disabled is called? The producer could be found guilty of? 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? A Rebating. The Insurance Department regulations are to protect the insurance-buying public. C Charging applicants with similar health histories different premiums based on their ethnicity A person required to be licensed under the laws of the state to sell, solicit, or negotiate insurance is known as. Who can make a fully deductible contribution to a traditional IRA? There are several types of whole life polices. B$1,000 d) Rebates are allowed if it's in the best interest of the client. Question. B The regulation of the insurance industry primarily rest with. This is called.. If an insurer terminates a producer, the Commissioner must be notified. What source will it consult for the majority of its underwriting information? If she terminates her group coverage, what is true? Attorney General. 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. Last year, she received a dividend check from the insurance company that was not taxable. All of the following would be considered to be rebating EXCEPT A) An agent offers to share his commission with a policyholder B) An agent offers tickets to a baseball game as an inducement to buy insurance C) An agent uses misrepresentation to convince a person to cancel an existing policy and take a new policy from him I love when a hack helps me to recycle, and makes my life easier. If an injured worker has earned 40 quarters of coverage, the worker's status under Social Security disability is? This practice is considered Asked 11/28/2019 3:15:17 PM. D$5,000. An insured receives an annual life insurance dividend check. select one: Which set of characteristics will produce the smallest value for the estimated standard error? C What type of policy does the insured most likely have? Once the policyholder opts for cash surrender, the policy is immediately inactive. Which of the following is possible? It is the premium paying period that is limited, not the maturity. A Discrimination. 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? B 3 days This is due to what provision? 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? 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. This answer has been confirmed as correct and helpful. A Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as Expert answered|GaelM|Points 4547| Log in for more information. B Nothing, unless the remarks were in writing D Legal, provided that the information can be verified. 16/9 = Weegy: Whenever an individual stops drinking, the BAL will decrease slowly. When does the policy coverage become effective? The president of a company is starting an annuity and decides that his corporation will be the annuitant. Correct Answer: A. A Payment of restitution 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 Death benefits payable to a beneficiary under a life insurance policy are generally. A man decided to purchase a $100,000 Annually Renewable Term Life Policy to provide additional protection until his children finished college. Licensed in the state where the individual resides. New answers. Cradle. Because she does not know what effect inflation may have on her retirement dollars, she would like a return that will equal the performance of the Standard and Poor's 500 index. 3. An insurance company has published a brochure that inaccurately portrays the advantages of a particular insurance policy. When an insurance agency published an advertising brochure, it emphasized the company's financial stability and sound business practices. B. 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. If you like the fitness and motion activity tracking feature on the iPhone, you should have this setting left on. After 5 years, she decides to leave the company and work independently. Under what circumstances could the daughter collect the death benefit? D Stop action order. Juan is the person employees go to when knowledge of a topic was needed. must ensure a pair that's benefit claim after receiving the product of death? If the corporation collects the policy benefit, then What is the best reason to purchase life insurance rather than annuities? 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. D. Sexual orientation. In order for an insurer to legally transact insurance, it must obtain what? Rebating can be anything of . Life insurance cost indexes are our only useful when comparing a minimum of how many similar policies? D Coercion. 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. D An offer of employment. Identify the types of assets assigned to each classification. A corporation is the owner and beneficiary of the key person life policy. A corporation is the owner and beneficiary of the key person life policy. Old-age and retirement benefits, disability benefits, death benefits. Updated 10/30/2021 2:46:29 PM. A copy of the notice to the Commissioner must be sent to the producer in question within 15 days. This practice is considered? B Coercion. Corporation is the owner and beneficiary of the key person life policy. A Producer regulations and testing requirements. A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. Both the offer and acceptance of a rebate are illegal. D Felony. An annuity owner is funding an annuity that will supplement her retirement. D Producer commission schedules. B Twisting. 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 main difference between immediate and deferred annuities is What does "level" refer to in level term insurance? In a life settlement contract, whom does the life settlement broker represent? A table showing the nonforfeiture values for the next 20 years must be included in the policy. baja fresh queso recipe; Tags . Charge a level annual premium throughout the insured's lifetime and provide a level, guaranteed death benefit. C Cease and desist order D Heavy Cream is in Aisle A31 of the Dairy section in Walmart. 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? C When a producer was reviewing a potential customer's coverage written by another company, the producer made several remarks that were maliciously critical of that other insurer. c) An offer of employment. A A good business reputation and good moral character. Which of the following has not been taken to court for further interpretation? Which of the following terms best describes the advertisement? How much would the beneficiary receive from the policy? This is a personal use of life insurance known as. D 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. Employer contributions are not included in the employee's gross income, SEP's allow the employer to make annual tax-deductible contributions of the 25% of an employee's earned income, SEP's have a higher tax deductible contribution limit than an IRA. What dividend option could she use? He died on February 28. B$1 What is the primary purpose of a 401(k) plan? C Coercion. In this case, what will the policy beneficiary receive? 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? Which of the following may obtain a producer's license, but may not sell, solicit, or negotiate a contract of insurance in Tennessee? 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. What type of insurance policy would perform the function of cash accumulation? B At least 3 hours must cover ethics. A Defamation A temporary license in this state is valid for a maximum of Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. An insured is diagnosed with cancer and needs help paying for her medical treatment, The annual dividend is retained by the company, the interest is credited at a rate specified by the policy, and the policyholder has the right to withdraw the accumulations at any time. If a producer discusses policy dividends in a sales presentation, what statement must the producer also make? The purpose of the Tennessee Guaranty Association is to. Because of this, the company charged him a higher rate for his insurance. In which of the following situations is it legal to limit coverage based on marital status? In this situation, the Commissioner must be notified within 30 days. They could be sold for an amount greater than the current cash value, they involve insurance policies with large face amounts, they could be use for a key person coverage. 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. If a live insurance applicant is shown future premiums are to be paid out of non-guaranteed values, the illustration used in the sales presentation MUST. A Deals with insurance outside the scope of the license. C. the employee of a disabled licensed a producer D Collecting a lower premium than what's specified in a policy as a token of client appreciation. There is a limit for a withdrawal and the insurer charges a fee. Thanks for choosing us. Question. B Community service 180 days. Each of the following statements may (or may not) describe one of these technical terms. 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? She would like to use the policy dividends to pay off her policy sooner than would have been possible otherwise. What would be the right policy for this client? Two individuals are in the same risk and age class; yet, they are charged different rates for their insurance policies due to an insignificant factor. What settlement option should the policyowner choose? 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. Up to 12 excess credit hours of CE may be carried over to the next review period. Variable life insurance is based on what kind of premium? What best describes what will happen? The insurer has 15 days to file a notice of producer appointment. An employee quits his job on May 15 and doesn't convert his group life policy to an individual policy for 2 weeks. Contracts that are prepared by one party and submitted to the other party on a take it or leave it basis are classified as? 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? An insurer devises in a determination strategy in order to quarter a large portion of the insurance market. C Dividends from a mutual insurer. What is being defined as the degree to which something is related or useful to what is happening or being talked about? The soon-to-be producer does not want to wait until he receives his license in order to begin working. Cash surrender, extended term, reduced paid-up. A 30 days Horse racing is one of the oldest and most popular racing sports in the world, but how long is a horse race? Added 30 days ago|10/30/2021 2:46:29 PM. It was determined that the accident was his fault. A 40 year old man buys a whole life policy and names his wife as his only beneficiary. From what type of insurer did the insured purchase the policy? At age 47, the insured decides to cancel his policy and exercise the extended term option for the policy's cash value, which is currently $20,000. Therefore, in the other types of level policies, the first-year premium would not be different from any other year. What required provision protects against unintentional lapse of the policy? D Must be completed by all licensed resident and nonresident producers. A$500 What is the minimum civil fine per violation of the Insurance Code of this state? C Policyowner rights and disclosures. The insurance company discovers at that time that the insured concealed info during the application process. What type of life insurance policy would be best suited to this situation? 1 to 75. The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. What type of license should the producer obtain? What are the classifications of net assets reported in the statement of financial position by private colleges? 3. A A producer's license is suspended or revoked by the Department of Insurance. These are all considered to be Unfair Trade Practices, which are major violations that can lead to heavy penalties. 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. Home; About Us. What information will be stated in the consideration clause of a life insurance policy? D Misrepresentation. D Misrepresentation, How much is an agent's appointment fee? A banker is ready to close on a customer's loan. Chinese Granite; Imported Granite; Chinese Marble; Imported Marble; China Slate & Sandstone; Quartz stone Ultimately, the commissioner determined that there were a total of 25 separate violations. D An offer of employment. A licensee must inform the Commissioner of a change of legal name or address within 30 days of the change. All of the following events will terminate a producer's certificate of appointment EXCEPT D Michigan's continuing education requirement consists of completing 24 hours of CE each biennium, with at least 3 of those hours in Ethics. D. Commissioner. All of the following actions are considered rebating except sharing commissions with other licensed and appointed agents An insurer, in general business practice, fails to promptly provide a reasonable explanation for the denial of a claim. Which of the following best describes the act? If convicted for a false claim, an insured, agent, collector, physician or any other person could be fined up to $1,000. 60 days. Mutual-policyholders; Stock-stockholders. 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? When both parties to a contract must perform certain duties and follow rules of conduct to make the contract enforceable, the contract is.. All paid by the time the insured reaches age 65. Taxation on dividends in participating policies? What are examples of a business use of life insurance? Within what time period after completing prelicensing education must an applicant file a certificate of education completion with the Commissioner? 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). 15 B$1,000 The policyowner of an adjustable life policy wants to increase the death benefit. D Imprisonment. 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 Surplus lines. New answers. C 12 months The first three, Straight life, limited payment, and single premium, are the basic forms of whole life. 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. B Materially misrepresents an insurance policy. Under which nonforfeiture option does the company pay the surrender value and have no further obligations to the policyowner? Rebating is the practice of returning a percentage of the payment or the agent's/fee broker's on the charge to the covered, as well as additional motivators to do company with a certain insurer. What does this mean to the beneficiaries? The balance is paid out directly to the employee in order for her to move the funds to a new account. 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? Which of the following would be required to be licensed as an insurance producer? C Dividends from a mutual insurer. C Fine 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. An insured pays an annual premium to his insurer. Which of the following documents must be provided to the policyowner or applicant during policy replacement? What amount would his beneficiary receive as a settlement? Which of the following is not a standard mounting dimension for an electric motor? Which of the following best describes this act? What happens to the premium on the children's rider in a life insurance policy? Which of the following is NOT a pathway in the oxidation of glucose. 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. C Mutual Company 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. In most states, if death results from suicide within a certain period, the insurer is not obligated to pay the death benefit therefore.. What is this called? In order to enforce the insurance code the commissioner has the power to conduct which of the following? Which of the following is an example of a producer being involved in an unfair trade practice of rebating? B Twisting Within how many days does a licensee have to inform the Commissioner of a change of address? Which provision of a life insurance policy states that the insurer's duty to pay benefits upon the death of the insured, and to whom the benefits will be paid? Playing your favorite game, Roblox, on Chromebook is quite achievable, but many users are only familiar with the Play Store method. The policy endows when the insured turns 100. It can happen just as long as.. Have a guaranteed face amount and a level premium for the life of the insured. Which of the following terms describes making false statements about the financial condition of any insurer that are intended to injure any person engaged in the business of insurance? Which of the following allows different operating systems to coexist on the same physical computer?
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