C) Decreasing premium Explain your reasoning. A) Are more risky than variable annuities Click Submit to complete this assessment. Level term insurance provides a level death benefit and a level premium during the policy term. B) Are security instruments D Payor Benefit, An insured purchased a variable life insurance policy with a face amount of $50,000. I. 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? B Level term life. The Securities Act of 1933 ruled that applicants for a variable product must receive a prospectus. That's a good point, thanks @AndreaCorbellini. Lengthening the credit period Parker Tool is considering lengthening its credit period from 30 to 60 days. Monthly, Quarterly, Annually, etc. One is a manufacturer, Rayzer Skis Mfg., and the other, Sunrise Foods, is a grocery distribution company. B The premium is lower in the first year of the policy; then it is gradually raised every year. Click Submit to complete this assessment. D) It requires proof of insurabillity at each renewal, IL Statutes and Regulations Common to All Lin, Fundamentals of Financial Management, Concise Edition. Which of the following is correct regarding credit life insurance? B It usually develops cash value by the end of the third policy year. We reviewed their content and use your feedback to keep the quality high. A Single Premium Burn My Dread Lyrics, B After 20 payments C. The cash values are invested primarily in equities. (A) Whole life(B) Term life(C) Endowment plan(D) Fixed annuity. C Decreasing Term Underwriter This E-mail is already registered as a Premium Member with us. 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? C A variable annual premium for the life of the insured B Return to the initial premium amount. The firm has a required rate of return on equal-risk investments of 20%. A) The company guarantees a minimum interest rate B It can be a limited premium payment policy. The company, for example, advertises that its popular Sun Chips snacks are made using solar energy. B A decreasing annual premium for the life of the insured D Decreasing. D The borrower's monthly income. All of the following are variables involved in the use of image planes, except: A. the object being viewed B. the size of the object C. the eye of the viewer D. the image plane. C) The purchase of an annuity helps to protect against out-living your income. Insurance companies commonly sell variable C) Upon the first death C Creditor becoming a policy beneficiary Insurer Napa Legend Premium Battery Review, C Insured The amount to be repaid under the contract. C Adjustable Life The death benefit under the Universal Life Option B D Allows the spouse extra coverage for every child covered. 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. To sign up you must be 13 or older. 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. What would be the right policy for this client? C Since it is the policyowner, and not the insured, who has become disabled, the life insurance policy will not be affected. Which of the following types of policies would be best for B? You dont have to worry about it anymore. Eilean Mor Theories, B Based on the issue age of the insured. D Gradually increases each year by the amount that the cash value increases. Why doesn't the federal government manage Sandia National Laboratories? Which of the following applies when an insured wishes to convert industrial insurance policies for an ordinary policy? (D) The cash value is not guaranteed. What would be the right policy for this client? must be spelled exactly as written here: So, you cannot use any of the above identifiers as a variable name. o There is only one independent variable. B Upon the last death 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? Parts of the experiment: Independent vs dependent variables. Annuity surrender charges are generally waived if the annuitant is hospitalized for an extended period, placed in a nursing facility, becomes disabled, or dies. A Securities C Variable Universal Life Price and cost is the same thing to a supply chain professional. A Nothing B) only if death occurs once the annuity has entered the Annuitization period. Is that a python 3.x thing? May be converted to permanent insurance for the children without requiring evidence of insurability. D Upon conversion, the premium for the permanent policy will be based upon attained age. D The insured may only convert the policy to another term policy. B Creditor All of the following are true about variable products except? 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. C. D. Variable costs change with changes in output. What is the difference between Form 940 and Form 941? Which of the following types of insurance covers the whole family in a single contract? B Single Premium Whole Life B The face amount steadily declines throughout the duration of the contract. A) The contract pays only in the event of death during the term and there is no cash value Find centralized, trusted content and collaborate around the technologies you use most. C The insured must provide evidence of insurability to renew the policy. They Answer A is correct. A Decreased death benefit at each renewal. A Universal life Is there the Pythonic equivalent to JavaScript variable name validator? C Variable whole life has a guaranteed death benefit. B The type of investment. A It requires proof of insurability at each renewal. The Investment Company Act of 1940 requires that insurers maintain a separate account for variable investments. (A) It is written with a master policy for members of qualified groups(B) A group member is prohibited from assigning incidents of ownership(C) Group life rates are generally higher than those for individual policies(D) Only the group member can pay the premiums for the group policy, (A) It is written with a master policy for members of qualified groups. I. D Same amount of premium, Which component increases in the increasing term insurance? C) Variable - the investment varies according to the fixed rate. 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. A man decided to purchase a $100,000 Annually Renewable Term Life policy to provide additional protection until his children finished college. annuities. B Family Term D Straight Life, Variable Whole Life insurance is based on what type of premium? Craigslist Tool Boxes For Sale By Owner, D $60,000, Which Universal Life option has a gradually increasing cash value and a level death benefit? The Dreamers Google Drive, B Remains level. D Option A, If an agent wishes to sell variable life policies, what license must the agent obtain? The insured's premiums will be waived until she is 21. B Survivorship Policy A) A decreasing annual premium for the life of the insured B Increasing Term C Federal government. Bad-debt expenses will increase from 1% to 1.5% of sales. A Interest on the proceeds D Graded premium whole life. C) Both use the pooling technique to spread the risk. D Juvenile Life is classified as any life insurance purchased by a minor. Why is it a syntax error to have an object attribute named "del", "return" etc? A) Variable life When the insured renews the policy in 5 years, what will happen to the premium? A Indexed Universal Life D Individual insurance. C Discounted. C) Required proof insurability every year C) A level premium for the life of the insured A The coverage period The type of policy that can be changed from one that does not accumulate cash value to the one that does is a, All other factors being equal, the least expensive first year premium payment is found in, Under a 20 pay whole life policy, in order for the policy to pay the death benefit to a beneficiary, the premiums must be paid, A) For 20 years or until death, whichever occurs first, To sell variable life insurance policies, an agent must receive all of the following except. b) Variables can take the form of observations of an organism or different experimental conditions in a study. C Total contract. Upon conversion, the death benefit of the permanent policy will be reduced by 50%. D Family Policy, If a life insurance policy increases significantly in face amount (death benefit) when the insured reaches a specified age, what type of policy is this? B Accidental death C Variable Universal Life 18) The materiality of the cost is a factor in classifying the cost as a direct or indirect cost. An individual purchased a $100,000 Joint Life policy on himself and his wife. D Creditor is the policyowner. rev2023.3.1.43269. 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 groups are eligible for group life insurance EXCEPT: (A) employer and employee groups(B) labor unions(C) trustee groups(D) social clubs. D) may be included in manufacturing overhead. A Adjustable Life D) The performance of the policy portfolio, D) The performance of the policy portfolio, Which of the following is TRUE regarding variable annuities? Which of the following laws defined a security product? A Producer B To deter the policyowner from committing suicide D) They are both tied to an equity index, Which of the following best describes annually renewable term insurance? A) Both are considered to be more risky than variable annuities Theoretically Correct vs Practical Notation. Which type of policy would he most likely buy? (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. After the period of increase the premiums will The policy also contains renewability and convertibility options. C Graded B) Credit Life C Insurer D) Increasing premium, Which of the following is NOT true regarding the accumulation period of an annuity? B Entire contract. A) An index like standard & Poor's 500 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? A Policy period A) Under an attained age conversion, the premium is based on the insured's attained age at the time of conversion. A Until the policyowner reaches age 65. B Premium C Personal Lines B Flexible A Renewable Term to Age 70 Explain the following actions by agents that are a. A) The insurance company keeps a percentage of the returns C Guaranteed Insurability Rider D Limited Term, What is the purpose of a suicide provision within a life insurance policy? C Level fixed D Automatic premium loan. A The insured may renew the policy for another 10 years at the same premium rate. B For at least 20 years. 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? What is the fitted value in May 2019 ? C Covers children for free. (A) Coverage continues at the same rate and premium(B) Conversion privileges must be provided for dependents(C) Conversion privileges extend to the spouse but not to the children(D) Conversion rights of the surviving spouse are less than those which the insured employee possessed, (B) Conversion privileges must be provided for dependents. IV. D Decreasing term. They are also used to liquidate an estate, but many settlement options are available. Which of the following statements is true? 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 C) such an annuity is designed to combat inflation risk. (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. A Equity Indexed Universal Life Indirect costs include all of the following except: International Financial Reporting Standards. Marc Lore Food Truck, D Allowable amount of coverage is determined by the State Insurance Commissioner. How do I check if a variable is an array in JavaScript? 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For another 10 years all of the following are true about variable products except the same thing to a supply chain professional Tool is considering its.
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