Brokers and financial advisors are prohibited from accepting rebates since they may create conflicts of interest. If you like the fitness and motion activity tracking feature on the iPhone, you should have this setting left on. A nonresident producer is a producer who is domiciled and licensed as a resident producer in another state. Describe the relationship between potential difference and electrical potential energy. A Twisting. Added 30 days ago|10/30/2021 2:46:29 PM. Each of the following statements may (or may not) describe one of these technical terms. MI Life Insurance Policy Provisions, Options, Federal Tax Considerations for Health Insuran, Qualified Plans, and Federal Tax Consideratio, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Fundamentals of Financial Management, Concise Edition. C Dividends from a mutual insurer. -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. (Example) A man purchased a $90,000 annuity with a single premium, and began receiving payments 2 months after that. The Commissioner may waive prelicensing requirements or examinations for someone who has been a licensed insurance producer The minimum age at which a person can sign a life insurance application is. What must be acceptable in order for the ride to be able to waive the payment of premium? The policy endows when the insured turns 100. A Assigning different risk classifications to applicants based on gender identity B Coercion. What happens to the premium on the children's rider in 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. Defamation is making statements that are false as to the financial condition of any insurer and which are calculated to injure any person engaged in the business of insurance. The applicant must file a certificate of completion of the prelicensing courses taken to prove that the courses were not taken more than 12 months before the Commissioner received the application. A 30 days All of the following would be considered rebating except D Slandering. The person or interest to whom the policy proceeds will be paid upon the death of the insured. An out-of-state producer wants to start selling insurance in this state. Which of the following, upon conviction, carries a fine of up to $2,000 for each violation? An agent offers to share his commission with a policyholder. A 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. For an individual who is NOT covered by an employer-sponsored plan, IRA contributions are, Amount of coverage is determined according to nondiscriminatory rules, individuals covered, under the policy receive a certificate of insurance, certificate holders may convert coverage to an individual policy without evidence of insurability. This nonforfeiture option provides coverage for the longest period of time: The policyowner wants to make sure that upon his death, the life policy will pay a portion of the proceeds annually to his spouse, but that the principal will be paid to their children when they reach a certain age. A temporary license may be issued for up to 180 days. If an insurer terminates a producer, the Commissioner must be notified. A 7 days User: She worked really hard on the project. A 60 days New answers. What is the total, monetary penalty this producer can expect to receive? 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. D Engages in fraud. User: 3/4 16/9 Weegy: 3/4 ? 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? A Unfair claims Although the appointment is made by the head of the Insurance Department, that person leaving the office does not terminate existing appointments. Until now, she has collected a nontaxable dividend check each year. This plan would be funded with before-tax corporate dollars, and it does not meet government approval standards. What can they do? There are several types of whole life polices. An agent selling variable annuities must be registered with.. Universal life option A (Level Death Benefit Option) Policy must maintain a specified "corridor" or gap between the cash value and the death benefit, as require by the IRS. B At least 3 hours must cover ethics. New answers. 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. What happens when a policy is surrendered for its cash value? An insured is diagnosed with cancer and needs help paying for her medical treatment, The annual dividend is retained by the company, the interest is credited at a rate specified by the policy, and the policyholder has the right to withdraw the accumulations at any time. Annuities can also be used to.. When an insurer's underwriter approves coverage and issues a policy. The owner, however, does not have to be the one who receives the benefits; it could be the annuitant or the beneficiary. all of the following would be considered rebating except Missouri Statutes, Rules, and Regulations common to all lines *revised D Their daughter is reaching the maximum age of dependent coverage, so she will have to convert to permanent insurance in the near future. Added 149 days ago|10/30/2021 2:46:29 PM. 20/3 To qualify for this exemption, they must apply to become resident licensees within a few days of establishing a legal residence within how many days? These are all considered to be Unfair Trade Practices, which are major violations that can lead to heavy penalties. D 10. What percentage of a company's employees must take part in a noncontributory group life plan? Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents. = 45/20 What is true? Juan is the person employees go to when knowledge of a topic was needed. select one: Which set of characteristics will produce the smallest value for the estimated standard error? The Insurance Department regulations are to protect the insurance-buying public. Which of the following would NOT be considered rebating? All the following are business uses of life insurance: If I retirement plan or annuity is "qualified," this means Who is the owner and who is the beneficiary on a key person life insurance policy? B Criminal offense 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. D 10 days. A licensee must inform the Commissioner of a change of legal name or address within 30 days of the change. Age The insurer's surrender the policy at its current cash value. And employee has group life insurance through her employer. What option for Universal Life allows the beneficiary to collect both the death benefit and cash value upon the death of the insured? Dividends paid to policyholders of a mutual insurer are not considered to be a rebate because the policy specifies that they might be paid. Which policy provision allows this? 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. B Advertise & solicit business as an insurance counselor or consultant Which of the following would be considered false advertising? C Accidentally misspells the name of the insurance policy in a written communication to a customer. C$2,000 The insurer has 15 days to file a notice of producer appointment. Issuing or circulating any sales material that is false or misleading would be considered misrepresentation and is illegal. B. What will she need to provide for proof of insurability? all of the following would be considered rebating except A Result of calculation based on the average number of months the insured is projected to live due to medical history and mortality factors? C 90 days 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? 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? An insured owns a life insurance policy. 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". D. Sexual orientation. When both parties to a contract must perform certain duties and follow rules of conduct to make the contract enforceable, the contract is.. Are you having trouble answering the question Rebating is an unfair trade practice and is regulated by law. If the corporation collect the policy benefit, then. Rebates are allowed if it's in the best interest of the client. Earnings grow tax-deferred, contributions are not currently taxable, it can discriminate in benefits and selecting participants, For a retirement plan to be qualified, it must be designed for the benefit of. Which of the following is an eligibility requirement for all Social Security disability income benefits? Minimum number of credits required for partially insured status for Social Security disability benefits is. all of the following would be considered rebating except B 90 days The amount of payments will be determined by taking into account all of the following: 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.. An insured owns a $50,000 whole life policy. Under what circumstances could the daughter collect the death benefit? All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents. Therefore, in the other types of level policies, the first-year premium would not be different from any other year. The ownership provision entitles the policyowner to What is correct concerning the taxation of premiums in a key-person life insurance policy? 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? The automatic premium loan provision is activated at the end of the What premium payment mode will incur the lowest overall payment? C A producer's license expires and is not renewed. Nonforfeiture values guarantee which policyowner? 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?

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