all of the following would be considered rebating excepthow to play spiderheck multiplayer
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 D. Commissioner. Flashcards - WA Common Law Practice Exam - FreezingBlue A candidate for life insurance producer's license must complete how many hours of prelicensing education? The least expensive first year premium payment is found in.. What determines the cash value of a variable life policy? A Discrimination. 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. Upon policy delivery, the producer may be required to obtain? Obtain appropriate signatures on the application for insurance, help prevent adverse selection, and solicit business that will fall within the insurer's underwriting guidelines. D False advertising. Rebates are allowed if it's in the best interest of the client. Last year, she received a dividend check from the insurance company that was not taxable. What is this an example of? When both parties to a contract must perform certain duties and follow rules of conduct to make the contract enforceable, the contract is.. 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? Which type of life insurance policy allows the policyowner to pay more or less than the planned premium? Upon receipt of notice of appointment, the commissioner must verify the insurance producer is eligible for appointment within how many days? What type of insurance policy would perform the function of cash accumulation? Eligibility requirements for a license are established by the Insurance Code. D Misrepresentation. What statement concerning group life is true? (Example) your client wants both protection and savings from the insurance, and is willing to pay premiums until retirement at age 65. What is true? A temporary license in this state is valid for a maximum of When a whole life policy lapses or is surrendered prior to maturity, the cash value can be use to.. She would likely purchase a(n)? He wants to withdraw some money in order to pay medical bills. 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. 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? There is no limitation on the number of key employee plans in force at any one time, the employer is the owner, Payor and beneficiary of the policy, the key employee is the insured. Gender 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. What is the advantage of reinstating a policy instead of applying for a new one? 1 to 50. Chapter 11 part 2 Flashcards | Quizlet B At least 3 hours must cover ethics. A license may be denied, suspended, or revoked if the licensee does any of the following EXCEPT C It requires satisfactory completion of at least 24 hours of approved training every biennium. Time during which accumulated money is converted into an income stream. All of the following would be considered to be rebating EXCEPT? A In the preceding 12 months. What is the purpose of a free-look period in insurance policies? Any surplus money is returned to the policyholders as dividends. The can be changed only with the written consent of that beneficiary. What is true regarding a non-qualified retirement plan? Annuities are most commonly used to fund a persons retirement, but they can technically be used to accumulate cash for any reason. 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. 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. D$5,000. Attorney General. Old-age and retirement benefits, disability benefits, death benefits. Candidates for either a property license or a casualty license must complete how many hours of pre-licensing education? C Illegal under any circumstances It is the premium paying period that is limited, not the maturity. All of the following could own a group life insurance EXCEPT A group needing low-cost life insurance An applicant for a producer's license has successfully completed all of the steps to obtain the license. Describe the relationship between potential difference and electrical potential energy. What option for Universal Life allows the beneficiary to collect both the death benefit and cash value upon the death of the insured? The insured had his wife named as the beneficiary of his life insurance policy. Their daughter is reaching the maximum age of dependent coverage, so she will have to convert to permanent insurance in the near future. A The "accumulation period" is the period of time over which the annuitant makes payments (premiums) into an annuity. Each of the following statements may (or may not) describe one of these technical terms. The ownership provision entitles the policyowner to What is correct concerning the taxation of premiums in a key-person life insurance policy? 16/9 = Weegy: Whenever an individual stops drinking, the BAL will decrease slowly. B The following areas are regulated by the Insurance Department EXCEPT Person entitled to exercise the rights and priveleges in the policy, Amount paid upon the death of the insured in a life insurance policy. What statement is true concerning buy-sell agreements? Employees must receive a minimum of $5,000 in annual compensation, no other qualified plan can be used, no more than 100 employees. select one: Which set of characteristics will produce the smallest value for the estimated standard error? B 90 days D A license to practice law. In this situation, the Commissioner must be notified within 30 days. 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? Up to 12 excess credit hours of CE may be carried over to the next review period. Before the Director will issue a license, a person must meet all of the following qualifications EXCEPT a. In this situation, a licensee would have to apply for a resident's license within 90 days. B 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. Which of the following will NOT be considered unfair discrimination by insurers? A Cannot be extended or waived under any circumstances. A$500 A cease and desist order requires an individual to stop doing a specific activity that the Commissioner believes to be violating the Insurance Code. C Two letters of recommendation attesting to trustworthiness, reliability, and good reputation The designee of a producer that is called to active service with the Navy. There is a limit for a withdrawal and the insurer charges a fee. D$2,000. This misstatement may result in? All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT A Stocks, securities, or bonds. Within how many days does a licensee have to inform the Commissioner of a change of address? What term best describes this arrangement? All paid by the time the insured reaches age 65. If convicted for a false claim, an insured, agent, collector, physician or any other person could be fined up to $1,000. 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). 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. ________________ are owned and controlled by their policyholders. D False advertising is the illegal practice of advertising or circulating materials that are untrue, deceptive, or misleading. The integer 4 is considered all of the following except _____. What happens to the premium on the children's rider in a life insurance policy? Regarding the free-look provision, the insurance company.. What happens when a children's rider is added to an insured's permanent life insurance policy? Earnings grow tax-deferred, contributions are not currently taxable, it can discriminate in benefits and selecting participants, For a retirement plan to be qualified, it must be designed for the benefit of. The policy contains the optional Payor Benefit rider. 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? Which of the following individuals could qualify for a temporary insurance license? Discrimination. A Twisting. Which of the following would be considered an illegal inducement to purchase insurance? Rebating is an unfair trade practices and is regulated by law all of the following would be considered to be rebating except. 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 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. Cradle. The protocol for replacement does not apply to which of the following situations? 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. An annuity owner is funding an annuity that will supplement her retirement. Log in for more information. B A new Commissioner or Director is put into office. Each agent must pay a $5 appointment fee to the Commissioner. 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 In which of the following situations is it legal to limit coverage based on marital status? "At the time of the application" is when interest must exist. 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? all of the following would be considered rebating except. Which type of life insurance policy generates immediate cash value? C Controlled business. What are the two components of a universal policy? June 14, 2022; jeep renegade 4x4 usata francoforte sul meno; astrological predictions for trump 2022 . There are just too many details and specifications which you must be certain of when looking for one. From what type of insurer did the insured purchase the policy? All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents. the spouse of a retiring insurance producer All of the following would be considered rebating except. Answer-All of the following are considered key logistic functions in Which of the following is true regarding pre-licensing education requirements for insurance producers in the state? Why is an equity Indexed annuity considered to be a fixed annuity? Under the fixed-period option, a specified period of years is selected, and equal installments are paid to the recipient. C Listing the insurance companies the agency represents in a letter Which of the following best describes this practice? 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? D Beneficiaries do not have to have an insurable interest in the policyholder. A Temporary launchpad classlink nmusd; cantonese text to speech; 15 second tv commercial script examples Licensed, however, not in the state the indivisible resides. 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. A Rebating. A Illegal until endorsed by the Guaranty Association Licensed, however, is outside of the U.S. Insurers who are owned by stockholders who have the usual rights of ownership, including the right of voting? An agent who offers a cash reward to a prospect for buying a policy is guilty of. B. D An offer of employment. 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? A Provide opinions concerning benefits, coverage, terms, and advantages and disadvantages of a policy or annuity Added 149 days ago|10/30/2021 2:46:29 PM. Required by state law to be included in the policy, and cannot be altered by the policyowner. all of the following would be considered rebating except B Stock Company What term means a result of calculation based on the average number of months the insured is projected to live due to medical history and mortality factors? If an immediate annuity is purchased with the face amount at death or with the cash value at surrender, this would be considered a? all of the following would be considered rebating except D Inviting prospective clients to the grand opening of the producer's new office. What best describes what will happen? Business entity means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. Department of Education. Life Insurance 3 Flashcards | Chegg.com It is illegal to participate in any boycott, coercion, or intimidation that is intended to restrict fair trade or create a monopoly. In order for an insurer to legally transact insurance, it must obtain what? 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? There are several types of whole life polices. An insurer devises in a determination strategy in order to quarter a large portion of the insurance market. Nonforfeiture values guarantee which policyowner? D. Sexual orientation. It is never legal to limit coverage based on marital status. Horse racing is one of the oldest and most popular racing sports in the world, but how long is a horse race? 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. 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. A Defamation Which of the following could be used when a corporation, association, partnership, or limited liability partnership acts as a producer? Which of the following activities is not performed by an insurance producer? all of the following would be considered rebating except
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all of the following would be considered rebating except