The agent producer is - Study guides, Class notes & Summaries

UNITED HEALTHCARE (UHC) – ETHICS AND COMPLIANCE LATEST 2023-2024 EXAM| ACTUAL QUESTIONS AND VERIFIED ANSWERS Version 2 |A+ GRADE Q: John has Power of Attorney to act on behalf of his mother. What does that mean when it comes to his mother enrolling in a Medicare Advantage Plan? Answer: John may sign the Enrollment Application and must be able to provide documentation upon request by the Plan that indicates his authority under state law to enroll his mother. Q: In which of the...

South Carolina Life Insurance Producer Exam Questions and Answers 2023 Producer - ANSWER Independent Insurance Agents also known as insurance sales agents that typically sell a variety of Insurance and financial products. resident producer - ANSWER An agent who holds an insurance license in the state in which they live non-resident producer - ANSWER Agents who hold an insurance license in a different state than the one they live Broker - ANSWER agents that work on behalf of life insu...

The purpose of legal procedure is to ensure that each party receives A. ongoing advice. B. consistent treatment. C. a reasonable verdict. D. an indictment. - Answer- b Wal-mart, Chevron Texaco, and Ford Motor Company sell stock in their companies. They are examples of which of the following types of business ownership: A. Franchisee B. Corporation C. Partnership D. Sole proprietorship - Answer- b Channels of distribution benefit businesses by A. lowering the prices of all indu...

WA Life and Disability Producer Combo Questions with Verified Solutions If a company provides group disability insurance to its employees, which of the following may be tax deductible? The premiums paid by the company as a business expense Which provides benefits for expenses incurred as a result of in-hospital medical treatment and surgery as well as certain outpatient expenses such as doctor's visits, laboratory tests, and diagnostic services? Hospitalization insurance Compared t...

policy owner - usually, but not always the person covered by the policy beneficiary - the person who is paid when a claim is submitted agent/producer - acts as a legal representative of the insurance company broker - representative of the Insured, not the insurance company risk - The chance or uncertainty of loss Pure risk - the chance of experiencing a loss (without the possibility of gain). Only downside, no upside. Speculative risk - s the chance of loss one accepts in the hope of re...

P completes an application for a $10,000 life policy, but does not give the producer the initial premium. P's coverage becomes effective when P receives the policy and pays the premium A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of these statements made by the producer would be carrer? 20-Pay Life accumulates cash value faster than Straight Life How does an indexed...

Accident - Answer-A sudden event, unforeseen and unintended Claim - Answer-A demand for payment under the insurance policy Absolute assignment - Answer-A transfer by the policy holder of all control and rights to a third party Accident and Sickness - Answer-Insurance against bodily injury, disability or death by accident, or against disability or expense resulting from sickness, and the insurance relating thereto Accidental Means - Answer-The unexpected cause of an accidental bodily injury....

Which of these is NOT considered to be a violation of the Unfair Competition Law in Indiana? monopolize or restrain trade making unsubstantiated criticisms about an insurance company pay insurance commissions to an unlicensed individual paying a finder's fee to an individual who provides a sales lead - correct answer paying a finder's fee to an individual who provides a sales lead A viatical settlement agent, according to the Indiana Department of Insurance, is an individual who f...

SC Property, Casualty, Surety, Marine Exam Questions and Answers 100% Answered!!Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by...

Law 3220 Exam 4 Clemson Latest Update Graded A Agency An agency is created when a person or company (an agent) agrees to act for or in place of another person or company (the principal) Parties in an Agency -The principal creates authority in an agent -The agent receives authority and carries out the principal's instructions -Third parties make contract or are involved in torts with the agents Disclosed Principal Identity of principal is known by the third party at time of making of contract ...