Contingent renewal - Study guides, Study notes & Summaries

K has a life insurance policy where her husband is beneficiary and her daughter is contingent beneficiary. Under the common disaster clause if K and her husband were both killed in an automotive accident, where would the death proceeds be directed? - The daughter. What foremost an applicant be provided with prior to policy delivery if it's replacing an existing health policy? - Notice regarding replacement. At the age of 45, an individual with draws $50,000 from his qualified profit-sharin...

CISR Agency Operations Self Quiz 50 Questions with Answers Which one of the following best describes actual authority? - CORRECT ANSWER When the agency is expressly given authority in the agency contract Which one of the following statements best describes the standard of care an insurance agency owes an insurance company? - CORRECT ANSWER Loyalty, good faith, reasonable care and contractual duties Which one of the following is not one of the four benefits of ethical behavior? - CORRE...

What is a primary goal of the accounting profession? : Consistent treatment of like transactions to allow clarity in presentation and consistency in interpretation of financial statements prepared by various individuals or entities. How did APB (Accounting Principals Board) fail? : Created Opinion #5 (Reporting of Leases in Financial Statements of Lessees) and Opinion #7 (Accounting for Leases in Financial Statements for Lessors) that ha different opinions and left lessors & lessees wit...

A funeral prearrangement life insurance agent must be supervised - Answer- By a legal reserve life insurance agent whose company holds a seller's permit. The maximum initial guaranteed death benefit that a funeral prearrangement life insurance agent may sell is - Answer- $15,000 A funeral prearrangement life insurance agent license expires when the agent - Answer- Fails to submit a biannual renewal application and fee When an application for an insurance agent license is denied, except...

A primary beneficiary has died before the insured in a life insurance policy. A contingent beneficiary is also named in the policy. What will happen when the insured dies? - ️️Proceeds will go to the contingent beneficiary What combination plan is designed to protect an insured from an unpaid mortgage balance upon premature death? - ️️Joint Life - policy covers two or more people. Using some type o permanent insurance, it pays the death benefit at the first insured's death Accordi...

PSI CA PROPERTY AND CASUALTY PRACTICE EXAMINATION QUESTIONS WITH COMPLETE VERIFIED GRADED A+ 1 Can a lender, as a condition of making a loan, require that any insurance be placed through a particular insurance agent or broker? The loan recipient may always select a particular agent or broker of their choosing 2 A claimant can be any of the following EXCEPT EXCEPT a person who is conducting an investigation of a claim on behalf of an insurer 3 All of the following are to be specified in an...

Who appoints the Real Estate Inspector Committee? The Commission (TREC) What are some power & duties of the committee? Recommend: -rules relating to aspects of inspections (education, experience, exams, CE, etc.) -required rules -reasonable fees -SOP rules -code of professional conduct Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:09 / 0:15 Full screen What's the difference between direct & indirect supervision? Sp...

CLFP EXAM - Financial and Tax Accounting for Leases | 100% Correct Answers | Verified | Latest 2024 Version What is a primary goal of the accounting profession? - Consistent treatment of like transactions to allow clarity in presentation and consistency in interpretation of financial statements prepared by various individuals or entities. How did APB (Accounting Principals Board) fail? - Created Opinion #5 (Reporting of Leases in Financial Statements of Lessees) and Opinion #7 (Acco...

MS Life and Health Insurance Test Questions and Answers Already Passed Which of these do NOT constitute policy delivery? Policy issued with a rating Which of these types of life insurance allows the policyowner to have level premiums and to also choose from a selection of investment options? Variable Life J, an Accidental Death and Dismemberment (AD&D) policy holder, dies after injuries sustained in an accident. J's age as stated on the application five years ago was found to be und...

Kentucky Life & Health Complete Guide A complaint was lodged against a producer. The producer began explaining whole life insurance, then swayed the client to a term policy, without explaining the difference, and offered the client a cell phone if she bought insurance. Which would NOT pertain? Commissioner can subpoena client & producer to hearing. Producer may be liable for a penalty up to $5,000 for the first offense & $10,000 for each subsequent offense. Commissioner may revoke ...