Intermediaries Samenvattingen, Aantekeningen en Examens

LIBF-Unit 4 Questions And Answers With Complete Solutions 2023 Competition and markets authority The body responsible for strengthening business competition and preventing and reducing anti-competitive activities. Counterparties People and organization (eg companies) who lend money to and borrow from financial intermediaries (ie financial institutions such as banks) Divestment The process of selling off parts of a company to make it smaller, eg the Lloyds sell-off that created new TSB bra...

Mutually owned co-operative financial institutions offering benefits to members through a trust-like structure" describes which type of Insurer/Fund Manager? - Answer- Friendly Society Which is the decision-making process of framing? - Answer- To remove the 'noise' from an issue to allow us to see the problem for what it is Under the RG271 what is the maximum timeframes for IDR response for a Superannuation trustee complaints? - Answer- 45 days after receiving the complaint In the se...

C16 - Chapter 7 - Relationship between Sales Intermediaries and Insurers

Business Essentials Final Exam Study Guide Questions & Answers 2023/2024 break-even point - ANSWER-the point at which total revenues, or sales, equal total costs and expenses of developing and offering a product or service market segmentation - ANSWER-the division of a market for a product into groups of customers who have the same needs and traits channel of distribution - ANSWER-a pathway to direct products to consumers promotion - ANSWER-any effort to inform, persuade, or remind p...

C16 - Chapter 7 - Relationship between Sales Intermediaries and Insurers

What kind of retirement plan can a 75-employee for profit corporation establish? - ANSWER-Simple IRA The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the - ANSWER-Exclusion ratio Unfair claims settlement methods and practices by an insurance company include all of the following acts EXCEPT - ANSWER-failure to pay all claims that are reported within 90 days after a loss occurs The settlement option that allows p...

Commercial Banks and other Financial Intermediaries Part 1 Questions and Answers 2023 A financial market can be categorized as either a ________ market or a financial intermediaries market. Securities. A securities market is one where agents trade debt and equity claims of the final borrowers. So, shares of Microsoft are bought and sold in securities markets. The market for savings deposits of commercial banks is an example of the financial ___________ market. Intermediaries. Commercia...

C16 Application and Narrative Questions Chapter 7 - Intermediaries

1. What are the 3 CATEGORIES of AGENT, and what are the distinctions between those categories : 1. company employed agent, - works directly for insurer as staff. - paid salary with possible bonus or commission, or blend of compensation. - insurer owns client expiration list.` 2. Independent Agent - entrepreneur, maintains separate office from insurer, pays for own expense. - paid by commission or by a combination base salary and commission. - contract negotiated between agent and insur...

C16 Application and Narrative Questions Chapter 7 - Intermediaries With complete solution