Rebating - Study guides, Class notes & Summaries

A Surplus Lines Producer may collect a fee from the Insured to fund the Surplus Lines Advisory Board. This fee is known as the? Answer - stamping fee An inducement to purchase an insurance policy is: Select one: ation ing Answer - rebating A nonresident producer licensed in Montana may sell: Select one: insurance that is otherwise lawfully sold in the state of Montana. those types of insurance that the producer could have sold in the producer's state of residence. Answer - only th...

Which type of coverage relates to damage to or destruction of detached structures in a typical homeowners policy? Coverage B Coverage A Coverage D Coverage C CORRECT ANSWER Cov B The unfair trade practice of offering inducements for the purchase of insurance is called? controlled business rebating misrepresentation false advertising CORRECT ANSWER rebating In which type of group life insurance policy may the holder allocate the net premiums to one or more of seve

Wisconsin Accident and Health Insurance Exam Questions and Correct Answers 100% 1. Dividends from a stock company are normally sent to: Beneficiaries Shareholders Policy holders Insureds--: correct answer :-- Shareholders 2. Which of the following financial products creates an instant estate, no matter when the date of death? Mutual funds Life insurance Certificate of deposit Deferred annuity--: correct answer :-- Life insurance 3. Which of the following outlines the authority given to...

1. The information an insurance agent must collect for customer identification purposes depends on a. the amount of money the customer is worth. b. The amount of money the customer spends. c. whether the insurance product the customer is purchasing at a low or high risk for money laundering. d. the size and resources of the insurance company. - Answer- c. Whether the insurance product under consideration is at a low or high risk for money laundering 2. When Tom Jensin mixes illicit and le...

Which type of coverage relates to damage to or destruction of detached structures in a typical homeowners policy? Coverage B Coverage A Coverage D Coverage C correct answers Cov B The unfair trade practice of offering inducements for the purchase of insurance is called? controlled business rebating misrepresentation false advertising correct answers rebating In which type of group life insurance policy may the holder allocate the net premiums to one or more of sever...

ALASKA LIFE AND HEALTH INSURANCE STATE EXAM 2024 WITH 100% CORRECT ANSWERS ___ is the act of offering an applicant something of value as an inducement to purchase an insurance policy - correct answer Rebating ___ is the authority given to a producer to transact business on behalf of the insurer. - correct answer appointment ___ of personal life insurance premiums is usually deductible for federal income tax purposes. - correct answer 0% ___is the act of replacing existing life insu...

What kind of life insurance product covers children under their parent's policy? Family Maintenance rider Term rider Family Income rider Payor benefit - ANSWER Term Rider Under a trustee group life policy, who would be eligible for a certificate of coverage? Corporation Employee Employer Labor union - ANSWER employee A producer must report to the Commissioner of Insurance any administrative action or criminal charges taken against the producer within __ days of the fin...

In GA, insurance cannot be written by a reciprocal type insurer.: life No insurer or licensee doing business in Georgia may pay any commissions or valuable consideration to any person for services as an agent, subagent, or adjuster unless that person is duly licensed under the: Code Mediation is not on the parties involved, but with arbitration the decision is final and .: Binding Standard and Poor's, A.M. Best and Moody's are examples of:: Independent Rating Services What is the applicat...

5.- Colorado Statutes, Rules, and Regulations Common to All Lines Questions and Answers 100%Pass A producer is required to permit premiums from a trust account to the insurer within how many days of receipt? - Correct Answer ️️ -45 days Which of the following accurately describes the ability of a licensed Colorado resident producer to become licensed in other states? - Correct Answer ️️ -The producer can get a nonresident license in all reciprocal states All of the following woul...

___ is the act of offering an applicant something of value as an inducement to purchase an insurance policy - correct answer Rebating ___ is the authority given to a producer to transact business on behalf of the insurer. - correct answer appointment ___ of personal life insurance premiums is usually deductible for federal income tax purposes. - correct answer 0% ___is the act of replacing existing life insurance with a new life insurance policy based upon incomplete or incorrect repres...