Contestability Study guides, Class notes & Summaries

LIFE INSURANCE PRACTICE EXAM QUESTIONS WITH VERIFIED SOLUTIONS Insurable Receipt The reciept given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Representations Statements in the application for insurance that are believed to be true to the best of the applicants knowledge are Provide the annuitant with an interest rate that is lesser of the guaranteed or current rate An annuity is considered fixed when it does all of the fol...

Life and Health Insurance Missouri Latest Update with Verified Solutions Regulates Consumer Reports, also known as consumer investigative reports, or credit reports. The Federal Fair Credit Reporting Act When an agent collects the initial premium from the applicant the agent should issue the applicant a Premium Reciept What is the maximum penalty for habitual willful noncompliance with the Fair Credit Reporting Act $2,500 A medicare supplement plan must have at least which of the following p...

WebCE Quizzes: General Insurance & Life Insurance Exam With 100% Correct Answers 2023 Buying life or health insurance is an example of which risk management technique? risk avoidance risk reduction risk retention risk transfer - Correct Answer-risk transfer What is the mathematical concept of probability that helps insurers estimate the statistical likelihood of mortality or morbidity losses at any given age? law of large numbers underwriting principle law of probability actuarial p...

Florida Laws and Rules Pertinent to Insurance Already Rated A+ All of the following are Nonforfeiture Options EXCEPT -Cash Surrender Option -Extended Term Option -Reduced Paid-Up Option -Automatic Premium Loan Option Automatic Premium Loan Option What do Dread Disease policies cover? a specific disease or illness in Florida, most life insurance policies have a contestability period of 2 years J is an agent who recently told a claimant that his rights might be impaired if he does...

Chapter Exam: Arizona Laws and Rules Already Rated A+ All of the following is information that is reasonably appropriate to determine the suitability of an annuity recommendation EXCEPT Level of education Which plan offers coverage for nursing home (custodial) care without requiring any previous period of hospitalization? AHCCCS (Arizona Health Care Cost Containment System) Under Arizona workers' compensation laws, which of following situations would be excluded from disability bene...

Within how many days must a licensee notify the Department of Financial Services of a change in address? - Answer 30 All of the following entries are classified under the four principal areas of Florida insurance law EXCEPT... - Answer An agent's commission Which of the following factors is NOT considered when the Department of Financial Services determines if an agent's home is an insurance agency? - Answer The amount of premium collected at this location Florida requires that an ins...

(2) GA Life And Health Graded A the existing policy is kept in force and an additional policy is purchased from the same company ️Georgia's Replacement Rule applies to all of the following situations EXCEPT Waiver of premium ️A life insurance policy which ensures that the premium will be paid if the insured becomes disabled has what kind of rider attached? Premiums are Waived if the Payor becomes Disabled ️What benefit does the Payor clause on a Juvenile Life policy provide? ...

Florida Laws and Rules Pertinent to Insurance Ch. 8 Already Passed How many hours of continuing education must a newly licensed agent complete every two years 24 A variable life insurance agent must be licensed and appointed as a life and variable contract agent, as well as a(n) broker dealer Which of the following documents must an agent submit to the replacing insurance company during the replacement of an existing life insurance policy? Notice to existing and replacing insurers of intentio...

Florida 2-15 exam questions and answers already passed In a 3 partner cross-purchase plan, how many policies need to be purchased in order to protect each partner against the loss of any other partner? 6 According to the NAIC Life Insurance Solicitation Model, when soliciting life insurance, a producer is required to provide a prospect with a ______ and a _______ specific to the product being marketed. general buyer's guide; policy summary The Incontestable Clause states that the insurer can...

Arizona life and health insurance exam | 236 latest questions and answers When the disclosure of an insured's nonpublic information is involved, what is the insurer obligated to do? - Give notice, explain, and allow opting out Under the Telemarketing Sales Rule, telemarketing calls may NOT be received after - 9:00 PM A health plan offered by private insurance companies is - Medicare Supplement Chris has a single major medical contract which covers all medical expenses. His plan is cons...