Illegal inducement - Study guides, Class notes & Summaries

Producer Independent Insurance Agents also known as insurance sales agents that typically sell a variety of Insurance and financial products. resident producer An agent who holds an insurance license in the state in which they live Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:02 / 0:15 Full screen non-resident producer Agents who hold an insurance license in a different state than the one they live Broker agents...

Tennessee Laws and Rules Common to All Lines Quiz with Complete Solutions Rebating is an unfair trade practice and is regulated by law. All of the following would be considered to be rebating EXCEPT. A. An agent offers tickets to a baseball game as an inducement to buy insurance. B. An agent uses misrepresentation to convince a person to cancel an existing policy and take a new policy from him. C. An agent offers the use of his lake house to person as an inducement to buy. D. An agent ...

Kentucky Health Insurance Exam Prep | Questions and Verified Answers| 100 % Correct| Grade A (Latest 2024/ 2025 Update) Q: Premium payments for personally-owned disability income policies are... A. Tax deductible to the extent that they exceed 10% of the adjusted gross income of those itemizing deductions. B. When the premiums and other unreimbursed medical expenses exceed 5% of the employee's adjusted gross income. D. An employee's group medical benefits are generally exempt from taxatio...

A - UTAH: A person applying for an adjuster's license in Utah must (BSPEBS): correct answers * Be at least 18 years old * SSN * Personal History * Experience * Business Record * Submit a non-refundable fee B - UTAH: A non-resident agent (a new agent) moving into Utah must apply within __________ days to become a resident licensee. correct answers 90 C - UTAH: Qualifications: A licensee must - correct answers * At least 18 years old * Good faith * No controlled business * No ground...

Arizona Life Insurance Exam - Insurance Regulations Latest 2024 Graded A Cease and Desist To stop or discontinue Coercion Forceful act or threat aimed to influence a person to act against his or her will Commission Payment to the agent by the insurance company for placing insurance, usually a percentage of the policy premium Director The head of the state Department of Insurance Exempt Not subject to an obligation Home State A state in which an insurer is organized and has its main place of...

Producer - ANSWERSIndependent Insurance Agents also known as insurance sales agents that typically sell a variety of Insurance and financial products. resident producer - ANSWERSAn agent who holds an insurance license in the state in which they live non-resident producer - ANSWERSAgents who hold an insurance license in a different state than the one they live Broker - ANSWERSagents that work on behalf of life insurance companies to help potential customers navigate the process of buying...

New York Adjuster Exam Questions and Answers Already Passed Offering any return of premium, valuable consideration or inducement when purchasing an insurance policy is an example of: I. Illegal Inducement II. Rebating Under a watercraft or yacht policy how claims are settled: Actual cash value When may an insured sue an insurance company? Not until the insured has complied with all policy provisions and within the time limit specified in the state laws What is the definition of a non-res...

cease and desist - ANSWERto stop and discontinue commission - ANSWERpayment to the agent by the insurance company for placing insurance, usually a percentage of the policy premium Exempt - ANSWERnot subject to an obligation Home state - ANSWERinsurer's headquarters, principal place of business Inducement - ANSWERan offer that attempts to influence the other party Moral turpitude - ANSWERconduct that is contrary to community standards of justice, honesty or good morals Reciproc...

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 insures is only responsible for the 20% coinsurance on th...

New York Adjuster Exam Questions and Answers Already Passed Offering any return of premium, valuable consideration or inducement when purchasing an insurance policy is an example of: - Answer ️️ -I. Illegal Inducement II. Rebating Under a watercraft or yacht policy how claims are settled: - Answer ️️ -Actual cash value When may an insured sue an insurance company? - Answer ️️ -Not until the insured has complied with all policy provisions and within the time limit specified in ...