Illegal inducement - Study guides, Class notes & Summaries

PA Health, Life and Accident insurance exam part 2 Latest Update Graded A+ Which of the following is considered to be an alternative to a life settlement? Accelerated death benefit rider The document that describes policy features, benefits, exclusions, and riders in Long-Term Care policy is known as Outline of Coverage No Long-Term care may exclude pre-existing conditions for a period of more than 6 months The cause of a loss is referred to as Peril Which of these statements a...

Which of the following would not be an illegal act? A. Guaranteeing a future profit for the sale of real estate B. Circulating an unjustified threat of legal proceedings C. An agent advertising a seller's inducement D. Refusing to give a seller a copy of the listing contract An agent advertising a seller's inducement Which of the following would not be grounds for revocation of a license? A. Entering an "Alford" plea to a felony B. Being convicted of a misdemeanor involving sex...

Minimum Age to receive a license - Answer-18 Continuing Education Hours - Answer-24 Hours every 2 years (3 Hours must be in ethics) Insurer must respond to claimant communications within how many days? - Answer-15 days Commissioner Powers and duties include: - Answer-Imposing penalties, including fines, suspensions, and revocations. All insurance forms (riders, policies, applications, endorsements, and contracts) must be filed and approved by the Commissioner. Gramm-Leach-Bliley Act (GLBA...

Xcel Final Exam Questions and Answers 100% Pass Typically, Long-Term Disability benefits are coordinated with which benefit plan? Social Security The focus of major medical insurance is providing coverage for medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? $200 because this policy has a zero deductible, the insure...

What amount will be paid under a policy where the insured misstated his/her age? - 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 - 30 days which of these is considered to be a Living benefit option in a life insurance policy - Accelerated death benefit loans obtained by a policy owner against the cash value of a life insurance policy - would n...

Which of the following requires the use of the Licensee Buyout Addendum to the contract to Buy & Sell? - A broker is offering a guarantee as an inducement to list with his company The buyer notifies the seller in writing of a termination of the contract under the Loan Objection Deadline. What happens to the earnest money? - The broker must immediately return the money to the buyer The illegal practice of inducing homeowners to sell their properties by making representations about the prosp...

Property and Casualty Insurance Exam – Georgia correctly answered 2023 rated A+BPP building coverage insures the building at the described location, outdoor, fixtures, furnitures, items used to service the property, permanently installed machinery and equipment, and additions under construction, including the materials, supplies, and equipment. HO limits of property at other residences the larger of $1000 or 10% Coverage C. Limit does not apply if property is moved because the residen...

NJ Accident and Health Producer Latest Update Graded A+ Life income joint and survivor settlement option guarantees... Income for 2 or more recipents A participating insurance policy may do which of the following:... Pay dividends to the policy owner What is TRUE about the cash surrender nonforfeiture option? Funds exceeding the premiums paid are taxable as ordinary income Participating Insurance policy will... pay dividends to the owner based upon mortality cost, interest earned an...

Department of Insurance Regulations: 5 years correct answers Examination of insurers 30 days correct answers Approval period for policy rates Licensing and Appointment Requirements: correct answers 18 years correct answers Minimum age to apply for a producer license 2 years correct answers Producer licensing period 1 year correct answers To reinstate voluntarily surrendered or lapsed license 15 days correct answers Insurer must file a notice of producer appointment 30 d...

TELEPERFORMANCE PRE TEST QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION A commission for selling insurance may not be paid to a person other than a licensed insurance: A) Broker. B) Consultant. C) Advisor. D) Producer. Ans- D) Producer. Insured risk classification may be based upon which one of the following criteria? A) Creed or national origin. B) Race or color. C) Age or health. D) Religion. Ans- C) Age or health. A producer may not be compensated for controlled business u...