A person required to be licensed under the laws of the state to sell, solicit, or negotiate insurance is known as. Attorney General. -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. Beneficiaries do not have to have an insurable interest in the policyholder. D 2 years. You dont have to worry about it anymore. What can they do? An Insurer wants to begin underwriting procedures for an applicant. How do you get to Motion settings on iPhone? A domestic insurer issuing variable contracts must establish one or more.. 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? E The spouse of a deceased insurance producer. Whether an insurable interest exists between the individuals, An underwriter may obtain information on an applicant's hobbies, financial status, and habits by ordering a(n). The premiums paid by the employer in a business life insurance policy are All of the following are true of a key person insurance.. What is the advantage of reinstating a policy instead of applying for a new one? B$1,000 A Defamation An insurer devises in a determination strategy in order to quarter a large portion of the insurance market. B Twisting. Term used to name the no taxes return of unused premiums? D. A salaried employee who advertises and solicits insurance. Search for an answer or ask Weegy. B Insurer financial requirements. Playing your favorite game, Roblox, on Chromebook is quite achievable, but many users are only familiar with the Play Store method. 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. Cradle. In this state, a temporary license may be issued for any of the following reasons EXCEPT. B 3 days B Unfair claim practice. 20/3 The automatic premium loan provision is activated at the end of the What premium payment mode will incur the lowest overall payment? C Controlled business. They want to start a program through their practice that will provide retirement benefits for themselves and three employees. B 90 days All of the following would be considered to be rebating EXCEPT. 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 What would be the face amount of the new term policy? What information will be stated in the consideration clause of a life insurance policy? D 120 days. The can be changed only with the written consent of that beneficiary. Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as D Coercion. This pays 2 or 3 times the face amount if death is the result of an accident as defined in the policy and occurs within 90 days of such an accident. When an employee terminates coverage under group insurance policy, coverage continues in force for how long? This is a personal use of life insurance known as.. In decreasing policies, while the face amount decreases, the premium remains constant throughout the life of the contracts. A. the spouse or legal representative of a deceased insurance producer If a beneficiary wants a guarantee that benefits paid from principal and interest would be paid for a period of 10 years before being exhausted, what settlement option should the beneficiary select? 180 days. D An offer of employment. Why would removing a trade restriction, such as a tariff, lead to more rapid economic growth? A person does not require an insurance producer license if he or she only advertises without intent to solicit insurance. Children's rider are term insurance covering all of the children in the family, including: What explains the policyowner's right to change beneficiaries, choose options, and receive proceeds of a policy? An applicant for a counselor's license must possess a reasonable understanding of the provisions, terms, and conditions of the type of insurance he/she wishes to counsel, as well as a reasonable understanding of the Michigan insurance code and possess a good business reputation and good moral character. B What describes the tax advantage of a qualified retirement plan? The death protection component of Universal Life Insurance is always.. A return of Premium term life policy is written as what type of term coverage? launchpad classlink nmusd; cantonese text to speech; 15 second tv commercial script examples In this situation, a licensee would have to apply for a resident's license within 90 days. The agent is guilty of A Concealment. What best describes this practice? User: 3/4 16/9 Weegy: 3/4 ? D Other than the 3 hours of ethics, licensees may take courses in any line. Formula: (Ann . D Felony. And insured has a modified endowment contract. B Illegal The least expensive first year premium payment is found in.. What determines the cash value of a variable life policy? What is true regarding taxation of accelerated benefits under life insurance policy? Under the fixed-period option, a specified period of years is selected, and equal installments are paid to the recipient. D Legal, provided that the information can be verified. What are examples of a business use of life insurance? And employee is insured under her employers group life plan. The cinema hall is to far from my house.Ans: The cinema hall is too far from my house.(3). The policyowner should have her husband named as the.. A couple owns a life insurance policy with a Children's Term rider. An insured purchased an insurance policy 5 years ago. 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. 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? The policyowner of an adjustable life policy wants to increase the death benefit. 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. What settlement option should the policyowner choose? This is considered to be an unfair claim settlement practice 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. The purpose of the Tennessee Guaranty Association is to. D Stop action order. Rebating can be anything of . Added 30 days ago|10/30/2021 2:46:29 PM. The regulation of the insurance industry primarily rest with. there is no provision in the insurance code that allows for a temporary licensed to be issued on behalf of a producer. 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? A temporary insurance license maybe issued without examination and all of the following: A candidate for an accident and health producer's license must complete how many hours of prelicensing education? Age After 5 years, she decides to leave the company and work independently. The protocol for replacement does not apply to which of the following situations? 3. D Business Entity. D$2,000. What is this called? C Two letters of recommendation attesting to trustworthiness, reliability, and good reputation Charge a level annual premium throughout the insured's lifetime and provide a level, guaranteed death benefit. A Assigning different risk classifications to applicants based on gender identity D. Sexual orientation. D False advertising. Each of the following statements may (or may not) describe one of these technical terms. Company Information; FAQ; Stone Materials. If she terminates her group coverage, what is true? D From what type of insurer did the insured purchase the policy? Chinese Granite; Imported Granite; Chinese Marble; Imported Marble; China Slate & Sandstone; Quartz stone All of the following actions are considered rebating EXCEPT sharing commissions with other licensed and appointed agents refunding part of the premium as an inducement for purchase offering special dividends offering anything of value not specified in the policy A sharing commissions with other licensed and appointed agents 18 Q C Mutual Company D Collecting a lower premium than what's specified in a policy as a token of client appreciation. B 30 Life insurance cost indexes are our only useful when comparing a minimum of how many similar policies? When would a misrepresentation on the insurance application be considered fraud? D A termination issued by the appointing insurer. B - In order to collect premiums and explain coverages, a person would need to be licensed. The policy contains the optional Payor Benefit rider. A man decided to purchase a $100,000 Annually Renewable Term Life Policy to provide additional protection until his children finished college. A Restriction of authority Which of the following would be required to be licensed as an insurance producer? He wants to withdraw some money in order to pay medical bills. An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. Replace the underlined word with the correct form, How do you play Roblox on a Chromebook without downloading it. All of the following concerning a non-contributory group plan is true: What is an IRS qualified retirement program for the self-employed? NAIC. A$500 The accelerated benefits provision for an early payment of the death benefit when the insured.. An insured purchased a 15-year level term life insurance policy with a face amount of $100,000. Insurers are also not allowed to cancel individual coverage due to a change in marital status. If an insurer terminates a producer, the Commissioner must be notified. D False advertising. To combat the Where is heavy cream in Walmart? Until now, she has collected a nontaxable dividend check each year. Circulating deceptive sales material to the public is what type of Unfair Trade Practice? A Giving an applicant a $5 pen with the insurer's logo during the insurance application process It is illegal to participate in any boycott, coercion, or intimidation that is intended to restrict fair trade or create a monopoly. 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. Which of the following terms best describes the advertisement? Published by at June 10, 2022. 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? There are just too many details and specifications which you must be certain of when looking for one. = 2 1/4. A banker is ready to close on a customer's loan. The requirement that an agent not co-mingle insurance monies with their own fund is known as? B False advertising. The Commissioner may waive prelicensing requirements or examinations for someone who has been a licensed insurance producer Cradle. Ultimately, the commissioner determined that there were a total of 25 separate violations. What happens to the premium on the children's rider in a life insurance policy? The integer 4 is considered all of the following except a variable. B Nothing, unless the remarks were in writing 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. If an insured withdraws a portion of the death benefit by the use of this rider, the benefit payable at death will be reduced by that amount plus.. Michigan's continuing education requirement consists of completing 24 hours of CE each biennium, with at least 3 of those hours in Ethics. The first three, Straight life, limited payment, and single premium, are the basic forms of whole life. Annuities can also be used to.. Which of the following best describes this act? The integer 4 is considered all of the following except _____. What dividend option could she use? 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? What is the purpose of a free-look period in insurance policies? An insured will be allowed to reactivate her lapsed life insurance policy if action is taken within a certain period of time, and proof of insurability is provided. The designee of a producer that is called to active service with the Navy. A 60 days If an insurer terminates a producer, the Commissioner will receive a notification. 30 days. Which is NOT required of an applicant for an insurance license in Michigan? How many days does the insurer have to deliver this notice? Which of the following would be considered an illegal inducement to purchase insurance? 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 A 30 days 1 to 50. An insured had a continuous premium whole life policy. Issuing or circulating any sales material that is false or misleading would be considered misrepresentation and is illegal. What option does this describe? An insured owns a life insurance policy. An agent offers to share his commission with a policyholder. Which of the following is not a standard mounting dimension for an electric motor? What are the classifications of net assets reported in the statement of financial position by private colleges? They could be sold for an amount greater than the current cash value, they involve insurance policies with large face amounts, they could be use for a key person coverage. ________________ are owned and controlled by their policyholders. What is the minimum required age for an insurance producer in this state? A policy will pay the death benefit if the insured dies during the 30-year premium-paying period, and nothing if death occurs after the 20-year period. An insured committed suicide 6 months after his life insurance policy was issued. File an application with the Director b. Asked 11/28/2019 3:15:17 PM. A$500 Purest form of term insurance; death benefit remains level, but the premium increases each year with the insured's attained age. B A new Commissioner or Director is put into office. The policy contained an accidental death rider, offering a double indemnity benefit. What are the two components of a universal policy? Permitting individuals of the same class to be charged a different rate for the same insurance is the unfair trade practice of discrimination. [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 . 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? This year, she did not receive a check fin from the insurer. Which policy provision allows this? The insured had his wife named as the beneficiary of his life insurance policy. Which of the following persons is required to hold a producer license? Within how many days of requesting an investigative consumer report must an insurer notify the consumer in writing that the report will be obtained? The payments that that annuitant invests into the variable annuity are invested in the insurer's separated account. Synonym for a substandard risk classification. When the policyowner specifies dollar amount in which installments are to be paid, he/she has chosen which settlement option? Which of the following individuals could qualify for a temporary insurance license? 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. A Provide opinions concerning benefits, coverage, terms, and advantages and disadvantages of a policy or annuity What is the purpose of a disclosure statement in life insurance policies? What does this mean? Asked 10/30/2021 2:23:39 PM. M may perform all of the following duties EXCEPT. B Discriminating in benefits and coverages based on the insured's habits and lifestyle False financial statements are made when insurance companies attempt to hide their financial troubles from the public and government officials. All of the following actions can be described as twisting EXCEPT. An individual who willfully violates this Act enough to constitute a general pattern or business practice will be subject to a penalty of up to. Insureds who have been classified as preferred risk will On a participating insurance policy issued by a mutual insurance company, dividends paid to policyholders are. A cease and desist order requires an individual to stop doing a specific activity that the Commissioner believes to be violating the Insurance Code. D Misrepresentation. 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. An individual has been diagnosed with Alzheimer's disease. In this situation, the Commissioner must be notified within 30 days. If an insured surrenders his life insurance policy, what is true regarding the cash value of the policy? 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?
Desmopressin Iv To Po Conversion,
Large Rifle Primer Heat Chart,
Como Poner La Barra Diagonal En El Teclado,
Articles A