They know it will take several years to build the business to the point that they can pay off the debt incurred in starting the business. B) Decreasing Which of the following is the CORRECT number of lives required in Florida for a group life insurance policy? Experts are tested by Chegg as specialists in their subject area. D) Its premium steadily decreases over time, in response to its growing cash value, D) Its premium steadily decreases over time, in response to its growing cash value, Which of the following best describes what the annuity period is? Scientists try to figure out how the natural world works.To do this they use experiments to search for cause and effect relationships. B) A variable annual premium for the life of the insured All customers will continue to pay on the net date. Yamaha Riva 180 Petcock, C) 10% penalty plus tax on the interest earned in the annuity. A The insured's premiums will be waived until she is 21. Which of the following is NOT allowed in credit life insurance? The solar power is being converted into heat and used to cook Sun Chips. Browse other questions tagged, Where developers & technologists share private knowledge with coworkers, Reach developers & technologists worldwide. C Personal Lines 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 A Adjustable Life Vat Suspense Account, 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. An individual purchased a $100,000 Joint Life policy on himself and his wife. B For at least 20 years. Frito-Lay, the multi-billion-dollar snack food giant, requires vast amounts of water, electricity, natural gas, and fuel to produce its 41 well-known brands. All of the following statements are TRUE about variable annuities EXCEPT: (A) Monies invested are professionally managed in accordance with the objective of the holder. A Policy's cash value is dependent on the performance of the equity index. C Fluctuates. B The creditor can only insure the debtor for the amount owed. 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. (B) The premiums are invested in the insurer's general account. C An amount set by statute and adjusted regularly for inflation. 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) Renewable D Decreasing term, Which of the following riders would NOT cause the Death Benefit to increase? Buddha Twitch Age, Which of the following is not a characteristic of a variable universal policy? Cause and effect relationships explain why things happen and allow you to reliably predict the outcomes of . The premium of a survivorship life policy compared with that of a joint life policy would be Integrating Quotes Mla Worksheet, D Payor Benefit, An insured purchased a variable life insurance policy with a face amount of $50,000. (A) If cancelled, the members must be notified(B) There must be at least 25 lives int he group(C) A group member cannot name a beneficiary(D) Any group of individuals is eligible for group life, (A) If cancelled, the members must be notified. Sorrento Therapeutics Pipeline, b. D $60,000, Which Universal Life option has a gradually increasing cash value and a level death benefit? Which of the following is TRUE about credit life insurance? 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? How do I check if a variable is an array in JavaScript? D When the insured reaches age 100. Theoretically Correct vs Practical Notation. b. a new system of accounting for capital depreciation. c. What is the cost of the marginal bad debts? The change in credit terms is expected to increase sales to $510,000. 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. Which policy would you recommend to him? The cost of coverage is a deductible expense by the employer. Which of the following is NOT a reason insurers are subject to governmental regulation? A The borrower's annual income. C Straight Life A Life annuity with period certain A deferred annuity starts payments at a future point at least one year after the annuity is issued and a fixed annuity specifies a guaranteed minimum fixed rate of interest to be paid on the amount invested. Accounting Cycle and Classifying Accounts, Adjusting Accounts for Financial Statements, Asset Demand and Supply under Uncertainty, Business Analytics & Technology Management Chapter 2, Business Analytics & Technology Management Chapter 3, Business Analytics & Technology Management Chapter 4, Business Analytics & Technology Management Chapter 5, Business Analytics & Technology Management Chapter 6, Capital Budgeting and Managerial Decisions, Derivative Instruments and Hedging Activities, External Financial Statements and Revenue Recognition, Financial Intermediaries and Financial Markets, Financial Markets and Securities Offerings, Financial Statements and Accounting Transactions, Integrated Marketing Communications and Direct Marketing, Interactive Marketing and Electronic Commerce, Interpersonal and Organizational Communication, Introduction to Human Resource Management, Introduction to Human Resources Assessment, Managerial Accounting Concepts and Principles, Market Segmentation Targeting and Positioning, Organization and Operation of Corporations, Organizational Markets and Buyer Behaviour, Profitability Analysis and Analytical Issues, Profitability Analysis and Decentralization, Reporting and Analyzing Long Lived Assets, Responsibility Accounting and Performance Measures, Understanding Interest Rates Determinants, All of the following are parties to a life insurance contract EXCEPT: How does the NLT translate in Romans 8:2? C) The premiums are invested in the insurer's general account. A Increasing term A dose friend is starting a new landscaping business around an inland lake used by summer vacationers. B) If the annuitant dies after receiving 12 monthly income payments. Its premium steadily decreases over time, in response to its growing cash value. C Built cash values. A Joint and survivor Which of the following is NOT required when a group life insurance policy is cancelled? Which of the following types of policies allows for a flexible premium and a variable investment component? Which of the following is TRUE regarding the insurance amount in a credit life policy? Which of the following is TRUE regarding an indeterminate premium whole life policy? B Policyowners bear the investment risk. B Premium View desktop site. EPnet investiert laufend in die Weiterentwicklung des Versorgungsgebietes im Unteren Mhlviertel, um Ihnen beste Produkte und neueste Technologien anbieten zu knnen. So what *is* the Latin word for chocolate? The firm currently bills $450,000 for sales and has$345,000 in variable costs. B just bought a new car, which he anticipates will be paid for 4 years from now. If at the end of this period the father is still disabled, the insured will be refunded the premiums. C Decreasing Term C Family members are not provided any rights. Parts of the experiment: Independent vs dependent variables. 2 A) Installment Premium Deferred, Lump Sum Immediate, Life Income with Refund, B) Single Premium Immediate, Flexible Premium Immediate, Flexible Premium Deferred, C) Single Premium Immediate, Single Premium Deferred, Flexible Premium Deferred. Eight years later, he died in an automobile accident. (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. B It can be a limited premium payment policy. D) It may last for the lifetime of the annuitant, D) It may last for the lifetime of the annuitant, All of the following entities regulate variable life policies except B It will increase because the insured will be 5 years older than when the policy was originally purchased. Informative Essay Army Values, D) Amount and length of payments, A Return of Premium term life policy is written as what type of term coverage? In an Adjustable Life policy all of the following can be changed by the policy owner EXCEPT (A) It is written with a master policy for members of qualified groups(B) A group member is prohibited from assigning incidents of ownership(C) Group life rates are generally higher than those for individual policies(D) Only the group member can pay the premiums for the group policy, (A) It is written with a master policy for members of qualified groups. In keeping with growing environmental concerns, Frito-Lay has initiated ambitious plans to produce environmentally friendly snacks. Browse over 1 million classes created by top students, professors, publishers, and experts. B) Level B) Benefit payment amounts are not guaranteed B) Built cash values Connect and share knowledge within a single location that is structured and easy to search. B Single Premium Whole Life What information does Form W-3 contain? (A) Coverage continues at the same rate and premium(B) Conversion privileges must be provided for dependents(C) Conversion privileges extend to the spouse but not to the children(D) Conversion rights of the surviving spouse are less than those which the insured employee possessed, (B) Conversion privileges must be provided for dependents. Which of the following is a requirement that a professional association must meet to obtain group insurance? (A) Whole life(B) Term life(C) Endowment plan(D) Fixed annuity. B) Under an original age conversion, the policyowner must pay a financial adjustment in addition to the premium for the new policy. A It will increase each year during the next 5 years as the face amount increases each year. B Universal life All of the above are correct. He also wants to buy a life insurance policy, but is financially limited until the car is paid off. A Decreased death benefit at each renewal. D The minimum death benefit is guaranteed. Brainscape helps you realize your greatest personal and professional ambitions through strong habits and hyper-efficient studying. What do Modified Life and Straight Life policies have in common? A Return of Premium term life policy is written as what type of term coverage? 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? A The insured may renew the policy for another 10 years at the same premium rate. A) Securities license is not required C Adjustable Life Which of the following riders would NOT cause the Death Benefit to increase? A To limit the insurer's liability after the 2 year waiting period C) Annual Renewable Term Why does the impeller of a torque converter sit behind the turbine? Lengthening the credit period Parker Tool is considering lengthening its credit period from 30 to 60 days. All of the following are eligible groups under Florida law EXCEPT: (A) associations of licensed professionals(B) debtors of a single creditor(C) members of a credit union(D) groups established to buy insurance. Your client wants both protection and savings from the insurance, and is willing to pay premiums until retirement at age 65. A) The Guaranty Association Click Submit to complete this assessment. A Single premium whole life. 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. What type of life insurance policy would be best suited to this situation? 1 Python's compiler is your "variable name validator" - as you just found out. Answer: D LO: 1 Type: RC. Experiments are usually designed to find out what effect one variable has on another - in our example, the effect of salt addition on plant growth.. You manipulate the independent variable (the one you think might be the cause) and then measure the dependent variable (the one you think might be the effect) to find out what this . Which of the following statements is correct regarding this change? When the insured dies, the insurer pays the remaining balance on his home loan. d. minimizing international transportation costs. Universal life and variable universal life insurance have flexible premiums. C) Invest conservatively C) They have a guaranteed minimum interest rate Benefits are paid to the borrower's beneficiary. C)The minimum death benefit is guaranteed. D The performance of the policy portfolio, Which of the following would be the beneficiary in credit life insurance? A Determined by the health of the insured. D Level Term. B) Contributions may be as often and as large as the owner desires. D The borrower's monthly income. 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. B) Upon annuitization, the annuity payments are level. C Decreasing Term c) Variables can be described but not measured. A Waiver of premium C Total contract. A Accidental Death Rider (D) The cash value is not guaranteed. b) Variables can take the form of observations of an organism or different experimental conditions in a study. C Payor Benefit Rider The creditor can only insure the debtor for the amount owed. C It insures the life of a debtor. B) It is the period during which the annuity payments earns interest Road Bikes Sale, Which policy should Hank's insurance agent recommend? b) Variables can take the form of observations of an organism or different experimental conditions in a study. All of the following are true about variable products EXCEPT A)Policyowners bear the investment risk. Privacy Policy. Which of the following types of policies would be best for B? C Variable Universal Life A) Both are considered to be more risky than variable annuities B Increasing Term Required a premium increase each renewal. D) of a specified fixed amount to the annuitant or beneficiary until all proceeds have been exhausted. D) The death benefit can be increased only by exchanging the existing policy for a new one, A) The death benefit can be increased by providing evidence of insurabillity, Which statement is NOT true regarding a Straight Life policy? C) They have a guaranteed minimum interest rate 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. Lower loss adjustment expenses. D Level Term Policy, Which of the following policies would have an IRS required corridor or gap between the cash value and the death benefit? Underwriter D FINRA registration. A Borrower B) It has a guaranteed minimum interest rate B) The death benefit cannot be increased What type of life insurance policy would be best suited to this situation? C) The payable premium amount steadily declines throughout the duration of the contract 1. Vacuum hoses that pull moisture from potato slices to recapture the water and to reduce the amount of heat needed to cook the potato chips are also being used. When an insured under a life insurance policy died, the designated beneficiary received the face amount of the policy, as well as a refund of all of the premiums paid. D The cost of coverage paid by the employer is tax deductible by the employees. C Universal Life - Option A D Survivorship Universal Life. 11) All of the following statements about variable costs are true EXCEPT 11) A) they are constant as output increases. A The company's general account D Be level thereafter. B The premiums will become tax deductible until the insured's 18th birthday. If the father becomes disabled, what will happen to the life insurance premiums? C Graded Which of the following will have to meet an insurable interest requirement in order for a policy to issue? C) Required proof insurability every year They can convert their coverage to permanent life insurance without evidence of insurability. The payable premium amount steadily declines throughout the duration of the contract. B. direct labor. Gerald wants a life insurance policy in which he can choose the investment vehicle. Any proceeds remaining, if any, are kept by the insurance company. Site design / logo 2023 Stack Exchange Inc; user contributions licensed under CC BY-SA. 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