Each brother purchases a life policy that has a $750 annual premium. The cash values are 75% of death benefit at the end of 7 years. Under federally tax-qualified long-term care insurance plans, all benefits received are fully exempt from taxable income EXCEPT. 29. b. Insurance is a contract where one party agrees to indemnify the loss of other party at the time of loss, for a consideration. Beneficiaries who receive benefits under life insurance policies after the insureds death must pay income tax on the death benefits they receive. The team is focused on delivering on an exceptional customer experience to our subscribers. All of the following are true about umbrella liability EXCEPT: A. The problem is that your insurance company is not really interested in protecting you. A. Organizational theory provides information regarding the way in which people, teams, and organizational units behave. c. The policy is Employee and employer contributions are not counted as income to the employee for income tax purposes. A. Health insurance or medical insurance (also known as medical aid in South Africa) is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses.As with other types of insurance is risk among many individuals. Mike buys a 10-year renewable term policy. b. All of the following are true EXCEPT (a) Interest income received by a corporation is taxed as ordinary income. You are eligible for S-DVI if all of following are true: You were released from active duty under other than dishonorable conditions on or after April 25, 1951.

Add or share equipmentc. The cost of defending and perfecting a title. All of the choices are true. D. The exclusion from income Steve is taxed on $62,000 of plumbing income this year. All of the following statements about life insurance are true, EXCEPT: Select one: a. c) LTC Thirty-two of the thirty-three developed nations have universal health care, with the United States being the lone exception (b) Numbering (1) FAR provisions and clauses. All of the following are correct about the required provisions of a health insurance policy EXCEPT: (A) a grace period of 31 days is found in an annual pay policy (B) the entire contract Log in for more information. (a) Definition. Mike and Ike are 30 year old identical twins.

Enrollees in a group life insurance plan usually do not have to provide proof of insurability. It protects against uncertainty and reduces anxiety. Statement 2 is true and statement 1 is false III. The report is based on comparative analysis of insurance rates in all 50 states from nine of the largest national Collapse b.earthquake c.flood d.wear and tear A. 8. d. All of the following statements about the requirements to reinstate a lapsed life insurance policy are true EXCEPTA) Evidence of insurability is required.B) The lapse must have resulted from other than the surrender of the policy for its cash value.C) All overdue premiums must be paid along with interest from the premium due dates.D) There is no time limit on when the There must be at least 3 months between enrollment periods for individual coverage. You are in good Study with Quizlet and memorize flashcards terms like The Common Policy Conditions in commercial property insurance include all of the following, except: A Transfer of Rights and Duties B Changes C Inspections and Surveys D Fire Department Service Charge, Which of the following is excluded under the Basic Causes of Loss form? The Social Security Act of 1935 provided all of the following except. An insurance company. From policy issuance all the way through to the fast, fair, and friendly handling of a members claim. A life insurance applicant asks to pay a sizeable initial deposit using a third-party check. COBRA qualifying events for spouses would be all of the 7) Responsibilities of a CFO include all of the following EXCEPT: A) providing financial reports to shareholders B) managing short-term and long-term financing C) investing in new equipment D) preparing federal, state, and international tax returns "Modification," as used in this subpart, means a minor change in the details of a provision or clause that is specifically authorized by the FAR and does not alter the substance of the provision or clause (see 52.104). Change labor skill mix Question 3 Safety capacity is intended for all of the following except a. power outagesb. The following questions are multiple choice. most of the costs are likely to be indirect in nature.e. All of the following are reasons for avoiding disciplimary actions against employees except: supervisors fail to properly document earlier offenses: To keep organizational rules effective, employers should do all of the following except: make certain that all rules are communicated orally to all employees Correct. Quiz Answers and Explanations. a. Unit holder can choose between different kind of funds B. A potential life insurance customer repeatedly asks about early surrender charges and the free-look privilege. the Internet has lowered search costs, increased price comparison, and decreased prices to consumers for all forms of premium to be paid. The policy face amount is paid out only upon the death of the first insured to die. 1. All of the following are characteristics of a group life insurance plan EXCEPT. On November 26, President Bush signed into law a Federal program that, in effect, requires property and casualty insurers doing business in the United States to offer coverage for incidents of international terrorism; and reinsures a large percentage of that insured risk. All of the following statements concerning contract law are correct, except: A An insurance policy is a legal contract between 4 parties B Contract law pertains to the formation and 44.4 Disadvantages of a death benefit only plan include all of the following except: a. entire benefit is taxed as ordinary benefit when received by beneficiary. B. The following are all causes for the Insurance Commissioner to suspend or impose conditions upon the continuance of a producer's license EXCEPT 1. Unemployment insurance (UI) provides temporary payments to individuals who are All the following are true about group insurance, except: A. An all-risk property insurance policy means that the policy will cover everything, except the perils which are clearly listed under the exclusion head. Ike purchases a whole life policy. All of the following statements are true about insurance agents and agency EXCEPT the principal is never responsible for the acts of its agents. All of the following are true regarding the use of insurance, except: Choose one answer. (p. 258) Homeowner's insurance covers all except A. b. employees do not have to do anything they consider to be unethical. B) Seeking and unemployment insurance. All of the following statements regarding contracts of indemnity are true EXCEPT a. Note 2 United States News and World Report's Cheapest Car Insurance Companies in 2021 report named United Services Automobile Association(USAA) as the cheapest car insurance company for nearly every driver demographic in the United Services. Mike buys a 10-year renewable term policy. rental costs of the factory facility. B) Reinsurance is an arrangement by which the primary insurer that b. keeping the death benefit out of the insureds gross estate requires careful and complex planning 1. Weegy: Ideally, the author states the main thesis for a chapter in the first paragraph or two. c. It offers premiums that are quite low compared to what is charged on separate policies . If a business uses a life insurance policy for business purposes, premiums are made with after-tax dollars. The policy face amounts are usually more than $1,000,000 . Each brother purchases a life policy that has a $750 annual premium. Each covered employee receives a policy. All of the following are true regarding health insurance policies, EXCEPT: A) An agent may change an application with the verbal consent of the applicant B) When a policy is issued with It is not guaranteed -TRUE C. It fluctuates based on the rise and fall of market prices -TRUE D. It is linked to the performance of the investment fund managed by the life company-TRUE 7. Conviction of a felony involving moral Select the most appropriate answer and darken the circle under the corresponding letter on the answer sheet. ID: 543500.

old-age pensions. By estimating the overall risk of health risk and health system expenses over the risk pool, an insurer can develop a routine An applicant's consideration in an insurance contract refers to the. All of the following statements about universal life insurance are true EXCEPT Any withdrawal of a policy's cash value reduces the amount of the death benefit. Samantha Silberstein. An agent owes a client all of the following except: A. accountability B. competence C. confidentiality D. rebates 9. the monthly premium on an insurance policy. 66. Group Life Insurance Definitions. b. all of the following are true of key person insurance EXCEPT. a. employers cannot force employees to take actions that are illegal. a. See Page 1. Reaching the age of 65. include rent, insurance and utilities.d. Which of the following is TRUE about insurance companies and the medications that are covered by their policies? 59. All of the following are true of insurance except: a) protects against uncertainty b)means sharing of loss c)eliminates risk d)transfers risk Answer: D. Jack and Jill are married. e. to raise and support an army and navy. A. A cause-effect 6/17/2022 9:13:54 AM| 22 Answers. It transfer risk from the insured to the insurer. A customer injured on the Sell unused capacityd. All policy forms must contain a certification by either the CEO of the insurer or an actuary of the insurer attesting that the form complies with the laws of the state. If an insurance companys policy form contain a certification by the CEO, which of the following is true regarding those forms? The policy endows in 7 years. Commercial inland marine insurance policies generally cover more perils than commercial property policies cover. All the following are true about group insurance, except:A. c. It is designed to be used to protect the insured from dishonest acts. All of the following is true regarding ULIPs EXCEPT: A. a) Every policy must offer reduced paid-up insurance to the applicant. All of the following statements are true regarding rules for solicitation, except: An insurer failing to pay When you buy insurance, you are generally making a conscious decision to ensure that you are protected. c. b. B. D. $5,750, plus a maximum 1% increase in market value per year. The umbrella provides insurance on an Question: Which of the following is a requirement that a D. Jenny, from London, has two-year teaching experience in a kindergarten in Hangzhou. It means, that if something does not specifically exclude from the all-risk property insurance policy, Dave is taxed on $62,000 of plumbing income this year. All of the following are characteristics of group life insurance EXCEPT. December 2002. What is not true about Variable rate products: A. are considered securities B. are not monitored by the Federal Government C. are regulated by state requirements D. require special training 10. Definition. The correct answer is: Enrollees must provide proof of insurability. All of the following are true statements regarding LTC Partnership contracts EXCEPT: Insurers wishing to sell these contracts must meet very stringent standards, and provide minimum $5,500 the first year, plus a maximum 2% increase in market value per year. 6. This answer has been confirmed as correct and helpful. Which of the following is a true statement? For example, a typical commercial inland marine policy would cover loss by all the following perils, Except: a.

2) Period costs: are treated as expenses in the period they are incurred. a commission paid to the agency for the purchase of a policy. Whole life insurance is regarded as permanent insurance and is generally more expensive than term insurance. assets. support for the blind and physically handicapped. 23. Answer: E. Flag This Answer As Incorrect Flag Answer Incorrect d. All of the following statements about the requirements to reinstate a lapsed life insurance policy are true EXCEPTA) Evidence of insurability is required.B) The lapse must have resulted Super Value Store has a commercial general liability policy written with a general aggregate limit of $300,000 and an occurrence limit of $100,000. Embezzlement. b. to borrow money. 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 21. Which of the following statements is true regarding LTC insurance? All of the following are true regarding the use of insurance, except: Choose one answer. A) Mikes policy will develop no cash value over the policys term 44.1 True [p. 337] 44.2 True [p. 338] 44.3 True [p. 337] Multiple Choice. All of the following statements about the online insurance industry are true except: Group of answer choices the industry has been very successful in attracting visitors All of the following are true about insurance, except Answer: Insurance is a mechanism for handling speculative risk. All of the following are true regarding California unemployment benefits except: A. Group insurance in which the employees contribute 100% of the premium are called: -Contributory b 9. 9 What kind of policy does NOT typically require proof of insurability? 1. Individual insurance 2. Group insurance 3. Variable universal life 4. Term insurance 2. Group insurance 10 Which law is the foundation of the statistical prediction of loss upon which rates for insurance are calculated? The charity is named as the beneficiary. 2. the applicant will have to wait additional time before coverage begins. In an insurance policy, exclusions and conditions are conspicuous, plain and clearly stated. all of the following except one, are deductible from the gross estate of a decedent who died September 30, 2006 a. income tax on income earned from January to September 29, 2006 b. gift taxes on donations given June 12, 2006 c. real property taxes payable during the last quarter of 2006 d. income tax on income earned during the last quarter of 2006

All of the following are requirements for obtaining a resident producers license EXCEPT: A) Passing examination with 75% or higher score. The policy is not related to group coverage. C. Section 179 deduction. Most insurance policies contain a specific limit that an insurer will pay for a single claim. Answer: If they routinely use,create or distribute protected health information on behalf of a covered entity. b. All of the following are producer responsibilities to the applicant, except: A) Reviewing and evaluation the applicants current insurance coverage, limits, and risks. N's totally disabled for three and a half months. [ TRUE. B. Funds accumulate on a tax-deferred basis. All of the following can be completed through the "My Organization Profile" page, except: A. 124. Both are in excellent health. B. b) LTC policies may not include any riders. a. insurance on the factory equipment. b. Premium are determined by the age, sex and occupation of each individual certificate holder. The cash value at the end of year 7 exceeds the total premiums paid. c. when disputes arise between employer and employees, the law generally favors the employer.

equipment breakdownsc. Trees and shrubs C. A tool shed D. Personal property E. All of these are covered Bloom's: Comprehension Difficulty: Medium Learning Objective: 2 Topic: Property insurance 60. All of the following are true of insurance except: a) protects against uncertainty b)means sharing of loss c)eliminates risk d)transfers risk. b. A person All of the following are qualifying events for Medicare EXCEPT: A. You were rated for a service-connected disability (even if only 0%). All of the following are true statements about operations-based exercises except: All of the following are true statements about operations-based exercises except: They use in-depth discussion as a means to problem solve. All of the following statements about survivorship life insurance are true, except. All of the following are true statements about operations-based exercises except: All of the following are true statements about operations-based exercises except: seasonal demandd. The person buying the policy pays the premiums, which are usually tax-deductibl economic provisions for the blind and disabled. 1) All of the following are examples of product costs except: depreciation on the company's administrative offices. In the course of his business, he might reasonably consider all of the following to be suspicious activities EXCEPT: a. All of the following statements about Group Insurance are true, except: a. a. The following taxpayers with income within and outside Philippines may claim basic personal exemption except: non- resident alien engaged in trade or business. are directly traceable to products. Questions and Answers. The kindergarten will provide the following benefits EXCEPT . A Sinkhole collapse B Sprinkler equity. (b) Corporations pay taxes on all dividends received Add peripheral goods and/or servicesb. N's total benefit received on this claim is $1,250. A policy issued to an employer, or to the trustees of a fund established by an employer, which employer or 1. the key employee is the insured 2. the plan is funded by permanent insurance only 3. there is no limitation on the All of the following are correct regarding Key Person Insurance, except: Choose one answer. Life insurer provides guarantee for unit values C. Units may be purchased by payment of a single premium or via regular premium payments D. ULIP policy structure is transparent with regards to the insurance expenses component Answer: Option B It protects against uncertainty and reduces anxiety. c. to establish a post office and post roads. C. Being poverty stricken. All of the following are TRUE of the federal tax advantages of a qualified plan EXCEPT. A) annual benefits that (38) Excerpt Links (1). knowledge of the agent is assumed to be Statement 1 is true and statement 2 is false II. AMRM/AMIE understands the marketplace and coverage needs. revenues. The policyowner can add to a B. Mike and Ike are 30 year old identical twins. 1. 3. there will be a delay in the underwriting process. A) Steve is taxed on $62,000 of income from gifts received this year. health care for the poor. All of the following statements are true, EXCEPT. It is assured -FALSE B. B. C. $5,750 the first year, plus a maximum 2% increase in market value per year. Update 1/21/2013: With the Supreme Court's decision to uphold the ACA (aka Obamacare), and President Obama's inauguration to a second term today, the US will have universal health care in 2014 using an insurance mandate system. Answer:. Proceeds are tax-free. B) Being 18 years of age or older. Both are in excellent health. subpart 52.2 sets forth the text of all FAR provisions and clauses, each in its own separate subsection. All of the following are true regarding an individual life insurance grace period, EXCEPT: A) Death during the grace period is covered B) It is usually 30 days on individual life policies C) What will the new owners pay in property taxes? Generally, in an employer sponsored and paid for group, the employer (plan sponsor) owns, controls, and defines all An insured should not be surprised when the company denies a certain benefit or coverage because of a hidden clause. material shortages Question 4 The Fair Access to Insurance Requirements (FAIR) Plan is a state-mandated program that provides fair access to insurance for individuals who are having trouble insuring their property due to the fact that insurers consider them high risk. All insurance companies are just that, insurance companies. All of the following are TRUE regarding incomplete applications EXCEPT 1. the underwriting department will return the application to the agent. salary of the plant manager. A life insurance policy normally contains a provision that restricts coverage in the event of death under all of the following situations EXCEPT What does the guaranteed insurability option allow an insured to do? All of the following are true regarding business life insurance EXCEPT: If a business purchases group insurance for the benefit of its employees, employer-paid premiums are not tax-deductible. Section 1. are more easily tracked to products.b. The Human Development Index measures all of the following except insurance rates. the policy would be paid-up in less than 7 years). Except as provided in Section 2, no policy of group life insurance shall be delivered in this state unless it conforms to one of the following descriptions: A. are frequently direct in nature.c. I. 2. Manage answers to Essential Elements of Information B. Edit the organization C. Upload insurance documentation D. Request Public Assistance answer choices It transfer risk from the insured to the If they are considered a covered entity under HIPAA. B. Brainscape: The Best Flashcards App | Make Flashcards Online All of the following were powers that the Constitution explicitly gave to Congress EXCEPT: a. to establish a national bank. A detached garage B. $5,600 every year, with no increase. The first 7 years of total premiums paid into a life policy exceed the net premiums of a 7-Pay Policy (i.e. The following statements are true except: the filipino citizen employed in an offshore banking unit in the Philippines is classified as special alien.

There are no new answers. Incorrect. The following businesses, formed after 1996, are automatically classified as corporations except: A. In comparison to the traditional manuf acturing environment, overhead costs in a JIT environment all the following are true except:

a. A partnership, which possesses at least three of the following All of the following statements about the online insurance industry are true except: Group of answer choices the industry has been very successful in attracting visitors searching for information about prices and terms of insurance policies. d. Casualty or theft loss deductions and insurance reimbursements. Coverage is taken out on the life of the person buying the policy. 2) Group health insurance provides coverage only to employer-employee groups. All of the following statements are true EXCEPT. EVERFI All of the following are true about organizational theory EXCEPT: A. Which of the following statements about the investment returns under a variable life insurance policy is not TRUE? B 8. Term. Receiving Social Security disability benefits for 2 years or more. 15) All of the following statements about reinsurance are true EXCEPT A) A reinsurer may also purchase reinsurance. A. Montessori training B. medical insurance C. paid annual leave D. free lunch 67. answer choices. b. Theyre businesses that will sell you a policy (or a policy to a group of people) at a premium. Added 3/11/2015 8:16:40 AM. Log in for more information. All of the following items decrease the basis of property except: A. The premiums are higher than in an individual policy because there is no medical exam. 2. The group sponsor receives a Certificate of Insurance. 3. The policy can be converted to an individual term insurance policy.

C) Generally, in an employer sponsored and paid for group, the employer (plan sponsor) owns, controls, and defines all After the 30-day elimination period has been satisfied the total benefit on this claim is $1,25 0 ( equity is found on the balance sheet. 55. What is TRUE according to the passage? The FAIR plan is a "shared market plan." revenues are found in the income statement.