The type of settlement option which pays throughout the lifetimes of two or more beneficiaries is called? All the following are true regarding rebates except? D Engages in fraud. When an insurance agency published an advertising brochure, it emphasized the company's financial stability and sound business practices. = 2 1/4. How many credit hours of excess continuing education or producers allowed to carryover to the next renewal cycle? 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. Question. A Cannot be extended or waived under any circumstances. B Legal, provided that the other insurers are paid royalties for the usage of their names Group life insurance is a single policy written to provide coverage to members of a group. The regulation of the insurance industry primarily rest with. How much would the beneficiary receive from the policy? In decreasing policies, while the face amount decreases, the premium remains constant throughout the life of the contracts. As a condition for renewal of their licenses, how many hours of continuing education required for all resident and nonresident insurance producers? An employee quits her job where she has a balance of $10,000 in her qualified plan. There are several types of whole life polices. What option could the insured utilize? B 7 days What is the maximum fine for submitting a false or fraudulent claim to the insurer? Both the offer and acceptance of a rebate are illegal. A rebate is a type of purchasing discount that is paid as a reduction. Which of the following allows different operating systems to coexist on the same physical computer? A Vscode No server install found in WSL, needs x64. D Other than the 3 hours of ethics, licensees may take courses in any line. B Twisting C During the underwriting process, the insurance company found no reason to reject the risk or classify it other than as standard. 6 2/3 All of the following are true regarding rebates EXCEPT: A) Rebating can be anything of economic value, given as an inducement to buy B) Rebates are always allowed C) Rebates are only allowed if specifically stated in the policy D) Dividends are not considered to be rebates When does the policy coverage become effective? ResponsibilitymarginContributionmarginPerformancemarginTransferpriceCost-plustransferpriceProductcostsCommonfixedcostsTraceablefixedcostsCommittedfixedcosts. Attorney General. The ownership provision entitles the policyowner to do what? C Listing the insurance companies the agency represents in a letter 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? Time during which accumulated money is converted into an income stream. Which of the following has not been taken to court for further interpretation? A. Misrepresentation. June 14, 2022; jeep renegade 4x4 usata francoforte sul meno; astrological predictions for trump 2022 . If an immediate annuity is purchased with the face amount at death or with the cash value at surrender, this would be considered a? C Accidentally misspells the name of the insurance policy in a written communication to a customer. C Defamation. Dividends paid to policyholders of a mutual insurer are not considered to be a rebate because the policy specifies that they might be paid. Coercion, for example, is when the bank won't give you an auto loan unless you agree to buy auto insurance from them. He has instructed the company to apply the policy dividends to increase the death benefit. B Twisting D False advertising. If a company has a simplified employee pension plan, what type of plant is it? Which policy component decreases in decreasing term insurance? C In the last 5 years. 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. 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. A temporary license in this state is valid for a maximum of How many days does the insurer have to deliver this notice? A Payment of restitution A temporary producer license could be issued without examination to all the following EXCEPT? D Misrepresentation, How much is an agent's appointment fee? A 15 Insurers commonly require HIV testing; the insurer must abide by a variety of rules created by its respective state. must ensure a pair that's benefit claim after receiving the product of death? If a life insurance policy develops cash no you faster than a seven-pay whole life contract, it is? 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? 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. 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 is NOT a pathway in the oxidation of glucose. User: 3/4 16/9 Weegy: 3/4 ? All of the following are true regarding rebates EXCEPT a) Rebates are only allowed if specifically stated in the policy. The policyowner may assign a part of the policy or the entire policy. Which of the following will NOT be considered unfair discrimination by insurers? Rebating can be anything of . Within what time period after completing prelicensing education must an applicant file a certificate of education completion with the Commissioner? 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. The "accumulation period" is the period of time over which the annuitant makes payments (premiums) into an annuity. An insured misstates her age at the time the life insurance application is taken. 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. Who can make a fully deductible contribution to a traditional IRA? 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. Which road apply for the agent knows an applicant is going to cash in an old policy and use the funds to purchase new insurance? An insured owns a life insurance policy. Therefore, in the other types of level policies, the first-year premium would not be different from any other year. The annuity income payments are scheduled to begin after 1 year since the annuity was purchased. Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as. B$1,000 Weegy: A basic position in American foreign policy has been that America must defend its foreign interests related to Weegy: 15 ? 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 For an individual who is NOT covered by an employer-sponsored plan, IRA contributions are, Amount of coverage is determined according to nondiscriminatory rules, individuals covered, under the policy receive a certificate of insurance, certificate holders may convert coverage to an individual policy without evidence of insurability. Variable life insurance is regulated by..: Equity Indexed Annuities invest on an aggressive basis in order to yield higher returns. B In level term and increasing term policies, the premium also remains level for the term of the policy. They want to start a program through their practice that will provide retirement benefits for themselves and three employees. What type of annuity is it? This is considered to be an unfair claim settlement practice All other factors being equal, what would the premium be like in a survivorship life policy as compared to the premium in a joint life policy? All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT A Stocks, securities, or bonds. A Adverse selection B What term best describes this arrangement? 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. All of the following would be considered to be rebating EXCEPT, which was part of Insurance MCQs & Answers. This misstatement may result in? 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 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. An insured committed suicide 6 months after his life insurance policy was issued. 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. For the purpose of making an investigation, the commissioner does have the power to do all the following: And in sure publishes intimidating brochures at portray the insurer's competition as financially and professionally unstable. Employees must receive a minimum of $5,000 in annual compensation, no other qualified plan can be used, no more than 100 employees.