Number of credits required for fully insured status for Social Security disability benefits? A In the preceding 12 months. User: 3/4 16/9 Weegy: 3/4 ? All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents. C Unless revoked or suspended how long does a producers license remain in effect in Tennessee? D False advertising. The insured knows that his financial state will worsen even more with upcoming medical expenses. When a beneficiary receives payments consisting of both principal and interest portions, which part are taxable as income? 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. What is being defined as the degree to which something is related or useful to what is happening or being talked about? If the policyowner, the insured, and the beneficiary under a life insurance policy are three different people, who had the ownership rights? An agent who deliberately makes a malicious statement about another insurance company is guilty of an illegal trade practice called. Flashcards - WA Common Law Practice Exam - FreezingBlue A Giving an applicant a $5 pen with the insurer's logo during the insurance application process COMPREHENSIVE Texas All Lines Adjuster Exams Bundle ,Questions With A domestic insurer issuing variable contracts must establish one or more.. Asked 10/30/2021 2:23:39 PM. 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? D What dividend option could she use? Weegy: A basic position in American foreign policy has been that America must defend its foreign interests related to Weegy: 15 ? 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? The paid-up addition option uses the dividend to.. What life insurance settlement option guarantees payments for the lifetime of the recipient, but also specifies a guaranteed period, during which, if the original recipient dies, the payments will continue to a designated beneficiary? 6 2/3 D. A salaried employee who advertises and solicits insurance. How many credit hours of excess continuing education or producers allowed to carryover to the next renewal cycle? An Insurer wants to begin underwriting procedures for an applicant. Company Information; FAQ; Stone Materials. The company also guarantees the specified dollar amount for each payment and the length of the payout period. Which of the following best describes the unfair trade practices of defamation? If a life insurance policy develops cash no you faster than a seven-pay whole life contract, it is? When a whole life policy lapses or is surrendered prior to maturity, the cash value can be use to.. An insurer, agent, solicitor, or other person that violates the Insurance Code section on rebating is guilty of a misdemeanor. In this situation, the Commissioner must be notified within 30 days. What are the three basic types of term coverage available, based on how the face amount (death benefit) changes during the policy term: Best description of what an annuity period is: Policy which allows the partial withdrawal, or surrender, of the policy cash value. This plan would be funded with before-tax corporate dollars, and it does not meet government approval standards. The type of settlement option which pays throughout the lifetimes of two or more beneficiaries is called? Under what circumstances could the daughter collect the death benefit? Commissions are set by a schedule or negotiation between the producer and the insurance company. all of the following would be considered rebating except False financial statements are made when insurance companies attempt to hide their financial troubles from the public and government officials. Upon policy delivery, the producer may be required to obtain? Which of the following is NOT a pathway in the oxidation of glucose. Time during which accumulated money is converted into an income stream. b) Rebating can be anything of economic value, given as an inducement to buy. M may perform all of the following duties EXCEPT. B Twisting B At least 3 hours must cover ethics. An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. 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. Y was killed in an automobile accident on August 22, before the policy was issued. 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. What is the clause that describes the method of paying the death benefit in the event that the insured and beneficiary are both killed in the same accident? When would a misrepresentation on the insurance application be considered fraud? 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. 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. 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. Life insurance cost indexes are our only useful when comparing a minimum of how many similar policies? If the corporation collects the policy benefit, then What is the best reason to purchase life insurance rather than annuities? D A termination issued by the appointing insurer. MI Insurance Regulation Flashcards | Quizlet Convertible without proof of insurability up to the full term death benefit. Which of the following is an example of a producer being involved in an unfair trade practices of rebating? What is true regarding a non-qualified retirement plan? C Illegal under any circumstances Are you having trouble answering the question Rebating is an unfair trade practice and is regulated by law. Follow the following are true of the federal tax advantages of a qualified plan. ________________ are owned and controlled by their policyholders. A participating life insurance policy may pay a portion of its net earnings to a policyholder, but dividends cannot be guaranteed. When may an insurance company use suicide as a defense against paying a death claim? B Misleading advertising. A 30 days A licensed counselor MAY NOT perform which of the following duties? B - In order to collect premiums and explain coverages, a person would need to be licensed. All of the following are true regarding rebates EXCEPT. A. the spouse or legal representative of a deceased insurance producer The payments that that annuitant invests into the variable annuity are invested in the insurer's separated account. What are the two components of a universal policy? Last year, she received a dividend check from the insurance company that was not taxable. A. Misrepresentation. He has instructed the company to apply the policy dividends to increase the death benefit. 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. An individual has been making periodic payments on an annuity. 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? As it turns out, the answer to this question depends upon a variety of factors. The automatic premium loan provision is activated at the end of the What premium payment mode will incur the lowest overall payment? What happens when a policy is surrendered for its cash value? If the producer continues to violate the entrance code, I knew so penalty will be assessed every? An agent offers to share his commission with a policyholder. What percentage of a company's employees must take part in a noncontributory group life plan? Purest form of term insurance; death benefit remains level, but the premium increases each year with the insured's attained age. An insurance company has published a brochure that inaccurately portrays the advantages of a particular insurance policy. What does this mean? What type of policy does the insured most likely have? The advantage of qualified plans to employers is. 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. The policyowner should have her husband named as the.. A couple owns a life insurance policy with a Children's Term rider. 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. C Dividends from a mutual insurer. All of the following concerning a non-contributory group plan is true: What is an IRS qualified retirement program for the self-employed? When both parties to a contract must perform certain duties and follow rules of conduct to make the contract enforceable, the contract is.. The regulation of the insurance industry primarily rest with. Charge a level annual premium throughout the insured's lifetime and provide a level, guaranteed death benefit. Updated 10/30/2021 2:46:29 PM. And employee is insured under her employers group life plan. What is this called? A Misdemeanor Employer contributions made to a qualified plan.. What is this an example of? Which of the following is an eligibility requirement for all Social Security disability income benefits? Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. Telling a client that his first premium will be waived if he purchases the insurance policy today. A. 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? 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. They want to start a program through their practice that will provide retirement benefits for themselves and three employees. 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? Insurers commonly require HIV testing; the insurer must abide by a variety of rules created by its respective state. A father purchases a life insurance policy on his teenage daughter and adds the Payor benefit rider. 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. If the father becomes disabled, what will happen to the life insurance premiums? Expert answered|GaelM|Points 4547| Log in for more information. C In the last 5 years. f. Get an answer. All of the following would be considered rebating except. 30 days. What is the other term for the cash payment settlement option? Minimum number of credits required for partially insured status for Social Security disability benefits is. C A reasonable understanding of the provisions, terms, and conditions of the type of insurance he/she wishes to counsel. The policy endows when the insured turns 100. What option for Universal Life allows the beneficiary to collect both the death benefit and cash value upon the death of the insured? C Class C violation In a direct rollover, how is the money transferred from one plan to the new one? Playing your favorite game, Roblox, on Chromebook is quite achievable, but many users are only familiar with the Play Store method. B An offer to share in commissions generated by the sale. C Limited lines Formula: (Ann . What is the minimum required age for an insurance producer in this state? Which of the following is true? Attorney General. A Under the fixed-period option, a specified period of years is selected, and equal installments are paid to the recipient. A producer or broker who makes oral or written statements intended to injure another producer or insurer is guilty of the unfair trade practice of defamation. The policyowner is entitled to policy loans. B A Twisting. 60 days. A This is called.. An insured pays an annual premium to his insurer. 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. 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. The designee of a producer that is called to active service with the Navy. An out-of-state producer wants to start selling insurance in this state. Which of the following documents must be provided to the policyowner or applicant during policy replacement? What type of policy is this? D 10 days. 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 had a $10,000 term life policy. What reports include written and/or oral information regarding a consumer's credit, character, reputation, or habits collected by a reporting agency from employment records, credit reports, and other public sources? C. Address Which of the following best describes this practice? Insurers are also not allowed to cancel individual coverage due to a change in marital status. Required fields are marked *, Rebating is an unfair trade practice and is regulated by law. Cradle. Group life insurance is a single policy written to provide coverage to members of a group. C Which of the following is true regarding pre-licensing education requirements for insurance producers in the state? Which nonforfeiture option provides coverage for the longest period of time? D An offer of employment. The can be changed only with the written consent of that beneficiary. An individual has been diagnosed with Alzheimer's disease. All of the following actions can be described as twisting EXCEPT. 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. C Accidentally misspells the name of the insurance policy in a written communication to a customer. ResponsibilitymarginContributionmarginPerformancemarginTransferpriceCost-plustransferpriceProductcostsCommonfixedcostsTraceablefixedcostsCommittedfixedcosts. B Illegal What option could the insured utilize? 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? all of the following would be considered rebating except. An agent misrepresents policy benefits to convince a policyowner to replace policies. A Payment of restitution C A legal advertising strategy Added 30 days ago|10/30/2021 2:46:29 PM. In order to receive a commission, a person is required to How many accounts must to Tennessee life and health insurance Guaranty association maintain? 30 Example: the insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. Which of the following statements about the reinstatement provision is true? A nonresident producer is a producer who is domiciled and licensed as a resident producer in another state. A$500 D Misrepresentation, How much is an agent's appointment fee? What type of policy is this? If an individual licensee's violation of the entrance code was known or should have been down by one or more of the partners, officers, or managers of the agency, what could happen to agency? The first three, Straight life, limited payment, and single premium, are the basic forms of whole life. Search for an answer or ask Weegy. = 15 * 3/20 What must be acceptable in order for the ride to be able to waive the payment of premium? B 60 days D False financial statement. B Applies to life, annuity, and accident and health licensees only. A candidate for life insurance producer's license must complete how many hours of prelicensing education? All of the following acts are considered unfair trade - Course Hero In which of the following situations is it legal to limit coverage based on marital status? As the local coffee shop is just initiating the segmentation and targeting process, what has . Which of the following terms best describes the advertisement? What would be the right policy for this client? Both the offer and acceptance of a rebate are illegal. What policy component contains the company's promise to pay? B Advertise & solicit business as an insurance counselor or consultant B 7 days What type of license should the producer obtain? Employees must receive a minimum of $5,000 in annual compensation, no other qualified plan can be used, no more than 100 employees. Log in for more information. What is the term for how frequently a policyowner is required to pay the policy premium? In this situation, a licensee would have to apply for a resident's license within 90 days.
Orlando Anderson Interview,
Bay Area Veterinary Surgery,
Claudette Bailon Wedding,
Gabrielle Greene Wedding,
Articles A