Michigan Bundled Exams with complete solution

accumulation period/units - a $5,000 prem deposit in a VA in which the units are valued at $5, would purchase 1,000 accumulation units. New prem pmts change the number of accumulation units in a purchaser's account, and market fluctuations change each unit's value, so remember that both the num...

A 70-year old insured individual has suffered from kidney failure for the past 24 months. She is covered by her spouse's large-group employer plan. How will Medicare be utilized in this situation? - Will be the secondary insurer and play for claims not fully covered by the group plan A closed ne...

a partner also has an interest in the partnership, which is his share of profits and surplus. This interest is - treated as personal property assignable without dissolving the partnership attachable a plaintiff can obtain injunctive relief against tortious conduct being or about to be committed ...

A 1 inch conduit contains three wire circuits or a phase system. All conductors are number 10 TW. Each circuit consist of two phase conductors and one grounding conductor and one equipment grounding conductor. The maximum and pasty of each phase conductor is______. - Answer-24 amps A 15 or 20 amp...

A business has 90 days to replace the Contractor of Record if the contractor of record _________? A. is deceased B. is no longer employed by the business C. ceases to do business and sells their business D. all of the above - D. all of the above 339.5815 A contractor who does work in a governm...

5 Broad Categories of Exclusions - Non-accidental losses Losses controllable by the insured Extra hazardous perils Catastrophic losses Property covered, and other policies A binder specifies the premium amount - All of the following statements about binders are true, except Absolute liability...

Adhesion - contract prepared by one and accepted or rejected by the other Adverse Selection - an instance in which those in high risk situations try to buy more insurance than those w/ avg or below avg risk Agent - someone who acts on behalf of another agent - someone who acts on behalf on anoth...

__ is the level for legal intoxication for alcohol. - .08 ______ indicate that your tires need to be replaced. - Wearbars _________ type drugs slow your body down. - Depressant 30 minutes after sunset and 30 minutes before sunrise your ____ should be turned on. - lights A 1/2 second slower react...

---- shall appoint administrative and secretarial staff. - The department ---- shall have physical dominion over the files of the board. - The department -----shall not misrepresent material facts. A licensee shall include the name, license number, and actual business address, as shown on the lic...

43560 - square acre act 299 - occupational code of ethics for real estate persons actual notice - assurance that actual notice given to recipient adjusted rate mortgage - ARM- annually tied to index(CPI) adverse possession - acquire title to real estate where occupant has been actual , hostile, ...

"Barriers Free" Addition to ADA in 1991 - -any building built from 1991 onward had to be built barrier free -must make accommodations for tenants of single family residential homes at the tenants expense -landlords can require money up front, as well as monies for restorations (apartments must ...

____% of eligible employees must participate in a contributory plan. - 75% ____% of eligible employees must participate in a non-contributory plan. - 100% A ___________ is given to each covered person under a group life insurance policy. - Certificate of Insurance A baker's union and a butcher...

5 elements of negligence - 1. a DUTY to care 2. a beach of that duty 3. A cause connected to INJURY 4. proximate cause 5. DAMAGE As a PTA what do you have to do if you see that a PT or PTA is impaired? - Has to be reported by law delegation - Functions of the board of PT (5) - Dev RULES for ...

A 10% excise tax is normally applied to an early withdrawal from an IRA. According to HIPAA, this tax will not be applied if the withdrawal is used for medical expenses that exceed--- of the individual's adjusted gross income - 7.5% A beneficiary change can occur - Normally at any time during th...

_______ is the compliance route that applies Table 402.1.1 to building envelope components, and is considered the most simple. - Prescriptive Path. _________ the root system of a tree during construction can potentially kill it. - Cutting into Piling soil over Compacting __________ means an ele...

a PT cannot supervise more than ___ PTA s at a time - 4 academic course: ___ per semester ___ per quarter ___ max credits - -15 semester -10 quarter -20 max association or task force board/council etc - 4 each org max 12 must attend 50% meetings at least 1 credit in the area of ___ - pain ...

A beneficiary has just received a claim payment for a life insurance policy. Which of the following is TRUE regarding the federal income tax liability owed? A flat tax of 10% is owed on all proceeds Federal income tax is owed if proceeds exceed $250,000 No federal income tax is owed on life insu...

4 Elements of a Legal Contract - Competent Parties Legal Purpose Agreement Consideration Actuarial Department - Gather and interpret stats to determine probability of loss and sets premium rates. Adverse Selection - An imbalance created when risks that are more prone to losses than the averag...

A borrower has defaulted on the mortgage. The mortgage contains an acceleration clause. This permits the lender to do what? - demand immediate payment of the entire note A broker has brought a ready, willing, and able buyer to a seller. In MOST listing contracts, the broker has earned his commiss...

15 days - File a notice of producer appointment within __ days 3 ways to assign rates - Judgement, Manual, Experience 30 days - Time for producer to respond to notification 60 - Insured must send a signed statement of loss to the insurance company within __ Abandonment - Insured cannot abandon p...

"Maximum benefits" refers to the - upper limit of the total lifetime benefits the insurance company will pay a 10% exercise tax is normally applied to an early withdrawal from an IRA. according to HIPAA, this tax will not be applied If the withdrawal is used for medical expenses that exceed__ o...