Rebating is - Study guides, Class notes & Summaries

1. The information an insurance agent must collect for customer identification purposes depends on a. the amount of money the customer is worth. b. The amount of money the customer spends. c. whether the insurance product the customer is purchasing at a low or high risk for money laundering. d. the size and resources of the insurance company. - Answer- c. Whether the insurance product under consideration is at a low or high risk for money laundering 2. When Tom Jensin mixes illicit and le...

A Surplus Lines Producer may collect a fee from the Insured to fund the Surplus Lines Advisory Board. This fee is known as the? Answer - stamping fee An inducement to purchase an insurance policy is: Select one: ation ing Answer - rebating A nonresident producer licensed in Montana may sell: Select one: insurance that is otherwise lawfully sold in the state of Montana. those types of insurance that the producer could have sold in the producer's state of residence. Answer - only th...

ALASKA LIFE AND HEALTH INSURANCE STATE EXAM 2024 WITH 100% CORRECT ANSWERS ___ is the act of offering an applicant something of value as an inducement to purchase an insurance policy - correct answer Rebating ___ is the authority given to a producer to transact business on behalf of the insurer. - correct answer appointment ___ of personal life insurance premiums is usually deductible for federal income tax purposes. - correct answer 0% ___is the act of replacing existing life insu...

Which type of coverage relates to damage to or destruction of detached structures in a typical homeowners policy? Coverage B Coverage A Coverage D Coverage C CORRECT ANSWER Cov B The unfair trade practice of offering inducements for the purchase of insurance is called? controlled business rebating misrepresentation false advertising CORRECT ANSWER rebating In which type of group life insurance policy may the holder allocate the net premiums to one or more of seve

___ is the act of offering an applicant something of value as an inducement to purchase an insurance policy - correct answer Rebating ___ is the authority given to a producer to transact business on behalf of the insurer. - correct answer appointment ___ of personal life insurance premiums is usually deductible for federal income tax purposes. - correct answer 0% ___is the act of replacing existing life insurance with a new life insurance policy based upon incomplete or incorrect repres...

NJ Life Producer Exam Correct answers latest update Which of the following amounts must decrease in a decreasing term? Death benefit In life insurance, insurable interest must exist at the time the.. Producer writes an on a proposed insured An applicant makes an offer to the insurer when they pay an initial premium with the application Which of the following makes Universal Life insurance different from other forms of permanent insurance? Premium Schedule An insurer that...

FLORIDA 2-20 EXAM | 837 TEST BANK ACTUAL QUESTIONS AND ANSWERS 100% CORRECT | LATEST UPDATE 2024 {WELL ILLUSTRATED} 1.If someone would suffer economic loss from damage to their property, they have: A: a subrogation right B: a proximate cause C: an insurable interest D: a contingent claim C: an insurable interest 2. A convenience used to provide temporary insurance is called: A - Insurance B - binder C- property coverage D- liability coverage B - binder 3. The failure of ...

5.- Colorado Statutes, Rules, and Regulations Common to All Lines Questions and Answers 100%Pass A producer is required to permit premiums from a trust account to the insurer within how many days of receipt? - Correct Answer ️️ -45 days Which of the following accurately describes the ability of a licensed Colorado resident producer to become licensed in other states? - Correct Answer ️️ -The producer can get a nonresident license in all reciprocal states All of the following woul...

Which type of coverage relates to damage to or destruction of detached structures in a typical homeowners policy? Coverage B Coverage A Coverage D Coverage C correct answers Cov B The unfair trade practice of offering inducements for the purchase of insurance is called? controlled business rebating misrepresentation false advertising correct answers rebating In which type of group life insurance policy may the holder allocate the net premiums to one or more of sever...

Pennsylvania Property and Casualty Law Supplement Questions and Answers Already Passed Agents and brokers must notify the Insurance Department of any change in their residence or business address within: 30 days Insurers issuing liability policies covering motor vehicles in Pennsylvania must offer all of the following coverages EXCEPT: A) injuries incurred on the job. B) accidental death benefit. C) funeral benefit. D) income loss benefit. A What is the maximum term of a tempo...