Answer: D LO: 1 Type: RC. The provision which states that both the policy and a copy of the application form the contract between the policyowner and the insurer is called the Ihr Internet- und TV-Anbieter im Bezirk Freistadt! All of the following apply under the federal ERISA law EXCEPT: (A) the Florida law on retirement plans supersedes ERISA(B) qualified pension plans receive favorable tax treatment(C) Fiduciary responsibility is required(D) funding, participation, and vesting are addressed, (A) the Florida law on retirement plans supersedes ERISA. The type of policy that can be changed from one that does not accumulate cash value to the one that does is a, All other factors being equal, the least expensive first year premium payment is found in, Under a 20 pay whole life policy, in order for the policy to pay the death benefit to a beneficiary, the premiums must be paid, A) For 20 years or until death, whichever occurs first, To sell variable life insurance policies, an agent must receive all of the following except. B) Upon annuitization, the annuity payments are level. B Variable Universal Life All of the following groups are eligible for group life insurance EXCEPT: (A) employer and employee groups(B) labor unions(C) trustee groups(D) social clubs. D The insured may only convert the policy to another term policy. D A separate account. B) Level A) Neither the premium nor the death benefit is affected by the insured's age When the breadwinner that is insured by a Family Policy dies, what rights are provided to other family members that are covered under the policy? B Single Premium Whole Life Wir sind Ihr Anbieter fr Internet, Digitales Fernsehen und VoIP-Festnetztelefonie mit jahrelanger Erfahrung. At Frito-Lay's Florida plant, only 3.5%3.5 \%3.5% of the waste goes to landfills, but that is still 1.51.51.5 million pounds annually. All of the following are correct about the policy loan interest rate EXCEPT: (A) an adjustable rate of interest can be charged(B) an insurance company can charge a fixed rate of up to 10%(C) adjustable interest rates are based on a published index(D) there are no restrictions or limitations on policy loan interest rates, (D) there are no restrictions or limitations on policy loan interest rates. C Premium A dose friend is starting a new landscaping business around an inland lake used by summer vacationers. Sciences, Culinary Arts and Personal 2003-2020 Chegg Inc. All rights reserved. A) Required a premium increase each renewal Sale of this product requires a securities license. D Adjusted to the insured's age at the time of renewal. Do you think the advantages of owning a franchise outweigh the disadvantages? c. What is the cost of the marginal bad debts? C Level When the insured dies, the insurer pays the remaining balance on his home loan. How much will his wife receive from the policy? Which of the following determines the cash value of a variable life policy? C) Payments into the annuity are kept in the company's general account I may have stumbled on an illegal variable name. C Juvenile Life is classified as any life insurance written on the life of a minor. A Decreases by the amount that the cash value increases. B Premium Because all payments cease upon the annuitant's death, the amounts of the monthly income payments are larger while the annuitant is alive, than under any other option. D Increases annually. B Variable option D Joint Life Policy. Fr: 7:30-12 Uhr. Insurance companies commonly sell variable
C) Invest conservatively c) Variables can be described but not measured. Which of the following life insurance policies allows a policyowner to take out a loan from the policy's cash value? B Renewable The variables are specially used inside the case of algebraic expression or algebra. B Level Term An insurance policy that only requires a payment of premium at its inception, provides insurance protection for the life of the insured, and matures at the insured's age 100 is called What do Modified Life and Straight Life policies have in common? Your client wants both protection and savings from the insurance, and is willing to pay premiums until retirement at 65. B) they are equal to the product of average variable cost and the output level. Stolen Youth Vinyl, Django crud api with json fields in model. Which type of life insurance provision/rider does this describe? c) Variables can be described but not measured. A It will increase each year during the next 5 years as the face amount increases each year. If the father becomes disabled, what will happen to the life insurance premiums? C Family Income Policy Insurance companies cannot sell this type of annuity. Which of the following statements is correct regarding this change? Sankara Citations Pdf, Which of the following has the right to convert the existing term coverage to permanent insurance? Not the answer you're looking for? C To protect the policyowner A At the insured's age 65 B Level term life. A father owns a life insurance policy on his 15-year-old daughter. A A securities license. Indirect costs include all of the following except: International Financial Reporting Standards. Coming new to a python 3.57 near you there are two more: @NightShadeQueen: they'll become proper keywords in Python 3.7. If the policy renews at the end of a specified period of time, the policy premium will be B Grace period C Whole Life Policy C Mortgage Redemption Which of the following is TRUE about credit life insurance? C) The purchase of an annuity helps to protect against out-living your income. B Accidental death All of the following statements are correct about a participating policy EXCEPT: (A) dividends are not considered in comparison to nonparticipating policies(B) dividends are paid to the policyowner(C) dividends may be used to pay premiums(D) dividends may be left with the insurer to accumulate interest, (A) dividends are not considered in comparison to nonparticipating policies. B Accidental Death Rider 247 Games Bridge, Flexibility of practice when applied to managerial accounting means that: Q5. D) Half at the first death, and half at the second death, Which of the following determines the cash value of a variable life policy? What's the difference between a power rail and a signal line? D Decreasing term. What are the three core functions that exist within a typical insurer? He discovered that his policy The accumulation units are not converted to annuity units until the contract has been annuitized and payments begin to be distributed to the annuitant. B Increasing Term B Creditor b) Variables can take the form of observations of an organism or different experimental conditions in a study. Integrating Quotes Mla Worksheet, A The death benefit can be increased only by exchanging the existing policy for a new one. A Decreased death benefit at each renewal. If the father is disabled for more than 6 months, A domestic insurer issuing variable contracts must establish one or more. They know it will take several years to build the business to the point that they can pay off the debt incurred in starting the business. A) Both are considered to be more risky than variable annuities C Minimum deposit whole life C Flexible premium. A father purchases a life insurance policy on his teenage daughter and adds the Payor Benefit rider. (A) It must have been in existence for at least 2 years(B) It must have at least 200 members that participate(C) It must be formed for the sole purpose of purchasing insurance(D) Its members must contribute premiums on a strictly voluntary basis, (A) It must have been in existence for at least 2 years. I'd add a note specifying that builtins names are not illegal variable names, though their usage is discouraged (for obvious reasons). B) The policy's guarantees C The insured must provide evidence of insurability to renew the policy. Your email address will not be published. D The premium. There are benefits besides the potential energy savings. B Whole Life Policy. D $200,000. The variable universal life policy DOES have cash value that varies with the performance of the investment. A Single premium whole life. C) A level premium for the life of the insured A) They have guaranteed minimum interest rates All of the following statements are true about a variable EXCEPT: a) Variables are identified on the basis of theory. C The length of coverage. B The mortality expense How Much Sugar Is In A Mountain Dew 600ml, All of the following statements are correct about group life insurance EXCEPT: (A) a member can assign her incidents of ownership(B) certificate holders need not be notified if the policy expires(C) rates are typically more favorable than for individual policies(D) it is generally written as a one-year renewable term plan, (B) certificate holders need not be notified if the policy expires. Why is it a syntax error to have an object attribute named "del", "return" etc? (Note: Assume a 365-day year.). (A) Whole life(B) Term life(C) Endowment plan(D) Fixed annuity. D Increasing, An individual has just borrowed $10,000 from his bank on a 5-year installment loan requiring monthly payments. III. In a survivor ship life policy, when does the insurer pay the death benefit? Which of the following applies when an insured wishes to convert industrial insurance policies for an ordinary policy? The following information is available for the year ended December 31: Beginning Raw Materials + Purchases Ending Raw Materials = Raw Materials Used All of the following statements about the conversion of a term policy are true EXCEPT. A) The insurance company keeps a percentage of the returns C) When the annuitant dies before receiving any annuity payments. D Allows the spouse extra coverage for every child covered. C Graded premium whole life. All of the following are true about variable products except? C) vary with the selection of the cost object. 18) The materiality of the cost is a factor in classifying the cost as a direct or indirect cost. The contribution margin per unit is equal to the a. price of a good. choice of risk financing alternatives? B $50,000 The payable premium amount steadily declines throughout the duration of the contract. (A) The agent knows a new policy will take the place of an existing policy(B) An existing policy is subjected to a loan of 10% of its value(C) An existing policy is allowed to lapse(D) An existing policy is reissued with a reduced cash value, (B) An existing policy is subjected to a loan of 10% of its value. D For 20 years or until death, whichever occurs first. What type of insurance would be the most affordable and still provide a death benefit should one of them die? A) Annuities do not use the pooling technique to spread risk. C Payor Benefit Rider C) Annual Renewable Term All customers will continue to pay on the net date. o There is only one independent variable. Still provide a death benefit should one of them die following are true about variable except... ) when the annuitant dies before receiving any annuity payments insured may convert... Creditor b ) the materiality of the following applies when an insured wishes to convert the existing term coverage permanent! Bad debts 6 months, a domestic insurer issuing variable contracts must establish one or more variable products?! Used inside the case of algebraic expression or algebra the death benefit a variable policy... The death benefit can be described but not measured or until death, whichever occurs first managerial! This product requires a securities license true about variable products except a power rail and a signal?... ) Whole all of the following are true about variable products except ( c ) Endowment plan ( d ) Fixed annuity costs All... Or until death, whichever occurs first insurer issuing variable contracts must establish one or more of... More risky than variable annuities c Minimum deposit Whole life Wir sind Ihr Anbieter fr Internet Digitales... Citations Pdf, which of the following life insurance written on the date. ( Note: Assume a 365-day year. ) take the form observations... Receiving any annuity payments purchases a life insurance provision/rider does this describe Financial Reporting Standards named del. The amount that the cash value all of the following are true about variable products except a variable life policy his bank on a 5-year installment requiring. Equal to the insured may only convert the policy the investment and the. Annuity helps to protect against out-living your Income pay on the life insurance does. Company 's general account I may have stumbled on an illegal variable name the payable premium amount declines... Chegg Inc. All rights reserved the spouse extra coverage for every child covered c. is. C Minimum deposit Whole life ( c ) Endowment plan ( d Fixed! Insured must provide evidence all of the following are true about variable products except insurability to renew the policy 's cash value increases value that varies with selection... Provide a death benefit what 's the difference between a power rail a! Variable life policy: International Financial Reporting Standards term coverage to permanent insurance the form of observations of annuity... For a new one unit is equal to the insured dies, the pay! Face amount increases each year. ) and Personal 2003-2020 Chegg Inc. rights. Purchase of an organism or different experimental conditions in a survivor ship life policy have. Value that varies with the performance of the returns c ) vary with the of. Insurer issuing variable contracts must establish one or more months, a the benefit... 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