all of the following are true of insurance except all of the following are true of insurance except

Medical exams provide information on current health. b) Promptly forwarding premiums to the insurance company All of the following statement regarding credit life insurance are true, except: A. credit life insurance may be written on either and individual or group basis. D. Viatical settlement. Some life insurance policies offer cash values that can be borrowed at any time and used for immediate needs. C. Waiver of Estoppel 4)explain policy & provisions B. What are (4) ways annuities are classified? D. Premiums are tax deductible as a business expense, B. Question: All of the following statements about professional liability insurance are true, EXCEPT: Select one: O a. Payor benefit/Clause is always a _________. b) Outline of coverage ___________ is the persons whose death triggers payment. Numerical identifiers: Each candidate list entry covers both anhydrous and hydrated forms of a substance. Which of the following is the basic source of information used by the company in the risk selection process? &\text { Accumulated depr.-equipment }\\ A. 3)they provide insurance to members. B. A linear programming model developed to maximize profit is used to determine how many reservations to accept for each rental class. Agent Sam is using the human life value approach to assess Mary's life insurance needs. Group life insurance is most often issued as guaranteed annual renewable term. Example: AIL was incorporated in Indiana and its home office is in Texas so in NJ its considered a foreign insurer. The insured agrees to maintain insurance equal to some specified percentage of the value of the property. \hline \text { Jul 1 } & 5,500 &&\\ Liquidity in life insurance refers to availability of cash to the insured through cash values. The face amount decreases as the amount owed on the mortgage decreases. Correct: A.A peril. The issuance of a _________ is the result of the acceptance of an offer. A. In an insurance contract, the value that each party gives the other is called the: When an individual faces the risk of economic loss in the event of property damage, this indicates which of the following? 2)Foreign Insurer d) Military personnel. When will coverage begin? One sided contract is a ______________ contract. All of the following are restricted persons concerning the formulation of an insurance contract except: A producer has __________ authority when he accepts premium on a lapsed policy, and the insurer reinstates the policy. Their premiums are lower The US is the only developed nation without a system of universal healthcare, with a large proportion of its population not carrying health insurance, a . An agent has authority to do all of the following, except: A. Countersign insurance contracts Conditional Contract (4), 1)monthly B) A fiduciary is a producer who handles insurer funds in a trust capacity. How does having children affect the decisions that couples must make when considering a divorce? a) Consumer Privacy Act A mutual insurer has no stock, and is owned by the policyholders. * 50% is paid All of the following are options for managing risk, except: means of collecting a loss payment from a liable party. Rates All of the following statements are true of liability insurance, EXCEPT: Answer: liability coverage indemnifies the insured. A securities license. 3)Consideration 3. (b) Cash value accumulation is slow to moderate. 4. Which model is the better fit for the data? C) A licensee cannot knowingly employ an individual who has been convicted of a felony or crime of moral turpitude within the past 10 years to act in a fiduciary capacity. 1. 3)defined benefit plans (a) capital retention approach -assignor=assignee 4. d. 10 payment whole life, Chapter 12 - Life Insurance Contractual Provi, Chapter 15 - Individual Health Insurance Cove, Fundamentals of Financial Management, Concise Edition, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. a) Juvenile Life C. Unilateral contract The Aspect of the Dragons is obtained by defeating any Ender Dragon in the Dragon's Nest (except Superior) located at the bottom of The End. (d) indeterminate-premium whole life. Which of the following statements about universal life insurance is true? C. The insured may retain part of a risk through deductibles. d. falsely believing that a spouse has been A key person insurance policy can pay for which of the following? is proved to be untrue, whether intended as a falsehood or not, and may void the contract. Joe, Larry, and Curly own a small business. Predicted needs of the family after the insured's death are used in the needs approach. b. persistent fear of germs -ages 25,28,34,37,40 Rates. With a little work, an unused office area could be converted to a rental room. (a) They increase at an increasing rate. 3)mortality charge. B. D. The ratings are available to the public 4)Consumer report=credit, -shorter time span for paying premiums 2. All of the following are types of insurers except: The ________ Branch of the state government influences public policy regarding insurance laws. Beneficiary's age is not a suitability factor. A. b) A producer who handles insurer funds in a trust capacity. What is the difference between renewable policy holder & Insurer? B. (a) The insurance provides protection for a temporary period of time. All of the following are true of insurance except: Which of the following is NOT true about insurance? Beneficiaries are NOT required to sign the application unless they are also the owner. C. Medical Background The CAS number shown in an entry is typically . -But pays you interest, 1)Fixed annuity *Both not taxable. 1. What are the two options in death benefit options? Round Trees management makes a forecast of the demand by rental class for each night in the future. It is the specific cause of loss. B. -car accident not in conjunction with an illness A. 4)Explain the policy and its provisions Weiss and Fitch are two of these services, although there are more. C) An insurance contract must contain a copy of the original application. A. a) Premium amounts and surrender values (3), WHat is the difference between universal and whole life policies? Coverage is available in $50,000 increments up to the maximum of $400,000. 3) Equity-Index annuity. \\ B. Avoidance Two years ago he suffered a head injury from an accident, so he cannot remember parts of his past, but is otherwise competent. b) Increasing Premium b. All of the following are true of negligence, except: a. \hline & \text { Jul 31 } & 58,000 D. The face amount remains the same throughout the life of the policy. B) The parent is responsible for the premium. -pay for certain time and stop C) Because an insurance company's strength and stability are two very crucial factors in its sustainability, independent rating services have formed to publish regular updates on the financial integrity of different insurance companies. cheating. All of the following characterize term life insurance, EXCEPT: Select one: a. According to the entire contract provision, what document must be made part of the insurance policy? The insurance contract is a _________ because the court will usually interpret in favor of the insured when an insurance policy is not clear. A color-coded map illustrating the current legal status of elective-specific abortion procedures in each of the individual 50 states of the United States of America; plus U.S. territories and federal district [a] As of January 31, 2023 Illegal Legally unclear or legal but no providers Legal before cardiac-cell activity [b] Legal through 15th week LMP (1st trimester) Legal through 18th week LMP . Conviction of a felony involving moral turpitude. What is NOT invested in the stock market but pays you interest? The company records manufacturing costs by job number and uses a factory overhead applied rate to charge overhead costs to its products. 1)policy owner can increase/decrease/ or skip premium payments c) The inspection report A. contract of adhesion Prior to October 2017, the company had been profitable every month. Why?". B. IRS has no jurisdiction Be prepared to justify your answer. a) Universal life The cost of a living rider is calculated by what? _____________ is a statement that is true to the best of the persons knowledge that is making the statement. Who might receive dividends from a mutual insurer? (c) term insurance (a) universal life insurance. b) Cost of living rider. b. D) the minor in a juvenile policy. If you don't have health insurance, you pay all costs for healthcare and medical emergencies. 1) Family Maintenance(breadwinner) -paying for certain time and stop. Which of the following would least likely be considered a legitimate need that would be paid by insurance proceeds? C. Application The 3 categories of private insurers site of incorporation? a) The policy can be converted to term coverage. B. d) Blackout approach. Newborns after how many days become covered in a child rider? Signed waiver of premium A) They must be given to all Life insurance applicants. (b) They increase at a decreasing rate. Question: 55. A person cannot buy insurance unless that person is in a position to suffer a financial loss. Type I rooms do not have wireless Internet access and are not available for the Business rental class. 3)semi-annual d) Primary and secondary beneficiary designations. What are two reasons that people deposit money in banks? Reinsurer Assuming company. 4)annual, Everytime you have a payment due. A) Tax-qualified annuities are used to accumulate IRA funds on a tax-deferred basis. Social Security is designed to provide a base of economic security B. Out of 20 yr or 30 yr which policy is less expensive? Is claim still paid if there is a misstatement of age or sex? Participating policy. The correct answer is: The premium decreases to zero by the end of the policy period. When an agent collects the initial premium from the applicant, the agent should issue the applicant a. 1) Conditional Reciept 2) profits are returned as dividends Past-due interest on a policy loan is added to the total debt. D) Obtaining a bachelor's degree. You cannot sell a variable policy without what? Type of insurance contract that pays its death benefit only during a specified period of time and nothing after that stipulated period. All of the following are personal uses of life insurance EXCEPT, All of the following are true of key person insurance except, D. The plan is funded by permanent insurance only. (c) The number of times the coverage can be renewed is limited. The penalty is 50% of the shortfall from the required annual amount. \end{array} 1) Avoiding the risk The failure to disclose known facts is what? C. State Education Waiver D) The suicide provision protects the company from those individuals who purchase life insurance with the intention of committing suicide. (b) Any withdrawal of cash value reduces the death benefit. RentalClassRoomTypeITypeIISuperSaver$30$20Deluxe$35$30Business$40. 4)defined contribution plans.