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45 1 Answer/Comment. = 15 * 3/20 D An offer of employment. In decreasing policies, while the face amount decreases, the premium remains constant throughout the life of the contracts. What is the total, monetary penalty this producer can expect to receive? What is this an example of? All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT A Stocks, securities, or bonds. If the corporation collects the policy benefit, then. Time during which accumulated money is converted into an income stream. Whenever an individual stops drinking, the BAL will ________________. What would be the right policy for this client? Under what circumstances could the daughter collect the death benefit? A fixed annuity is fixed in the sense that it provides a guaranteed minimum rate of interest and income payments that do not vary from one to the next. 60. Employees must receive a minimum of $5,000 in annual compensation, no other qualified plan can be used, no more than 100 employees. Rebating is defined as any inducement offered to the insured in the sale of insurance products that is not specified in the policy. 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? Is a program that assesses and reports information about various computer resources and devices. c) Dividends are not considered to be rebates. In order to enforce the insurance code the commissioner has the power to conduct which of the following? Paid cash to cover desk purchased on account. NAIC. Insurers commonly require HIV testing; the insurer must abide by a variety of rules created by its respective state. Which of the following is not a standard mounting dimension for an electric motor? How could she obtain an individual policy? Commissioner. D A termination issued by the appointing insurer. What characteristic makes whole life permanent protection? All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents. Which of the following activities is not performed by an insurance producer? all of the following would be considered rebating except. 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. Part 2 of the application for life insurance provides questions regarding all of the following.. An insurer, agent, solicitor, or other person that violates the Insurance Code section on rebating is guilty of a misdemeanor. B$1,000 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 A Defamation What is the minimum required age for an insurance producer in this state? In the best interests of the client, rebates are allowed. USE an outline format for your notes: An As someone with fine hair that refuses to grow past my shoulders, Ill try anything that claims to give me longer, fuller, thicker hairincluding using castor oil for hair growth. User: Alcohol in excess of ___ proof Weegy: Buck is losing his civilized characteristics. For each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms. What will she need to provide for proof of insurability? What is true? Which of the following is a true statement regarding taxation of the accelerated benefits? Licensed, however, not in the state the indivisible resides. 6 2/3 Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as 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. all of the following would be considered rebating except Follow us. Mutual-policyholders; Stock-stockholders. To combat the Where is heavy cream in Walmart? C A copy of the notice to the Commissioner must be sent to the producer in question within 15 days. This is called.. Under which nonforfeiture option does the company pay the surrender value and have no further obligations to the policyowner? 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. A Unfair claims C Defamation Home; About Us. the spouse of a retiring insurance producer The cinema hall is to far from my house.Ans: The cinema hall is too far from my house.(3). Employer contributions are tax deductible as ordinary business expense, funds accumulate on tax-deferred basis, employee and employer contributions are not counted as income to the employee for income tax purposes, They are tax free to terminally ill insured, Buy-sell agreements are normally funded with a life insurance policy, The plan must be communicated to all employees, the plan must be for the exclusive benefits of the employees and their beneficiaries, the plan must be permanent, written and legally binding. 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. A. The purpose of the Tennessee Guaranty Association is to. What determines the amount of each installment paid in a life income option arrangement? If a licensee fails to earn 24 hours of CE by the required review date, the license will be suspended for up to 90 days. Correlation and Causation What are correlation and causation and how are they different? Dividends paid to policyholders of a mutual insurer are not considered to be a rebate because the policy specifies that they might be paid. If a producer discusses policy dividends in a sales presentation, what statement must the producer also make? A license may be denied, suspended, or revoked if the licensee does any of the following EXCEPT You should now have gotten the answer to your question Rebating is an unfair trade practice and is regulated by law. An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. C Twisting. If a policy has an automatic premium loan provision, what happens if the insured dies before the loan is paid back? It is never legal to limit coverage based on marital status. And insured has a modified endowment contract. An insured committed suicide 6 months after his life insurance policy was issued. New answers. must ensure a pair that's benefit claim after receiving the product of death? 1 to 50. The policy contained an accidental death rider, offering a double indemnity benefit. Playing your favorite game, Roblox, on Chromebook is quite achievable, but many users are only familiar with the Play Store method. 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? C Defamation. B - In order to collect premiums and explain coverages, a person would need to be licensed. 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 120 days. If an insurer wishes to appoint a producer, it must file a notice of appointment within how many days of the date that the contract is executed? any person acting as an insurance producer without a valid license may be fined up to. Both the offer and acceptance of a rebate are illegal. C What option could the insured utilize? 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. Purest form of term insurance; death benefit remains level, but the premium increases each year with the insured's attained age. 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? When an employee terminates coverage under group insurance policy, coverage continues in force for how long? The minimum age at which a person can sign a life insurance application is. (Example) A man purchased a $90,000 annuity with a single premium, and began receiving payments 2 months after that. What is the official name for the Social Security program? A Stocks, securities, or bonds. B Nonresident 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. Result of calculation based on the average number of months the insured is projected to live due to medical history and mortality factors? Juan is the person employees go to when knowledge of a topic was needed. D Taxation on dividends in participating policies? When would a misrepresentation on the insurance application be considered fraud? What is this called? In this situation, a licensee would have to apply for a resident's license within 90 days. When the policyowner specifies a dollar amount in which installments are to be paid, he/she has chosen which settlement option? Which statement best defines an insurance producer? The integer 4 is considered all of the following except a variable. An insured receives an annual life insurance dividend check. Defamation is making statements that are false as to the financial condition of any insurer and which are calculated to injure any person engaged in the business of insurance. Rebating can be anything 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? Define electric potential and electric potential energy. An employee quits her job where she has a balance of $10,000 in her qualified plan. Commissions are set by a schedule or negotiation between the producer and the insurance company. Eligibility requirements for a license are established by the Insurance Code. Company Information; FAQ; Stone Materials. To be able to pay some of her medical bills, she withdraws a portion of the policy's cash value. The regulation of the insurance industry primarily rest with. D A license to practice law. A In the preceding 12 months. Which of the following individuals could qualify for a temporary insurance license? Search for an answer or ask Weegy. What is the purpose of establishing the target premium for a universal life policy? B In the preceding 2 years. = 2 1/4. C Categories . The ownership provision entitles the policyowner to What is correct concerning the taxation of premiums in a key-person life insurance policy? Age A 30 days Which of the following would NOT have a policy loans provision? 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? All the following would be considered an unfair and deceptive practice. A 30 days All of the following are true regarding rebates EXCEPT a) Rebates are only allowed if specifically stated in the policy. Which of the following would be considered false advertising? 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? All riders that will cause the death benefit to increase? D B At least 3 hours must cover ethics. If she terminates her group coverage, what is true? Who is personally liable for all contracts of insurance unlawfully made with in Tennessee on behalf of an unauthorized insurer? What does this mean to the beneficiaries? An Insurer wants to begin underwriting procedures for an applicant. What is the purpose of a disclosure statement in life insurance policies? B How can she obtain an individual policy? All of the following would be considered to be rebating EXCEPT? Why would removing a trade restriction, such as a tariff, lead to more rapid economic growth? C 7 How do you get to Motion settings on iPhone? juan holds ________ power. This is considered to be false, deceptive or misleading advertising. Rebating is an unfair trade practices and is regulated by law all of the following would be considered to be rebating except 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 . C Rebating. If the corporation collect the policy benefit, then. Weegy: A basic position in American foreign policy has been that America must defend its foreign interests related to Weegy: 15 ? A M may perform all of the following duties EXCEPT. As a condition for renewal of their licenses, how many hours of continuing education required for all resident and nonresident insurance producers? Horse racing is one of the oldest and most popular racing sports in the world, but how long is a horse race? The annuity income payments are scheduled to begin after 1 year since the annuity was purchased. D$5,000. To ensure that his wife had income for life after the insured's death, he chose the life income settlement option. Unless revoked or suspended how long does a producers license remain in effect in Tennessee? 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. It is illegal to participate in any boycott, coercion, or intimidation that is intended to restrict fair trade or create a monopoly. 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. B Mailing an agency brochure to a prospective client 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? If an applicant has been licensed in the past 12 months, the Commissioner may waive education and examination requirements. The policy contains the optional Payor Benefit rider. D.the spouse of a retiring insurance producer When I just opened a new WSL2 Ubuntu 20.04 terminal and ran code . 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? What determines the length of time that benefits will be received under the fixed-amount settlement option? B. the designee of a licensed insurance producer who enters active duty in the US Armed Forces If $100,000 of life insurance proceeds were used in a settlement option, which paid $13,000 per year for ten years, which of the following would be taxable annually? In Michigan the state's continuing education requirement C$100 D 10 days. B Ultimately, the commissioner determined that there were a total of 25 separate violations. The dividend option in which the policyowner used dividends to purchase a term policy for one year is referred to as the An insured purchased a life insurance policy on his life naming his wife as primary beneficiary, and his daughter as contingent beneficiary. E The spouse of a deceased insurance producer. B A new Commissioner or Director is put into office. In which of the following situations is it legal to limit coverage based on marital status? Follow the following are true of the federal tax advantages of a qualified plan. C Mutual Company All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT In Connecticut, continuing education courses must be approved by the. And employee is insured under her employers group life plan. He never remarried and dies at age 61, leaving 2 grown-up children. D False advertising. These are all considered to be Unfair Trade Practices, which are major violations that can lead to heavy penalties. Which of the following is true? Correct Answer: A. An insured purchases a policy in 2008 and died in 2013. He dies in a freak accident on June 1. 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. A Temporary What option would allow her to do this? C Dividends from a mutual insurer. B Beneficiaries do not have to have an insurable interest in the policyholder. What would describe a legal document which would dictate who can buy a deceased partner's share of a business and for what amount? 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. All of the following concerning a non-contributory group plan is true: What is an IRS qualified retirement program for the self-employed? An insured has a life insurance policy from a participating company and receives quarterly dividends. What type of life insurance policy would be best suited to this situation? The insurer has 15 days to file a notice of producer appointment. What brand of castor oil is best for hair? Annuities are most commonly used to fund a persons retirement, but they can technically be used to accumulate cash for any reason. The requirement that an agent not co-mingle insurance monies with their own fund is known as? This rider usually expires at the insured's age of 40. Cradle. The first three, Straight life, limited payment, and single premium, are the basic forms of whole life. Attorney General.