all of the following would be considered rebating except

all of the following would be considered rebating except Follow us. A Applicant must be 18 years old Upon receipt of notice of appointment, the commissioner must verify the insurance producer is eligible for appointment within how many days? If an immediate annuity is purchased with the face amount at death or with the cash value at surrender, this would be considered a? 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? A tax-sheltered annuity is a special tax-favored retirement plan available to. Business entity means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. She would likely purchase a(n)? D An offer of employment. must ensure a pair that's benefit claim after receiving the product of death? What is true of the cash surrender nonforfeiture option? Commissioner. D Surplus lines. This is due to what provision? A Misdemeanor 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. User: 3/4 16/9 Weegy: 3/4 ? All paid by the time the insured reaches age 65. C 30 days Required by state law to be included in the policy, and cannot be altered by the policyowner. In a direct rollover, how is the money transferred from one plan to the new one? When twin brothers applied for life insurance from Company A, the company found that while neither of them smoked and both had a very similar lifestyle, one of the twins was in a much stronger financial position than the other. C Accidentally misspells the name of the insurance policy in a written communication to a customer. What amount would his beneficiary receive as a settlement? In order to qualify for conversion from a group life policy to an individual policy of the same coverage, a person must have been insured under the group plan for how many years? D Under which nonforfeiture option does the company pay the surrender value and have no further obligations to the policyowner? An insured had a $10,000 term life policy. What happens to the premium on the children's rider in a life insurance policy? Group life insurance is a single policy written to provide coverage to members of a group. 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? When a beneficiary receives payments consisting of both principal and interest portions, which part are taxable as income? D Legal, provided that the information can be verified. B 60 days The policyowner of a Universal Life Policy may skip paying the premium and the policy will not lapse as long as.. A policy will pay the death benefit if the insured dies during the 20-year premium-paying period, and nothing if death occurs after the 20-year period. It is illegal to participate in any boycott, coercion, or intimidation that is intended to restrict fair trade or create a monopoly. What is the name of the insured who enters into a viatical settlement. C Solicit business as an insurance producer When a persons only options for a contract are on a take it or leave it basis; prepared only by the insurer. A key person insurance policy can pay for which of the following? In decreasing policies, while the face amount decreases, the premium remains constant throughout the life of the contracts. Chinese Granite; Imported Granite; Chinese Marble; Imported Marble; China Slate & Sandstone; Quartz stone C 7 Rules of replacement apply to all of the following: An insurer must present a buyers guide and policy summary prior to accepting the applicant's initial premium, unless the policy contains an unconditional refund provision lasting at least how many days? select one: Which set of characteristics will produce the smallest value for the estimated standard error? C Listing the insurance companies the agency represents in a letter B. D$2,000. The requirement that an agent not co-mingle insurance monies with their own fund is known as? Search for an answer or ask Weegy. 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? Define electric potential and electric potential energy. What relationship is not an example of insurable interest? If an insurer terminates a producer, the Commissioner will receive a notification. Licensed in the state where the individual resides. Correlation and Causation What are correlation and causation and how are they different? I love when a hack helps me to recycle, and makes my life easier. 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.. File an application with the Director b. Which is NOT required of an applicant for an insurance license in Michigan? Cash surrender, extended term, reduced paid-up. [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 . The type of settlement option which pays throughout the lifetimes of two or more beneficiaries is called? B Nothing, unless the remarks were in writing 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. A A good business reputation and good moral character. juan holds ________ power. launchpad classlink nmusd; cantonese text to speech; 15 second tv commercial script examples A nonresident producer is a producer who is domiciled and licensed as a resident producer in another state. What is the result of this? D. A salaried employee who advertises and solicits insurance. Candidates for either a property license or a casualty license must complete how many hours of pre-licensing education? All of the following statements concerning an employer sponsored non-qualified retirement plan are true as follows: Two attorneys at law and operate their practice as a partnership. B A Certificate of Completion from the required pre-licensing study course What term best describes this arrangement? Any type of fraud or misrepresentation is a violation that may cause a license to be denied, suspended, or revoked. The validity of coverage under a life insurance policy may not be contested, except for nonpayment of premium, after the policy has been in force for at least how many years? D 10. Before the Director will issue a license, a person must meet all of the following qualifications EXCEPT a. This rider usually expires at the insured's age of 40. The separate account under many annuities provides the annuitant with a dozen or more investment options ranging from "money market funds" to "growth stock funds" to "precious metal funds". 3. B Advertise & solicit business as an insurance counselor or consultant What reports include written and/or oral information regarding a consumer's credit, character, reputation, or habits collected by a reporting agency from employment records, credit reports, and other public sources? A copy of the notice to the Commissioner must be sent to the producer in question within 15 days. In the best interests of the client, rebates are allowed. -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. A Discrimination. What will she need to provide for proof of insurability? When a company criticizes the financial situation of another company with the intention of injuring that company, it has committed an illegal trade practice called defamation. What is the required percentage of participants in a contributory group plan? Which nonforfeiture option provides coverage for the longest period of time? When the policyowner specifies dollar amount in which installments are to be paid, he/she has chosen which settlement option? Under the fixed-period option, a specified period of years is selected, and equal installments are paid to the recipient. D Audit or abstract insurance policies or annuities. What determines the amount of each installment paid in a life income option arrangement? What is the minimum civil fine per violation of the Insurance Code of this state? Requirements for life insurance illustrations: If a (consumer) requests additional information concerning an investigative consumer report, how long does the insurer or reporting agency have to comply? According to the Fair Credit Reporting Act, all of the following would be considered negative information about a consumer: The four essential elements of all legal contracts: The Medical Information Bureau (MIB) was created to protect? A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. In an annuity, the accumulated money is converted into a stream of income during what time period? What statement about a suicide clause in a life insurance policy is true? He discovered that his policy.. Which of the following has not been taken to court for further interpretation? A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. What is the maximum fine for submitting a false or fraudulent claim to the insurer? Playing your favorite game, Roblox, on Chromebook is quite achievable, but many users are only familiar with the Play Store method. A Defamation A Rebating. B Twisting Any surplus money is returned to the policyholders as dividends. 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). C All of the following actions can be described as twisting EXCEPT. It is never legal to limit coverage based on marital status. The producer could be found guilty of A 40 year old man buys a whole life policy and names his wife as his only beneficiary. A Cannot be extended or waived under any circumstances. The soon-to-be producer does not want to wait until he receives his license in order to begin working. Annuities are characterized by how they can be paid for which is: While equity indexed annuities earn higher interest rates than fixed annuities, both types of annuities guarantee a specific minimum interest rate.



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