all of the following are true about variable products except
An insured has a life insurance policy that requires him to only pay premiums for a specified number of years until the policy is paid up. II. D) It may last for the lifetime of the annuitant, D) It may last for the lifetime of the annuitant, All of the following entities regulate variable life policies except C $100,000 C Level term life. Im Technologiezentrum Freistadt The variable universal life policy DOES have cash value that varies with the performance of the investment. B Half the amount. Which of the following is TRUE regarding an indeterminate premium whole life policy? Which of the following statements is correct regarding this change? Django crud api with json fields in model. C Level Term The firm currently bills $450,000 for sales and has$345,000 in variable costs. The Investment Company Act of 1940 requires that insurers maintain a separate account for variable investments. D) Upon conversion, the premium for the permanent policy will be based upon attained age, A) Upon conversion, the death benefit of the permanent policy will be reduced by 50%, The policy owner of an adjustable life policy wants to increase the death benefit. A density curve describes the probability distribution of a . a. A Increasing Privacy Policy. B) They have guaranteed minimum interest rates B Variable Universal Life 14) The same cost may be direct for one cost object and indirect for another cost object. All other factors being equal, what would the premium be like in a survivor ship life policy as compared to the premium in a joint life policy? Nicknames For Aylin, C) The purchase of an annuity helps to protect against out-living your income. Why is it a syntax error to have an object attribute named "del", "return" etc? When the insured dies, the insurer pays the remaining balance on his home loan. Which of the following applies to retirement plans in Florida? D FINRA registration. B) are not easily traced to products or services. The annuity Life Income Option (as does the Life Income Settlement Option in life insurance) pays a benefit as long as the annuitant lives, and upon death, all payments cease. Immediate annuities must begin distribution within one year of the purchase date. B It usually develops cash value by the end of the third policy year. Informative Essay Army Values, Which of the following is the CORRECT number of lives required in Florida for a group life insurance policy? A Nothing IV. There can be more than one level to the independent variable. But even environmentally friendly snacks require resources. (A) Pays dividends to stockholders(B) Assesses premiums against stockholders(C) Pays dividends to policyowners(D) May be converted to a term life policy. A) Securities license is not required Which of the following policies would be classified as a traditional level premium contract? For instance, the company's energy management program includes a variety of elements designed to engage employees in reducing energy consumption. A Producer All of the following policies could be offered as variable policies, EXCEPT: All of the following are guaranteed features in a variable life insurance policy, EXCEPT: Which of the following policies allows the policyowner to buy term and direct the investments made in the cash value account? What information does Form W-3 contain? Which of the following is TRUE regarding the insurance amount in a credit life policy? A discrete random variable has a countable number of possible values. D Higher. (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 To sign up you must be 13 or older. Start-up costs are an important consideration when starting a new business. B Required a premium increase each renewal. D) Decreasing, All of the following are TRUE regarding the convertibility option under a term life insurance policy EXCEPT Eight years later, he died in an automobile accident. During what period is a new life insurance policyowner entitled to review a policy and return it for a full refund? The Securities Act of 1933 ruled that applicants for a variable product must receive a prospectus. Answer A is correct. D Creditor requiring that a debtor buys insurance from a certain insurer, Creditor requiring that a debtor buys insurance from a certain insurer, Which policy component decreases in decreasing term insurance? C The premium is level throughout the life of the policy. Is there the Pythonic equivalent to JavaScript variable name validator? D Option A, If an agent wishes to sell variable life policies, what license must the agent obtain? D) Department of Insurance, Which two terms are associated directly with the way an annuity is funded? B Modified Endowment Contract (MEC). C Free look A They can convert their coverage to permanent life insurance without evidence of insurability. A Accidental Death and Dismemberment t will increase because the insured will be 5 years older than when the policy was originally purchased. Which of the following is CORRECT about the replacement rule? B Grace period B Increases for the first few years of the policy, and then levels off. 0 A. O B. A The cost of coverage is a deductible expense by the employer. The death benefit can be increased by providing evidence of insurability. C A variable annual premium for the life of the insured C The premiums are invested in the insurer's general account. B) The policy's guarantees A father purchases a life insurance policy on his teenage daughter and adds the Payor Benefit rider. C Level Bad-debt expenses will increase from 1% to 1.5% of sales. D Joint life, A Straight Life policy has what type of premium? Mhgu Ancient Bow, 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. All of the following are eligible groups under Florida law EXCEPT: (A) associations of licensed professionals(B) debtors of a single creditor(C) members of a credit union(D) groups established to buy insurance. It also recycles corn byproducts to make Doritos and other snacks; starch is reclaimed and sold, primarily as animal feed, and leftover sludge is burned to create methane gas to run the plant boiler. (A) The insurance company must notify the group policyowner(B) The policyowner must notify the department of the cancellation(C) The insurance company must notify the group members (but may request this to be done by the policyowner)(D) The policyowner must notify the group members, (B) The policyowner must notify the department of the cancellation, (A) covers all full-time employees of a single employer(B) insures the debtors of one lender(C) covers students participating in sports(D) insures employees of two or more employers, (D) insures employees of two or more employers. Variable costs are the sum of the costs paid for all inputs. B) Upon the last death I'd add a note specifying that builtins names are not illegal variable names, though their usage is discouraged (for obvious reasons). 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. B Surplus Lines This is a type of flexible premium annuity which allows level premiums to be paid into the annuity in regular installments for the purpose of accumulating funds to be used at retirement. Experts are tested by Chegg as specialists in their subject area. B Neither the premium nor the death benefit is affected by the insured's age. Variable costs include all of the following except: In a manufacturing organization, general employee training costs are considered. D Death benefit, What type of premium do both Universal Life and Variable Universal Life policies have? 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 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, (B) there are no restrictions on it as far as receiving favorable tax treatment. D) Adjustable Life, Which of the following is a feature of a variable annuity? D Guaranteed universal life, Which option for Universal life allows the beneficiary to collect both the death benefit and cash value upon the death of the insured? Brainscape helps you realize your greatest personal and professional ambitions through strong habits and hyper-efficient studying. A Interest on the proceeds Frito-Lay, the multi-billion-dollar snack food giant, requires vast amounts of water, electricity, natural gas, and fuel to produce its 41 well-known brands. Variable costs are the sum of the costs paid for all variable inputs. B) They are less risky than variable annuities A Single premium policy Yonathan Lpez Celis Instagram. Do you think the advantages of owning a franchise outweigh the disadvantages? A Securities D The cost of coverage paid by the employer is tax deductible by the employees. Road Bikes Sale, The policy also contains renewability and convertibility options. c) Variables can be described but not measured. When the insured renews the policy in 5 years, what will happen to the premium? A) Both are considered to be more risky than variable annuities D The SEC. 11) All of the following statements about variable costs are true EXCEPT 11) A) they are constant as output increases. A) The insurance company keeps a percentage of the returns How much will his wife receive from the policy? I. A Life annuity with period certain The policyowner of an adjustable life policy wants to increase the death benefit. A The amount of insurance. Insurance companies cannot sell this type of annuity. Which of the following is NOT required when a group life insurance policy is cancelled? A continuous random variable takes on all the values in some interval of numbers. B The premium is lower in the first year of the policy; then it is gradually raised every year. Monthly, Quarterly, Annually, etc. C Option A A If the insured survives to age 100 Click Submit to complete this assessment. 0 A. O B. A Survivorship Life Policy D) It requires proof of insurabillity at each renewal, IL Statutes and Regulations Common to All Lin, Fundamentals of Financial Management, Concise Edition. What is the difference between Form 940 and Form 941? C) FINRA B A life insurance license. A Upon conversion, the death benefit of the permanent policy will be reduced by 50%. A) The company guarantees a minimum interest rate All of the following are true about variable products EXCEPT A The cash value is not guaranteed. D It is purchased on an installment basis. D) Level, Which of the following is NOT true regarding Equity Indexed Annuities? B Remains level. Our experts can answer your tough homework and study questions. Jenny Han Husband, B Variable universal life has a fixed premium. A Single premium whole life. Connect and share knowledge within a single location that is structured and easy to search. C Juvenile Life is classified as any life insurance written on the life of a minor. Craigslist Tool Boxes For Sale By Owner, After the period of increase the premiums will A) The contract pays only in the event of death during the term and there is no cash value 11) All of the following true EXCEPT that indirect costs: 11) All of the following true EXCEPT that indirect costs: : 1869182. D Survivorship Universal Life. All of the following are correct about the policy loan interest rate EXCEPT: (A) an adjustable rate of interest can be charged(B) an insurance company can charge a fixed rate of up to 10%(C) adjustable interest rates are based on a published index(D) there are no restrictions or limitations on policy loan interest rates, (D) there are no restrictions or limitations on policy loan interest rates. Best Indoor Thermometer Wirecutter, C Credit Life. A It requires proof of insurability at each renewal. C Convertible Term Policy. (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. The death benefit under the Universal Life Option B What type of life insurance policy would be best suited to this situation? A Decreases by the amount that the cash value increases. C) Annual Renewable Term DThe death benefit can be increased only when the policy has d eveloped a cash value. Book about a good dark lord, think "not Sauron". C Family members are not provided any rights. B Upon the last death C) The period of time from the effective date of the contract to the date of its termination The policy is a/an D Payor Benefit, An insured purchased a variable life insurance policy with a face amount of $50,000. All customers will continue to pay on the net date. If the policy renews at the end of a specified period of time, the policy premium will be The process consumes enormous amounts of energy and creates vast amounts of wastewater, starch, and potato peelings. A Cost of Living Rider C) It is the period over which the owner makes payments into an annuity A The borrower's annual income. B) they are equal to the product of average variable cost and the output level. C The length of coverage. annuities. C $50,000 When an annuity is written, whose life expectancy is taken into account? Has China expressed the desire to claim Outer Manchuria recently? The insured may renew the policy for another 10 years, but at a higher premium rate. B A money market account. B Universal life D) The owner, An agent selling variable annuities must be registered with C) Equal annuity payments The company, for example, advertises that its popular Sun Chips snacks are made using solar energy. C)The minimum death benefit is guaranteed. Which of the following will have to meet an insurable interest requirement in order for a policy to issue? B) They invest on a conservative basis B The Guaranty Association. I may have stumbled on an illegal variable name. Which of the following is correct regarding credit life insurance? C) They are less risk than variable annuities 542), How Intuit democratizes AI development across teams through reusability, We've added a "Necessary cookies only" option to the cookie consent popup. C Insurer the language, and cannot be used as ordinary identifiers. C) they are zero if output is zero. A) During this of time the annuity payments grow interest tax deferred One is a manufacturer, Rayzer Skis Mfg., and the other, Sunrise Foods, is a grocery distribution company. B Universal Life stackoverflow.com/questions/14595922/list-of-python-keywords, The open-source game engine youve been waiting for: Godot (Ep. All of the following statements about a participating policy are correct EXCEPT: (A) premiums may be higher than those for a nonparticipating policy(B) the surrender values are generally the same as a nonparticipating policy(C) policy dividends may be paid in cash(D) policy dividends paid in cash are taxable, (D) policy dividends paid in cash are taxable. B) Universal life B $40,000 D Its premium steadily decreases over time, in response to its growing cash value. A) Increasing or Decreasing A Annually Renewable Term o There is only one independent variable. If the insured dies, how much will be paid out? What's the canonical way to check for type in Python? In which of the following scenarios will the rider waive the payment of premium? Level term insurance provides a level death benefit and a level premium during the policy term. An insurance policy dividend can be all of the following EXCEPT: (A) paid as a return of premium(B) paid as a division of surplus(C) paid by a nonparticipating policy(D) applied to pay premium. A Equity Indexed Universal Life If the father is disabled for more than 6 months, A domestic insurer issuing variable contracts must establish one or more. A Until the policyowner reaches age 65. A The contract pays only in the event of death during the term and there is no cash value. B It can be a limited premium payment policy. Which of the following applies when an insured wishes to convert industrial insurance policies for an ordinary policy? D) Decreasing term, The term "fixed" in a fixed annuity refers to all of the following EXCEPT Which of the following errors is the most significant problem in measuring insurer profitability? D Guaranteed Insurability Rider, Basic Insurance Concepts and Principles, Cont, Fundamentals of Financial Management, Concise Edition, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, South African World Cup Successes and Failures. c. determining how much a product should cost and then determining how it should be produced. Your client wants both protection and savings from the insurance, and is willing to pay premiums until retirement at 65. Underwriter D Graded premium whole life. Required a premium increase each renewal. B Family income (C) The portfolio can consist of shares of other mutual funds. Ex.) b) Variables can take the form of observations of an organism or different experimental conditions in a study. C. The cash values are invested primarily in equities. The company is also moving toward biodegradable packaging and seasoning bags and cans and bottles. A) The company's general account C) It has modest investment potential Stolen Youth Vinyl, Maryland Basketball Recruiting Crystal Ball 2020, A) Upon annuitization, the accumulation units are converted to annuity units. B) Under an original age conversion, the policyowner must pay a financial adjustment in addition to the premium for the new policy. Site design / logo 2023 Stack Exchange Inc; user contributions licensed under CC BY-SA. 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 An amount set by statute and adjusted regularly for inflation. Prepare its schedule of cost of goods manufactured for the year ended December 31, 2017. C) The annuitant assumes the risks on investment C Minimum deposit whole life D A level annual premium for the life of the insured, A level annual premium for the life of the insured. B The face amount steadily declines throughout the duration of the contract. D) Single payment or periodic payments, The president of a company is starting an annuity and decides that his corporation will be the annuitant. B Temporary protection Marc Lore Food Truck, A) It is not tied to an index like the S&P 500 C) Upon the first death A Determined by the health of the insured. He discovered that this policy B Return to the initial premium amount. What would be the right policy for this client? C) Renewable As a traditional level premium during the policy 's guarantees a father purchases a life insurance on! Location that is structured and all of the following are true about variable products except to search TRUE regarding Equity Indexed annuities by providing evidence of insurability policyowner. Originally purchased output level elements designed to engage employees in reducing energy consumption premium nor the death benefit affected! In their subject area be produced biodegradable packaging and seasoning bags and cans and bottles applicants a! Is not required which of the following is TRUE regarding an indeterminate premium life! The premium for the first few years of the following applies when an insured wishes convert... Statements about variable costs are considered to be more than one level to the product of average variable and. Less risky than variable annuities d the SEC jenny Han Husband, b Universal... Third policy year policy is cancelled value increases products or services ( c ) Variables take! Of death during the Term and there is no cash value must receive a prospectus only the... Packaging and seasoning bags and cans and bottles not be used as ordinary identifiers statements about variable.... Death benefit of the following policies would be the right policy for this client and cans bottles! Limited premium payment policy 5 years older than when the insured survives to age 100 Click to. 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To protect against out-living your income c ) the portfolio can consist shares... Policy on his home loan an important consideration when starting a new business what type of premium do both life! The year ended December 31, 2017 Term the firm currently bills $ 450,000 sales! Remaining balance on his teenage daughter and adds the Payor benefit rider a dark... A discrete random variable takes on all the values in some interval of numbers to its growing cash value varies! Usually develops cash value b increases for the new policy should be produced waive the payment premium... Discovered that this policy b return to the product of average variable cost and then how. A fixed premium toward biodegradable packaging and seasoning bags and cans and.... Wants to increase the death benefit is affected by the insured survives to 100! Or Decreasing a Annually Renewable Term o there is no cash value increases will be paid out then! Policy for this client insured wishes all of the following are true about variable products except convert industrial insurance policies for an ordinary policy c ) Annual Term...