Level term insurance provides a level death benefit and a level premium during the policy term. 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. A Until the policyowner reaches age 65. Prepare its schedule of cost of goods manufactured for the year ended December 31, 2017. D) It may last for the lifetime of the annuitant, D) It may last for the lifetime of the annuitant, All of the following entities regulate variable life policies except C) The insurance Company Which of the following is correct regarding credit life insurance? Browse other questions tagged, Where developers & technologists share private knowledge with coworkers, Reach developers & technologists worldwide. What can a lawyer do if the client wants him to be aquitted of everything despite serious evidence? C Level term life. B) Evidence of insurabillity is not required C Family Income Policy A) Both are considered to be more risky than variable annuities Mhgu Ancient Bow, D The death benefit is $0 at the end of the policy term. B) It provides an annually increasing death benefit Under group life insurance, which of the following statements is CORRECT? D Life Paid-up at Age 65, An Adjustable Life policyowner can change which of the following policy features? Which of the following applies when an insured wishes to convert industrial insurance policies for an ordinary policy? Insurance companies commonly sell variable A Adjustable Life. b) Variables can take the form of observations of an organism or different experimental conditions in a study. Write these problems in vertical form. C Juvenile Life is classified as any life insurance written on the life of a minor. 0 A. O B. B Creditor is the insured. A father owns a life insurance policy on his 15-year-old daughter. The policy also contains renewability and convertibility options. B) It is also referred to a as the accumulation period Take the quiz test your understanding of the key concepts covered in the chapter. Ihr Internet- und TV-Anbieter im Bezirk Freistadt! B) they are equal to the product of average variable cost and the output level. Should I avoid using "str" as a variable name in Python? Buddha Twitch Age, B. the premiums are invested in the insurers general account, C. the minimum death benefit is guaranteed, Answer:B. the premiums are invested in the insurers general account. B Universal life Which of the following statements is CORRECT about group life insurance? C Built cash values. C Federal government. B To deter the policyowner from committing suicide A continuous random variable takes on all the values in some interval of numbers. They can convert their coverage to permanent life insurance without evidence of insurability. (C) The minimum death benefit is guaranteed. The beneficiary received the balance of the cost of the contract because it was a refund life annuity. D)The cash value is not guaranteed. D Cost of Living Rider, An insured and his spouse own a home. Scientists try to figure out how the natural world works.To do this they use experiments to search for cause and effect relationships. An annuity pays a death benefit only when death occurs while still in the accumulation period. Experiments are usually designed to find out what effect one variable has on another - in our example, the effect of salt addition on plant growth.. You manipulate the independent variable (the one you think might be the cause) and then measure the dependent variable (the one you think might be the effect) to find out what this . All of the following are true about variable annuities except. Why do evolutionary psychologists argue that men and women should be more interested in sex? All of the following policies could be offered as variable policies, EXCEPT: All of the following are guaranteed features in a variable life insurance policy, EXCEPT: Which of the following policies allows the policyowner to buy term and direct the investments made in the cash value account? All of the following are true about variable products EXCEPT. Variable costs are the sum of the costs paid for all variable inputs. 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. The following are features of the Indexed Universal Life EXCEPT Find centralized, trusted content and collaborate around the technologies you use most. In a typical family policy, coverage on the children is usually provided by which of the following? Which of the following applies to variable contracts? Nitv Cvsa Training, Question : 11) All of the following true EXCEPT that indirect costs: : 1869182. Term life insurance provides the greatest amount of insurance protection (dollar amount of policy proceeds) for the least amount of premium. Both life insurance and annuities utilize mortality tables and the pooling technique actuarially in spreading the risk to better predict life expectancy. A dose friend is starting a new landscaping business around an inland lake used by summer vacationers. All customers will continue to pay on the net date. A Equity Indexed Universal Life D Credit term life, Which of the following types of insurance policies is most commonly used in credit life insurance? Assumed interest, life expectancy, and the guaranteed payout period all would be used to determine the amount of payout during the Annuitization period. Anytime, anywhere. Would the reflected sun's radiation melt ice in LEO? An individual purchased a $100,000 Joint Life policy on himself and his wife. Twin brothers are starting a new business. A Corridor option D Decreasing Term, If an agent wishes to sell variable life policies, what license must the agent obtain? B) They have guaranteed minimum interest rates The insured's premiums will be waived until she is 21. 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? B Creditor requiring that a debtor has a life insurance A The coverage period B $40,000 D Allows the spouse extra coverage for every child covered. Yonathan Lpez Celis Instagram. Cookie Policy This website uses cookies to ensure you get the best experience on our website. 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. A father purchases a life insurance policy on his teenage daughter and adds the Payor Benefit rider. C) Invest conservatively B Second-to-Die B) Contributions may be as often and as large as the owner desires. A A revenue account. annuities. A The face value of the policy is paid to the insured at age 100. (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. The following selected account balances are provided for Delray Mfg. A Creditor having a collateral assignment on the policy A Adjustable Life He also wants to buy a life insurance policy, but is financially limited until the car is paid off. C) Variable - the investment varies according to the fixed rate. Experts are tested by Chegg as specialists in their subject area. C Remains level. C The length of coverage. D A separate account. B) The period of time during which money is accumulated is an annuity Bad-debt expenses will increase from 1% to 1.5% of sales. Django crud api with json fields in model. What type of annuity is it? Your client wants both protection and savings from the insurance, and is willing to pay premiums until retirement at age 65. C Whole life How do I check if a variable is an array in JavaScript? A Limited-pay Life C Insured D Annual Renewable Term. IV. B A life insurance license. D Level Term Policy, Which of the following policies would have an IRS required corridor or gap between the cash value and the death benefit? d. minimizing international transportation costs. All of the following are eligible groups under Florida law EXCEPT: (A) associations of licensed professionals(B) debtors of a single creditor(C) members of a credit union(D) groups established to buy insurance. B) If the annuitant dies after receiving 12 monthly income payments. A The insured's premiums will be waived until she is 21. In which of the following ways is a beneficiary protected from the creditors of the deceased insured? The contribution margin per unit is equal to the a. price of a good. D FINRA registration. Why does the impeller of a torque converter sit behind the turbine? A Policy's cash value is dependent on the performance of the equity index. B) Straight Life A Decreasing Term Policy. Which statement is NOT true regarding a Straight Life policy? 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) The face value of the policy is paid to the insured at age 100 A) A corporation can be a annuitant as long as the beneficiary is a natural person B Based on the issue age of the insured. C) They have a guaranteed minimum interest rate C) such an annuity is designed to combat inflation risk. C Limited pay whole life A) The company guarantees a minimum interest rate B) A person selling variable annuities is required to have only a life agent's license Eight years later, he died in an automobile accident. C) The period of time from the effective date of the contract to the date of its termination 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? the language, and cannot be used as ordinary identifiers. D Required proof of insurability every year. C Interest-sensitive Whole Life A To limit the insurer's liability after the 2 year waiting period C) The purchase of an annuity helps to protect against out-living your income. D Upon conversion, the premium for the permanent policy will be based upon attained age. B Interest-sensitive Whole Life B) It is the period during which the annuity payments earns interest The death benefit can be increased by providing evidence of insurability. One is a manufacturer, Rayzer Skis Mfg., and the other, Sunrise Foods, is a grocery distribution company. types of claims? Our experts can answer your tough homework and study questions. I'd add a note specifying that builtins names are not illegal variable names, though their usage is discouraged (for obvious reasons). 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. All of the following are true about variable products EXCEPT A The cash value is not guaranteed. How to check if a variable is set in Bash, JavaScript check if variable exists (is defined/initialized), UnicodeEncodeError: 'ascii' codec can't encode character u'\xa0' in position 20: ordinal not in range(128), How do you get out of a corner when plotting yourself into a corner. B It will increase because the insured will be 5 years older than when the policy was originally purchased. The cost of coverage is a deductible expense by the employer. The premium of a survivorship life policy compared with that of a joint life policy would be B The value of insurance will be deducted from the employees' compensation. C Free look D Adjustable death benefit. All of the following are true about variable tolls on roads except -variable tolls are an effective way of correcting the common resource problem on roads.. A Waiver of premium A) They have guaranteed minimum interest rates D) Upon conversion, the premium for the permanent policy will be based upon attained age, A) Upon conversion, the death benefit of the permanent policy will be reduced by 50%, The policy owner of an adjustable life policy wants to increase the death benefit. Variable whole life has a guaranteed death benefit. 18) The materiality of the cost is a factor in classifying the cost as a direct or indirect cost. B A decreasing annual premium for the life of the insured A discrete random variable has a countable number of possible values. B) Level fixed premium D Joint life, A Straight Life policy has what type of premium? D Gradually increases each year by the amount that the cash value increases. C The death benefit cannot be increased. A) Annuities do not use the pooling technique to spread risk. From the keywords section in the Python docs: The following identifiers are used as reserved words, or keywords of An insured purchased a Life Insurance policy. C) It is the period of time during which the annuitant makes premium payments into the annuity C Straight Life A Cost of Living Rider B It has a maximum term of 20 years. 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 But the continuing battle for resource reduction continues. A) Renewable B) only if death occurs once the annuity has entered the Annuitization period. What happens at the end of the 10-year term? 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? D Option A, If an agent wishes to sell variable life policies, what license must the agent obtain? This function will check if a name is a keyword in Python or one of Python built-in objects, which can be a function, a constant, a type or an exception class. Which type of life insurance provision/rider does this describe? Which type of policy would he most likely buy? 1. The probability of each value of a discrete random variable is between 0 and 1, and the sum of all the probabilities is equal to 1. Explain the following actions by agents that are a. B Flexible B) are not easily traced to products or services. B Surplus Lines A The amount of coverage can be greater than the amount owed. a. Insurance provides a level premium during the policy is paid to the fixed.! 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