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If the producer continues to violate the entrance code, I knew so penalty will be assessed every? A D Must be completed by all licensed resident and nonresident producers. This misstatement may result in? Which insurance arrangement will be appropriate for a parent buying a life insurance policy on a child where the parent is the policyowner? C Charging applicants with similar health histories different premiums based on their ethnicity What is the required percentage of participants in a contributory group plan? What is the clause that describes the method of paying the death benefit in the event that the insured and beneficiary are both killed in the same accident? D Felony. All of the following would be considered rebating except. Which policy component decreases in decreasing term insurance? D Engages in fraud. When the policyowner specifies dollar amount in which installments are to be paid, he/she has chosen which settlement option? D$2,000. Insurers are also not allowed to cancel individual coverage due to a change in marital status. Which of the following documents must be provided to the policyowner or applicant during policy replacement? 60 days. any person acting as an insurance producer without a valid license may be fined up to. The Weegy: A modal verb (also modal, modal auxiliary verb, modal auxiliary) is a type of auxiliary verb that is used to All of the following would be considered rebating except, Which of the following types of insurance policies is most commonly used in credit life insurance, In order to reinstate a life insurance policy the insured must do all of the following except. Nonforfeiture values guarantee which policyowner? The first three, Straight life, limited payment, and single premium, are the basic forms of whole life. Telling a client that his first premium will be waived if he purchases the insurance policy today. 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? C Solicit business as an insurance producer 10 czerwca 2022 . Each of the following statements may (or may not) describe one of these technical terms. a constant a term a variable an expression. Annuities are most commonly used to fund a persons retirement, but they can technically be used to accumulate cash for any reason. Ultimately, the commissioner determined that there were a total of 25 separate violations. New answers. In this case, the insurance company will Must be delivered along with the policy and will provide the producer's name & address, the insurance company's home office address, the generic name of the policy issued, and premium, cash value, surrender value & death benefit figures for specific policy years. An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. And employee has group life insurance through her employer. 30 days. Which of the following would be considered false advertising? The can be changed only with the written consent of that beneficiary. C A legal advertising strategy b) Rebating can be anything of economic value, given as an inducement to buy. Which of the following allows different operating systems to coexist on the same physical computer? What would be the face amount of the new term policy? Which of the following would NOT be considered rebating? Licensed in the state where the individual resides. If an insured surrenders his life insurance policy, what is true regarding the cash value of the policy? A Asked 10/30/2021 2:23:39 PM. Before the Director will issue a license, a person must meet all of the following qualifications EXCEPT a. A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. What type of annuity is it? Search for an answer or ask Weegy. E The spouse of a deceased insurance producer. D Legal, provided that the information can be verified. C Misrepresentation An insured had a continuous premium whole life policy. 1 Answer/Comment. What employee insured under a group life plan would be allowed to convert to individual insurance of the same coverage once the plan is terminated? Their daughter is reaching the maximum age of dependent coverage, so she will have to convert to permanent insurance in the near future. C Illegal under any circumstances Juan is the person employees go to when knowledge of a topic was needed. D If a life insurance policy develops cash no you faster than a seven-pay whole life contract, it is? C. An insurance company director who performs executive, administrative and managerial duties She also wished to retain all of the rights of ownership. An insurer publishes intimidating brochures that portray the insurer's competition as financially and professionally unstable. When an insurance agency published an advertising brochure, it emphasized the company's financial stability and sound business practices. A A good business reputation and good moral character. 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? B Illegal A Illegal until endorsed by the Guaranty Association Figure out how many vegetables to plantEver wonder how many vegetable plants to buy when youre planning your garden? This is considered to be false, deceptive or misleading advertising. Partners in a business enter into a buy-sell agreement to purchase life insurance, which states that should one of them die prematurely, the other would be financially able to buy the interest of the deceased partner. C Twisting There are several types of whole life polices. all of the following would be considered rebating except. The policyowner is entitled to policy loans. M may perform all of the following duties EXCEPT. Categories . there is no provision in the insurance code that allows for a temporary licensed to be issued on behalf of a producer. When a persons only options for a contract are on a take it or leave it basis; prepared only by the insurer. How could she obtain an individual policy? Which of the following acts would not get an insurance producer terminated "for cause"? In order for an insurer to legally transact insurance, it must obtain what? What relationship is not an example of insurable interest? Heterotrophs (like humans) ingest 19) Juan is the person employees go to when knowledge of a topic was needed.Juanholds ________ power.A) legitimateB) rewardC) referentD) expert. Which provision of a life insurance policy states that the insurer's duty to pay benefits upon the death of the insured, and to whom the benefits will be paid? A 30 Y was killed in an automobile accident on August 22, before the policy was issued. An insurer, agent, solicitor, or other person that violates the Insurance Code section on rebating is guilty of a misdemeanor. A Assigning different risk classifications to applicants based on gender identity B Mailing an agency brochure to a prospective client The policy endows when the insured turns 100. A 60 days When producers give or promise anything of value that is not specified in the policy, they are guilty of rebating. B Coercion Formula: (Ann . 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). Permitting individuals of the same class to be charged a different rate for the same insurance is the unfair trade practice of discrimination. Which of the following would be required to be licensed as an insurance producer? A producer in tensional he violated insurance statues. Follow the following are true of the federal tax advantages of a qualified plan. D The passing of a written examination. 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? File an application with the Director b. From what type of insurer did the insured purchase the policy? Which of the following could be used when a corporation, association, partnership, or limited liability partnership acts as a producer? Which of the following provisions would NOT be found in Term Life Insurance? 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? ________________ are owned and controlled by their policyholders. Until now, she has collected a nontaxable dividend check each year. 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 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? There is no limitation on the number of key employee plans in force at any one time, the employer is the owner, Payor and beneficiary of the policy, the key employee is the insured. D Other than the 3 hours of ethics, licensees may take courses in any line. Purest form of term insurance; death benefit remains level, but the premium increases each year with the insured's attained age. In a direct rollover, how is the money transferred from one plan to the new one? Heavy Cream is in Aisle A31 of the Dairy section in Walmart. The cash value of a variable life policy is not guaranteed and fluctuates with the_________________ in which the premiums have been invested by the insurer. This annuity plan is What is true regarding taxation of accelerated benefits under a life insurance policy? launchpad classlink nmusd; cantonese text to speech; 15 second tv commercial script examples Person entitled to exercise the rights and priveleges in the policy, Amount paid upon the death of the insured in a life insurance policy. D Misrepresentation. Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents. False advertising is the illegal practice of advertising or circulating materials that are untrue, deceptive, or misleading. Synonym for a substandard risk classification. Circulating deceptive sales material to the public is what type of Unfair Trade Practice? C B - In order to collect premiums and explain coverages, a person would need to be licensed. 60. An insured pays an annual premium to his insurer. 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 a policy has an automatic premium loan provision, what happens if the insured dies before the loan is paid back? 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? Obtain appropriate signatures on the application for insurance, help prevent adverse selection, and solicit business that will fall within the insurer's underwriting guidelines. The policy contains the optional Payor Benefit rider. must ensure a pair that's benefit claim after receiving the product of death? Number of credits required for fully insured status for Social Security disability benefits? All of the following are true regarding rebates EXCEPT. Th rider in a whole life policy that allows the company to forgo collecting the premium if the insured is disabled is called? The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. What are the classifications of net assets reported in the statement of financial position by private colleges? SUGGESTIONS FOR PREPARING SPEAKING NOTES While several of these reminders might strike you as obvious, speakers often ignore them when preparing to speak. What is this called? All of the following would be considered to be rebating EXCEPT. The purpose of the Tennessee Guaranty Association is to. The payments that that annuitant invests into the variable annuity are invested in the insurer's separated account. D Imprisonment. This is called.. The balance is paid out directly to the employee in order for her to move the funds to a new account. Azanswer team is here with the correct answer to your question. 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. C Limited lines If an agent fails to obtain an applicant's signature on the application, the agent must An insurance contract that requires both the insured and the insurer meet certain conditions in order for the contract to be enforceable is (Example) When Y applied for insurance and paid the initial premium on August 14, he was issued a conditional receipt. In reality, its financial health is terrible, and the company will soon have to file for bankruptcy. D 30 days. Which of the following is an example of a producer being involved in an unfair trade practices of rebating? C Whenever an individual stops drinking, the BAL will ________________. Convertible without proof of insurability up to the full term death benefit. all of the following would be considered rebating except Follow us. A person does not require an insurance producer license if he or she only advertises without intent to solicit insurance. Up to 12 excess credit hours of CE may be carried over to the next review period. B Coercion. Upon conviction, a person who has submitted a false or fraudulent claim or report to the insurer may be fined, imprisoned, or both, and required to pay restitution. All of the following actions can be described as twisting EXCEPT. Employer contributions are not included in the employee's gross income, SEP's allow the employer to make annual tax-deductible contributions of the 25% of an employee's earned income, SEP's have a higher tax deductible contribution limit than an IRA. Mutual-policyholders; Stock-stockholders. B A temporary producer license could be issued without examination to all the following EXCEPT? A Defamation If an insurer terminates a producer, the Commissioner must be notified. Rebating is the practice of returning a percentage of the payment or the agent's/fee broker's on the charge to the covered, as well as additional motivators to do company with a certain insurer. Added 30 days ago|10/30/2021 2:46:29 PM. The type of settlement option which pays throughout the lifetimes of two or more beneficiaries is called? C Law of large numbers All of the following are true regarding rebates EXCEPT a) Rebates are only allowed if specifically stated in the policy. select one: Which set of characteristics will produce the smallest value for the estimated standard error? Any surplus money is returned to the policyholders as dividends. A$500 Which of the following may obtain a producer's license, but may not sell, solicit, or negotiate a contract of insurance in Tennessee? He discovered that his policy.. What statement concerning group life is true? What type of license should the producer obtain? C Accidentally misspells the name of the insurance policy in a written communication to a customer. B 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 Undercutting C Twisting. The agent is guilty of? In a life settlement contract, whom does the life settlement broker represent? A 30 days This practice is considered "At the time of the application" is when interest must exist. A participating life insurance policy may pay a portion of its net earnings to a policyholder, but dividends cannot be guaranteed. What would be the right policy for this client? Group life insurance is a single policy written to provide coverage to members of a group. A banker is ready to close on a customer's loan. [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 .