all of the following would be considered rebating except

C Class C violation 1 to 75. 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. 15 Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as 1.Reasonable expectations 2.Subrogation 3.Ambiguities in a contract of adhesion 4.Utmost good faith - answerSubrogation There are various optional provision for health policies. Search for an answer or ask Weegy. All of the following are penalties for submitting fraudulent claims to the insurer EXCEPT If convicted for a false claim, an insured, agent, collector, physician or any other person could be fined up to $1,000. If an insurer wishes to appoint a producer, it must file a notice of appointment within how many days of the date that the contract is executed? Which is NOT required of an applicant for an insurance license in Michigan? D A termination issued by the appointing insurer. Which of the following, upon conviction, carries a fine of up to $2,000 for each violation? What is the term for how frequently a policyowner is required to pay the policy premium? Which two terms are associated directly with the premium? When an insurer's underwriter approves coverage and issues a policy. Why is an equity Indexed annuity considered to be a fixed annuity? What is true concerning a buy-sell agreement? Considered to be the average risk; representative of the majority of people in their age and with similar lifestyles, Insurers (this is so the insurers can compare the info that have collected on the individual). Which of the following acts would not get an insurance producer terminated "for cause"? In order to to do that, what may happen? Beneficiaries do not have to have an insurable interest in the policyholder. It is illegal to participate in any boycott, coercion, or intimidation that is intended to restrict fair trade or create a monopoly. Autotrophs (like plants) produce glucose during photosynthesis. A Stocks, securities, or bonds. An insured pays an annual premium to his insurer. And any controversy between the insured or the insured's beneficiary and the insured that arises from the application for insurance of any policy issued a connection with the application, the producer is considered to be the agent and which of the following? What source will it consult for the majority of its underwriting information? B 90 days A Payment of restitution all of the following would be considered rebating except D False advertising. Flashcards - Connecticut Insurance Test 2021 - FreezingBlue Unless revoked or suspended how long does a producers license remain in effect in Tennessee? Therefore, in the other types of level policies, the first-year premium would not be different from any other year. What statement is correct? The insurance company discovers at that time that the insured concealed info during the application process. I no the truth.Ans: I know the truth.(2). 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. Your email address will not be published. COMPREHENSIVE Texas All Lines Adjuster Exams Bundle ,Questions With B Coercion Search for an answer or ask Weegy. A. C Dividends from a mutual insurer. B Misleading advertising. What are the three basic types of term coverage available, based on how the face amount (death benefit) changes during the policy term: Best description of what an annuity period is: Policy which allows the partial withdrawal, or surrender, of the policy cash value. A cease and desist order requires an individual to stop doing a specific activity that the Commissioner believes to be violating the Insurance Code. A father owns a life insurance policy on his 15-year-old daughter. This is a personal use of life insurance known as.. Which of the following allows different operating systems to coexist on the same physical computer? D Cancelling individual coverage based on the insured's marital status. D B. B. Defamation. What type of insurance policy would perform the function of cash accumulation? 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 policyowner should have her husband named as the.. A couple owns a life insurance policy with a Children's Term rider. 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? B A Certificate of Completion from the required pre-licensing study course Michigan's continuing education requirement consists of completing 24 hours of CE each biennium, with at least 3 of those hours in Ethics. All of the following would be considered rebating except. In most states, if death results from suicide within a certain period, the insurer is not obligated to pay the death benefit therefore.. All of the following would be considered rebating except The policyowner may assign a part of the policy or the entire policy. 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. If a licensee does not earn 24 hours of Continuing Education by the license review date, the license will be suspended for up to how many days? C Accidentally misspells the name of the insurance policy in a written communication to a customer. C Sharing commission with the insured All of the following would be considered rebating except Which type of life insurance policy generates immediate cash value? This is considered to be false, deceptive or misleading advertising. An annuity owner is funding an annuity that will supplement her retirement. C. Address B Criminal offense D Other than the 3 hours of ethics, licensees may take courses in any line. Which of the following provisions would NOT be found in Term Life Insurance? A The producer could be found guilty of A 60 days User: 3/4 16/9 Weegy: 3/4 ? A 40 year old man buys a whole life policy and names his wife as his only beneficiary. In the best interests of the client, rebates are allowed. "At the time of the application" is when interest must exist. Added 149 days ago|10/30/2021 2:46:29 PM. 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 However, once there is solicitation, a license is required. What option would allow her to do this? Even though my life fits into a backpack, I still find that theres never enough closet space for my clothes. A 15 Before the Director will issue a license, a person must meet all of the following qualifications EXCEPT a. This is considered to be an unfair claim settlement practice B How do you get to Motion settings on iPhone? 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? B Twisting. c) An offer of employment. 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? He wants to withdraw some money in order to pay medical bills. C 30 days What option does this describe? In return, the insurer promised to pay benefits in accordance with the terms of the contract. D Business Entity. All of the following actions can be described as twisting EXCEPT. What is the purpose of establishing the target premium for a universal life policy? A nonresident producer is a producer who is domiciled and licensed as a resident producer in another state. The payments that that annuitant invests into the variable annuity are invested in the insurer's separated account. What must be acceptable in order for the ride to be able to waive the payment of premium? Correct Answer: A. In a life settlement contract, whom does the life settlement broker represent? A person whose activities are limited to producing insurance advertisements An insured owns a life insurance policy. 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? C Dividends from a mutual insurer. Log in for more information. D Felony. 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, D) An agent offers the use of his lake house to person as an inducement to buy, Answer:C) An agent uses misrepresentation to convince a person to cancel an existing policy and take a new policy from him. Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. B. Unintentional misspellings are not a misrepresentation. ________________ are owned and controlled by their policyholders. = 15 ? all of the following would be considered rebating except She has decided that she would rather use the dividends to help pay for her next premium. 90 days. If an insured continually uses the automatic premium loan option to pay the policy premium. SUGGESTIONS FOR PREPARING SPEAKING NOTES While several of these reminders might strike you as obvious, speakers often ignore them when preparing to speak. A Discrimination. 60 days. A corporation is the owner and beneficiary of the key person life policy. C NAIC. B Suspension of authority When an employee terminates coverage under group insurance policy, coverage continues in force for how long? All of the following would be considered rebating except. 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. B Advertise & solicit business as an insurance counselor or consultant B. Twisting. A person does not require an insurance producer license if he or she only advertises without intent to solicit insurance. The agent is guilty of Candidates for either a property license or a casualty license must complete how many hours of pre-licensing education? An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. C Two letters of recommendation attesting to trustworthiness, reliability, and good reputation Flashcards - WA Common Law Practice Exam - FreezingBlue New answers. An insured had a continuous premium whole life policy. 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? Whenever an individual stops drinking, the BAL will ________________. This is due to what provision? What is true regarding a non-qualified retirement plan? What must be presented before an applicant submits a premium? Which of the following is an eligibility requirement for all Social Security disability income benefits?

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