Lump sum benefits - Study guides, Study notes & Summaries

This document contains answers of LML4804, Assignment 1 Semester 2. (a) The lump sum received when Mrs Beatrice was retrenched: The lump sum of R1 million received by Mrs Beatrice on termination of her employment is considered a retirement benefit. In South Africa, retirement benefits are subject to tax.

An insured purchased a 10-year level term life policy that is guaranteed renewable and convertible. What happens at the end of the 10-year term? correct answer: The insured may renew the policy for another 10 years, but at a higher premium rate. Which of the following statements is TRUE concerning whole life insurance? correct answer: Lump-sum death benefits are not taxable. A corporation is the owner and beneficiary of the key person life policy. If the corporation collects the policy b...

In built up roofs, cant strips shall extend how many inches up the vertical surface? - 5" Air entertainment should always be specified for concrete exposed to what? - Freezing and thawing In a post tensioning environment, when a two-stroke pull is required, the final pull should be pre-calculated to use no more than what percentage of the full stroke of the jack on the final pull? - 60% Tack or spot welding can reduce the strength of a bar to what percent of its original capacity? - 35...

CRCR Exam Prep What are collection agency fees based on? - correct answer A percentage of dollars collected Self-funded benefit plans may choose to coordinate benefits using the gender rule or what other rule? - correct answer Birthday In what type of payment methodology is a lump sum or bundled payment negotiated between the payer and some or all providers? - correct answer Case rates What customer service improvements might improve the patient accounts department? - correct answer Ho...

Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - Correct Answers they are not guaranteed When there is a named beneficiary on a life insurance policy, the death benefits 1. are directed to a trustee ...

Missouri Life and Health Insurance Final Exam Graded A+ Whose interest is being protected by the enactment of " The Replacement of Life Insurance and Annuities" regulation? policyowner Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until February 7. Q is dissatisfied and returns the policy February 13. How will the insurer handle this situation? policy was returned with the "free look" per...

When an asset is purchased (or disposed of) at a time other than the beginning or the end of an accounting period, depreciation is recorded for part of a year so that the year of disposal is charged with its share of the asset's depreciation - ANSWER-true Revising an estimate of the useful life or salvage value of a plant asset is referred to as a change in accounting estimate and is reflected in the current and future financial statements. - ANSWER-true the purchase of a property that in...

According to the California Insurance Code, what term is used to describe a fact so important it could affect the policy premium? - Answer- Materiality Which of the following is NOT a life insurance settlement option? - Answer- Extended Term Option True answer- Life income option, Fixed amount option, Lump Sum option Major Medical expense plans typically use a cost containment measure for emergency care. This is refereed to as a - Answer- Deductible Which type of risk is gambling? -...

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....

What are collection agency fees based on? A percentage of dollars collected Self-funded benefit plans may choose to coordinate benefits using the gender rule or what other rule? Birthday 00:13 01:24 In what type of payment methodology is a lump sum or bundled payment negotiated between the payer and some or all providers? Case rates What customer service improvements might improve the patient accounts department? Holding staff accountable for customer service d...