6 Nicholas is a life insurance agent who is meeting with a new client, Selena. After discussing her insurance needs, Nicholas provides her advice on financial planning claiming to be a financial planner though he does not have the appropriate training and designation. He also gives her his business card with the term "financlal planner" to mislead her, In this case, Nicholas is: a engaging in churning. b engaging in fronting. 4. inducing to insure. d. holding out inproperty 5. Milo purchased an immediate annuity contract last month and he recelved his first payment five days ago. He is facing financial difficulty, so he contacts his agent to surrender his contract and receive a refund as a lump-sum. Which of the following responses is the agent most likely to provide? del4didISEJ5QXFYNKWWZWXIK1IzOTO9 2. As it is an immediate annuity contract and payments have begun, Milo will not be permitted to surrender the contract. b. Mio can receive a refund it he submits an application to surrender within 30 days of rechiving his first payment. c. As the annuity contract has been in effect for less than three monthe, Nio can surrender the contract anytime and get a refund within 15 dayz: d. Milo will have to walt unth the contracts anniversary date to be able to surrender the policy and get a refund. 14 Collin applies for a life insurance policy. In the application form, he mentions his birth year as 1987 by mistake, when his actual year of birth is 1978. The insurer becomes aware of this mistake a few days after the final contract is delivered to Collin. What outcome can be expected with regard to Collin's insurance contract as a result of his misstatement of age? a. The insurer will amend the contract and increase the promiums according to Collin's true age. b. The insurer wilf cancol Colin's contract and he will have to apply for a new policy with accurate information c. The insurer cannot make amendments to the contract because it is ayeady In force. d. The insure cannot increase the premiums as it is not froudulent misrepresentation or concealment