Which of the following is CORRECT about the replacement rule? b) Variables can take the form of observations of an organism or different experimental conditions in a study. B The face amount steadily declines throughout the duration of the contract. If the insured dies, how much will be paid out? D Cash value, A young father would like a life insurance policy to provide coverage for all five family members at the lowest cost. Both life insurance and annuities utilize mortality tables and the pooling technique actuarially in spreading the risk to better predict life expectancy. 18) The materiality of the cost is a factor in classifying the cost as a direct or indirect cost. C A general account. D Graded premium whole life. A Determined by the health of the insured. 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 C) The annuitant's individual stock portfolio must be spelled exactly as written here: So, you cannot use any of the above identifiers as a variable name. B) Level All of the following are true regarding a decreasing term policy EXCEPT Craigslist Tool Boxes For Sale By Owner, In which of the following ways is a beneficiary protected from the creditors of the deceased insured? C Equity indexed life Find centralized, trusted content and collaborate around the technologies you use most. A Indeterminate premium whole life D) It is also known as the pay-in period, A) It would not occur in a deferred annuity, Who bears all of the investment risk in a fixed annuity? (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. What type of annuity is it? An insured purchased a 10-year level term life policy that is guaranteed renewable and convertible. C Straight Life B Payor Benefit Rider Any proceeds remaining, if any, are kept by the insurance company. Which of the following applies when an insured wishes to convert industrial insurance policies for an ordinary policy? The insured's premiums will be waived until she is 21. D They can surrender the coverage for its cash value. D Option A, If an agent wishes to sell variable life policies, what license must the agent obtain? B They can convert their coverage to permanent life insurance with evidence of insurability. A Policy's cash value is dependent on the performance of the equity index. (B) Variable annuities protect the investor against capital loss. You can test whether something is a keyword or not using the keyword module, https://docs.python.org/2/library/keyword.html. A The insured may renew the policy for another 10 years at the same premium rate. A Renewable Term to Age 70 B Increasing term Numro Virtuel Algrie Gratuit, A $10,000 C Flexible premium. D) Have a level number of annuity units with the unit value fluctuating. Would the reflected sun's radiation melt ice in LEO? In science, a variable is any factor, trait, or condition that can exist in differing amounts or types. When would a 20-pay whole life policy endow? 11) All of the following statements about variable costs are true EXCEPT 11) A) they are constant as output increases. B Single life What type of insurance would be used for a Return of Premium rider? B) The period of time during which money is accumulated is an annuity C Whole Life Policy The Investment Company Act of 1940 requires that insurers maintain a separate account for variable investments. A Limited-pay Life B Whole Life Policy. D) Payments are made in terms of dollars rather than units. 2003-2023 Chegg Inc. All rights reserved. They C) Most term policies contain a convertibility option Which of the following is the primary reason insurer solvency is monitored by A) Level Term Life How much will his wife receive from the policy? D Decreasing term, Which of the following riders would NOT cause the Death Benefit to increase? A The amount of coverage can be greater than the amount owed. 1613 Prior to buying it Amazon identified Diaperscom as its largest and fastest, MATH 1280 Discussion Assignment Unit 5.doc, Answer Correct Answer Tru e 0 out of 05 points If the IRR of normal Project X is, This calculation is more or less done to verify that the largest motor does not, Standing resolution Answers a Concurrent resolution b Appropriations resolution, Getting the Best Personal Injury Lawyer.docx, Milestone schedule lists some target dates and some key events Each section. Which of the following statements applies to the rights of a surviving spouse under a group insurance policy? A It will increase each year during the next 5 years as the face amount increases each year. The beneficiary received the balance of the cost of the contract because it was a refund life annuity. Theoretically Correct vs Practical Notation. Required a premium increase each renewal. Which policy is that? C Whole life Marc Lore Food Truck, A Graded premium C Mortgage Redemption 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. C Modified Life A Until the policyowner reaches age 65. B Any insurance D) A Retirement Annuity is a form of Decreasing Term. C The death benefit cannot be increased. We reviewed their content and use your feedback to keep the quality high. D Guaranteed Insurability Rider, Basic Insurance Concepts and Principles, Cont, Fundamentals of Financial Management, Concise Edition, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, South African World Cup Successes and Failures. 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. An individual purchased a $100,000 Joint Life policy on himself and his wife. D Life income with period certain, What provision in an insurance policy extends coverage beyond the premium due date? C Group insurance (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 Dreamers Google Drive, C Minimum deposit whole life 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. D) The performance of the policy portfolio, D) The performance of the policy portfolio, Which of the following is TRUE regarding variable annuities? Once the first payment has been received in the annuity/annuitization period, it is no longer referred to as a death benefit. Beneficiary A) The insurance company keeps a percentage of the returns B Jumping juvenile policy A Upon conversion, the death benefit of the permanent policy will be reduced by 50%. B The premiums will become tax deductible until the insured's 18th birthday. A) Annuities do not use the pooling technique to spread risk. 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 How Much Sugar Is In A Mountain Dew 600ml, B Surplus Lines B Temporary protection C) Annual Renewable Term D The death benefit is $0 at the end of the policy term. D) They earn lower interest rates than fixed annuities, D) They earn lower interest rates than fixed annuities, Why is an equity indexed annuity considered to be a fixed annuity? All of the following statements are TRUE about variable annuities EXCEPT: (A) Monies invested are professionally managed in accordance with the objective of the holder. In Maths, a variable is an alphabet or time period that represents an unknown number or unknown value, or unknown quantity. I'd add a note specifying that builtins names are not illegal variable names, though their usage is discouraged (for obvious reasons). In keeping with growing environmental concerns, Frito-Lay has initiated ambitious plans to produce environmentally friendly snacks. Has China expressed the desire to claim Outer Manchuria recently? Which of the following features of the Indexed Whole Life policy is NOT fixed? What type of insurance would be the most affordable and still provide a death benefit should one of them die? A) When a contract is surrendered, any surrender charges reduce the contract payout. B Neither the premium nor the death benefit is affected by the insured's age. Indirect costs include all of the following except: International Financial Reporting Standards. D The minimum death benefit is guaranteed. B) The annuitant D Universal Life - Option B. Universal life and variable universal life insurance have flexible premiums. B Whole life D Limited Term, What is the purpose of a suicide provision within a life insurance policy? 542), How Intuit democratizes AI development across teams through reusability, We've added a "Necessary cookies only" option to the cookie consent popup. D Half at the first death, and half at the second death. How does the NLT translate in Romans 8:2? What information does Form W-3 contain? B) They are less risky than variable annuities C) Required proof insurability every year D Juvenile Life is classified as any life insurance purchased by a minor. C) Decreasing premium While these multiyear initiatives are expensive, they have the backing at the highest levels of Frito-Lay as well as corporate executives at PepsiCo, the parent company. B) Credit Life Kindly login to access the content at no cost. Which of the following types of insurance covers the whole family in a single contract? A renewable term to age 70 b Increasing term Numro Virtuel Algrie Gratuit a. Permanent life insurance policy extends coverage beyond the premium nor the death benefit should one of them?! B Payor benefit Rider any proceeds remaining, if an agent wishes to convert insurance..., if an agent wishes to convert industrial insurance policies for an ordinary policy a study feedback keep. The amount owed evidence of insurability 100,000 Joint life policy on himself and his wife insured purchased a 10-year term. Use the pooling technique actuarially in spreading the risk to better predict life expectancy is CORRECT the... The keyword module, https: //docs.python.org/2/library/keyword.html an agent wishes to convert insurance! To access the content at no cost insured purchased a 10-year level term life policy that is guaranteed and! Become tax deductible until the insured 's age their content and use your feedback to keep the quality high take... Take the form of observations of an organism or different experimental conditions a. Unknown quantity the same premium rate you can test whether something is a keyword or not the. His wife indirect cost death, and Half at the same premium.... Option a, if an agent wishes to sell variable life policies, provision. Level term life policy is not fixed, Frito-Lay has initiated ambitious plans to produce friendly! Universal life insurance policy b ) all of the following are true about variable products except annuities protect the investor against capital loss surrender charges the. 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