Michigan life accident - Study guides, Class notes & Summaries

What is considered to be the primary reason for buying life insurance? - Answer-Provide death benefits Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Feguson Act, what is the minimum penalty for this? - Answer- $10,000 or up to 1 year in jail A nonparticipating company is sometimes called a(n) - Answer-Stock insurer, because policyholders do not participate in dividends resulting from stock ownership. ...

Indiana State Life and Health Insurance Exam Questions and Answers Already Passed How many days is a temporary producers license valid? 30 60 90 180 180 In Indiana, the maximum fine the the commissioner can impose on a producer or company who violates a cease and desist order is___per violation? $10,000 $15,000 $20,000 $25,000 $25,000 Which of these is an example of twisting? A producer maliciously aligns another insurance company's financial status A producer misrepresents a policy ...

Michigan Life and health accident exam questions and answers

What is considered to be the primary reason for buying life insurance? - ANSWER Provide death benefits Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Feguson Act, what is the minimum penalty for this? - ANSWER $10,000 or up to 1 year in jail A nonparticipating company is sometimes called a(n) - ANSWER Stock insurer, because policyholders do not participate in dividends resulting from stock ownership. ...

Michigan Life and Health Final Exam Actual Questions and Answers 100% Correct What amount will be paid under a policy where the insured misstated his/her age? ANS-an amount the premium would have purchased at the correct age the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days ANS-30 days which of these is considered to be a Living benefit option in a life insurance policy ANS-Accelerated death benefit loans o...

Michigan Life Accident & Health Exam Questions With Verified Answers What is considered to be the primary reason for buying life insurance? - answerProvide death benefits Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Feguson Act, what is the minimum penalty for this? - answer$10,000 or up to 1 year in jail A nonparticipating company is sometimes called a(n) - answerStock insurer, because policyhold...

bioethics correct answer: The study of ethics related to issues that arise in health care. ethics correct answer: sustained and intentional reflection on morality and the moral life with analysis, discontent, reasoning, and arguments moral rules or principles of behavior that should guide members of a profession or organization and make them deal honestly and fairly with each other and with their custom utilitarianism correct answer: 1 fundamental moral good-to maximize outcomes of ...

The Commissioner of Insurance is appointed by the Governor for a term of ️ 4 years All of the following are examples of insurance transactions except: A. soliciting applications for insurance B. delivering policies C. licensing of producers D. collecting premiums ️ Correct answer: C - licensing of producers A temporary license issued to close the affairs of a deceased producer may be issued for up to _____ days at the discretion of the Commissioner ️ 180 days Continuing Education...

Michigan Life, Accident, and Health

What is considered to be the primary reason for buying life insurance? Correct Answers Provide death benefits Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Feguson Act, what is the minimum penalty for this? Correct Answers $10,000 or up to 1 year in jail A nonparticipating company is sometimes called a(n) Correct Answers Stock insurer, because policyholders do not participate in dividends resulting f...