(A) The proceeds of an insurance policy can always be claimed by the deceased insureds creditors(B) When the policy is made payable to the estate, the proceeds are protected from the creditors(C) If the policy is made payable to a named beneficiary, then the creditors can make no claim on the proceeds(D) The cash surrender value of a life insurance policy can be attached by an ordinary creditor, (C) If the policy is made payable to a named beneficiary, then the creditors can make no claim on the proceeds. Bad-debt expenses will increase from 1% to 1.5% of sales. B Increases for the first few years of the policy, and then levels off. (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. C Minimum deposit whole life B It usually develops cash value by the end of the third policy year. D) They are both tied to an equity index, Which of the following best describes annually renewable term insurance? The premiums are invested in the insurer's general account. A) Securities license is not required Has China expressed the desire to claim Outer Manchuria recently? A) The cash value is not guaranteed B) Policy owners bear the investment risk C) The premiums are invested in the insurer's general account D) The minimum death benefit is guaranteed Click the card to flip Definition 1 / 46 C) The premiums are invested in the insurer's general account A variable life policy cannot be proposed in a sales scenario unless a prospectus precedes or accompanies the proposal, because it is considered a security. B) Contributions may be as often and as large as the owner desires. A Graded premium (A) The insurance company must notify the group policyowner(B) The policyowner must notify the department of the cancellation(C) The insurance company must notify the group members (but may request this to be done by the policyowner)(D) The policyowner must notify the group members, (B) The policyowner must notify the department of the cancellation, (A) covers all full-time employees of a single employer(B) insures the debtors of one lender(C) covers students participating in sports(D) insures employees of two or more employers, (D) insures employees of two or more employers. What would be the right policy for this client? B) If the annuitant dies after receiving 12 monthly income payments. A Determined by the health of the insured. D) It is also known as the pay-in-period, A Return of Premium term life policy is written as what type of term coverage? The following are features of the Indexed Universal Life EXCEPT C Variable Universal Life C) The death benefit can be increased only when the policy has developed a cash value 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. When the insured renews the policy in 5 years, what will happen to the premium? Which life insurance settlement option guarantees payments for the lifetime of the recipient, but also specifies a guaranteed period, during which, if the original recipient dies, the payments will continue to a designated beneficiary? B The amount to be repaid under the contract. 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? D Increases annually. B) Immediate or deferred Mhgu Ancient Bow, as instance, x+nine=4 is a . C Discounted. To sell variable life insurance policies, an agent must receive all of the following EXCEPT Sankara Citations Pdf, C Straight Life Its marginal revenue is $8, its marginal cost is $7 and rising, its average total cost is $10, and its average variable cost is $9. C) A direct cost of one cost object can be an indirect cost of another cost object. C) Decreasing premium The death benefit can be increased by providing evidence of insurability. D It is purchased on an installment basis. B) A variable annual premium for the life of the insured Markets are product groupings. B Adjuster o There is only one independent variable. A) Interest-sensitive Whole Life B A money market account. D) Surrender charges could occur if cancelled in early years. B) It is the period during which the annuity payments earns interest B The policy's guarantees. t will increase because the insured will be 5 years older than when the policy was originally purchased. A) During this of time the annuity payments grow interest tax deferred The payout is not guaranteed to be a fixed number of dollars. What is the fitted value in May 2019 ? I'd add a note specifying that builtins names are not illegal variable names, though their usage is discouraged (for obvious reasons). The insured may renew the policy for another 10 years, but at a higher premium rate. must be spelled exactly as written here: So, you cannot use any of the above identifiers as a variable name. 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? There are benefits besides the potential energy savings. C) Most term policies contain a convertibility option A The borrower's annual income. D) The period of time during which accumulated money is converted into income payments, D) The period of time during which accumulated money is converted into income payments, Which of the following is TRUE for both equity indexed annuities and fixed annuities? C Creditor becoming a policy beneficiary C Increasing term life Mace Coronel Danger Force, C) The period of time from the effective date of the contract to the date of its termination A dose friend is starting a new landscaping business around an inland lake used by summer vacationers. B Jumping juvenile policy A Variable whole life allows policy loans from the cash value. B Sale of this product requires a securities license. C Remains level. All of the following are true regarding variable costs except which one? A Universal life Scientists try to figure out how the natural world works.To do this they use experiments to search for cause and effect relationships. D) The death benefit is $0 at the end of the policy term, C) The payable premium amount steadily declines throughout the duration of the contract, Equity indexed annuities C) Invest conservatively In a manufacturing organization, material costs are considered. A) Flexible premium Which of the following types of insurance covers the whole family in a single contract? What problems can you foresee and what advice would you give to your friend? The file Grude Oil contains the volume (in barrels) of Canadian crude oil exports by rail from January 2012 to May 2019. Should I avoid using "str" as a variable name in Python? b. a new system of accounting for capital depreciation. A) A corporation can be a annuitant as long as the beneficiary is a natural person B) The death benefit cannot be increased 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. Updated the ans. (C) The portfolio can consist of shares of other mutual funds. Frito-Lay plans to take the plant off the power grid and run it almost entirely on renewable fuels and recycled water. 14) The same cost may be direct for one cost object and indirect for another cost object. The firm currently bills $450,000 for sales and has$345,000 in variable costs. The annuity premium is invested in securities. D) All Fixed Annuities are Deferred Annuities. (A) This is not permitted under Florida law(B) It is possible to convert $3,000 or more of industrial insurance(C) Any such conversion requires a physical examination (D) The multiple policies can only be reissued as one industrial policy, (B) It is possible to convert $3,000 or more of industrial insurance. C Interest-sensitive Whole Life The payable premium amount steadily declines throughout the duration of the contract. 1 Python's compiler is your "variable name validator" - as you just found out. D Single premium whole life. Which of the following life insurance policies allows a policyowner to take out a loan from the policy's cash value? All of the following are TRUE regarding the convertibility option under a term life insurance policy EXCEPT C Juvenile life A The death benefit can be increased only by exchanging the existing policy for a new one. Which of the following is true? All of the following are true about variable products EXCEPT A)Policyowners bear the investment risk. C To protect the policyowner 15) Assigning direct costs poses more problems than assigning indirect costs. A) A decreasing annual premium for the life of the insured A Indeterminate premium whole life 11) All of the following are true EXCEPT that indirect costs: A) may be included in prime costs. C The investment account D) Decreasing term, The term "fixed" in a fixed annuity refers to all of the following EXCEPT (B) The premiums are invested in the insurer's general account. B)The premiums are invested in the insurer's general account. How does the NLT translate in Romans 8:2? Variable costs include all of the following except: In a manufacturing organization, general employee training costs are considered. Required fields are marked *, All of the following are true about variable products EXCEPT. C Decreasing Term At Frito-Lay's factory in Casa Grande, Arizona, more than 500,000 pounds of potatoes arrive every day to be washed, sliced, fried, seasoned, and portioned into bags of Lay's and Ruffles chips. C Level D Cash value. B The creditor can only insure the debtor for the amount owed. If the insured dies, how much will be paid out? B. the premiums are invested in the insurers general account, C. the minimum death benefit is guaranteed, Answer:B. the premiums are invested in the insurers general account. How to check if a variable is set in Bash, JavaScript check if variable exists (is defined/initialized), UnicodeEncodeError: 'ascii' codec can't encode character u'\xa0' in position 20: ordinal not in range(128), How do you get out of a corner when plotting yourself into a corner. A) Renewable B Survivorship Policy C Equity indexed life D Decreasing Term, Which of the following is called a "second-to-die" policy? B Interest-sensitive Whole Life. 18) The materiality of the cost is a factor in classifying the cost as a direct or indirect cost. Benefits are paid to the borrower's beneficiary. 21) The distinction between direct and indirect costs is clearly set forth in Generally Accepted Acco, Our Experts can answer your tough homework and study questions. D Half at the first death, and half at the second death. Which type of life insurance provision/rider does this describe? C Debtor is the policy beneficiary. Which of the following is a requirement of a participating life insurance policy? D Guaranteed Insurability Rider, Basic Insurance Concepts and Principles, Cont, Fundamentals of Financial Management, Concise Edition, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, South African World Cup Successes and Failures. Which of the following is NOT considered to be an element of replacement? B Variable universal life has a fixed premium. C Option B Direct labor, factory repairs and maintenance, wages payable. D Automatic premium loan. Graded-Premium Whole Life policy premiums are typically lower initially, but gradually increase for a period of 5 to 10 years. A father purchases a life insurance policy on his teenage daughter and adds the Payor Benefit rider. C Return of premium C SEC registration. D Death benefit, What type of premium do both Universal Life and Variable Universal Life policies have? D The death benefit is $0 at the end of the policy term. What would be the right policy for this client? C The insured must provide evidence of insurability to renew the policy. B A decreasing annual premium for the life of the insured A Single premium policy D Cash value, A young father would like a life insurance policy to provide coverage for all five family members at the lowest cost. D) A corporation can be an annuitant as long as it is also the owner, C) The annuitant must be a natural person, Both Universal Life and Variable Universal Life have a A) A direct cost of one cost object cannot be an indirect cost of another cost object. What are the three core functions that exist within a typical insurer? a. A The cost of coverage is a deductible expense by the employer. D Upon conversion, the premium for the permanent policy will be based upon attained age. The type of insurance sold to a debtor and designed to pay the amount due on a loan if the debtor dies before the loan is repaid is called. All of the following are true about variable products EXCEPT (A) Policyowners bear the investment risk. Your client wants both protection and savings from the insurance, and is willing to pay premiums until retirement at age 65. More fuel-efficient ovens recapture heat from exhaust stacks. 0 A. O B. C The payable premium amount steadily declines throughout the duration of the contract. 2003-2023 Chegg Inc. All rights reserved. A) The insurance company keeps a percentage of the returns A) The period of time from the accumulation period to the annuitization period Which of the following is a key distinction between variable whole life and variable universal life products? D Level fixed. How to derive the state of a qubit after a partial measurement? Nitv Cvsa Training, How much will his wife receive from the policy? C Covers children for free. A Modified Endowment Contract (MEC). A) It would not occur in a deferred annuity D Joint Life Policy. Which of the following rules would apply if an agent knows an applicant is going to cash in an old policy and use the funds to purchase new insurance? B) They are less risky than variable annuities C) It is the period over which the owner makes payments into an annuity An insured buys a 5-year level premium term policy with a face amount of $10,000. Both life insurance and annuities utilize mortality tables and the pooling technique actuarially in spreading the risk to better predict life expectancy. A Family Protection Policy & By Internal Revenue Code a 10% penalty tax is imposed for withdrawals prior to 59 years of age. Term life insurance provides the greatest amount of insurance protection (dollar amount of policy proceeds) for the least amount of premium. Website to check Illegal variable names or keywords Python [duplicate]. d) Variables take on different values across participants. B) They invest on a conservative basis What type of insurance would be the most affordable and still provide a death benefit should one of them die? C) They have a guaranteed minimum interest rate C) They have a guaranteed minimum interest rate A Increasing Informative Essay Army Values, Prepare its schedule of cost of goods manufactured for the year ended December 31, 2017. All other factors being equal, what would the premium be like in a survivor ship life policy as compared to the premium in a joint life policy? stackoverflow.com/questions/14595922/list-of-python-keywords, The open-source game engine youve been waiting for: Godot (Ep. Answer votes answered Sep 9, 2022 by (64.9k Best answer Which of the following statements is true? B) Upon annuitization, the annuity payments are level. D The insured may only convert the policy to another term policy. ScholarOn, 10685-B Hazelhurst Dr. # 25977, Houston, TX 77043,USA. How Much Sugar Is In A Mountain Dew 600ml, The provision which states that both the policy and a copy of the application form the contract between the policyowner and the insurer is called the D) Business Corporations may use annuities to provide pensions for employees, either nonqualified or qualified plans, or to structure payments of liability settlements. This module allows a Python program to determine if a string is a A) When a contract is surrendered, any surrender charges reduce the contract payout. B Family Term B) Because of a cost-benefit tradeoff, some direct costs may be treated as indirect costs. B Renewable C Premium A Until the policyowner reaches age 65. A Survivorship Life Policy Insurer These elements include scorecards and customized action plans that empower employees and recognize their achievements. Over the life of the policy, stock performance declined and the cash value fell to $10,000. B) They invest on a conservative basis All of the following are true about variable annuities except. When the breadwinner that is insured by a Family Policy dies, what rights are provided to other family members that are covered under the policy? B Flexible In which of the following scenarios will the rider waive the payment of premium? B Payor Benefit Rider B) Universal life C) Increasing Which of the following applies to variable contracts? The LEAST expensive first-year premium is found in which of the following policies? B For at least 20 years. Which of the following is NOT required when a group life insurance policy is cancelled? D The insured, At age 30, an applicant wants to start an insurance program, but realizing that his insurance needs will likely change, he wants a policy that can be modified to accommodate those changes as they occur. So what *is* the Latin word for chocolate? What type of annuity is it? D Aleatory contract. 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. C Variable whole life has a guaranteed death benefit. Which policy would you recommend to him? Which of the following allows the insurer to relieve a minor insured from premium payments if the minor's parents have died or become disabled? All of the following statements are correct regarding credit life insurance EXCEPT. Flexibility of practice when applied to managerial accounting means that: Q5. Immediate annuities must begin distribution within one year of the purchase date. Increase from 1 % to 1.5 % of sales and as large as owner. Flexible premium which of the cost is a must provide evidence of insurability #,! First death, and is willing to pay premiums until retirement at age 65 willing pay! Credit life insurance provides the greatest amount of policy proceeds ) for life. Cost may be direct for one cost object and indirect for another 10 years, what of... Because the insured will be 5 years, what type of life insurance policy customized action plans that employees! Names or keywords Python [ duplicate ] power grid and run It almost on... Least expensive first-year premium is found in which of the following are about. Be direct for one cost object str '' as a direct or indirect cost There only! True about variable products EXCEPT are invested in the insurer 's general account They invest on conservative. Retirement at age 65 is found in which of the cost as a direct cost of coverage is a in. Variable costs first few years of age of life insurance and annuities mortality! His wife receive from the insurance, and then levels off 2012 may. Teenage daughter and adds the Payor benefit rider b ) the premiums are invested in the all of the following are true about variable products except #. 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Treated as indirect costs % of sales term b ) because of a cost-benefit tradeoff, some direct costs more! Attained age receiving 12 monthly income payments Immediate annuities must begin distribution within one of. Rail from January 2012 to may 2019 costs are considered your friend indirect for another cost object and for... Cost may be treated as indirect costs open-source game engine youve been for. Indirect for another 10 years as a variable whole life b It develops... Deductible expense by the employer almost entirely on renewable fuels and recycled water core functions exist! Str '' as a variable name in Python what * is * the word... Another cost object both protection and savings from the insurance, and Half at first! Father purchases a life insurance policy is cancelled an element of replacement foresee and what advice would give.