Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

all questions pls, thank u! Questions 1, 2, 3, 4 & 6 only. Can someone help me with this? Questions to be answered: 1, 2,

all questions pls, thank u! image text in transcribed
Questions 1, 2, 3, 4 & 6 only. image text in transcribed
Can someone help me with this?
Questions to be answered: 1, 2, 3, 4, and 6 only
image text in transcribed
1 Which of the following statements about credit life insurance is correct? a. It may be provided through a group or individual policy. b. The face amount must exceed twice the amount of the debt c. The premiums must be paid by the lender d. The lender may require that it be purchased through a particular insurance company 2 An insurance company doing business in this state must operate under a. An advisory board b. A resident board of directors c. A certificate of authority d. Articles of incorporation filed with the Secretary of State 3 Which of the following situations is considered rebating? a. A producer exaggerates the financial strength of the company to an insured b. A producer returns a portion of the commission to an insured An insurer pays an independent adjuster to settle a loss in favor of the company d. An insurer pays excessive commissions to its producers 4 Which of the following statements about replacement of existing life insurance is CORRECT a. Replacement of a policy that has been in existence for more than ten years is prohibited b. Replacement of group life insurance policies requires prior approval from the Insurance Commissioner The notice regarding replacement of life insurance or annuity must be presented to an applicant no later than the date on which the policy is delivered d. Both Insurance applicant for insurance and the insurance producer must sign a statement whether existing insurance to be replaced 5 Which of the following statements is correct about insurance producers who fail to satisfy the continuing education requirements? C. a. They may be subject to a fine b. They may be subject to legal prosecution c. Their licenses will be terminated Their licenses will be suspended 6 An individual appointed by an insurance company to solicit applications for a policy of insurance on its behalf is known as: a. An adjuster b. A consultant c. An insurance broker d. An insurance producer 1 Which of the following statements about credit life insurance is correct? a. It may be provided through a group or individual policy. b. The face amount must exceed twice the amount of the debt c. The premiums must be paid by the lender d. The lender may require that it be purchased through a particular insurance company 2 An insurance company doing business in this state must operate under a. An advisory board b. A resident board of directors C A certificate of authority d. Articles of incorporation filed with the Secretary of State 3 Which of the following situations is considered rebating? A producer exaggerates the financial strength of the company to an insured b. A producer returns a portion of the commission to an insured C. An insurer pays an independent adjuster to settle a loss in favor of the company d. An insurer pays excessive commissions to its producers 4 Which of the following statements about replacement of existing life insurance is CORRECT a. Replacement of a policy that has been in existence for more than ten years is prohibited b. Replacement of group life insurance policies requires prior approval from the insurance Commissioner c. The notice regarding replacement of life insurance or annuity must be presented to an applicant no later than the date on which the policy is delivered d. Both Insurance applicant for insurance and the insurance producer must sign a statement whether existing insurance to be replaced 5 Which of the following statements is correct about insurance producers who fail to satisfy the continuing education requirements? a. They may be subject to a fine b. They may be subject to legal prosecution c. Their licenses will be terminated Their licenses will be suspended 6 An individual appointed by an insurance company to solicit applications for a policy of insurance on its behalf is known as: a. An adjuster b. A consultant An insurance broker d. An insurance producer 1 Which of the following statements about credit life insurance is correct? c. a. It may be provided through a group or individual policy. b. The face amount must exceed twice the amount of the debt The premiums must be paid by the lender d. The lender may require that it be purchased through a particular insurance company 2 An insurance company doing business in this state must operate under a. An advisory board b. A resident board of directors c. A certificate of authority d. Articles of incorporation filed with the Secretary of State 3 Which of the following situations is considered rebating? a. A producer exaggerates the financial strength of the company to an insured b. A producer returns a portion of the commission to an insured c. An insurer pays an independent adjuster to settle a loss in favor of the company d. An insurer pays excessive commissions to its producers 4 Which of the following statements about replacement of existing life insurance is CORRECT a. Replacement of a policy that has been in existence for more than ten years is prohibited b. Replacement of group life insurance policies requires prior approval from the Insurance Commissioner c. The notice regarding replacement of life insurance or annuity must be presented to an applicant no later than the date on which the policy is delivered d. Both Insurance applicant for insurance and the insurance producer must sign a statement whether existing insurance to be replaced 5 Which of the following statements is correct about insurance producers who fail to satisfy the continuing education requirements? a. They may be subject to a fine b. They may be subject to legal prosecution C. Their licenses will be terminated d. Their licenses will be suspended 6 An individual appointed by an insurance company to solicit applications for a policy of insurance on its behalf is known as: a. An adjuster b. A consultant c. An insurance broker d. An insurance producer

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Renewable Energy Finance Theory And Practice

Authors: Santosh Raikar, Seabron Adamson

1st Edition

0128164417, 9780128164419

More Books

Students also viewed these Finance questions

Question

Have a brief review of human motivation theories

Answered: 1 week ago