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. Discriminating between individuals of the same class with equal life expectancies, or by reason of race, nationality, or ethnic group would be considered unfair discrimination. B. Twisting. C D Adverse selection. 15 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? 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. The ownership provision entitles the policyowner to What is correct concerning the taxation of premiums in a key-person life insurance policy? 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. Which of the following is not a standard mounting dimension for an electric motor? Once the policyholder opts for cash surrender, the policy is immediately inactive. (Example) A man purchased a $90,000 annuity with a single premium, and began receiving payments 2 months after that. C Fine A producer in tensional he violated insurance statues. B Coercion When the policyowner specifies a dollar amount in which installments are to be paid, he/she has chosen which settlement option? To be able to pay some of her medical bills, she withdraws a portion of the policy's cash value. 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. If an insurer terminates a producer, the Commissioner must be notified. The annuity income payments are scheduled to begin after 1 year since the annuity was purchased. C It requires satisfactory completion of at least 24 hours of approved training every biennium. 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. 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. = 15 ? Is a mandatory provision that allows the insured to examine a policy, and if dissatisfied for any reason, return the policy for a full refund of any premiums paid. Rating. D False advertising. After 5 years, she decides to leave the company and work independently. Shopping for electric motors can be tricky. Most horse (1). C Two letters of recommendation attesting to trustworthiness, reliability, and good reputation B Coercion. A key person insurance policy can pay for what? Circulating deceptive sales material to the public is what type of Unfair Trade Practice? What is not an example of a business use of life insurance? New answers. When does the policy coverage become effective? 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? What is the other term for the cash payment settlement option? Synonym for a substandard risk classification. Coercion, for example, is when the bank won't give you an auto loan unless you agree to buy auto insurance from them. This annuity plan is What is true regarding taxation of accelerated benefits under a life insurance policy? 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. D$5,000. What is true regarding taxation of accelerated benefits under life insurance policy? Rebating is an unfair trade practices and is regulated by law all of the following would be considered to be rebating except When twin brothers applied for life insurance from company a, the company found that while neither of them smoke and both had a very similar lifestyle, one of the twins was in a much stronger financial position than the . This is considered to be an unfair claim settlement practice 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 Discrimination. B$1 Department of Education. C Coercion. Which of the following activities is not performed by an insurance producer? A Concealment. all of the following would be considered rebating except 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.. C Sharing commission with the insured It is never legal to limit coverage based on marital status. Ultimately, the commissioner determined that there were a total of 25 separate violations. C$2,000 Which of the following would be required to complete pre-licensing education? B A new Commissioner or Director is put into office. 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? Vscode No server install found in WSL, needs x64. Each of the following statements may (or may not) describe one of these technical terms. A B Twisting. Rebating is defined as any inducement offered to the insured in the sale of insurance products that is not specified in the policy. She also wished to retain all of the rights of ownership. A Beneficiaries do not have to have an insurable interest in the policyholder. juan holds ________ power. How are contributions to a tax-sheltered annuity treated with regards to taxation? If convicted for a false claim, an insured, agent, collector, physician or any other person could be fined up to $1,000. A Assigning different risk classifications to applicants based on gender identity A 30 days D Legal, provided that the information can be verified. Death benefits payable to a beneficiary under a life insurance policy are generally. A. the spouse or legal representative of a deceased insurance producer The owner, however, does not have to be the one who receives the benefits; it could be the annuitant or the beneficiary. COMPREHENSIVE Texas All Lines Adjuster Exams Bundle ,Questions With What settlement option should the policyowner choose? Question. What policy would have an IRS required corridor or gap between the cash value and the death benefit? The following areas are regulated by the Insurance Department EXCEPT An insured committed suicide 6 months after his life insurance policy was issued. -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 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. A 60 days A temporary license may be issued for up to 180 days. The agent is guilty of Describe the relationship between potential difference and electrical potential energy. 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 Controlled business. When an employee terminates coverage under group insurance policy, coverage continues in force for how long? C C Dividends from a mutual insurer. How much would the beneficiary receive from the policy? Autotrophs (like plants) produce glucose during photosynthesis. 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. What can they do? Which of the following would be required to be licensed as an insurance producer? Attorney General. All of the following would be considered rebating except What is this called? This year, she did not receive a check fin from the insurer. Last year, she received a dividend check from the insurance company that was not taxable. What option does this describe? D Producer commission schedules. b) Rebating can be anything of economic value, given as an inducement to buy. A licensee must inform the Commissioner of a change of legal name or address within 30 days of the change. He never remarried and dies at age 61, leaving 2 grown-up children. C All of the following actions are considered rebating except sharing commissions with other licensed and appointed agents An insurer, in general business practice, fails to promptly provide a reasonable explanation for the denial of a claim. What determines the length of time that benefits will be received under the fixed-amount settlement option? 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? D Misrepresentation, How much is an agent's appointment fee? The integer 4 is considered all of the following except _____. Result of calculation based on the average number of months the insured is projected to live due to medical history and mortality factors? B 30 What policy component contains the company's promise to pay? The policyowner of an adjustable life policy wants to increase the death benefit. An insured has a life insurance policy from a participating company and receives quarterly dividends. Even though my life fits into a backpack, I still find that theres never enough closet space for my clothes. a constant a term a variable an expression. C Dividends from a mutual insurer. 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? D Slandering. Articles of merchandise with an invoice value of $5 or less for life insurance agents and $10 or less for property and casualty agents $10 or less are not considered rebates, and are allowed as gifts to insurance applicants or insured. A person whose activities are limited to producing insurance advertisements
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