Life, Accident and Health BUNDLED Exams questions and correct answers

Your license will be considered to be inactive when you: - correct answer No longer have any appointments On a "participating" health insurance policy issued by a mutual insurance company, dividends paid to policy holders are: - correct answer Not taxable since the IRS treats them as a refund...

Group Insurance - correct answer - the employer is the owner and receives the master contract - the employees are certificate holders which outlines the details of it - underwriting is much more liberal because its a large group and probably wont have adverse selection - if you want ...

Accident and Health Insurance - correct answer - a contract where the insurer, in exchange for the premium submitted, indemnifies the insured for the medical expenses caused by illness or injury and/or the loss of earnings due to disabilities as long as the expense or disabling occurrence happened ...

Regarding an organizational license, what happens when a corporation is dissolved? - correct answer The license is terminated john applies for a variable annuity and does not request that the premiums be immediately invested in a stock or bond portfolio. After the annuity is issued, John returns...

What are the four elements of an insurance contract - correct answer Agreement - offer and acceptance, consideration, competent parties, and legal purpose What does representation mean and how does it differ from a warranty - correct answer Representation are statements believed to be true to t...

Annuity - correct answer -A contract between a person and an insurance company that requires the insurer to make payments to you. -You buy an annuity by making either a single payment or a series of payments -Annuity Death benefits are NOT tax deductible or taxfree Dividends - correct answer ...

Which of the following is a true statement about dependent coverage on group health policies? Select one: a. The dependent can be a natural child, step child or adopted child. b. A child can be considered dependent after age 19 if he/she was disabled before that time. c. A child can be considere...