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a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - Answer they are not guaranteed When the...

An insurer must keep advertising materials and records for at least how many years? - Answer 3 The insurance coverage in a variable life insurance policy may vary based on the value of - Answer the underlying investments When is it acceptable to charge or receive a fee or service charge in...

Acturarial Departments - Answer calculated policy rates, reserves, and dividends Alien Insurer - Answer Main office is located outside the US Admitted Insurer - Answer Receives certificate of authority from state and is allowed to conduct insurance business in that state Broker - Answ...

Agent/Producer - Answer Legal representative of an insurance company (classification of producer usually includes agents and brokers, agents are the agents of the insurer) Applicant (proposed insured) - Answer Person applying for insurance Broker - Answer Insurance producer not appointed...

Accumulate - Answer Build Up Attained Age - Answer The insured's age at the time the policy is renewed or replaces Cash Value - Answer A policy's savings element or living benefit Deferred - Answer Withheld or postponed until a specified time or event in the future Endow - Answ...

Deferred - Answer Withheld or postponed until a specified time or event in the future IRS - Answer Internal Revenue Service, the U.S. government agency responsible for collecting taxes and enforcement of the Internal Revenue Code Life Contingency - Answer Dependent on whether or not the ...

Beneficiary - Answer A person who receives the benefits of an insurance policy Death Benefit - Answer The amount paid upon the death of the insured in a life insurance policy Cash Value - Answer Equity amount accumulated in permanent life insurance Estate - Answer A person's net wo...

Regulations for variable insurance contracts are set by all of the following EXCEPT Securities and Exchange Commission Department of Insurance State securities authorities State attorney general's office - Answer State attorney general's office Which of the following is associated with ...

Insurance - Answer Transfer of risk of loss From an individual or business entity to an insurance company. Which in turn spreads the costs of loss. Person - Answer Individual, business entity, association, organization, society, partnership, trust, or corporation. Risk - Answer Uncert...

-Secondary - Answer A Contingent Beneficiary has the __________ right to collect an Insured's death benefit. -A uniform set of insurance regulations - Answer What does the Producer Licensing Model Act (PLMA) provide? -A uniform set of insurance regulations -Disability income -A double ...

What will Medicare charge if someone doesn't enroll in certain Medicare programs or plans when they're first eligible? - Answer late enrollment penalty A consumer who has been recently denied insurance, credit, or employment based on an unfavorable consumer report MUST be advised as such. Whi...