Variable pay plans - Study guides, Class notes & Summaries

PSI: LIFE, ACCIDENT, AND HEALTH PRACTICE EXAM ALREADY PASSED Under the misstatement of age or gender provision, what happens if it is determined at death that the insured's age or gender was misstated on a life insurance policy application? Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender. Which of the following must be given to the insurer within 20 days after occurrence or commencement of any loss covered by the policy, or as thereafter a...

CA Life and Health Exam Questions and Answers Already Passed What is insurance? Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. What's the difference between pure risk and speculative risk? Pure risk is when you'll lose it all or there will be no change. Speculative risk you can either win or lose. What is peril? peril is the causes of loss insured against in an insurance policy What is hazard? conditions that increase the pr...

H has suffered a covered disability away from her job and will shortly begin collecting benefits. The insurer sends a letter to H stating that she will not receive any benefit amounts greater than her income. This clause is known as: A: Over-insurance clause B: free look C: relation of earning to insurance D: relation of economic value - answer-C: relation of earning to insurance The insured should be aware of the issue date upon delivery a policy and the date should be listed on: A: the...

Variable Pay Plans- Questions and Answers

TABLE OF CONTENTS_ Chapter 1 The Pay Model Chapter 2 Stra tegy: The Totality of Decisions PART I Internal Alignment: Determining the Structure Chapter 3 Defining Internal Alignment Chapter 4 Job Analysis Chapter 5 Job-Based Pay Structures and Job Evaluation Chapter 6 Person-Based Pay Structures PART II External Competitiveness: Determining the Pay Level Chapter 7 Defining External Competitiveness Chapter 8 Designing Pay Levels, Pay Mix, and Pay Structures Appendix 8 - A Calculating a Market Line...

Entire Contract Provision - ANSWER found at the beginning of the policy, saying that the policy cannot refer to any outside documents as being part of the contract and prohibiting the insurer from making any changes to the policy after it has been issued. (can only make good changes not bad) Insuring Clause - ANSWER sets forth the company's basic promise to pay benefits upon the insured's death. Free-Look Provision - ANSWER gives policyowners the right to return the policy for a full pre...

NRNP 6675/ NRNP6675 Midterm Exam Quiz Bank (2023/ 2024) | Complete Guide| Questions and Verified Answers 1. Which of the following is not consistent with benzo withdrawal? - Answer: B) The best way to proceed with benzo withdrawal is to stop it immediately and tx withdrawal s/s 2. Which of the following is true about the legal practice of the PMHNP? - Answer: D) A&B only A) all have some degrees of prescriptive privileges i...

Disability Buy-Out plans feature: - ANSWER Long elimination plans up to two years (A disability buy-out plan funded with disability insurance has a long elimination period of generally two years. The elimination period begins the day of the disability. Then the disability policy will provide a lump sum to buy the disabled partner out. They want to make sure that the partner is not going to recover and come back to work) When MUST the Office of Insurance Regulation conduct a market conduct exa...

Why are some compensation plans referred to as variable pay? - because employee pay is linked to performance According to research, which of the following best describes incentive plans? - They can contribute to organizational performance if certain conditions are met. Which of the following is NOT a reason given by organizations for implementing incentive plans? - to increase employee benefits

California Life, Accident, and Health Insurance Final Exam Questions and Answers Already Passed What distinguishes a deferred annuity from an immediate annuity? The time at which benefit payments start Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? 60 payments What is a common reason people purchase an annuity? To protect against the risk of outlivin...