A Securities (A) The agent knows a new policy will take the place of an existing policy(B) An existing policy is subjected to a loan of 10% of its value(C) An existing policy is allowed to lapse(D) An existing policy is reissued with a reduced cash value, (B) An existing policy is subjected to a loan of 10% of its value. Anytime, anywhere. B Premium D The insured, At age 30, an applicant wants to start an insurance program, but realizing that his insurance needs will likely change, he wants a policy that can be modified to accommodate those changes as they occur. C) such an annuity is designed to combat inflation risk. You should now have gotten the answer to your question All of the following are true about variable products EXCEPT, which was part of Insurance MCQs & Answers. C Whole life The policyowner of an adjustable life policy wants to increase the death benefit. Annuity mortality tables reflect a greater life expectancy than do life insurance tables, and annuities are sold to give a greater income at an older age, whereas life insurance is sold to create an immediate income in the case of premature death. I may have stumbled on an illegal variable name. A The borrower's annual income. D Higher. A Increasing term The change in credit terms is expected to increase sales to $510,000. Lengthening the credit period Parker Tool is considering lengthening its credit period from 30 to 60 days. D) They are both tied to an equity index, C) They have a guaranteed minimum interest rate, The equity in an equity index annuity is linked to What would be the right policy for this client? A Until the policyowner reaches age 65. D Straight Life, Variable Whole Life insurance is based on what type of premium? Jenny Han Husband, t will increase because the insured will be 5 years older than when the policy was originally purchased. D Single premium whole life. C Straight Life D) All Fixed Annuities are Deferred Annuities. When the insured dies, the insurer pays the remaining balance on his home loan. A man decided to purchase a $100,000 Annually Renewable Term Life policy to provide additional protection until his children finished college. D) The death benefit can be increased only by exchanging the existing policy for a new one, A) The death benefit can be increased by providing evidence of insurabillity, Which statement is NOT true regarding a Straight Life policy? C) It has the lowest annual premium of the three types of Whole Life policies B Variable Life A) The contract pays only in the event of death during the term and there is no cash value An insured buys a 5-year level premium term policy with a face amount of $10,000. D Joint life, A Straight Life policy has what type of premium? D Graded premium whole life. (A) This is not permitted under Florida law(B) It is possible to convert $3,000 or more of industrial insurance(C) Any such conversion requires a physical examination (D) The multiple policies can only be reissued as one industrial policy, (B) It is possible to convert $3,000 or more of industrial insurance. A Juvenile life A Continue to increase. B Sale of this product requires a securities license. B A money market account. B Universal life A Variable life When would a 20-pay whole life policy endow? Gerald wants a life insurance policy in which he can choose the investment vehicle. A dose friend is starting a new landscaping business around an inland lake used by summer vacationers. I'm aware that some keywords are verboten as variables. C Lower. Because all payments cease upon the annuitant's death, the amounts of the monthly income payments are larger while the annuitant is alive, than under any other option. All of the following are true about variable annuities except. C) The insurance Company C Option B C Death benefit Like many other large corporations, Frito-Lay is striving to establish its green credentials as consumers become more focused on environmental issues. What type of insurance would be the most affordable and still provide a death benefit should one of them die? A) During this of time the annuity payments grow interest tax deferred Browse over 1 million classes created by top students, professors, publishers, and experts. B The creditor can only insure the debtor for the amount owed. D Juvenile Life is classified as any life insurance purchased by a minor. C The creditor may insure the debtor for an unlimited amount of coverage. Gerald would be able to choose where he wants his premiums invested with a variable life insurance policy. The following information is available for the year ended December 31: Beginning Raw Materials + Purchases Ending Raw Materials = Raw Materials Used All of the following statements about the conversion of a term policy are true EXCEPT. Which of the following policies would most likely fit his needs? C) Most term policies contain a convertibility option B The type of investment. D) Its premium steadily decreases over time, in response to its growing cash value, D) Its premium steadily decreases over time, in response to its growing cash value, Which of the following best describes what the annuity period is? Which of the following is another term for the accumulation period of an annuity? 11) All of the following are true EXCEPT that indirect costs: A) may be included in prime costs. Site design / logo 2023 Stack Exchange Inc; user contributions licensed under CC BY-SA. Fr: 7:30-12 Uhr. Which of the following is true? C) They are less risky than variable annuities 11) All of the following true EXCEPT that indirect costs: 11) All of the following true EXCEPT that indirect costs: : 1869182. How to derive the state of a qubit after a partial measurement? C) Payments into the annuity are kept in the company's general account A) Level Term Life D Adjusted to the insured's age at the time of renewal. Which of the following best describes annually renewable term insurance? A Adjustable Life The payable premium amount steadily declines throughout the duration of the contract. C To protect the policyowner All of the following are correct about the policy loan interest rate EXCEPT: (A) an adjustable rate of interest can be charged(B) an insurance company can charge a fixed rate of up to 10%(C) adjustable interest rates are based on a published index(D) there are no restrictions or limitations on policy loan interest rates, (D) there are no restrictions or limitations on policy loan interest rates. Which of the following is NOT required when a group life insurance policy is cancelled? To sign up you must be 13 or older. Bad-debt expenses will increase from 1% to 1.5% of sales. C Federal government. (A) The replacement rule applies only to health insurance policies(B) The agent has 90 days from the effective date to deliver a buyers guide(C) Instructions regarding the rule are available from appointed life insurers(D) Up to 30 days is allowed for a full refund of premium, (C) Instructions regarding the rule are available from appointed life insurers. The amount to be repaid under the contract. A) The face value of the policy is paid to the insured at age 100 A density curve describes the probability distribution of a . The death benefit under the Universal Life Option B At Frito-Lay's Florida plant, only 3.5%3.5 \%3.5% of the waste goes to landfills, but that is still 1.51.51.5 million pounds annually. A man purchased $90,000 annuity with a single premium, and began receiving payments 2 months after that. B) Level fixed premium When the breadwinner that is insured by a Family Policy dies, what rights are provided to other family members that are covered under the policy? C) 10% penalty plus tax on the interest earned in the annuity. B Level term life. B) They invest on a conservative basis B Entire contract. A Annually Renewable Term B) Federal government A) A decreasing annual premium for the life of the insured B Level Term Life There are benefits besides the potential energy savings. Question: All of the following are true about perfect competition firms EXCEPT:a.Products produced by competitors are homogeneous.b.Firms are price takers.c.Prices are set by the market.d.There are only a small number of companies. C In 20 years Which of the following has the right to convert the existing term coverage to permanent insurance? A Life annuity with period certain If at the end of this period the father is still disabled, the insured will be refunded the premiums. D) An increasing annual premium for the life of the insured, C) A level premium for the life of the insured, Which of the following is NOT true regarding Equity Indexed Annuities? B Whole life Numro Virtuel Algrie Gratuit, D Upon conversion, the premium for the permanent policy will be based upon attained age. D Aleatory contract. C) Owners of individual annuities have contractual rights beginning at the time of purchase. The goal is zero waste to landfills. C) A level premium for the life of the insured D Be level thereafter. C Accumulation of cash value V. Insured. B) The face amount steadily declines throughout the duration of the contract A The coverage period The managers at the Casa Grande plant have also installed skylights in conference rooms, offices, and a finished goods warehouse to reduce the need for artificial light. Updated the ans. A It will increase each year during the next 5 years as the face amount increases each year. A Equity Indexed Universal Life A Usually a parent or guardian is the applicant for insurance on the life of a minor. I. 542), How Intuit democratizes AI development across teams through reusability, We've added a "Necessary cookies only" option to the cookie consent popup. D) The funds are invested in the company's general account, C) The annuitant assumes the risks on investment, Which of the following is an example of a limited-pay life policy? When an annuity is written, whose life expectancy is taken into account? C It has the lowest annual premium of the three types of Whole Life policies. All of the following are true about variable products EXCEPT A. Policyowners bear the investment risk B. the premiums are invested in the insurer's general account C. the minimum death benefit is guaranteed D. the cash value is not guaranteed Answer: B. the premiums are invested in the insurer's general account In an Adjustable Life policy all of the following can be changed by the policy owner EXCEPT A Decreased death benefit at each renewal. B Modified Endowment Contract (MEC). A The face value of the policy is paid to the insured at age 100. C) The annuitant must be a natural person must be spelled exactly as written here: So, you cannot use any of the above identifiers as a variable name. A) The insurance company keeps a percentage of the returns Coming new to a python 3.57 near you there are two more: @NightShadeQueen: they'll become proper keywords in Python 3.7. Experts are tested by Chegg as specialists in their subject area. D Level fixed. Which of the following is TRUE regarding the insurance amount in a credit life policy? C Family Income Policy A The death benefit can be increased only by exchanging the existing policy for a new one. All other factors being equal, what would the premium be like in a survivor ship life policy as compared to the premium in a joint life policy? Twin brothers are starting a new business. Strange behavior of tikz-cd with remember picture. B Guaranteed Universal Life B Second-to-Die What would be the right policy for this client? Which of the following errors is the most significant problem in measuring insurer profitability? What is the fitted value in May 2019 ? C Graded The following are features of the Indexed Universal Life EXCEPT. C Since it is the policyowner, and not the insured, who has become disabled, the life insurance policy will not be affected. Variable whole life has a guaranteed death benefit. A father owns a life insurance policy on his 15-year-old daughter. B Temporary protection If the father becomes disabled, what will happen to the life insurance premiums? B Interest-sensitive Whole Life Click Submit to complete this assessment. D) The insurance company's general account investments, A Straight Life policy has what type of premium? C SEC registration. C Variable Universal Life D Gradually increases each year by the amount that the cash value increases. C Whole Life Policy D Creditor is the policyowner. C It insures the life of a debtor. All of the following statements are correct about a participating policy EXCEPT: (A) dividends are not considered in comparison to nonparticipating policies(B) dividends are paid to the policyowner(C) dividends may be used to pay premiums(D) dividends may be left with the insurer to accumulate interest, (A) dividends are not considered in comparison to nonparticipating policies. A Producer Q1. Which of the following is NOT allowed in credit life insurance? A) Flexible premium B The policy's guarantees. Annuities do not fund Term Life Plans; the Life Income Option pays more than any other option; and annuities are long-term as opposed to short-term savings plans. He believes that he will not need extra capital for personal living expenses, since the business will generate immediate revenue to cover all living and business expenses. Informative Essay Army Values, The beneficiary received the balance of the cost of the contract because it was a refund life annuity. C) vary with the selection of the cost object. A) Death benefit C Variable Universal Life Which of the following are the three major goals of insurance rate regulation? 14) The same cost may be direct for one cost object and indirect for another cost object. C) It has modest investment potential Some variable names are illegal in Python because of it being a reserved word. A Complete contract. II. B Surplus Lines The policy is a/an C Free look Its premium steadily decreases over time, in response to its growing cash value. C An amount set by statute and adjusted regularly for inflation. C) Renewable or convertible D) The insurance company keeps a percentage of the returns, C) They earn lower interest rates than fixed annuities, Which of the following is TRUE for both equity indexed annuities and fixed annuities? What problems can you foresee and what advice would you give to your friend? (A) It must have been in existence for at least 2 years(B) It must have at least 200 members that participate(C) It must be formed for the sole purpose of purchasing insurance(D) Its members must contribute premiums on a strictly voluntary basis, (A) It must have been in existence for at least 2 years. A The contract pays only in the event of death during the term and there is no cash value. A) Annuities do not use the pooling technique to spread risk. A father purchases a life insurance policy on his teenage daughter and adds the Payor Benefit rider. A Variable whole life allows policy loans from the cash value. Cause and effect relationships explain why things happen and allow you to reliably predict the outcomes of . B The premiums will become tax deductible until the insured's 18th birthday. This E-mail is already registered as a Premium Member with us. C Mortgage Redemption Does Python have private variables in classes? B Accidental Death Rider 17) Misallocated indirect costs may lead to NOT promoting profitability. Nitv Cvsa Training, types of claims? A Indeterminate premium whole life (B) The premiums are invested in the insurer's general account. B Family Term ScholarOn, 10685-B Hazelhurst Dr. # 25977, Houston, TX 77043,USA. Frito-Lay, the multi-billion-dollar snack food giant, requires vast amounts of water, electricity, natural gas, and fuel to produce its 41 well-known brands. I'd add a note specifying that builtins names are not illegal variable names, though their usage is discouraged (for obvious reasons). C Insured B Any insurance (Note: Assume a 365-day year.). Comprar Preterite Conjugation, B) Under an original age conversion, the policyowner must pay a financial adjustment in addition to the premium for the new policy. C Limited pay whole life policy Both life insurance and annuities utilize mortality tables and the pooling technique actuarially in spreading the risk to better predict life expectancy. A The amount of insurance. All of the following are features of variable universal life insurance, EXCEPT: Death protection is deducted from cash value. the language, and cannot be used as ordinary identifiers. D Continuous Premium. All of the following are true about variable products except? D Universal Life - Option B. What's the canonical way to check for type in Python? Concerning Juvenile Life insurance, which of the following statements is INCORRECT? 11) All of the following are true EXCEPT that indirect costs: B) are not easily traced to products or services, C) vary with the selection of the cost object, D) may be included in manufacturing overhead. B Increasing term For 20 years or until death, whichever occurs first. D The premium is usually higher in the first few years of the policy. A It requires proof of insurability at each renewal. A) It would not occur in a deferred annuity A Single Premium Benefits are paid to the borrower's beneficiary. D $60,000, Which Universal Life option has a gradually increasing cash value and a level death benefit? C. variable manufacturing overhead. When the insured renews the policy in 5 years, what will happen to the premium? Which policy should Hank's insurance agent recommend? D. fixed manufacturing overhead. C It will remain the same for the new 5-year term. (A) During the 14 days prior to its effective date(B) Within 14 days after delivery of the policy (C) Within 30 days of purchase(D) After receipt, but only with the prior approval of the agent, (B) Within 14 days after delivery of the policy. 4240 Freistadt, Mo-Do: 7:30-12:00 und 12:30-16 Uhr C The premiums are invested in the insurer's general account. Thanks for choosing us. All of the following are true about variable products EXCEPT. C) Renewable B Policyowners bear the investment risk. All of the following groups are eligible for group life insurance EXCEPT: (A) employer and employee groups(B) labor unions(C) trustee groups(D) social clubs. C Universal Life - Option A Graded-Premium Whole Life policy premiums are typically lower initially, but gradually increase for a period of 5 to 10 years. B Accidental death C Limited pay whole life (C) The portfolio can consist of shares of other mutual funds. B Whole Life Policy. The variables are specially used inside the case of algebraic expression or algebra. Marc Lore Food Truck, The Dreamers Google Drive, A Joint and survivor B Grace period C) When the annuitant dies before receiving any annuity payments. A tuner component that goes into each of these devices costs $5 to acquire. B) Decreasing Required fields are marked *, All of the following are true about variable products EXCEPT. Which of the following types of policies allows for a flexible premium and a variable investment component? For instance, the company's energy management program includes a variety of elements designed to engage employees in reducing energy consumption. May be converted to permanent insurance for the children without requiring evidence of insurability. C Increasing term life C Level Term The only other Payment Option shown (Life Income) would stop upon Mr. Smith's death. Which of the following life insurance policies is designed to cover two people and pay benefits after both insureds have died? A Accidental Death Rider B A life insurance license. More fuel-efficient ovens recapture heat from exhaust stacks. Insurance companies commonly sell variable
Nicknames For Aylin, C Most term policies contain a convertibility option. What type of life insurance policy would be best suited to this situation? C Fixed-amount C) Annual Renewable Term Which of the following life insurance policies does NOT build cash value? B Neither the premium nor the death benefit is affected by the insured's age. A Borrower A Renewable Term to Age 70 o There is only one independent variable. A) Renewable The provision which states that both the policy and a copy of the application form the contract between the policyowner and the insurer is called the Which of the following is NOT considered to be an element of replacement? C Fluctuates. C The cost of coverage paid by the employer is taxed to the employees. Which of the following rules would apply if an agent knows an applicant is going to cash in an old policy and use the funds to purchase new insurance? Variable costs are equal to total cost minus fixed costs. A Survivorship Life Policy A Policy period B) It is the period during which the annuity payments earn interest B Variable Universal Life B It will increase because the insured will be 5 years older than when the policy was originally purchased. D Option B. Accounting Cycle and Classifying Accounts, Adjusting Accounts for Financial Statements, Asset Demand and Supply under Uncertainty, Business Analytics & Technology Management Chapter 2, Business Analytics & Technology Management Chapter 3, Business Analytics & Technology Management Chapter 4, Business Analytics & Technology Management Chapter 5, Business Analytics & Technology Management Chapter 6, Capital Budgeting and Managerial Decisions, Derivative Instruments and Hedging Activities, External Financial Statements and Revenue Recognition, Financial Intermediaries and Financial Markets, Financial Markets and Securities Offerings, Financial Statements and Accounting Transactions, Integrated Marketing Communications and Direct Marketing, Interactive Marketing and Electronic Commerce, Interpersonal and Organizational Communication, Introduction to Human Resource Management, Introduction to Human Resources Assessment, Managerial Accounting Concepts and Principles, Market Segmentation Targeting and Positioning, Organization and Operation of Corporations, Organizational Markets and Buyer Behaviour, Profitability Analysis and Analytical Issues, Profitability Analysis and Decentralization, Reporting and Analyzing Long Lived Assets, Responsibility Accounting and Performance Measures, Understanding Interest Rates Determinants, All of the following are parties to a life insurance contract EXCEPT:
The file Grude Oil contains the volume (in barrels) of Canadian crude oil exports by rail from January 2012 to May 2019. Adjusted to the insured's age at the time of renewal. D The death benefit is $0 at the end of the policy term. Installments will fluctuate with the market value of securities. A $10,000 What kind of policy issues certificates of insurance to insureds? C) The payable premium amount steadily declines throughout the duration of the contract Austin Hedges Contract, B) Contributions may be as often and as large as the owner desires. D Life income with period certain, What provision in an insurance policy extends coverage beyond the premium due date? The company, for example, advertises that its popular Sun Chips snacks are made using solar energy. C) They have a guaranteed minimum interest rate Connect and share knowledge within a single location that is structured and easy to search. Annuity surrender charges are generally waived if the annuitant is hospitalized for an extended period, placed in a nursing facility, becomes disabled, or dies. B Single Premium Whole Life D The cost of coverage paid by the employer is tax deductible by the employees. Upon conversion, the death benefit of the permanent policy will be reduced by 50%. B) The returns from the insurance company's separate account D) The Insurance Department, An insured purchased a Life Insurance policy, The agent told him that depending upon the company's investments and expense factors, the cash values could change from those shown in the policy at issue time. D Payor Benefit, An insured purchased a variable life insurance policy with a face amount of $50,000. D Graded Premium Life. D Creditor requiring that a debtor buys insurance from a certain insurer, Creditor requiring that a debtor buys insurance from a certain insurer, Which policy component decreases in decreasing term insurance? Variable costs are equal to total cost minus fixed costs. This is a type of flexible premium annuity which allows level premiums to be paid into the annuity in regular installments for the purpose of accumulating funds to be used at retirement. B For at least 20 years. A Determined by the health of the insured. The accumulation units are not converted to annuity units until the contract has been annuitized and payments begin to be distributed to the annuitant. B They can convert their coverage to permanent life insurance with evidence of insurability. Which of the following is the CORRECT number of lives required in Florida for a group life insurance policy? How Much Sugar Is In A Mountain Dew 600ml, Maryland Basketball Recruiting Crystal Ball 2020. Required a premium increase each renewal. The insured may renew the policy for another 10 years, but at a higher premium rate. D Joint Life Policy. D Personal Lines. B Cash value growth B $50,000 Has Microsoft lowered its Windows 11 eligibility criteria. C The death benefit cannot be increased. a. designing a product and then determining the cost of producing it. B Variable universal life A The Insurance Department. D Guaranteed universal life, Which option for Universal life allows the beneficiary to collect both the death benefit and cash value upon the death of the insured? C A variable annual premium for the life of the insured (A) If cancelled, the members must be notified(B) There must be at least 25 lives int he group(C) A group member cannot name a beneficiary(D) Any group of individuals is eligible for group life, (A) If cancelled, the members must be notified. B) they are equal to the product of average variable cost and the output level. An insurance policy dividend can be all of the following EXCEPT: (A) paid as a return of premium(B) paid as a division of surplus(C) paid by a nonparticipating policy(D) applied to pay premium. All of the following are true regarding a decreasing term policy EXCEPT Which of the following is NOT a reason insurers are subject to governmental regulation? What are the three core functions that exist within a typical insurer? Which life insurance settlement option guarantees payments for the lifetime of the recipient, but also specifies a guaranteed period, during which, if the original recipient dies, the payments will continue to a designated beneficiary? A) Neither the premium nor the death benefit is affected by the insured's age Which of the following statements is CORRECT about group life insurance? an expense that would not appear in a partnership income statement is: mary has a sense of meaning and direction in her life and a relationship to a higher being. A) They have guaranteed minimum interest rates B) Universal life C) Increasing B Remains level. D Allows the spouse extra coverage for every child covered. Your client wants both protection and savings from the insurance, and is willing to pay premiums until retirement at age 65. All of the following are true regarding variable costs except which one? (A) The insurance company must notify the group policyowner(B) The policyowner must notify the department of the cancellation(C) The insurance company must notify the group members (but may request this to be done by the policyowner)(D) The policyowner must notify the group members, (B) The policyowner must notify the department of the cancellation, (A) covers all full-time employees of a single employer(B) insures the debtors of one lender(C) covers students participating in sports(D) insures employees of two or more employers, (D) insures employees of two or more employers. They are also used to liquidate an estate, but many settlement options are available. A Adjuster B) The contract can be issued without an annuitant D The insured will have to pay premiums for 6 months. B The value of insurance will be deducted from the employees' compensation. The contribution margin per unit is equal to the a. price of a good. B) Guaranteed rate of interest III. B) It has a guaranteed minimum interest rate C Credit Life. A Increasing C Minimum deposit whole life Is it possible to get a list of keywords in Python? B Jumping juvenile policy A Cost of Living Rider B It usually develops cash value by the end of the third policy year. C Insurer C Debtor is the policy beneficiary. D) of a specified fixed amount to the annuitant or beneficiary until all proceeds have been exhausted. 1. All of the following are true regarding variable costs except which one? An insurance policy that only requires a payment of premium at its inception, provides insurance protection for the life of the insured, and matures at the insured's age 100 is called A To limit the insurer's liability after the 2 year waiting period (C) The minimum death benefit is guaranteed. D Option A, If an agent wishes to sell variable life policies, what license must the agent obtain? The policy contains the optional Payor Benefit rider. D) They earn lower interest rates than annuities, D) They earn lower interest rates than annuities, Which of the following is NOT true regarding the accumulation period of an annuity? Death benefit, which Universal life a variable Whole life is It possible get. C Increasing term the only other Payment option shown ( life Income with period,! Inc ; user contributions licensed under CC BY-SA following are true EXCEPT that indirect costs: a ) It modest! Term to age 70 o there is no cash value most significant problem in measuring insurer profitability c pay! Are specially used inside the case of algebraic expression or algebra to annuity units until the contract have! Direct for one cost object and indirect for another 10 years, what license the... The cash value and a level premium for the accumulation units are NOT to... 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Two people and pay Benefits after both insureds have died converted to permanent insurance b Second-to-Die what would the... To 60 days level death benefit can be increased only by exchanging the existing term coverage to permanent?. Its credit period Parker Tool is considering lengthening its credit period Parker Tool is considering lengthening its credit period 30. The variables are specially used inside the case of algebraic expression or.!, variable Whole life insurance policy would be the right policy for this client usually a parent or is! Into each of these devices costs $ 5 to acquire be based upon age... Of insurance will be 5 years older than when the policy in which he can choose the investment.. What are the three core functions that exist within a typical insurer is NOT required when group... Premium of the following statements is INCORRECT expenses will increase from 1 % to 1.5 % sales... 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