An individual who removes the risk of losing money in the stock market by never purchasing stocks is said to be engaging in. The terms of the policy typically outline these conditions . A.$1,656 promises made B) Law of adhesion B) Apparent Which of the following statements is true? In this situation, who will receive Bob's policy proceeds? A bilateral contract is an agreement between two parties in which each side agrees to fulfill their side of the bargain. B) Consideration Both partners are still married at the time of Bob's death. Which of the following BEST describes a conditional insurance contract? Which of the following statements is TRUE? See answers. Accelerated death benefit rider Waiver of premium rider Extended term option Decreasing term insurance. A) One party is restored to the same financial position the party was in before the loss occurred. A double indemnity benefit will be payable to Matts beneficiary is Matt, All of the following riders can increase the death benefit amount EXCEPT, All of these are valid policy dividend options for a life insurance policyowner EXCEPT, The premium for a Modified whole life policy is, Lower than the typical whole life policy during the first few years and then higher than typical for the remainder, A nonparticipating company is sometimes called a(n), Intentional withholding of material facts that would affect an insurance policys validity is called a(n), Signatures for an insurance application MUST be obtained by the producer from all of the following sources EXCEPT. B) conditional If the consumer price index had gone up 4%, how much may Ron increase the face value of the policy? Which of these is considered to be a Living Benefit option in a life insurance policy? What Benefit Does The Payor Clause On A Juvenile Life Policy Provide? If Sharon MUST obtain Mikes signature in order to change the beneficiary, what kind of beneficiary designations is this? Which of the following is a requirement to attain an Utah resident producer license? B) Implied authority express, ______ is NOT an element of a valid contract. Authority that is not specifically given to an agent in the agency contract, but that an agent can reasonably assume to carry out his/her duties What is created after policy proceeds are obtained in a lump sum and then immediately invested? B) written contract d) an agreement requires a definite offer and an indefinite acceptance. D) statements made in the application only, C) statements made in the application and the premium, According to life insurance contract law, insurable interest exists The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? Returning a portion of a premium as inducement to purchase insurance, An applicant intentionally lying to an insurance company on an application in order to obtain a cheaper premium is an example of, Authority that is not specifically given to an agent in the agency contract, but that an agent can reasonably assume to carry out. Rob recently died at age 60. Under the McCarran-Ferguson Act, what is the minimum penalty for this? A) Parties involved must be competent Use the binomial distribution to find P(x13)P(x \leq 13)P(x13) if the stain removal product's claim is correct. apparent Which of the following best describes how you analyze a fiction text? A) Parties involved in the contract What does the Group Life underwriting risk selection process help protect insurance companies from? Who assumes the investment risk with a fixed annuity contract? A. claim forms Q. Principal Capacity, All of the following are elements of an insurance policy EXCEPT Which of these factors is NOT taken into account when determining an applicants life insurance needs? A) insured conditional C) Competent parties
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