C. Waiver of Estoppel Fraud 3)substandard-highest, 6 factors that are complete for policy 2 be paid? Pertaining to insurance, what is the definition of a fiduciary responsibility? The total of all requisitions of direct materials issued during the month is $252,230.00. CPI (consumer price index) without evidence. (a) universal life insurance. c. thoughts of harming a neighbor All of the following are types of insurers except: The ________ Branch of the state government influences public policy regarding insurance laws. *Both not taxable. CashJul1Jul315,500???? If you don't have health insurance, you pay all costs for healthcare and medical emergencies.
Value-added tax - Wikipedia Which kind of agent enters into agreements with more than one insurer? 1)tax qualified plans
Conviction of a felony involving moral turpitude. All of the following statements are correct about policy loan interest rates EXCEPT: (A) an insurance company can charge a fixed rate of interest up to a maximum of 10%, with some restrictions (B) an adjustable interest rate can be used if the insurance company follows a national corporate bond index (C) an adjustable interest rate can be used if the limit is based on the average monthly . Which of the following is an example of an unfair claims settlement practice? The demand forecast for a particular night is 130 rentals in the Super Saver class, 60 rentals in the Deluxe class, and 50 rentals in the Business class. There is no limitation on the number of key employee plans in force at any one time. 2) profits are returned as dividends
All of the following statements about the settlement of a claim are true EXCEPT. Which $50,000 life insurance contract if purchased when the insured was 32, would have the highest cash value when the insured is 50? B. D) adding cost of living coverage. . See Page 1. IN WHITE RAIMENT. Correct: A. \text{ ???? } a) Consumer Privacy Act
Solved 55. All of the following statements regarding | Chegg.com Foreign. Total personal income in the United States (in billions of dollars) for selected years from 1960 to 2009 is given in the following table. The total of all requisitions of indirect materials issued during the month is$20,170.00. Contract or form of ownership is a ______________?
3)substandard risk. D) When replacement is involved, a producer must perform the following duties: sign replacement notice (and keep a copy), provide a list of items being replaced, leave all brochures/sales material used in the sale, take new application, submit "Copy to Replacement" notice, and it attach to application. Which of the following statements about endowment policies is true? -Voting. Despite this, the country has significantly worse healthcare outcomes when compared to peer nations. a. whole life paid at 65 ADD( Accidental death and dismemberment??? Which of the following is NOT an example of a business use of Life Insurance? \end{array} \\ B) Underwriters. d) Primary and secondary beneficiary designations. What are two reasons that people deposit money in banks? B. S buys a $10,000 Whole Life policy in 2003 and pays an annual premium of $100.
Chapter 3 part 1 Flashcards | Quizlet Annually renewable term policies provide a level death benefit for a premium that Can a misrepresentation render the contract void if the misrepresentation is material to the risk? All of the following statements about universal life insurance are true EXCEPT Any withdrawal of a policy's cash value reduces the amount of the death benefit.
Chapter 1- General Insurance Flashcards | Quizlet What else must he include? c) Helping insureds to file claims Some life insurance policies offer cash values that can be borrowed at any time and used for immediate needs. 3)defined benefit plans
Which of the following about decreasing term insurance is true? a) Material change A) loss reserves 2. With a little work, an unused office area could be converted to a rental room. When an agent collects the initial premium from the applicant, the agent should issue the applicant a. 1) Competent Parties
As her friend, you have been asked to review the income statement and make necessary corrections. The insurer's promise to pay a covered loss and the insured's payment of the first premium, are examples of: A. When the producer exceeds the authority expressed in the agency contract and the insurer does not take action, which type of authority is created? Which is generally true regarding insureds who have been classified as preferred risks? Use the indirect method. (a) present value of future benefits and the present value of future premiums. A mutual insurance company does not have what? c) Policy loans are taxable distributions. cheating. The Aspect of the Dragons is obtained by defeating any Ender Dragon in the Dragon's Nest (except Superior) located at the bottom of The End. Compute DVDs net cash provided by (used for) operating activities during July. B. Buy-Sell Agreements pay in the event of a medical emergency See Answer. If contract is up after 20 years & policy holder wishes 2 renew what occurs every year? The penalty is 50% of the shortfall from the required annual amount. B. Avoidance Each withdrawal, however, is usually charged, and the amount and frequency of withdrawals are usually limited. A. When a replacement is involved, a replacing insurance company is responsible for all of the following EXCEPT: Provide a copy of the Important Notice Regarding Replacement of Life Insurance to the applicant. Upon policy delivery, the producer may be required to obtain any of the following EXCEPT The County is administered by a five-member Board of Supervisors who are elected for four-year terms 1)Level
The failure to disclose known facts is what? C. Whole life What adds coverage and modifies coverage?
Healthcare in the United States - Wikipedia Appoint a solicitor as his or her representative When does the grace period begin and how long is it? Waive the premium if the INSURED becomes totally disabled. Conditional contract means the policy holder does what? B. Insureds current and future income A) Any distributions from MECs are taxable, including withdrawals and policy loans. If someone dies within the Grace period, what happens? Estimated direct labor costs for next year are$440,000.00. The debtor does not have an insurable interest in the life of the lender. All of the following statements concerning coinsurance are true, EXCEPT . D. Premiums paid are deductible as a business expense. DepreciationExpense-FactoryEquipmentDepreciationExpense-BuildingHeat,Light,andPowerExpenseInsuranceExpense-Factory$5,770.242,822.409,055.201,505.28MiscellaneousExpense-FactoryPayrollTaxesExpense-FactoryPropertyTaxExpense-FactorySuppliesExpense-Factory$13,780.4843,736.006,088.3218,063.36. D. The policy is a bilateral contract Rates are considered inadequate when they do not cover projected losses and expenses. 3)mortality charge. Because the insurance company must pay claims and the insured must comply with the policy terms, the insurance contract is considered which of the following types of contracts? \hline (\$ 000) & 1 & 2 & 3 & 4 \\ Social Security is designed to provide a base of economic security B. Cash value is the same as ___________ when the policy matures. \end{array} a) Accepted accounting principal. Conditional Contract d) Loss. The minimum FREE LOOK period is how many days? What limitations might this model have for predicting consumer's attitudes and purchase behavior towards Cream Silk?
Six Reasons the Loss is Excluded - MyNewMarkets.com Retention, Avoidance, and Transfer are all _________________. A. a) Tax-qualified An Insurer organized in another state than the state in which it is authorized to do business is known as which type of insurer? d) All of the above. c) Variable Premium The cash value of availability to the policyowner Non-Participating (stock) Life Insurance Policy. A. b) Hazard -marriage
C) An insurance contract must contain a copy of the original application. Empire Company is a manufacturer of smart phones. c) Guides describing company financial integrity Due to climate change, premiums are going up for certain types of insurance, such as flood insurance. 2. C. Risk Cause of potential loss to property such as fire, windstorm, hail, flood, etc. \hline && \text { Jul 31 } & 111,000 An agent that enters into agreements with more than one insurer is called an: A _______ represents the insured in dealing with insurance companies. C) They must contain a warning that actual results may vary. a) Withdrawals are not taxable. Whats the cheapest type of permanent insurance? d. 10 payment whole life, Chapter 12 - Life Insurance Contractual Provi, Chapter 15 - Individual Health Insurance Cove, Fundamentals of Financial Management, Concise Edition, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. B. Marital Status c) Extended term All of the following are common characteristics of this coverage EXCEPT (c) Interest credited to a policy's cash value is taxable to the policyowner in the year credited. (b) Cash value accumulation is slow to moderate. B. When the company earns a profit and elects to share there profits, they pay a ____________to the policyholders or shareholders. There is a minimum guaranteed interest rate on all sub-accounts. The agent
An insurer or producer may NOT knowingly employ an individual to act in a fiduciary capacity if that individual has been convicted of a felony or crime of moral turpitude within the past These individuals qualify for lower premiums than those in the other categories. a sheet where the agent lists any additional info about insured including: habits,financial status, or anything that may be important for the underwriting department to determine the risk involved. d. The total of all cost sheets completed during the month is $628,880.00. 1) mentally incompetent persons
Coverage is available in $50,000 increments up to the maximum of $400,000. Why?". c) 10 years. All The statements made on the application are called ______? ~~~\text{Selling and administrative salaries}&75,000\\ A key person insurance policy can pay for which of the following? The money in a savings account C. Premiums are tax deductible by the key employee The applicants(policy owner)
\end{aligned} c) 15% for early withdrawal An insured is driving her automobile and strikes a large pothole that . Which of the following is the basis for a claim against an insurance policy? ____________ is a statement that is true to the best of the persons knowledge that is making the statement. James purchased yearly renewable term insurance. -the applicant must always initial the change
(c) They decrease at a constant rate. A. a) Executive offer of the replacing company and is NOT a party to the contract.
saalt menstrual disc how to use - evcc-estheticstraining.com b) Coverage ends and the policy cannot be reinstated. ~~~\text{Indirect labor cost}&28,000\\
Group Life Insurance Flashcards | Chegg.com \hline \text { Jul 1 } & 5,500 &&\\ B. IRS has no jurisdiction Insurance is designed to cover both intentional and unintentional losses. Which of the families below is likely to have the least need for a large life insurance policy? d. It does not require a duty to be owed. \text{Inventory} & 201 & 505 & 905 & 52 \\ WorkinProcess$229,040.00EmployeeIncomeTaxPayable$33,880.00FactoryOverhead78,960.00SocialSecurityTaxPayable19,096.00Cash250,558.00MedicareTaxPayable4,466.00\begin{array}{lrlr}\text { Work in Process } & \$ 229,040.00 & \text { Employee Income Tax Payable } & \$ 33,880.00 \\ \text { Factory Overhead } & 78,960.00 & \text { Social Security Tax Payable } & 19,096.00 \\ \text { Cash } & 250,558.00 & \text { Medicare Tax Payable } & 4,466.00\end{array} According to the entire contract provision, what document must be made part of the insurance policy? d) Making claims payments which clearly indicate under which coverage payment has been made. \\ This is called. D. Breach of warranty For example, a claim will be paid only is there has been a covered loss. Beneficiary's age &\begin{array}{lr|rr} Something of value is a __________________. All of the following are true for indemnity insurance except that: a. premiums are based on separate risk pools often organized by employers. The benefit is subject to the exclusionary rule C. group credit life insurance does not build cash values. M327. Most agents try to collect the initial premium for submission with the application. I. An agent tells an insured that if he replaces his current insurance policy with a newer one, his dividends will be higher and his premium will be slightly lower. Hospital bills of the key employee After Alex has made 20 premium payments, his life insurance policy is considered It is the specific cause of loss. b. persistent fear of germs There is no limitation on the number of key employee plans in force at any one time B. B. What is the term for a cause of loss, such as the theft of a car? \text{Net loss}&&\underline{\underline{\$(23,000)}}\\ \hline && \text { Jul 1 } & 65,000 \\ don't pick binding receipt at all on test. (1), In Universal life, what options can the policy owner have with the premium payments to do? The remaining amounts should be charged to selling and administrative activities. Concerning insurance, the definition of a fiduciary is The Waiver of Cost of Insurance rider is found in what type of insurance? C. Funding business continuation agreements when the company earns a profit and elects to share these profits, they pay a dividend to the policyholders or shareholders. 1)cont. a) Aleatory 2)when benefits begin
1 / 25. 25,500, AccountspayableJul114,500???? Weiss and Fitch are two of these services, although there are more. This type of life insurance is called (d) The policyowner can add to a policy's cash value at any time subject to policy guidelines. Be prepared to justify your answer. Involuntary Risk 2)interest sensitive
a) Juvenile Life When the agent delivers the policy, collects the initial premium, and the applicant completes and acceptable statement of good health D. Agents report. The US is the only developed nation without a system of universal healthcare, with a large proportion of its population not carrying health insurance, a . Its controller resigned in October 2017. 4)Consumer report=credit, -shorter time span for paying premiums
The correct answer is: The premium decreases to zero by the end of the policy period. c) Needs approach 2)Procures insurance 4 itself from another insurer, The tax benefit of annuities is tax deferred growth. 2)Variable annuity
Represent the insured's interest, Insurance Licensing - Chapter 2: Property Bas, Chapter 9- Commercial General Liability Cover, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Fundamentals of Financial Management, Concise Edition, Daniel F Viele, David H Marshall, Wayne W McManus, CompTIA A+ Certification Exam Prep - Chapter. Rates. Misappropriation or illegal withholding of the policyholder's money. -A Mec will receive unfavorable tax treatment
Waiver of premium is a rider that can be added to a life insurance policy, and not something to be obtained from the applicant. Attempting to determine how much insurance an individual would require based upon their finacial objectives is known as. B. Nonadmitted A ____ contract requires that both parties perform certain duties. For this amount of production, total factory overhead is estimated to be $396,000.00. Which of the following is a financial rating service? B. One sided contract is a ______________ contract. A conditional or binding receipt is given when an applicant does what?
[Solved] All of the following are true of insurance EXCEPT It transfers D. Concealment \text { Type II } & \$ 20 & \$ 30 & \$ 40 has reached its final destination and can be paid out in full. b) The elderly C. Tax Status
Alex, age 26, purchased a 20- payment whole life insurance policy. b. The primary purpose of buying an annuity is? On DUE DATE. (b) Prepare a correct income statement for October 2017. c) Conditional Correct: C. Unilateral contract. What characteristic must an annuity have if it is used to accumulate funds in an IRA? B. -Not a true insurance company
3) Ordinary.
6/1 Quiz: Group Life Insurance Flashcards | Quizlet When a New York insurance agent or broker advertises services, he/she must list the full name of the insurer and the name of the city, town, or village that houses the principal office.
Life Insurance Flashcards - Cram.com -paying for certain time and stop. -sex doesn't determine eligibility. What is the primary source of info for the underwriting department to determine insurability? 3)semi-annual
b. Correct: C. Consideration. Hammond estimates that it will manufacture 5,000 televisions next year. (Choose from the following options) a. What are (4) characteristics of permanent insurance? Eight Summoning Eyes need to be placed to summon the Ender Dragon and players need to have 450 Dragon Weight to have a chance of getting the sword. There are 2 parties of the contract- what are they? A life insurance policy is exchanged for an annuity. Round Tree has 100 Type I rooms and 120 Type II rooms. A contract between insurer and policy holder. Breach of warranty D. A surplus lines broker deals with admitted carriers only 3. The 3 categories of private insurers site of incorporation? Type I rooms do not have wireless Internet access and are not available for the Business rental class. Which of the following is TRUE regarding assignment rights for . b) Adjustable life 4)policy matures at age 100. When applicant is not the insured ______________ must exist. - 20 pay life-premiums paid for 20 years and paid up at 65
Explanation: (Life Insurance Policy Provisions, Options and Riders) A family term rider will provide term life insurance on a spouse and children. All of the following are characteristics of group life insurance EXCEPT. An IRA uses immediate annuities to pay out benefits; the IRA owner is nearly 75 years old when he decides to collect distributions. What are the permanent working capital needs of your company? Suitability D. The face amount remains the same throughout the life of the policy. Which of the following is NOT a fraudulent and intentional deception of the truth? The shifting of risk of loss to a larger homogeneous group is known as what? An__________ represents the insurer. B. -The insurance dept. database of previously life and health insurance applications. d) The Medical Information Bureau. Round Trees management makes a forecast of the demand by rental class for each night in the future. The following are all true regarding risk management, except: A. The applicant's medical background is addressed in Part 2 - Medical Information. a. mentally counting backward from 1,0001,0001,000 (Choose from the following options) a) Remains level. A FINRA registration.
Free Standardized Tests Flashcards about Health&Life - StudyStack When a policy has reached its final destination and can be paid out in full is when the policy has ____________? Insurance is designed to provide protection against which of the following? A debtor has an insurable interest in the life of a lender. d) Accumulations are tax deferred. d) Older. Whole life policy. All of the following are personal uses of life insurance EXCEPT, All of the following are true of key person insurance except, D. The plan is funded by permanent insurance only. (c) The number of times the coverage can be renewed is limited. Long-term investment decision, payback method Bill Williams has the opportunity to invest in project A that costs $9,000 today and promises to pay annual end-ofyear payments of$2,200, $2,500,$2,500, $2,000, and$1,800 over the next 5 years. 1. I. good health
The issuance of a _________ is the result of the acceptance of an offer. A surplus lines broker places risk with nonadmitted insurers when coverage cannot be placed with admitted insurer carriers The following information is taken from the records of Hammond on November 30 of the current year. Which of the following is an example of liquidity in a life insurance contract? Does not pay dividends to policyowners; however, taxable dividends are paid to stockholder. The correct answer is: Premiums are typically paid by the lender. Tom and Nancy Boyle provide financial support for their two children. D. A surplus lines broker places risks with nonadmitted insurers when coverage cannot be placed with admitted insurer carriers B) Once the cash surrender value option is selected, the coverage is terminated and the policy cannot be reinstated. B. Height Weight and Health conditions. Who is responsible for making sure the application is completed properly and all necessary info is obtained? The __________ branch of the state government influences public policy regarding insurance laws. The policy is a conditional contract 2)the face amount
Under Section I, homeowners insurance must include C. Unilateral contract 4)settlement options, 1)stand alone policy
Universal Life is also known as two things what are they? Companies may have immediate legal obligations following the inclusion of a substance in the Candidate List on this website including in particular Articles 7, 31 and 33 of the REACH Regulation. ~~~\text{Depreciation on factory equipment}&31,000\\ C. State Education Waiver Accumulateddepr.-equipmentJul1DeprJul3155,0003,00058,000, RetainedEarningsJul165,000Dividend19,000NetInc65,000Jul31111,000\begin{aligned} Policy Holders/Shareholders have the ability to vote for members of the board of directors or governing body of the company.. this is called their____________? The 7 paytest is used to determine if a policy is a _______? 21,000 \\ C. Medical Background The Human Life Value Approach to determining the value of an individual's life requires the calculation of probable future earnings of the insured, which involves wages, expenses, inflation, amount of time until retirement, and the time value of money. b. (b) Cash value accumulation is slow to moderate. 4. -Follows all conditions of contract & pays premium, -insurer says how policy works
The storage of flammables in a fireproof container. Is interest always gained in Universal Life Policy? Each policy pays a percentage of the loss based on the percentage of coverage that policy provides. Are insurance company underwriters allowed to discriminate? (d) paid-up. A. signed waiver of premium An Insurance Broker is responsible for what? a) Universal life b. 1) a policyholder votes on the Board of Directors
3)2 death benefit option
\hline Which of the following would provide an underwriter with information concerning an applicant's health history? This method of estimating . Term. \text { Type I } & \$ 30 & \$ 35 & - \\ Home Office- what do the underwriters do. they evaluate 4 things- what are they(4)??? 1) coverage is permanent
5th Sunday after Epiphany Saint Barnabas | By Saint Barnabas Episcopal