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[Show more]A contract which one party undertakes to indemnify another against loss is called - Insurance. 
A father owns a life insurance policy on his 15-year-old daughter. The policy contains the optional Payor 
Benefit rider. If the father becomes disabled, what will happen to the life insurance premiums? -...
Preview 2 out of 8 pages
Add to cartA contract which one party undertakes to indemnify another against loss is called - Insurance. 
A father owns a life insurance policy on his 15-year-old daughter. The policy contains the optional Payor 
Benefit rider. If the father becomes disabled, what will happen to the life insurance premiums? -...
401k - qualified retirement plan that allows employees to take a reduction in their current salaries 
by deferring amounts into a retirement plan; company can also match the employee's contribution, 
whether it is dollar for dollar or a percentage; participants over age 50 can contribute additional...
Preview 3 out of 27 pages
Add to cart401k - qualified retirement plan that allows employees to take a reduction in their current salaries 
by deferring amounts into a retirement plan; company can also match the employee's contribution, 
whether it is dollar for dollar or a percentage; participants over age 50 can contribute additional...
A 25-year old full-time student is living off a trust fund. Why would he NOT qualify for an IRA? - He 
does not have earned income 
A college student will graduate next year. His studies have limited his ability to work, so he has borrowed 
funds to pay for his education - Modified whole life 
A den...
Preview 3 out of 21 pages
Add to cartA 25-year old full-time student is living off a trust fund. Why would he NOT qualify for an IRA? - He 
does not have earned income 
A college student will graduate next year. His studies have limited his ability to work, so he has borrowed 
funds to pay for his education - Modified whole life 
A den...
A couple receives a set amount of income from their annuity. When the wife dies, the husband no longer 
receives annuity payments. What type of annuity did the couple buy? - Joint Life. 
A universal life insurance policy has two types of interest rates, what are they? - Guanranteed and 
Current. 
Al...
Preview 2 out of 5 pages
Add to cartA couple receives a set amount of income from their annuity. When the wife dies, the husband no longer 
receives annuity payments. What type of annuity did the couple buy? - Joint Life. 
A universal life insurance policy has two types of interest rates, what are they? - Guanranteed and 
Current. 
Al...
Acceptance - When an insurer's underwriter approves the application and issues a policy 
Adverse selection - The insuring of risks that are more prone to losses than the average risk. 
Aleatory - An exchange of unequal amounts or values. 
"Ypu are not going to pay what you collect." 
Alien - Insu...
Preview 2 out of 5 pages
Add to cartAcceptance - When an insurer's underwriter approves the application and issues a policy 
Adverse selection - The insuring of risks that are more prone to losses than the average risk. 
Aleatory - An exchange of unequal amounts or values. 
"Ypu are not going to pay what you collect." 
Alien - Insu...
A prospective insured receives a conditional receipt but dies before the policy is issued. The insurer will... 
- Pay the policy proceeds only if it would have issued the policy 
An insured pays a $100 premium every month for his insurance coverage, yet the insurer promises to pay 
$10,000 for a cov...
Preview 1 out of 3 pages
Add to cartA prospective insured receives a conditional receipt but dies before the policy is issued. The insurer will... 
- Pay the policy proceeds only if it would have issued the policy 
An insured pays a $100 premium every month for his insurance coverage, yet the insurer promises to pay 
$10,000 for a cov...
________ refers to the situations that can only result in a loss or no change - pure risk 
#39. An agent accepts the premium payment 35 days after it is due, telling the insured that there will not 
be a problem keeping the policy in force. This is an example of what type of agent authority? 
a)Expr...
Preview 4 out of 182 pages
Add to cart________ refers to the situations that can only result in a loss or no change - pure risk 
#39. An agent accepts the premium payment 35 days after it is due, telling the insured that there will not 
be a problem keeping the policy in force. This is an example of what type of agent authority? 
a)Expr...
a 10% penalty must be paid on withdrawals made from a qualified plan before age 
a. 40 
b. 70 1/2 
c. 59 1/2 
d. 65 - C. 59 1/2 
A father owns a life insurance policy on his 15-year-old daughter. The policy contains the optional Payor 
Benefit rider. If the father becomes disabled, what will happen ...
Preview 4 out of 60 pages
Add to carta 10% penalty must be paid on withdrawals made from a qualified plan before age 
a. 40 
b. 70 1/2 
c. 59 1/2 
d. 65 - C. 59 1/2 
A father owns a life insurance policy on his 15-year-old daughter. The policy contains the optional Payor 
Benefit rider. If the father becomes disabled, what will happen ...
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