all of the following would be considered rebating except all of the following would be considered rebating except

In this state, a temporary license may be issued for any of the following reasons EXCEPT. If an insured receives accelerated death benefits, what is the least amount of the original death benefit that the beneficiary would receive after the insured's death? 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? Which of the following is not a standard mounting dimension for an electric motor? What is true about beneficiary designations? It is illegal to participate in any boycott, coercion, or intimidation that is intended to restrict fair trade or create a monopoly. C 30 days Therefore, in the other types of level policies, the first-year premium would not be different from any other year. A Concealment. The policy endows when the insured turns 100. An agent misrepresents policy benefits to convince a policyowner to replace policies. D 2 years. Any person found guilty of a violation of the Insurance Code of this state may be subject to a civil fine of up to $1,000 for each violation, or up to $5,000 for willful violations (not to exceed $50,000). C Controlled business. A Insurers commonly require HIV testing; the insurer must abide by a variety of rules created by its respective state. The balance is paid out directly to the employee in order for her to move the funds to a new account. C Coercion. Discriminating in benefits based on the insured's habits and lifestyle (such as smoking or dangerous hobbies) is acceptable. B If an insured continually uses the automatic premium loan option to pay the policy premium. The annuity income payments are scheduled to begin after 1 year since the annuity was purchased. Issuing or circulating any sales material that is false or misleading would be considered misrepresentation and is illegal. A Twisting. 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. A 60 days The "owner" is the person who purchases the contract and has all of the rights such as naming the beneficiary and surrendering the annuity. In the best interests of the client, rebates are allowed. 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. What must be presented before an applicant submits a premium? A$500 In reality, its financial health is terrible, and the company will soon have to file for bankruptcy. When the policyowner specifies a dollar amount in which installments are to be paid, he/she has chosen which settlement option? Two individuals are in the same risk and age class; yet, they are charged different rates for their insurance policies due to an insignificant factor. The insurer's surrender the policy at its current cash value. D Articles of merchandise with an invoice value of $5 or less for life insurance agents and $10 or less for property and casualty agents $10 or less are not considered rebates, and are allowed as gifts to insurance applicants or insured. And employee is insured under her employers group life plan. The following areas are regulated by the Insurance Department EXCEPT Which of the following is possible? C Sharing commission with the insured 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. If you like the fitness and motion activity tracking feature on the iPhone, you should have this setting left on. All Of The Following Are True Regarding Rebates Except WINDOWPANE is the live-streaming app for sharing your life as it happens, without filters, editing, or anything fake. D False advertising. Michigan's continuing education requirement consists of completing 24 hours of CE each biennium, with at least 3 of those hours in Ethics. Because of this, the company charged him a higher rate for his insurance. D. Sexual orientation. What is true of the cash surrender nonforfeiture option? Person entitled to exercise the rights and priveleges in the policy, Amount paid upon the death of the insured in a life insurance policy. In this situation, the Commissioner must be notified within 30 days. Within how many days does a licensee have to inform the Commissioner of a change of address? The president of a manufacturing company has offered one of the company's officers a special individual annuity plan that is unavailable to lower-echelon employees. A key person insurance policy can pay for which of the following? May be used to customize a permanent life insurance policy to meet the needs of the policyowner, Mandatory free look in a life insurance policy. 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 When a whole life policy lapses or is surrendered prior to maturity, the cash value can be use to.. C$1,500 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? What type of insurance policy may be used to fund this agreement? Which two terms are associated directly with the premium? Licensed counselors may perform the following duties: audit or abstract insurance policies or annuities; provide advice, counsel, or opinions concerning benefits, coverage, terms, and advantages and disadvantages of a policy or annuity; and advertise and solicit business as an insurance counselor or consultant. 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. Which policy component decreases in decreasing term insurance? C Dividends from a mutual insurer. Is a program that assesses and reports information about various computer resources and devices. All the following would be considered an unfair and deceptive practice. C Two letters of recommendation attesting to trustworthiness, reliability, and good reputation You dont have to worry about it anymore. Rating. All of the following are true regarding rebates - Course Hero Mutual-policyholders; Stock-stockholders. An insured had a $10,000 term life policy. He has instructed the company to apply the policy dividends to increase the death benefit. The ownership provision entitles the policyowner to do what? What would be the right policy for this client? Upon policy delivery, the producer may be required to obtain? A policyowner fails to pay the premium due on his whole life policy after the grace period passes, but the policy remains in force. New answers. What is the primary purpose of a 401(k) plan? All of the following actions are considered rebating except 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. A Giving an applicant a $5 pen with the insurer's logo during the insurance application process B. An insured purchased an insurance policy 5 years ago. Th rider in a whole life policy that allows the company to forgo collecting the premium if the insured is disabled is called? When an insurance agency published an advertising brochure, it emphasized the company's financial stability and sound business practices. This practice is considered? B Suspension of authority What option would allow her to do this? An insurer devises in a determination strategy in order to quarter a large portion of the insurance market. When a beneficiary receives payments consisting of both principal and interest portions, which part are taxable as income? Vscode No server install found in WSL, needs x64. C Twisting. What statement concerning group life is true? 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 The first three, Straight life, limited payment, and single premium, are the basic forms of whole life. D Producer commission schedules. C 7 Who can make a fully deductible contribution to a traditional IRA? What would be the face amount of the new term policy? In this state, what type of violation is rebating? A Rebating. A candidate for life insurance producer's license must complete how many hours of prelicensing education? 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. In this case, what will the policy beneficiary receive? Discrimination. Life insurance cost indexes are our only useful when comparing a minimum of how many similar policies? How could she obtain an individual policy? What is the maximum fine for submitting a false or fraudulent claim to the insurer? The least expensive first year premium payment is found in.. What determines the cash value of a variable life policy? I no the truth.Ans: I know the truth.(2). The integer 4 is considered all of the following except _____. A. In this situation, a licensee would have to apply for a resident's license within 90 days. Autotrophs (like plants) produce glucose during photosynthesis. all of the following would be considered rebating except Follow us. 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. The dividend option that the insured has chosen is called? All of the following are true regarding rebates EXCEPT a) Rebates are only allowed if specifically stated in the policy. Cradle. B Nonresident Ownership is the difference between these two companies. Time during which accumulated money is converted into an income stream. The agent is guilty of? What is this called? 1 to 50. 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? Chinese Granite; Imported Granite; Chinese Marble; Imported Marble; China Slate & Sandstone; Quartz stone After 5 years, she decides to leave the company and work independently. An employee quits her job where she has a balance of $10,000 in her qualified plan. juan holds ________ power. Individuals covered under the policy receive a certificate of insurance, certificate holders may convert coverage to an individual policy without evidence of insurability, and amount of coverage is determined according to non discriminatory rules. All of the following acts are considered unfair trade - Course Hero D 10. Any inducement offered to the insured in the sale of an insurance policy that is not specified in the policy is an unlawful practice known as B. Defamation. Which type of life insurance policy allows the policyowner to pay more or less than the planned premium? The separate account under many annuities provides the annuitant with a dozen or more investment options ranging from "money market funds" to "growth stock funds" to "precious metal funds". What can they do? The soon-to-be producer does not want to wait until he receives his license in order to begin working. Death benefits payable to a beneficiary under a life insurance policy are generally. 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. Search for an answer or ask Weegy. The integer 4 is considered all of the following except _____. a all of the following would be considered rebating except All of the following concerning a non-contributory group plan is true: What is an IRS qualified retirement program for the self-employed? Correct Answer: A. 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? During replacement of life insurance, or replacing ensure musky which of the following? 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? ResponsibilitymarginContributionmarginPerformancemarginTransferpriceCost-plustransferpriceProductcostsCommonfixedcostsTraceablefixedcostsCommittedfixedcosts. launchpad classlink nmusd; cantonese text to speech; 15 second tv commercial script examples all of the following would be considered rebating except When both parties to a contract must perform certain duties and follow rules of conduct to make the contract enforceable, the contract is.. C Accidentally misspells the name of the insurance policy in a written communication to a customer. What policy component contains the company's promise to pay? Telling a client that his first premium will be waived if he purchases the insurance policy today. What are examples of a business use of life insurance? What is the minimum civil fine per violation of the Insurance Code of this state? A temporary license may be issued for up to 180 days. Which of the following terms best describes the advertisement? If an insurance company has published a brochure that in accurately portrays the advantages of a particular insurance policy. A A good business reputation and good moral character. A man decided to purchase a $100,000 Annually Renewable Term Life Policy to provide additional protection until his children finished college. Licensed, however, not in the state the indivisible resides. How much would the beneficiary receive from the policy? B Legal, provided that the other insurers are paid royalties for the usage of their names A 60 year old participate in a 401(k) plan takes a distribution in rolled it over to it I already within 60 days. 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. all of the following would be considered 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? Commissioner. The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. B At least 3 hours must cover ethics. Rebates include money, sharing of commissions, promises, inducements and personal services. C Dividends from a mutual insurer. C Solicit business as an insurance producer What is the minimum required age for an insurance producer in this state? An insured had a continuous premium whole life policy. If the corporation collects the policy benefit, then What is the best reason to purchase life insurance rather than annuities? The insured knows that his financial state will worsen even more with upcoming medical expenses. 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. C. the employee of a disabled licensed a producer -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. Once the policyholder opts for cash surrender, the policy is immediately inactive. C Fine B Undercutting In return, the insurer promised to pay benefits in accordance with the terms of the contract. Your email address will not be published. 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? What is the purpose of establishing the target premium for a universal life policy? D Felony. In Michigan the state's continuing education requirement In level term and increasing term policies, the premium also remains level for the term of the policy. What is the other term for the cash payment settlement option? C$100 I love when a hack helps me to recycle, and makes my life easier. This year, she did not receive a check fin from the insurer. B Twisting. How many days does the insurer have to deliver this notice? A In the preceding 12 months. Which of the following best describes the act? Taxation on dividends in participating policies? Correlation and Causation What are correlation and causation and how are they different? B 90 days The insurance company discovers at that time that the insured concealed info during the application process. Question. A participating life insurance policy may pay a portion of its net earnings to a policyholder, but dividends cannot be guaranteed. An insured pays an annual premium to his insurer. Because of this, the company charged him a higher rate for his insurance. An annuity owner is funding an annuity that will supplement her retirement. Most horse (1). 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. What type of life insurance policy would be best suited to this situation? If an insured surrenders his life insurance policy, what is true regarding the cash value of the policy? A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. An appointment by an insurer is based upon the person maintaining a valid insurance license. Which of the following would NOT be considered rebating? Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as. Like a fixed annuity, EIA's have guaranteed minimum interest rates, also less risky than variable annuities, the insurance company also keeps a percentage of the returns. What is the purpose of a fixed-period settlement option? Rebating can be anything of . 3. Ultimately, the commissioner determined that there were a total of 25 separate violations. Identify the types of assets assigned to each classification. The policyowner of an adjustable life policy wants to increase the death benefit. This rider will not cause the death benefit to increase. A copy of the notice to the Commissioner must be sent to the producer in question within 15 days. = 15 ? Added 149 days ago|10/30/2021 2:46:29 PM. What type of policy does the insured most likely have? 30 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. In which instance would the premium be tax deductible? All of the following actions can be described as twisting EXCEPT. Question is All of the following species are considered coliforms The producer could be found guilty of? 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 What is not an example of a business use of life insurance? Search for an answer or ask Weegy. Under the fixed-period option, a specified period of years is selected, and equal installments are paid to the recipient. In an annuity, the accumulated money is converted into a stream of income during what time period? Question. unit 3: personal and business finance grade boundaries. All of the following would be considered to be rebating EXCEPT, which was part of Insurance MCQs & Answers. B In the preceding 2 years. Discriminating between individuals of the same class with equal life expectancies, or by reason of race, nationality, or ethnic group would be considered unfair discrimination. B Discrimination It is never legal to limit coverage based on marital status. What determines the amount of each installment paid in a life income option arrangement? NAIC. The bank is prepared to offer the loan but only if the customer purchases a life insurance policy from the bank in the amount of the loan. B Criminal offense Texas All Lines Adjuster Test - Questions And Answers-Accumulated Depreciation - The total decrease in an item's value over a period of time. And employee quits her job where she has a balance of $10,000 in her qualified plan. Unless revoked or suspended how long does a producers license remain in effect in Tennessee? A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. What statement is true concerning buy-sell agreements? 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? When the policyowner specifies dollar amount in which installments are to be paid, he/she has chosen which settlement option? Which of the following would require an individual to stop participating in a specific activity if the Commissioner believes to be violating the Insurance Code? A straight life policy has what type of premium? What dividend option could she use? When the agent delivers the policy, collects the initial premium, and the applicant completes an acceptable statement of Good Health, A presentation of non-guaranteed elements of a policy, One-sided: only one party makes an enforceable promise. An individual has been making periodic payments on an annuity. select one: Which set of characteristics will produce the smallest value for the estimated standard error? The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. 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. An agent who deliberately makes a malicious statement about another insurance company is guilty of an illegal trade practice called. C It requires satisfactory completion of at least 24 hours of approved training every biennium. A Cannot be extended or waived under any circumstances. C Mutual Company What license or licenses are required to sell variable life annuities? Which of the following has not been taken to court for further interpretation? Which of the following acts would not get an insurance producer terminated "for cause"? A Restriction of authority Missouri Statutes, Rules, and Regulations common to all lines *revised What describes the tax advantage of a qualified retirement plan? An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. [Show More] ual Depreciation x Number of years used) Acreage Reporting Date - The deadline for providing the insurer with an acreage report, which is used to determine the amount of . A Defamation Figure out how many vegetables to plantEver wonder how many vegetable plants to buy when youre planning your garden? On its advertisement, a company claims that it has funds in its possession that are, in fact, not available for the payment of losses or claims. Which of the following best describes this practice?