all of the following would be considered rebating except

She also wished to retain all of the rights of ownership. He never remarried and dies at age 61, leaving 2 grown-up children. C D 120 days. The "accumulation period" is the period of time over which the annuitant makes payments (premiums) into an annuity. All the following could be considered rebates if offered to an insured in the sale of insurance except? 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 A Defamation 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. What is not an example of a business use of life insurance? launchpad classlink nmusd; cantonese text to speech; 15 second tv commercial script examples All of the following would be considered to be rebating EXCEPT, which was part of Insurance MCQs & Answers. If the corporation collect the policy benefit, then. Who can make a fully deductible contribution to a traditional IRA? Which of the following activities is not performed by an insurance producer? 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. What source will it consult for the majority of its underwriting information? B Mailing an agency brochure to a prospective client 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. What license or licenses are required to sell variable life annuities? The main difference between immediate and deferred annuities is What does "level" refer to in level term insurance? 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. File an application with the Director b. Minimum number of credits required for partially insured status for Social Security disability benefits is. What is the minimum civil fine per violation of the Insurance Code of this state? The "owner" is the person who purchases the contract and has all of the rights such as naming the beneficiary and surrendering the annuity. D$5. M may perform all of the following duties EXCEPT. What option could the insured utilize? A straight life policy has what type of premium? B Twisting The purpose of the Tennessee Guaranty Association is to. 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. What brand of castor oil is best for hair? All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT A Stocks, securities, or bonds. Ownership is the difference between these two companies. 30 days. 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. Part 2 of the application for life insurance provides questions regarding all of the following.. C Two letters of recommendation attesting to trustworthiness, reliability, and good reputation there is no provision in the insurance code that allows for a temporary licensed to be issued on behalf of a producer. Candidates for either a property license or a casualty license must complete how many hours of pre-licensing education? Added 149 days ago|10/30/2021 2:46:29 PM. The policyowner should have her husband named as the.. A couple owns a life insurance policy with a Children's Term rider. Time during which accumulated money is converted into an income stream. The integer 4 is considered all of the following except _____. Term used to name the no taxes return of unused premiums? What will she need to provide for proof of insurability? -is what's meant by the phrase "The domesticated generations fell Weegy: A suffix is added to the end of a word to alter its meaning. An agent misrepresents policy benefits to convince a policyowner to replace policies. in order to reinstate a life insurance policy the insured must do all of the following except: pay next year's premium in advance. Rating. In return, the insurer promised to pay benefits in accordance with the terms of the contract. The ownership provision entitles the policyowner to What is correct concerning the taxation of premiums in a key-person life insurance policy? What type of annuity is it? B Coercion. A$500 D A termination issued by the appointing insurer. D. Sexual orientation. D Inviting prospective clients to the grand opening of the producer's new office. Which of the following is not a standard mounting dimension for an electric motor? 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.. = 15 ? An individual has been diagnosed with Alzheimer's disease. D 10. Which type of life insurance policy allows the policyowner to pay more or less than the planned premium? Annuities are most commonly used to fund a persons retirement, but they can technically be used to accumulate cash for any reason. B$1,000 It can happen just as long as.. Have a guaranteed face amount and a level premium for the life of the insured. An insured committed suicide 6 months after his life insurance policy was issued. New answers. A father purchases a life insurance policy on his teenage daughter and adds the Payor benefit rider. All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents. This is a personal use of life insurance known as. A temporary license may be issued for up to 180 days. 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? Only any excess of value is taxable as income. If convicted for a false claim, an insured, agent, collector, physician or any other person could be fined up to $1,000. An insured pays an annual premium to his insurer. C Rebating C A legal advertising strategy 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. B Misleading advertising. A Taxation on dividends in participating policies? Which of the following, upon conviction, carries a fine of up to $2,000 for each violation? Is a mandatory provision that allows the insured to examine a policy, and if dissatisfied for any reason, return the policy for a full refund of any premiums paid. And employee quits his job and converts his group policy to an individual policy; the premium for the individual policy will be based on his All of the following would be different between qualified and nonqualified retirement plans: An employee has group life insurance through her employer. B 3 days All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents. What type of life insurance policy would be best suited to this situation? What is the purpose of a free-look period in insurance policies? B Criminal offense What is the minimum required age for an insurance producer in this state? 90 days. Paid cash to cover desk purchased on account. D Legal, provided that the information can be verified. B An offer to share in commissions generated by the sale. A temporary license in this state is valid for a maximum of 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? Upon conviction, a person who has submitted a false or fraudulent claim or report to the insurer may be fined, imprisoned, or both, and required to pay restitution. Autotrophs (like plants) produce glucose during photosynthesis. False advertising is the illegal practice of advertising or circulating materials that are untrue, deceptive, or misleading. 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? Gender Number of credits required for fully insured status for Social Security disability benefits? E The spouse of a deceased insurance producer. All paid by the time the insured reaches age 65. To combat the Where is heavy cream in Walmart? Why is an equity Indexed annuity considered to be a fixed annuity? A Stocks, securities, or bonds. 3. Because of this, the company charged him a higher rate for his insurance. He dies in a freak accident on June 1. Cradle. 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. B Community service 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. The agent is guilty of B - In order to collect premiums and explain coverages, a person would need to be licensed. 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. All of the following would be considered rebating except. B Twisting. 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. How are contributions to a tax-sheltered annuity treated with regards to taxation? A. Misrepresentation. Although the appointment is made by the head of the Insurance Department, that person leaving the office does not terminate existing appointments. C 30 days Coercion, for example, is when the bank won't give you an auto loan unless you agree to buy auto insurance from them. 20/3 D False financial statement. 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. The producer could be found guilty of? Y was killed in an automobile accident on August 22, before the policy was issued. juan holds ________ power. C Dividends from a mutual insurer. C Defamation. When the policyowner specifies dollar amount in which installments are to be paid, he/she has chosen which settlement option? A Defamation Within how many days of this notification must the producer be sent a copy? What determines the amount of each installment paid in a life income option arrangement? 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. B Twisting B In the preceding 2 years. A It allows for up to 15 excess credit hours to be carried forward to the next reporting period. Required by state law to be included in the policy, and cannot be altered by the policyowner. The Insurance Department regulations are to protect the insurance-buying public. She would likely purchase a(n)? 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 agent who deliberately makes a malicious statement about another insurance company is guilty of an illegal trade practice called. How long must an insurer keep a copy of an authorized form in its records? D Question. = 45/20 In a direct rollover, how is the money transferred from one plan to the new one? ________________ are owned and controlled by their policyholders. A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. Which of the following would be considered an illegal inducement to purchase insurance? B$1 If a life insurance policy develops cash no you faster than a seven-pay whole life contract, it is? 45 B 30 And employee quits her job where she has a balance of $10,000 in her qualified plan. B Undercutting There are just too many details and specifications which you must be certain of when looking for one. Whenever an individual stops drinking, the BAL will ________________. A Assigning different risk classifications to applicants based on gender identity Discrimination. C Accidentally misspells the name of the insurance policy in a written communication to a customer. 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? C A producer's license expires and is not renewed. It was determined that the accident was his fault. New answers. Unintentional misspellings are not a misrepresentation. In the best interests of the client, rebates are allowed. A domestic insurer issuing variable contracts must establish one or more.. SUGGESTIONS FOR PREPARING SPEAKING NOTES While several of these reminders might strike you as obvious, speakers often ignore them when preparing to speak. In Michigan the state's continuing education requirement How do you get to Motion settings on iPhone? Within how many days of requesting an investigative consumer report must an insurer notify the consumer in writing that the report will be obtained? D Adverse selection. C Defamation 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? A Cannot be extended or waived under any circumstances. A$500 An insured receives an annual life insurance dividend check. 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, D) An agent offers the use of his lake house to person as an inducement to buy, Answer:C) An agent uses misrepresentation to convince a person to cancel an existing policy and take a new policy from him. Brand managers can use Twitter strategically to accomplish all of the following, except: A local coffee shop conducts a survey of area residents who enter each one of the coffee shops in the area and learns that 85% desire an organic, fair-trade option. 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? ResponsibilitymarginContributionmarginPerformancemarginTransferpriceCost-plustransferpriceProductcostsCommonfixedcostsTraceablefixedcostsCommittedfixedcosts. Therefore, in the other types of level policies, the first-year premium would not be different from any other year. What amount would his beneficiary receive as a settlement? 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.

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