Mn life insurance license - Study guides, Class notes & Summaries

Insurance is a... - ️️transfer of risk What type of risk is gambling? - ️️Speculative Risk What type of risk is a car accident? - ️️Pure Risk What type of risk is insurable? - ️️Pure Risk uncertainty about whether a loss will occur - ️️Risk Risk Management Method Acronym - ️️STARR (sharing, transfer, avoidance, retention, reduction) Insurance company purchases insurance to cover their own exposure to loss - ️️reinsurance Loss Equation - ️️valu...

Insurance is a... - transfer of risk What type of risk is gambling? - Speculative Risk What type of risk is a car accident? - Pure Risk What type of risk is insurable? - Pure Risk uncertainty about whether a loss will occur - Risk Risk Management Method Acronym - STARR (sharing, transfer, avoidance, retention, reduction) Insurance company purchases insurance to cover their own exposure to loss - reinsurance Loss Equation - value before loss - value after loss = total amount of loss Reduc...

In what type of policy does the owner pay the same premium throughout the term of the contract? - ️️Level premium policy Which type of beneficiary CANNOT be changed without consent? - ️️The beneficiary is irrevocable How many totals hours of continuing education covering the subjects for which the license is licensed must complete? - ️️24 hours Accidental and dismemberment will pay the principal sum of death occurs: - ️️As a result of an accident regardless of when the a...

TEST BANK for Canadian Income Taxation Planning and Decision Making, 25th Edition by William Buckwold, Joan Kitunen, Matthew Roman, Abraham Iqbal, ISBN-7. All Chapters 1-23. (Complete Download) Version 1 1 CHAPTER 1 1) Which of the following is not considered to be a separate entity for tax purposes in Canada? A) An individual B) A proprietorship C) A corporation D) A trust 2) Which of the following attitudes and actions is most likely to help decision-makers develop an efficient app...

LIFE AND HEALTH INSURANCE LICENSE EXAM – MN WITH ACTUAL CORRECT QUESTIONS AND VERIFIED DEFINED ANSWERS ALREADY GRADED A+ GUARANTEED PASS

In what type of policy does the owner pay the same premium throughout the term of the contract? - correct answer Level Premium policy Which type of beneficiary CANNOT be changed without consent? - correct answer The beneficiary is irrevocable (imposible) How many total hours of continuing education covering the subjects for which the license is licensed must complete? - correct answer 24hours Accidental and dismemberment will pay the principal sum if death occurs: - correct answer A...

TEST BANK for Canadian Income Taxation Planning and Decision Making, 25th Edition by William Buckwold, Joan Kitunen, Matthew Roman, Abraham Iqbal CHAPTER 1 1) Which of the following is not considered to be a separate entity for tax purposes in Canada? A) An individual B) A proprietorship C) A corporation D) A trust 2) Which of the following attitudes and actions is most likely to help decision-makers develop an efficient approach to taxation? A) Cash flows should be considered from a...

TEST BANK for Canadian Income Taxation Planning and Decision Making, 25th Edition by William Buckwold, Joan Kitunen, Matthew Roman, Abraham Iqbal CHAPTER 1 1) Which of the following is not considered to be a separate entity for tax purposes in Canada? A) An individual B) A proprietorship C) A corporation D) A trust 2) Which of the following attitudes and actions is most likely to help decision-makers develop an efficient approach to taxation? A) Cash flows should be considered from a...

In what type of policy does the owner pay the same premium throughout the term of the contract? Correct Answers Level Premium policy Which type of beneficiary CANNOT be changed without consent? Correct Answers The beneficiary is irrevocable (imposible) How many total hours of continuing education covering the subjects for which the license is licensed must complete? Correct Answers 24hours Accidental and dismemberment will pay the principal sum if death occurs: Correct Answers As a resu...

MN Life Insurance Commissioner's Duties What is NOT a duty of the Commissioner? Options: a. Issue an insurance license for a producer; b. Make state insurance laws; c. Handle insurance-related consumer complaints; d. Enforce state insurance laws Answer: b. Make state insurance laws; Unfair Trade Practices What is an example of an unfair trade practice during policy solicitation? Options: a. Twisting; b. False advertising; c. Controlled business; d. Defamation Answer: d. Defamati...