all of the following would be considered rebating except

What best describes this practice? In this state, what type of violation is rebating? Which of the following is NOT a pathway in the oxidation of glucose. In reality, its financial health is terrible, and the company will soon have to file for bankruptcy. Categories . If the policyowner, the insured, and the beneficiary under a life insurance policy are three different people, who had the ownership rights? in order to reinstate a life insurance policy the insured must do all of the following except: pay next year's premium in advance. 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? Annuities are most commonly used to fund a persons retirement, but they can technically be used to accumulate cash for any reason. A "At the time of the application" is when interest must exist. 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). c) An offer of employment. Mutual-policyholders; Stock-stockholders. Follow the following are true of the federal tax advantages of a qualified plan. A 60 days B Discriminating in benefits and coverages based on the insured's habits and lifestyle An insurer publishes intimidating brochures that portray the insurer's competition as financially and professionally unstable. Each of the following statements may (or may not) describe one of these technical terms. 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. B Nothing, unless the remarks were in writing The policy contained an accidental death rider, offering a double indemnity benefit. Published by at June 10, 2022. The balance is paid out directly to the employee in order for her to move the funds to a new account. If a producer discusses policy dividends in a sales presentation, what statement must the producer also make? A Giving an applicant a $5 pen with the insurer's logo during the insurance application process b) Rebating can be anything of economic value, given as an inducement to buy. An insurer devises in a determination strategy in order to quarter a large portion of the insurance market. What type of annuity is it? D$2,000. Corporation is the owner and beneficiary of the key person life policy. Rebates are allowed if it's in the best interest of the client. Weegy: A basic position in American foreign policy has been that America must defend its foreign interests related to Weegy: 15 ? In this situation, the Commissioner must be notified within 30 days. A Temporary This is due to what provision? 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 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. B A Certificate of Completion from the required pre-licensing study course What determines the amount of each installment paid in a life income option arrangement? Which of the following is not a standard mounting dimension for an electric motor? Person entitled to exercise the rights and priveleges in the policy, Amount paid upon the death of the insured in a life insurance policy. Each agent must pay a $5 appointment fee to the Commissioner. 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. Two individuals are in the same risk and age class; yet, they are charged different rates for their insurance policies due to an insignificant factor. This is a personal use of life insurance known as.. Unintentional misspellings are not a misrepresentation. Rating. Which of the following is an example of a producer being involved in an unfair trade practice of rebating? ResponsibilitymarginContributionmarginPerformancemarginTransferpriceCost-plustransferpriceProductcostsCommonfixedcostsTraceablefixedcostsCommittedfixedcosts. A Restriction of authority C Misrepresentation An insured purchased an insurance policy 5 years ago. C 90 days D Coercion. 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. A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. Commissioner. All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents. Licensed, however, not in the state the indivisible resides. An insurer devises an intimidation strategy in order to corner a large portion of the insurance market. How are contributions to a tax-sheltered annuity treated with regards to taxation? Contracts that are prepared by one party and submitted to the other party on a take it or leave it basis are classified as? What information will be stated in the consideration clause of a life insurance policy? The soon-to-be producer does not want to wait until he receives his license in order to begin working. Who is personally liable for all contracts of insurance unlawfully made with in Tennessee on behalf of an unauthorized insurer? The premiums paid by the employer in a business life insurance policy are All of the following are true of a key person insurance.. A policyowner fails to pay the premium due on his whole life policy after the grace period passes, but the policy remains in force. 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? What does this mean to the beneficiaries? What policy would have an IRS required corridor or gap between the cash value and the death benefit? All of the following would be considered rebating except. What is true about beneficiary designations? How can she obtain an individual policy? He never remarried and dies at age 61, leaving 2 grown-up children. Who is the main purpose of the seven-pay test? 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. All of the following could own a group life insurance EXCEPT A group needing low-cost life insurance An applicant for a producer's license has successfully completed all of the steps to obtain the license. What type of policy does the insured most likely have? Assuming that a policy does not contain an unconditional refund provision of at least 10 days, when must a Buyer's Guide and policy summary be provided? B Insurer financial requirements. B D 10 days. C Twisting B An offer to share in commissions generated by the sale. 30 B Twisting Which of the following would NOT be considered rebating? (Example) your client wants both protection and savings from the insurance, and is willing to pay premiums until retirement at age 65. On its advertisement, a company claims that it has funds in its possession that are, in fact, not available for the payment of losses or claims. C Controlled business. If the corporation collect the policy benefit, then. What type of policy is this? All of the following concerning a non-contributory group plan is true: What is an IRS qualified retirement program for the self-employed? B Unfair claim practice. What license or licenses are required to sell variable life annuities? And employee quits her job where she has a balance of $10,000 in her qualified plan. Last year, she received a dividend check from the insurance company that was not taxable. 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? B In the preceding 2 years. D$5,000. An insured will be allowed to reactivate her lapsed life insurance policy if action is taken within a certain period of time, and proof of insurability is provided. An insurance company has published a brochure that inaccurately portrays the advantages of a particular insurance policy. C 12 months How many days does the insurer have to deliver this notice? D An offer of employment. D Cancelling individual coverage based on the insured's marital status. An insured purchases a policy in 2008 and died in 2013. This misstatement may result in? He discovered that his policy.. Insurers are also not allowed to cancel individual coverage due to a change in marital status. D A license to practice law. An agent who offers a cash reward to a prospect for buying a policy is guilty of. B A new Commissioner or Director is put into office. These are all considered to be Unfair Trade Practices, which are major violations that can lead to heavy penalties. 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? B. Defamation. C 30 days In comparison to consumer reports, what best describes a unique characteristic of investigate consumer reports? In which of the following situations is it legal to limit coverage based on marital status? The agent is guilty of This is considered to be false, deceptive or misleading advertising. All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents. Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. Any surplus money is returned to the policyholders as dividends. Which of the following would be considered an illegal inducement to purchase insurance? Horse racing is one of the oldest and most popular racing sports in the world, but how long is a horse race? All of the following are penalties for submitting fraudulent claims to the insurer EXCEPT How long must an insurer keep a copy of an authorized form in its records? What amount would his beneficiary receive as a settlement? Your email address will not be published. The ownership provision entitles the policyowner to What is correct concerning the taxation of premiums in a key-person life insurance policy? Rebates are allowed if it's in the best interest of the client. What would be the right policy for this client? All of the following would be considered rebating except. The owner, however, does not have to be the one who receives the benefits; it could be the annuitant or the beneficiary. must ensure a pair that's benefit claim after receiving the product of death? A In the preceding 12 months. 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. The producer could be found guilty of C Defamation. Which of the following would be required to complete pre-licensing education? She also wished to retain all of the rights of ownership. The dividend option in which the policyowner used dividends to purchase a term policy for one year is referred to as the An insured purchased a life insurance policy on his life naming his wife as primary beneficiary, and his daughter as contingent beneficiary. What is not an example of a business use of life insurance? Which life insurance settlement option guarantees payments for the lifetime of the recipient, but also specifies a guaranteed period, during which, if the original dies, the payments will continue to a designated beneficiary? The "owner" is the person who purchases the contract and has all of the rights such as naming the beneficiary and surrendering the annuity. 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 B Mailing an agency brochure to a prospective client 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] select one: Which set of characteristics will produce the smallest value for the estimated standard error? (Example) A man purchased a $90,000 annuity with a single premium, and began receiving payments 2 months after that. Describe the relationship between potential difference and electrical potential energy. Within how many days of requesting an an investigative consumer report must an (insurer) notify the consumer in writing that the report will be obtained? If the producer continues to violate the entrance code, I knew so penalty will be assessed every? What is true concerning a buy-sell agreement? all of the following would be considered rebating except. NAIC. f. The subtotal in a responsibility income statement that comes closest to indicating the change in income from operations that would result from closing a particular part of the business. In life insurance policies, cash value increases. The insurer's surrender the policy at its current cash value. What required provision protects against unintentional lapse of the policy? If an insurance company has published a brochure that in accurately portrays the advantages of a particular insurance policy. A Defamation unit 3: personal and business finance grade boundaries. What brand of castor oil is best for hair? What would describe a legal document which would dictate who can buy a deceased partner's share of a business and for what amount? C 7 Under a variable annuity, the issuing insurance company does not guarantee a minimum interest rate or the benefit payment amounts. You should now have gotten the answer to your question Rebating is an unfair trade practice and is regulated by law. What describes the tax advantage of a qualified retirement plan? It can happen just as long as.. Have a guaranteed face amount and a level premium for the life of the insured. User: 3/4 16/9 Weegy: 3/4 ? D Added 30 days ago|10/30/2021 2:46:29 PM. 20/3 B 30 When a persons only options for a contract are on a take it or leave it basis; prepared only by the insurer. A. Formula: (Ann . [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 . Candidates for either a property license or a casualty license must complete how many hours of pre-licensing education? What option would allow her to do this? D Any time in the past. Circulating deceptive sales material to the public is what type of Unfair Trade Practice? all of the following would be considered rebating except. C Cease and desist order 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? All of the following actions can be described as twisting EXCEPT. B Twisting. 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. 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? Licensees who are currently licensed, and have recently become residents of the state of Michigan may not have to complete any prelicensing education. What will she need to provide for proof of insurability? 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. When would a 20-pay whole life policy endow? Th rider in a whole life policy that allows the company to forgo collecting the premium if the insured is disabled is called? A licensed counselor MAY NOT perform which of the following duties? What type of license should the producer obtain? 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? When an insurer's underwriter approves coverage and issues a policy. Which type of life insurance policy generates immediate cash value? What does this mean? What is the primary purpose of a 401(k) plan? 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 provisions would NOT be found in Term Life Insurance? SUGGESTIONS FOR PREPARING SPEAKING NOTES While several of these reminders might strike you as obvious, speakers often ignore them when preparing to speak. 60 days. 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? B False advertising. A person does not require an insurance producer license if he or she only advertises without intent to solicit insurance. Time during which accumulated money is converted into an income stream. This practice is considered? This is a personal use of life insurance known as. Which of the following would be considered false advertising? B. Twisting. 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} All the following would be considered an unfair and deceptive practice. Home; About Us. A. the spouse or legal representative of a deceased insurance producer What determines the length of time that benefits will be received under the fixed-amount settlement option? Group life insurance is a single policy written to provide coverage to members of a group. I no the truth.Ans: I know the truth.(2). A At age 47, the insured decides to cancel his policy and exercise the extended term option for the policy's cash value, which is currently $20,000. a constant a term a variable an expression. Asked 11/28/2019 3:15:17 PM. all of the following would be considered rebating except Follow us. What are the classifications of net assets reported in the statement of financial position by private colleges? An agent's license may also be suspended or revoked. What would be the face amount of the new term policy? 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. B Sending a $20 gift certificate to the insured's employee after the insurance has been effected as a thank you for the referral