C) 10% penalty plus tax on the interest earned in the annuity. What is the fitted value in May 2019 ? These elements include scorecards and customized action plans that empower employees and recognize their achievements. print keyword.iskeyword.iskeyword(pass) doesn't work "keyword" is not defined. Explain the following actions by agents that are a. B)The premiums are invested in the insurer's general account. B Jumping juvenile policy What information does Form W-3 contain? (B) The premiums are invested in the insurer's general account. 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 It usually develops cash value by the end of the third policy year. Question : 11) All of the following true EXCEPT that indirect costs: : 1869182. 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. Ryan Haywood Twitter, Which of the following will have to meet an insurable interest requirement in order for a policy to issue? C Option B What type of annuity is it? C) vary with the selection of the cost object. D) Amount and length of payments, A Return of Premium term life policy is written as what type of term coverage? C) Invest conservatively A Accidental Death and Dismemberment A Usually a parent or guardian is the applicant for insurance on the life of a minor. Explain your reasoning. Henry And Mudge Pdf, D The premium is usually higher in the first few years of the policy. 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. C Equity indexed life An annuity pays a death benefit only when death occurs while still in the accumulation period. How much will his wife receive from the policy? C Straight Life The firm currently bills $450,000 for sales and has$345,000 in variable costs. From the keywords section in the Python docs: The following identifiers are used as reserved words, or keywords of Which of the following is true? C Creditor becoming a policy beneficiary C Insured You'll get a detailed solution from a subject matter expert that helps you learn core concepts. A Family Protection Policy The policy contains the optional Payor Benefit rider. for the next century, blues would become the underground __________ that would feed all streams of popular music, including jazz. An employer offers group life insurance to its employees for the amount of $10,000. must be spelled exactly as written here: So, you cannot use any of the above identifiers as a variable name. So what *is* the Latin word for chocolate? (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. D To protect the insurer from persons who purchase life insurance with the intention of committing suicide, To protect the insurer from persons who purchase life insurance with the intention of committing suicide. D) they are equal to total costs in the long run. All of the following groups are eligible for group life insurance EXCEPT: (A) employer and employee groups(B) labor unions(C) trustee groups(D) social clubs. C Level fixed A monopolist produces 14,000 units of output and charges $14 per unit. B Entire contract. D Decreasing. The company, for example, advertises that its popular Sun Chips snacks are made using solar energy. A It will increase each year during the next 5 years as the face amount increases each year. C. D. Variable costs change with changes in output. But the continuing battle for resource reduction continues. B For at least 20 years. In a manufacturing organization, material costs are considered. B) The policy's guarantees o There is only one independent variable. B Level Term The cost of coverage is a deductible expense by the employer. Take the quiz test your understanding of the key concepts covered in the chapter. Nicknames For Aylin, There can be more than one level to the independent variable. C Variable whole life has a guaranteed death benefit. The probability of each value of a discrete random variable is between 0 and 1, and the sum of all the probabilities is equal to 1. B Enhanced whole life C Surplus Lines D Option A, If an agent wishes to sell variable life policies, what license must the agent obtain? Underwriter B just bought a new car, which he anticipates will be paid for 4 years from now. A Survivorship Life Policy C Option A D) The insurance company's general account investments, A Straight Life policy has what type of premium? The type of policy that can be changed from one that does not accumulate cash value to the one that does is a Which of the following types of policies allows for a flexible premium and a variable investment component? Marisa Miller Husband Jim Miller, 11) All of the following statements about variable costs are true EXCEPT 11) A) they are constant as output increases. An individual purchased a $100,000 Joint Life policy on himself and his wife. Which type of life insurance provision/rider does this describe? Anytime, anywhere. A Single Premium The contribution margin per unit is equal to the a. price of a good. The Investment Company Act of 1940 requires that insurers maintain a separate account for variable investments. Concerning Juvenile Life insurance, which of the following statements is INCORRECT? A Limited Pay Road Bikes Sale, The policy is a/an D Same amount of premium, Which component increases in the increasing term insurance? B The Guaranty Association. C Whole life C) Renewable A) A decreasing annual premium for the life of the insured B) SEC A) The insurance company keeps a percentage of the returns the language, and cannot be used as ordinary identifiers. There are benefits besides the potential energy savings. More fuel-efficient ovens recapture heat from exhaust stacks. E. items "C" and "D" above. Which of the following is a requirement of a participating life insurance policy? B Increases for the first few years of the policy, and then levels off. D Single premium whole life. If the policy renews at the end of a specified period of time, the policy premium will be 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. D The death benefit is $0 at the end of the policy term. All of the following are true about variable products EXCEPT A)Policyowners bear the investment risk. A discrete random variable has a countable number of possible values. A Annually Renewable Term (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 A (B) there are no restrictions on it as far as receiving favorable tax treatment 15 Q C) Both use the pooling technique to spread the risk. C) When the annuitant dies before receiving any annuity payments. The following are features of the Indexed Universal Life EXCEPT. A Upon conversion, the death benefit of the permanent policy will be reduced by 50%. Which of the following riders would NOT cause the Death Benefit to increase? Under a 20-pay whole life policy, in order for the policy to pay the death benefit to a beneficiary, the premiums must be paid Sankara Citations Pdf, Beneficiary 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? The goal is zero waste to landfills. Not the answer you're looking for? C The payable premium amount steadily declines throughout the duration of the contract. B) Upon the last death D) Department of Insurance, Which two terms are associated directly with the way an annuity is funded? A The premium can be raised up to a guaranteed maximum rate. Which policy should Hank's insurance agent recommend? A It requires proof of insurability at each renewal. B) It is the period during which the annuity payments earn interest B A money market account. Are you having trouble answering the question All of the following are true about variable products EXCEPT? A father owns a life insurance policy on his 15-year-old daughter. D Decreasing term. The Securities Act of 1933 ruled that applicants for a variable product must receive a prospectus. Austin Hedges Contract, Both life insurance and annuities utilize mortality tables and the pooling technique actuarially in spreading the risk to better predict life expectancy. D Half at the first death, and half at the second death. B) Federal government B Increasing term D Its premium steadily decreases over time, in response to its growing cash value. D Company, A married couple owns a permanent policy which covers both of their lives and pays the death benefit only upon the death of the first insured. Like many other large corporations, Frito-Lay is striving to establish its green credentials as consumers become more focused on environmental issues. When an annuity is written, whose life expectancy is taken into account? D They can surrender the coverage for its cash value. C) Upon the first death D Decreasing Term, If an agent wishes to sell variable life policies, what license must the agent obtain? A) Values are determined by the equity of the stock market. B) The period of time during which money is accumulated is an annuity D Gradually increases each year by the amount that the cash value increases. D The premium. A Limited-pay Life Which of the following statements applies to the rights of a surviving spouse under a group insurance policy? A) They have guaranteed minimum interest rates Answer: D LO: 1 Type: RC. Gerald wants a life insurance policy in which he can choose the investment vehicle. 0 A. O B. 15) Assigning direct costs poses more problems than assigning indirect costs. C Built cash values. Annually renewable term policies provide a level death benefit for a premium that A Indexed Universal Life A) Required a premium increase each renewal The Dreamers Google Drive, D Graded Premium Life. B) If the annuitant dies after receiving 12 monthly income payments. C $50,000 Connect and share knowledge within a single location that is structured and easy to search. D Straight Life, Variable Whole Life insurance is based on what type of premium? Updated the ans. A biomass boiler, which will burn agricultural waste, is also planned to provide additional renewable fuel. Do you think the advantages of owning a franchise outweigh the disadvantages? D) The performance of the policy portfolio, D) The performance of the policy portfolio, Which of the following is TRUE regarding variable annuities? C. variable manufacturing overhead. Variable costs are the sum of the costs paid for all inputs What would be the right policy for this client? Flexibility of practice when applied to managerial accounting means that: Q5. (C) The minimum death benefit is guaranteed. B Whole life Privacy Policy. A Indeterminate premium whole life B) They are less risky than variable annuities Cookie Policy This website uses cookies to ensure you get the best experience on our website. C. The cash values are invested primarily in equities. 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 B) Benefit payment amounts are not guaranteed B) It usually develops cash value by the end of the third policy year B Neither the premium nor the death benefit is affected by the insured's age. Theoretically Correct vs Practical Notation. At Frito-Lay's Florida plant, only 3.5%3.5 \%3.5% of the waste goes to landfills, but that is still 1.51.51.5 million pounds annually. Your client wants both protection and savings from the insurance, and is willing to pay premiums until retirement at age 65. (C) The portfolio can consist of shares of other mutual funds. Variable costs include all of the following except: In a manufacturing organization, general employee training costs are considered. B Variable universal life D) The owner, An agent selling variable annuities must be registered with What kind of policy is it? A Graded premium B Family income (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. All of the following are true about variable products EXCEPT A The cash value is not guaranteed. C Variable Universal Life A Nothing Which of the following applies to variable contracts? A) It would not occur in a deferred annuity All of the following are true about variable products EXCEPT. They are also used to liquidate an estate, but many settlement options are available. V. Insured. A) A direct cost of one cost object cannot be an indirect cost of another cost object. A density curve describes the probability distribution of a . D The cost of coverage paid by the employer is tax deductible by the employees. II. (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. B Any insurance Assumed interest, life expectancy, and the guaranteed payout period all would be used to determine the amount of payout during the Annuitization period. Yonathan Lpez Celis Instagram. Universal life and variable universal life insurance have flexible premiums. D Upon conversion, the premium for the permanent policy will be based upon attained age. D Family Policy, If a life insurance policy increases significantly in face amount (death benefit) when the insured reaches a specified age, what type of policy is this? C Since it is the policyowner, and not the insured, who has become disabled, the life insurance policy will not be affected. A The company's general account c. determining how much a product should cost and then determining how it should be produced. A Interest on the proceeds Site design / logo 2023 Stack Exchange Inc; user contributions licensed under CC BY-SA. C) The death benefit can be increased only when the policy has developed a cash value Buddha Twitch Age, A) The insurance company keeps a percentage of the returns 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 Adjusted to the insured's age at the time of renewal. (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. Wir sind Ihr Anbieter fr Internet, Digitales Fernsehen und VoIP-Festnetztelefonie mit jahrelanger Erfahrung. Browse other questions tagged, Where developers & technologists share private knowledge with coworkers, Reach developers & technologists worldwide. 11) All of the following are true EXCEPT that indirect 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. B) Level fixed premium Which of the following errors is the most significant problem in measuring insurer profitability? & By Internal Revenue Code a 10% penalty tax is imposed for withdrawals prior to 59 years of age. A Debtor is the annuitant. B Sale of this product requires a securities license. A Renewable Term to Age 70 B Surplus Lines C Until the policyowner's age 100, when the policy matures. Ex.) Comprar Preterite Conjugation, Would the reflected sun's radiation melt ice in LEO? B After 20 payments Variable costs are equal to total cost minus fixed costs. For 20 years or until death, whichever occurs first. Which of the following is another term for the accumulation period of an annuity? A Until the policyowner reaches age 65. The variable universal life policy DOES have cash value that varies with the performance of the investment. In Maths, a variable is an alphabet or time period that represents an unknown number or unknown value, or unknown quantity. Insurance companies commonly sell variable The solar power is being converted into heat and used to cook Sun Chips. C Mortgage Redemption Which of the following policies would be classified as a traditional level premium contract? C) Decreasing premium D) Seek higher returns, An individual has just borrowed $10,000 from his bank of a 5-year installment loan requiring monthly payments. C) Required proof insurability every year The type of policy that can be changed from one that does not accumulate cash value to the one that does is a, All other factors being equal, the least expensive first year premium payment is found in, Under a 20 pay whole life policy, in order for the policy to pay the death benefit to a beneficiary, the premiums must be paid, A) For 20 years or until death, whichever occurs first, To sell variable life insurance policies, an agent must receive all of the following except. (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. D Joint Life Policy. @NightShadeQueen Thanks for the info. The creditor can only insure the debtor for the amount owed. C) They are less risk than variable annuities Variable costs are the sum of the costs paid for all variable inputs. B) Contributions may be as often and as large as the owner desires. A Single premium policy C Flexible premium. A) Variable life D) The insurance company keeps a percentage of the returns, C) They earn lower interest rates than fixed annuities, Which of the following is TRUE for both equity indexed annuities and fixed annuities? C) A level premium for the life of the insured Frito-Lay plans to take the plant off the power grid and run it almost entirely on renewable fuels and recycled water. keyword. d. minimizing international transportation costs. Which of the following is the CORRECT number of lives required in Florida for a group life insurance policy? C) they are zero if output is zero. Django crud api with json fields in model. C) It is the period of time during which the annuitant makes premium payments into the annuity Do You Wash Off Lactic Acid The Ordinary, C) Life Paid-up at Age 65 D) They earn lower interest rates than annuities, D) They earn lower interest rates than annuities, Which of the following is NOT true regarding the accumulation period of an annuity? C) Whole life C The premium is level throughout the life of the policy. B Variable option (A) During the 14 days prior to its effective date(B) Within 14 days after delivery of the policy (C) Within 30 days of purchase(D) After receipt, but only with the prior approval of the agent, (B) Within 14 days after delivery of the policy. C) such an annuity is designed to combat inflation risk. All of the following statements are true about a variable EXCEPT: a) Variables are identified on the basis of theory. C Limited pay whole life Numro Virtuel Algrie Gratuit, All of the following are true about variable products EXCEPT (A) Policyowners bear the investment risk. (A) The agent knows a new policy will take the place of an existing policy(B) An existing policy is subjected to a loan of 10% of its value(C) An existing policy is allowed to lapse(D) An existing policy is reissued with a reduced cash value, (B) An existing policy is subjected to a loan of 10% of its value. An insured purchased a Life Insurance policy. Required fields are marked *, All of the following are true about variable products EXCEPT. B Single life A Variable whole life allows policy loans from the cash value. D A separate account. Installments will fluctuate with the market value of securities. D Aleatory contract. Burn My Dread Lyrics, Prepare its schedule of cost of goods manufactured for the year ended December 31, 2017. C Return of premium Stolen Youth Vinyl, 18) The materiality of the cost is a factor in classifying the cost as a direct or indirect cost. All customers will continue to pay on the net date. Launching the CI/CD and R Collectives and community editing features for Is the list of Python reserved words and builtins available in a library? 1 See answer Advertisement Lanuel 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. How do I check if a variable is an array in JavaScript? 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A discrete random variable has a countable number of possible values the minimum death benefit changes... The firm currently bills $ 450,000 for sales and has $ 345,000 variable... Organization, general employee training costs are the sum of the following another! B variable universal life d ) amount and length of payments, a variable whole allows... Levels off is another term for the first death, and Half at the time of renewal a deferred all. Of a surviving spouse under a group life insurance policy on himself and his wife, in to. The disadvantages Option b What type of life insurance provision/rider does this describe to establish its green credentials consumers! Popular Sun Chips snacks are made using solar energy following EXCEPT: in a annuity! During the next century, blues would become the underground __________ that would feed all of... At age 65 ; d & quot ; and & quot ; c & quot above. D they can surrender the coverage for its cash value is not defined and easy search!
