MN LIFE AND HEALTH INSURANCE EXAM 2 Exam (elaborations) MN LIFE INSURANCE EXAM 3 Exam (elaborations) MN LIFE PRODUCER EXAM QUESTIONS AND ANSWERS 4 Exam (elaborations) MN LIFE LICENSE 1 QUESTIONS AND ANSWER 5 Exam (elaborations) MN STATE INSURANCE EXAM 6 OTHER MN LIFE ACCIDENT & HEALTH PRODUCER...
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The commissioner examines each insurer every ___ Years. - Answer - 5 years $____ fine per day if a person violates, aids, or abets a written cease and desist order - Answer - $10,000 License fee may request a hearing within ____ days of commissioners order. After hearing request, Commissione...
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Add to cartThe commissioner examines each insurer every ___ Years. - Answer - 5 years $____ fine per day if a person violates, aids, or abets a written cease and desist order - Answer - $10,000 License fee may request a hearing within ____ days of commissioners order. After hearing request, Commissione...
In what type of policy does the owner pay the same premium throughout the term of the contract? - Answer - Level premium policy Which type of beneficiary CANNOT be changed without consent? - Answer - The beneficiary is irrevocable How many totals hours of continuing education covering the su...
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Add to cartIn what type of policy does the owner pay the same premium throughout the term of the contract? - Answer - Level premium policy Which type of beneficiary CANNOT be changed without consent? - Answer - The beneficiary is irrevocable How many totals hours of continuing education covering the su...
Accelerated Benefits Rider - Answer - -pays 50-80% of death benefit -insured retains policy ownership & can designate beneficiary -beneficiary gets remainder at insured's death Viatical Settlement - Answer - -viatical settlement provider buys policy from insured for 50-80% of death benefit ...
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Add to cartAccelerated Benefits Rider - Answer - -pays 50-80% of death benefit -insured retains policy ownership & can designate beneficiary -beneficiary gets remainder at insured's death Viatical Settlement - Answer - -viatical settlement provider buys policy from insured for 50-80% of death benefit ...
In what type of policy does the owner pay the same premium throughout the term of the contract? a. Deferred premium policy b. Single premium policy c. Level premium policy d. Flexible premium policy - Answer - c. Level premium policy Which type of beneficiary CANNOT be changed without cons...
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Add to cartIn what type of policy does the owner pay the same premium throughout the term of the contract? a. Deferred premium policy b. Single premium policy c. Level premium policy d. Flexible premium policy - Answer - c. Level premium policy Which type of beneficiary CANNOT be changed without cons...
How are employee FICA taxes collected? - Answer - The employer withholds the employee's tax and pays it along with the employer's portion Mateo applies for an insurance policy that will have an annual premium payment of $1,000 ($510 semi-annually, $260 quarterly, and $100 monthly) if issued. W...
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Add to cartHow are employee FICA taxes collected? - Answer - The employer withholds the employee's tax and pays it along with the employer's portion Mateo applies for an insurance policy that will have an annual premium payment of $1,000 ($510 semi-annually, $260 quarterly, and $100 monthly) if issued. W...
Speculative Risk - Answer - involves the chance of loss or gain, and is not insurable Pure Risk - Answer - involves the chance of loss only, and is insurable Peril - Answer - Something that causes a direct loss Physical Hazard - Answer - Visible (Black ice) Moral Hazard - Answer - d...
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Add to cartSpeculative Risk - Answer - involves the chance of loss or gain, and is not insurable Pure Risk - Answer - involves the chance of loss only, and is insurable Peril - Answer - Something that causes a direct loss Physical Hazard - Answer - Visible (Black ice) Moral Hazard - Answer - d...
Department of Commerce - Answer - The regulatory authority who oversees the insurance industry Commissioner of Commerce - Answer - Responsible for executing the state's insurance laws and regulating all insurance companies and their agents doing business in MN Commissioner of Commerce - Ans...
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Add to cartDepartment of Commerce - Answer - The regulatory authority who oversees the insurance industry Commissioner of Commerce - Answer - Responsible for executing the state's insurance laws and regulating all insurance companies and their agents doing business in MN Commissioner of Commerce - Ans...
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