B) Guaranteed rate of interest A) It would not occur in a deferred annuity C Surplus Lines B The amount to be repaid under the contract. An insurance policy that only requires a payment of premium at its inception, provides insurance protection for the life of the insured, and matures at the insured's age 100 is called The premiums are invested in the insurer's general account. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. B The value of insurance will be deducted from the employees' compensation. All of the following are inventoried under variable costing except: A. direct materials. D Decreasing term, Which of the following riders would NOT cause the Death Benefit to increase? B Level term life. D) Increasing premium, Which of the following is NOT true regarding the accumulation period of an annuity? B Whole Life Policy. D)The cash value is not guaranteed. For 20 years or until death, whichever occurs first. Not the answer you're looking for? B Variable option All of the following apply to a universal life insurance policy EXCEPT: (A) the coverage includes an annual renewable term policy(B) there are no restrictions on it as far as receiving favorable tax treatment(C) there can be a flexible premium and an adjustable benefit(D) the accumulations in the policy grow on a tax-sheltered basis, (B) there are no restrictions on it as far as receiving favorable tax treatment. C) They are less risky than variable annuities All of the following statements are correct about group life insurance EXCEPT: (A) a member can assign her incidents of ownership(B) certificate holders need not be notified if the policy expires(C) rates are typically more favorable than for individual policies(D) it is generally written as a one-year renewable term plan, (B) certificate holders need not be notified if the policy expires. 16) Improvements in information-gathering technologies are making it possible to trace more costs as direct. A Adjustable Life By clicking Accept all cookies, you agree Stack Exchange can store cookies on your device and disclose information in accordance with our Cookie Policy. A The borrower's annual income. D Aleatory contract. Parts of the experiment: Independent vs dependent variables. A Decreased death benefit at each renewal. Which of the following are the three major goals of insurance rate regulation? A man decided to purchase a $100,000 Annually Renewable Term Life policy to provide additional protection until his children finished college. Which of the following statements is true? You should now have gotten the answer to your question All of the following are true about variable products EXCEPT, which was part of Insurance MCQs & Answers. C Modified Life C Universal Life - Option A The annuity Life Income Option (as does the Life Income Settlement Option in life insurance) pays a benefit as long as the annuitant lives, and upon death, all payments cease. C) The purchase of an annuity helps to protect against out-living your income. C Guaranteed Insurability Rider D Continuous Premium. A As high. C Variable Universal Life The premium can be raised up to a guaranteed maximum rate. B Remains level. What problems can you foresee and what advice would you give to your friend? D Creditor is the policyowner. D) Payments are made in terms of dollars rather than units. Connect and share knowledge within a single location that is structured and easy to search. Which of the following types of insurance covers the whole family in a single contract? B The face amount steadily declines throughout the duration of the contract. What type of annuity is it? A) If the insured survives to age 100 A The amount of insurance. Is it possible to get a list of keywords in Python? If at the end of this period the father is still disabled, the insured will be refunded the premiums. C Premium B Increases for the first few years of the policy, and then levels off. C) Whole life B They can convert their coverage to permanent life insurance with evidence of insurability. 2003-2023 Chegg Inc. All rights reserved. B Family income B) The returns from the insurance company's separate account All of the following are true about variable products EXCEPT. Which of the following is NOT required when a group life insurance policy is cancelled? D Annual Renewable Term. C Built cash values. 11) All of the following are true EXCEPT that indirect costs: A) may be included in prime costs B) are not easily traced to products or services C) vary with the selection of the cost object D) may be included in manufacturing overhead The Securities Act of 1933 defines a securities product. C) A direct cost of one cost object can be an indirect cost of another cost object. (C) The minimum death benefit is guaranteed. D Credit term life, Which of the following types of insurance policies is most commonly used in credit life insurance? A Decreases by the amount that the cash value increases. I may have stumbled on an illegal variable name. B) A person selling variable annuities is required to have only a life agent's license A It will increase each year during the next 5 years as the face amount increases each year. C It has the lowest annual premium of the three types of Whole Life policies. For variable products, underlying assets must be kept in B Policyowners bear the investment risk. C The death benefit cannot be increased. May be converted to permanent insurance for the children without requiring evidence of insurability. stackoverflow.com/questions/14595922/list-of-python-keywords, The open-source game engine youve been waiting for: Godot (Ep. A Limited Pay What would be the right policy for this client? A father purchases a life insurance policy on his teenage daughter and adds the Payor Benefit rider. C) They are less risk than variable annuities 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 At the insured's age 65 C Level Term This is a type of flexible premium annuity which allows level premiums to be paid into the annuity in regular installments for the purpose of accumulating funds to be used at retirement. C Insured A) Neither the premium nor the death benefit is affected by the insured's age Which of the following statements applies to the rights of a surviving spouse under a group insurance policy? C) Both use the pooling technique to spread the risk. B Interest-sensitive Whole Life Which policy should Hank's insurance agent recommend? B Family Term Which of the following is true? B) Because of a cost-benefit tradeoff, some direct costs may be treated as indirect costs. Jenny Han Husband, Which of the following types of insurance customer is most likely to have the broadest How does the NLT translate in Romans 8:2? B Variable life A) When a contract is surrendered, any surrender charges reduce the contract payout. A Upon conversion, the death benefit of the permanent policy will be reduced by 50%. C Until the policyowner's age 100, when the policy matures. D Creditor requiring that a debtor buys insurance from a certain insurer, Creditor requiring that a debtor buys insurance from a certain insurer, Which policy component decreases in decreasing term insurance? A Policy period C An amount set by statute and adjusted regularly for inflation. Browse other questions tagged, Where developers & technologists share private knowledge with coworkers, Reach developers & technologists worldwide. Which policy should Hank's insurance agent recommend? D Higher. I'm aware that some keywords are verboten as variables. Kindly login to access the content at no cost. a. designing a product and then determining the cost of producing it. A) Are more risky than variable annuities Which of the following laws defined a security product? All of the following statements about life insurance benefits are correct EXCEPT: (A) benefits designated for a named beneficiary are protected from the insureds creditors(B) benefits payable to the insureds estate are protected from the insureds creditors(C) the cash surrender value of a life insurance policy is subject to garnishment if the policy was taken out for the creditors benefit(D) benefits designated for a named beneficiary are protected from the beneficiarys creditors, (B) benefits payable to the insureds estate are protected from the insureds creditors. B Jumping juvenile policy 14) The same cost may be direct for one cost object and indirect for another cost object. Question: All of the following are true about perfect competition firms EXCEPT:a.Products produced by competitors are homogeneous.b.Firms are price takers.c.Prices are set by the market.d.There are only a small number of companies. Which of the following has the right to convert the existing term coverage to permanent insurance? D The SEC. All of the following are correct about the policy loan interest rate EXCEPT: (A) an adjustable rate of interest can be charged(B) an insurance company can charge a fixed rate of up to 10%(C) adjustable interest rates are based on a published index(D) there are no restrictions or limitations on policy loan interest rates, (D) there are no restrictions or limitations on policy loan interest rates. D) Half at the first death, and half at the second death, Which of the following determines the cash value of a variable life policy? 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. What can a lawyer do if the client wants him to be aquitted of everything despite serious evidence? Which of the following types of policies would be best for B? A Allows any income the children make to be included in coverage. There can be more than one level to the independent variable. Which type of life insurance provision/rider does this describe? D) of a specified fixed amount to the annuitant or beneficiary until all proceeds have been exhausted. A The face value of the policy is paid to the insured at age 100. A Modified Endowment Contract (MEC). Your email address will not be published. A Securities The following information is available for the year ended December 31: Beginning Raw Materials + Purchases Ending Raw Materials = Raw Materials Used All of the following statements about the conversion of a term policy are true EXCEPT. All of the following statements are correct about policy loan interest rates EXCEPT: (A) an insurance company can charge a fixed rate of interest up to a maximum of 10%, with some restrictions(B) an adjustable interest rate can be used if the insurance company follows a national corporate bond index(C) an adjustable interest rate can be used if the limit is based on the average monthly published interest rate set by Moodys(D) policy loan interest rates were set by the Office of Insurance Regulation in 1933 and may not be changed, (D) policy loan interest rates were set by the Office of Insurance Regulation in 1933 and may not be changed. B Single life In which of the following ways is a beneficiary protected from the creditors of the deceased insured? A Annually Renewable Term Mace Coronel Danger Force, Comprar Preterite Conjugation, C Minimum deposit whole life t will increase because the insured will be 5 years older than when the policy was originally purchased.
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