K buys a policy where the - Study guides, Class notes & Summaries

At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? - ANSWER Upon completion of the application Who elects the governing body of a mutual insurance company? - ANSWER policyholders An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the - ANSWER Fair Credit Reporting Act What type of reinsurance contract involves two companies automatically sharing their ri...

ETS MFT BUSINESS EXAM The principal difference between variable costing and absorption costing centers on: a) whether variable manufacturing costs should be included as product costs b) whether fixed manufacturing costs should be included as product costs c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs d) none of these. General Bikes is debating which marketing research options to employ. The traditional p...

nutrition science - test banks, Package Title: Test Bank Course Title: Smolin4e Chapter Number: 2 Question Type: Multiple Choice 1) Recommended Dietary Allowances were first published in which decade? a) 1920s b) 1940s c) 1960s d) 1980s Answer: b Difficulty: Easy Learning Objective: LO 2.1 Identify the reasons for population-wide nutritional recommendations. Section Reference: Section 2.1 The Development of Nutrition Recommendations 2) Which is NOT...

NC Life Insurance Exam Prep An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner - A policy summary and buyer's guide All of the following actions are considered rebating EXCEPT - Sharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide? - Premiums are waived if payor becomes disabled An agent who signs a blank contract application or policy of insurance - Is guilty of...

Jumping Juvenile - Any life insurance written on the life of a minor - Face amount increases at a predetermined age, often 21 - The face amount jumps but the premium remains level 401 K Plan A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Assignment Clause Owner can assign policy ownership either- Absolute: permanent Collateral: temporary Accelerated Death Benefit Rider Policy provision that allows early payme...

VA Life Insurance Practice Exam (90 Xcel) Questions and Answers 100% Pass P is a producer who notices 5 questions on a life application were not answered. What actions should P take? Set up a meeting with the applicant to answer the remaining questions K buys a policy where the premium stays fixed for the first 5 years. The premium then increases in year 6 and stays level thereafter, all the while the death benefit remains the same. What kind of policy is this? Modified Whole Life W...

P is a producer who notices 5 questions on a life application were not answered. What actions should P take? Set up a meeting with the applicant to answer the remaining questions K buys a policy where the premium stays fixed for the first 5 years. The premium then increases in year 6 and stays level thereafter, all the while the death benefit remains the same. What kind of policy is this? Modified Whole Life Which of the following would be a valid reason for suspending or revoking an insurance...

NC Life Insurance Exam Prep Questions and Answer An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner - Answer- A policy summary and buyer's guide All of the following actions are considered rebating EXCEPT - Answer- Sharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide? - Answer- Premiums are waived if payor becomes disabled An agent who signs a blank contract application...

P is a producer who notices 5 questions on a life application were not answered. What actions should P take? - Answer- Set up a meeting with the applicant to answer the remaining questions K buys a policy where the premium stays fixed for the first 5 years. The premium then increases in year 6 and stays level thereafter, all the while the death benefit remains the same. What kind of policy is this? - Answer- Modified Whole Life Which of the following would be a valid reason for suspending ...

Florida Life Insurance Test 100% Correct Answers S buys $100,000 whole life policy in 2003 and pays an annual premium of $100. S dies five years later in 2008 and the insured pays the beneficiary $10,500. What kind of writer did S include on the policy? - Correct Answer ️️ -A Return of permium rider All of these statements about the Waiver of Premium provision are correct EXCEPT - Correct Answer ️️ -Insured must be eligible for Social Security disability for claim to be excepted W...