baja fresh queso recipe; Tags . What option does this describe? 45 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. Commissioner. The insurer has 15 days to file a notice of producer appointment. User: 3/4 16/9 Weegy: 3/4 ? Shopping for electric motors can be tricky. What is the total, monetary penalty this producer can expect to receive? The policy contains the optional Payor Benefit rider. 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. Free Shipping on all orders | We're roasting your coffee right now how to detach from a codependent mother (+91)8050038874 george johnston biography [email protected] Under the fixed-period option, a specified period of years is selected, and equal installments are paid to the recipient. A In the preceding 12 months. Employer contributions made to a qualified plan.. Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as a constant a term a variable an expression. An agent offers to share his commission with a policyholder. When a whole life policy lapses or is surrendered prior to maturity, the cash value can be use to.. B 7 days B Materially misrepresents an insurance policy. An agent who deliberately makes a malicious statement about another insurance company is guilty of an illegal trade practice called. What would be the right policy for this client? B Discriminating in benefits and coverages based on the insured's habits and lifestyle Rebating is defined as any inducement offered to the insured in the sale of insurance products that is not specified in the policy. D An offer of employment. D Who is the main purpose of the seven-pay test? A Restriction of authority 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? When an insurer's underwriter approves coverage and issues a policy. This rider will not cause the death benefit to increase. The payments that that annuitant invests into the variable annuity are invested in the insurer's separated account. From what type of insurer did the insured purchase the policy? The integer 4 is considered all of the following except a variable. 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. What type of life insurance policy would be best suited to this situation? What source will it consult for the majority of its underwriting information? Added 149 days ago|10/30/2021 2:46:29 PM. Within how many days of this notification must the producer be sent a copy? How could she obtain an individual policy? Any surplus money is returned to the policyholders as dividends. 180 days. He dies in a freak accident on June 1. When a life insurance policy is cancelled and the insured has selected the extended term nonforfeiture option, the cash value will be used to purchase term insurance that has a face amount. C Twisting. A 30 days To ensure that his wife had income for life after the insured's death, he chose the life income settlement option. 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? They want to start a program through their practice that will provide retirement benefits for themselves and three employees. The soon-to-be producer does not want to wait until he receives his license in order to begin working. 3. Which of the following is NOT a pathway in the oxidation of glucose. What type of annuity is it? A Cannot be extended or waived under any circumstances. The company is guilty of D Slandering. An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. Which type of life insurance policy generates immediate cash value? What is not an example of a business use of life insurance? The designee of a producer that is called to active service with the Navy. In Michigan the state's continuing education requirement C [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 . In a direct rollover, how is the money transferred from one plan to the new one? B Sending a $20 gift certificate to the insured's employee after the insurance has been effected as a thank you for the referral Confirming future dividends in a life insurance proposal An insurer devises in a determination strategy in order to quarter a large portion of the insurance market. A 60 days What type of license should the producer obtain? What is the advantage of reinstating a policy instead of applying for a new one? juan holds ________ power. E The spouse of a deceased insurance producer. I no the truth.Ans: I know the truth.(2). C Listing the insurance companies the agency represents in a letter D$5. 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 a licensee fails to earn 24 hours of CE by the required review date, the license will be suspended for up to 90 days. all of the following would be considered rebating except. A Defamation "At the time of the application" is when interest must exist. Which of the following, upon conviction, carries a fine of up to $2,000 for each violation? Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as. Which insurance arrangement will be appropriate for a parent buying a life insurance policy on a child where the parent is the policyowner? B Twisting D.the spouse of a retiring insurance producer Autotrophs (like plants) produce glucose during photosynthesis. What are examples of a business use of life insurance? How many days does the insurer have to deliver this notice? What type of policy does the insured most likely have? 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? The paid-up addition option uses the dividend to.. What life insurance settlement option guarantees payments for the lifetime of the recipient, but also specifies a guaranteed period, during which, if the original recipient dies, the payments will continue to a designated beneficiary? 60. A Unfair claims Permitting individuals of the same class to be charged a different rate for the same insurance is the unfair trade practice of discrimination. The cinema hall is to far from my house.Ans: The cinema hall is too far from my house.(3). Because of this, the company charged him a higher rate for his insurance. Log in for more information. It would be considered unfair discrimination to ask an insurance applicant about which of the following and then use that information as a rating factor to determine insurability? An agent's license may also be suspended or revoked. D 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. Describe the relationship between potential difference and electrical potential energy. Employees must receive a minimum of $5,000 in annual compensation, no other qualified plan can be used, no more than 100 employees. Only any excess of value is taxable as income. C Charging applicants with similar health histories different premiums based on their ethnicity 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. 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 The policyowner of an adjustable life policy wants to increase the death benefit. 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. B An offer to share in commissions generated by the sale. All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT If an insured surrenders his life insurance policy, which statement is true regarding the cash value of the policy? B False advertising. Rating. -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. The insured had his wife named as the beneficiary of his life insurance policy. Question. A Defamation The Insurance Department regulations are to protect the insurance-buying public. D. Commissioner. In a life settlement contract, whom does the life settlement broker represent? D 2 years. What is true regarding a non-qualified retirement plan? A 15 Why would removing a trade restriction, such as a tariff, lead to more rapid economic growth? And insurance producer may not act as an agent for an insurer unless he/she has become which of the following?? in order to reinstate a life insurance policy the insured must do all of the following except: pay next year's premium in advance. ResponsibilitymarginContributionmarginPerformancemarginTransferpriceCost-plustransferpriceProductcostsCommonfixedcostsTraceablefixedcostsCommittedfixedcosts. This year, she did not receive a check fin from the insurer. Telling a client that his first premium will be waived if he purchases the insurance policy today. She would likely purchase a(n)? Whole life policies offer level premium based on the issue age, guaranteed, level death benefit, cash value that is scheduled to equal the face amount at the insured's age 100, and living benefits, which include policy loans. Both the offer and acceptance of a rebate are illegal. B$1,000 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. An out-of-state producer wants to start selling insurance in this state. If an insurer terminates a producer, the Commissioner will receive a notification. D The passing of a written examination. Circulating deceptive sales material to the public is what type of Unfair Trade Practice? To appoint a producer as it's agent, the appointing insurer must file a notice of appointment with the commissioner within how many days from the date the agency contract is executed? D$2,000. What option would allow her to do this? What determines the amount of each installment paid in a life income option arrangement? 30 days. What option for Universal Life allows the beneficiary to collect both the death benefit and cash value upon the death of the insured? 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. C Defamation. 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. C Two letters of recommendation attesting to trustworthiness, reliability, and good reputation If she decides to roll over her plan to a traditional IRA, how much will she receive from the plan administrator and how long does she have to complete the tax free-roll over? What is true of the cash surrender nonforfeiture option? She also wished to retain all of the rights of ownership. What is the required percentage of participants in a contributory group plan? The policyowner is entitled to policy loans. The regulation of the insurance industry primarily rest with. Dividends paid to policyholders of a mutual insurer are not considered to be a rebate because the policy specifies that they might be paid. The insured applies this year's $300 worth of accumulated dividends to the next year's' premium, thus reducing it to $900. A father purchases a life insurance policy on his teenage daughter and adds the Payor benefit rider. Eligibility requirements for a license are established by the Insurance Code. What does this mean to the beneficiaries? Commissions are set by a schedule or negotiation between the producer and the insurance company. 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? C A straight life policy has what type of premium? c) An offer of employment. The president of a company is starting an annuity and decides that his corporation will be the annuitant. What type of insurance policy may be used to fund this agreement? An insured had a continuous premium whole life policy. Their daughter is reaching the maximum age of dependent coverage, so she will have to convert to permanent insurance in the near future. The following are nine technical accounting terms introduced or emphasized in this chapter: ResponsibilitymarginTransferpriceCommonfixedcostsContributionmarginCost-plustransferpriceTraceablefixedcostsPerformancemarginProductcostsCommittedfixedcosts\begin{array}{lll}\text { Responsibility margin } & \text { Transfer price } & \text { Common fixed costs } \\ \text { Contribution margin } & \text { Cost-plus transfer price } & \text { Traceable fixed costs } \\ \text { Performance margin } & \text { Product costs } & \text { Committed fixed costs }\end{array} B Stock Company When would a 20-pay whole life policy endow? C Defamation. 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. D And insured has a modified endowment contract. C Cease and desist order 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? In this case, what will the policy beneficiary receive? 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. In order to receive a commission, a person is required to How many accounts must to Tennessee life and health insurance Guaranty association maintain? What brand of castor oil is best for hair? D 10 days. The agent is guilty of A candidate for life insurance producer's license must complete how many hours of prelicensing education? The "owner" is the person who purchases the contract and has all of the rights such as naming the beneficiary and surrendering the annuity. C Dividends from a mutual insurer. D Any time in the past. An insured misstates her age at the time the life insurance application is taken. Annuities are most commonly used to fund a persons retirement, but they can technically be used to accumulate cash for any reason. Log in for more information. In this state, a temporary license may be issued for any of the following reasons EXCEPT. Added 30 days ago|10/30/2021 2:46:29 PM. During the underwriting process, the insurance company found no reason to reject the risk or classify it other than as standard. Corporation is the owner and beneficiary of the key person life policy. 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? All the following would be considered an unfair and deceptive practice. B Applies to life, annuity, and accident and health licensees only. C What can they do? C Dividends from a mutual insurer. Licensees who are currently licensed, and have recently become residents of the state of Michigan may not have to complete any prelicensing education. The main difference between immediate and deferred annuities is What does "level" refer to in level term insurance? The consideration clause states that the value offered by the insured is the premium and statements made in the application, so it will include the information about.. What is the minimum required age for an insurance producer in this state? Which of the following would be considered false advertising? The integer 4 is considered all of the following except _____. Taxation on dividends in participating policies? B. 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. Age M, who is not licensed as an insurance agent, works part-time in her father's insurance agency. Correct Answer: A. 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? 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 this state, what type of violation is rebating? If a policy includes a free-look period of at least 10 days, the Buyer's Guide must be delivered to the applicant What policy component decreases in decreasing term insurance? You dont have to worry about it anymore. Commissioner. He never remarried and dies at age 61, leaving 2 grown-up children. Whenever an individual stops drinking, the BAL will ________________. D. Sexual orientation. What is the name of the insured who enters into a viatical settlement. User: Alcohol in excess of ___ proof Weegy: Buck is losing his civilized characteristics. What is this called? When I just opened a new WSL2 Ubuntu 20.04 terminal and ran code . D Must be completed by all licensed resident and nonresident producers. C. An insurance company director who performs executive, administrative and managerial duties What will she need to provide for proof of insurability? A tax-sheltered annuity is a special tax-favored retirement plan available to. 15 = 2 1/4. When does the policy coverage become effective? In order to to do that, what may happen? The insured was severely injured in an auto accident, and after 10 weeks of hospitalization, died from the injuries. An investor buys a life insurance policy on an elderly person in order to sell it for a life settlement.. what is this an example of? D Up to 12 excess credit hours of CE may be carried over to the next review period. In which instance would the premium be tax deductible? A man decided to purchase a $100,000 Annually Renewable Term Life Policy to provide additional protection until his children finished college. This is a personal use of life insurance known as.. D Other than the 3 hours of ethics, licensees may take courses in any line. 1 to 75. Brokers and financial advisors are prohibited from accepting rebates since they may create conflicts of interest. B - In order to collect premiums and explain coverages, a person would need to be licensed. A A producer's license is suspended or revoked by the Department of Insurance. 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 What term best describes this arrangement? The least expensive first year premium payment is found in.. What determines the cash value of a variable life policy? Company Information; FAQ; Stone Materials. 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. Rebates include money, sharing of commissions, promises, inducements and personal services. The person or interest to whom the policy proceeds will be paid upon the death of the insured. Cradle. What statement is correct? If a resident insurance producer moves from Tennessee to another state, he/she must file a change of address and provide certification from the new resident state within how many days of the change of legal resident? Which of the following is an example of a producer being involved in an unfair trade practice of rebating? Rebates are allowed if it's in the best interest of the client. 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? D Surplus lines. Obtain appropriate signatures on the application for insurance, help prevent adverse selection, and solicit business that will fall within the insurer's underwriting guidelines. Published by at June 10, 2022. B What type of insurance policy would perform the function of cash accumulation?