Misrepresentation Study guides, Class notes & Summaries

An annuity promises that, if the annuitant dies before receiving payments equal to the correct value, the payments will be continued to a beneficiary until an amount equal to the contract value has been paid. This type of annuity is called An installment Refund annuity A Straight Life annuity A Cash Refund annuity A Joint Life annuity - ANSWER An installment Refund annuity One becomes eligible for Social Security disability benefits after having been disabled for 3 months 5 mo...

Final Exam - Florida Life and Health Questions and Answers Rated A Which Unfair Trade Practice involves making a false statement on an insurance application in order to receive money from an insurer? Misrepresentation Who owns a stock company? A stock insurance company is owned by its stockholders. In Florida, which of the following is considered an Unfair Trade Practice? Coercion Which of these options can an individual use their medical flexible spending account to pay for? Prescription dr...

Under what circumstance does an accident and health insurer have the right to request an autopsy? 1. When the claim exceeds an amount specified in the policy 2. When 2 days have passed after death 3. When not prohibited by state law 4. When consent is given by the beneficiary - 3. When not prohibited by state law Which of the following accurately describes the "time limit on certain defenses"? 1. After a stated period of time, claims cannot be denied due to material misrepresentation on ...

In general, what is the earliest age at which a person can take a distribution from a qualified plan without a tax penalty? - 59 1/2 Carol was 35 when she bought her deferred annuity. Now, at age 38, she wants to withdraw funds from the contract to take a vacation. Carol is likely to encounter all of the following consequences in making the withdrawal EXCEPT: - statutory minimum withholding requirements What kind of misrepresentation on an insurance application gives the insurer reason to t...

1/50 Under which of the following circumstances would the client and agent most likely mutually agree to terminate a listing? a A buyer approached the seller with a much higher offer than the current listing price. b The agent and client don't agree on the best way to price, maintain, and market the property. c The client has found a buyer and wants to avoid paying a commission. d The client's cousin just became licensed and needs her first listing. - ANSWER b The agent and client don't a...

MA Property and Casualty InsuranceAgreement - correct answer The offer and acceptance Consideration - correct answer Exchange of values (premium paid vs promise to pay claims) Legal purpose - correct answer Contract cannot be enforced if based on illegal Unilateral - correct answer Developed by one party Adhesion - correct answer Drafted by insurer and accepted by applicant Aleatory - correct answer One party may recover more in value than he or she has parted with Conditional ...

RCFE 2 Exam 2023 Latest Complete Updated Solution Which of the following medical conditions identified below, which condition(s) are prohibited in RCFE's A. Diabetes B. Stage 1 Dermal Ulcer C. Gastrostomy care D. All of the above - CORRECT ANS - Gastrostomy care A written report of any eviction of a resident in an RCFE must be sent to the Licensing District office within how many days: A. 30 days B. 10 days C. 5 days D. None of the above - CORRECT ANS - 5 days Ver...

Real estate recovery act Dept of business regulation establishes this account Covers anyone aggrieved by an act, misrepresentation, transaction or conduct of a licensed real estate broker upon the grounds of fraud, misrepresentation or deceit may recover no more than 50000 per one license Can't be used to reimburse any broker or salesperson Agents pay a fee for the deposit in the real estate recovery fund when they first get their license Dec 31 of any year if the recovery fund is ...

Six values of public procurement - Correct Answer-Ethics Impartiality Accountability Professionalism Service Transparency What is leadership in public procurement? - Correct Answer-The process of applying knowledge and competencies to achieve organizational success. Procurement code of ethics - Correct Answer-Impartiality Honesty Loyalty Sharp Practices - Correct Answer-Evasion and misrepresentation, just short of actual fraud, and should be avoided at all costs. Unscrupulous...

Property and Casualty Questions and Answers Already Passed An agent license can be suspended or revoked by writing primarily controlled business If an insured hides information and fails to disclose a known material fact to the insurer is known as Concealment which of the following statements pertaining to medical payment Part C of the CGL is false A person has to establish the liability of the insured before medical benefits will be paid under the contract All of the following...