Entire contract clause Study guides, Class notes & Summaries

Florida 2-15 Insurance License Exam-Actual Exam Questions and Answers, 100% Verified-Updated 2023/2024 Florida 2-15 Insurance License Exam-Actual Exam Questions and Answers, 100% Verified-Updated 2023/2024 Accumulation units are converted into annuity units: at the time of annuity payout. A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan. noncontributory If a disabled worker covered under Social Security disability benefits ...

Life Insurance Exam Questions with correct Answers J has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? . An insured has a policy with a Waiver of Premium rider. The insured has suffered an illness that will prevent them for working for two years. When will their premiums be waived? The clause that defines and describ...

GA MLS Real Estate Practical Final Exam Questions With Answers 2023 Solution Safety Clause - CORRECT ANS -A negotiated period after the termination of the listing during which the listing broker may still be entitled to a commission if the property is sold to a buyer who was shown the property during the listing period Survival Clause - CORRECT ANS -A clause in the contract for purchase and sale that, unless otherwise expressly agreed to in writing by the buyer and seller, allows certai...

CON 2370 Simplified Acquisition Procedures Questions and Answers Already Passed You are the contracting officer for a firm-fixed price supply contract valued at $195,400. Which one of the following statements about contract closeout is correct? The contract is considered closed once you receive evidence of receipt of property and final payment. Which of the following statements is true regarding the policies for the use of simplified acquisition procedures (SAP)? Purchases shall be made in the...

Certain conditions, such as dismemberment or total and permanent blinds, will automatically qualify the insured for full disability benefits. Which disability policy provision does this describe? - presumptive disability Which provision concerns the insured's duty to provide the insurer with reasonable notice in the event of a loss? - notice of claim Because an insurance policy is a legal contract, it must conform to the state laws governing contracts which require all of the following el...

At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? - ANSWER Upon completion of the application Who elects the governing body of a mutual insurance company? - ANSWER policyholders An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the - ANSWER Fair Credit Reporting Act What type of reinsurance contract involves two companies automatically sharing their ri...

CMIT Exam (200 multiple choice) Questions with Verified Answers A CM's role and responsibilities are governed solely by the Owner/CM Agreement. True False - CORRECT ANSWER True There are two basic forms of CM, agency and at-risk. Each form provides for the basic services of construction management practice. However, there are some key differences. Which of the following do not apply to both CM forms? A) Both forms provide advice to the owner on constructibility, budget and the schedule....

ALABAMA LIFE INSURANCE EXAM 2 2024 WITH 100% CORRECT ANSWERS UPDATED Dividend options are defined as ways in which the policy owner can: - ANSWERS receives dividends paid on any stock held A life insurance company may pay a death claim for less than the face amount of a policy under which of the following conditions? - ANSWERS All of the above Which policy will have immediate cash? - ANSWERS single premium The process of underwriting primarily involves what two key steps? - ANSWERS ris...

Which of these statements concerning an individual Disability Income policy is TRUE? - Normally includes an Elimination period Which health policy clause stipulates that an insurance company must attach a copy of the application to the policy to ensure that it is part of the contract? - Entire contract M is insured under a basic Hospital/Surgical Expense policy. A physician performs surgery on M. What determines the claim M is eligible for? - Determined by the terms of the policy An insura...

LAW OF CONTRACT NOTES: Contract as an agreement intended to create enforceable obligations A contract is an agreement between two or more parties. The extra ingredient that distinguishes contracts from non-binding agreements is a serious intention to create legally enforceable obligations (animus contrahendi). The absence of an animus contrahendi explains why ‘gentlemen’s agreements’ are not enforceable as contracts. Legally binding agreements that are not contracts: The ...