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MINNESOTA LIFE HEALTH INSURANCE PACKAGE DEAL
MINNESSOTA LIFE HEALTH INSURANCE PACKAGE DEAL|SUCCESS GUARANTEED
[Meer zien]MINNESSOTA LIFE HEALTH INSURANCE PACKAGE DEAL|SUCCESS GUARANTEED
[Meer zien]Speculative Risk - ️️involves the chance of loss or gain, and is not insurable 
 
Pure Risk - ️️involves the chance of loss only, and is insurable 
 
Peril - ️️Something that causes a direct loss 
 
Physical Hazard - ️️Visible (Black ice) 
 
Moral Hazard - ️️dishonest tendencies ...
Voorbeeld 3 van de 24 pagina's
In winkelwagenSpeculative Risk - ️️involves the chance of loss or gain, and is not insurable 
 
Pure Risk - ️️involves the chance of loss only, and is insurable 
 
Peril - ️️Something that causes a direct loss 
 
Physical Hazard - ️️Visible (Black ice) 
 
Moral Hazard - ️️dishonest tendencies ...
Insurance is a... - ️️transfer of risk 
 
What type of risk is gambling? - ️️Speculative Risk 
 
What type of risk is a car accident? - ️️Pure Risk 
 
What type of risk is insurable? - ️️Pure Risk 
 
uncertainty about whether a loss will occur - ️️Risk 
 
Risk Management Method A...
Voorbeeld 3 van de 20 pagina's
In winkelwagenInsurance is a... - ️️transfer of risk 
 
What type of risk is gambling? - ️️Speculative Risk 
 
What type of risk is a car accident? - ️️Pure Risk 
 
What type of risk is insurable? - ️️Pure Risk 
 
uncertainty about whether a loss will occur - ️️Risk 
 
Risk Management Method A...
The commissioner examines each insurer every __ years - ️️5 
 
$__ fine per day if a person violates, aids or abets a written case and desist order - ️️10000 
 
Licensee may request a hearing within __ days of commissioner's order - ️️30 
 
After hearing request, the commissioner has __...
Voorbeeld 2 van de 8 pagina's
In winkelwagenThe commissioner examines each insurer every __ years - ️️5 
 
$__ fine per day if a person violates, aids or abets a written case and desist order - ️️10000 
 
Licensee may request a hearing within __ days of commissioner's order - ️️30 
 
After hearing request, the commissioner has __...
How are employee FICA taxes collected? - ️️The employer withholds the employee's tax and pays it along with the employer's portion 
 
Mateo applies for an insurance policy that will have an annual premium payment of $1,000 ($510 semi-annually, $260 quarterly, and $100 monthly) if issued. Which...
Voorbeeld 2 van de 12 pagina's
In winkelwagenHow are employee FICA taxes collected? - ️️The employer withholds the employee's tax and pays it along with the employer's portion 
 
Mateo applies for an insurance policy that will have an annual premium payment of $1,000 ($510 semi-annually, $260 quarterly, and $100 monthly) if issued. Which...
Information about Health Maintenance Organizations (HMOs) - ️️-Employers with more than 25 employees must offer an HMO as an alternative to their regular health plans. 
-Reduce cost of healthcare through preventative care 
-Needs to be approved by MN DHS 
-Provides services rather than reimburs...
Voorbeeld 2 van de 9 pagina's
In winkelwagenInformation about Health Maintenance Organizations (HMOs) - ️️-Employers with more than 25 employees must offer an HMO as an alternative to their regular health plans. 
-Reduce cost of healthcare through preventative care 
-Needs to be approved by MN DHS 
-Provides services rather than reimburs...
The initial amount of credit life insurance may NOT exceed 
A-The borrower's annual income. 
B-The amount to be repaid under the contract. 
C-An amount set by statute and adjusted regularly for inflation. 
D-The borrower's monthly income. - ️️B 
 
This state provided for a temporary licens...
Voorbeeld 4 van de 58 pagina's
In winkelwagenThe initial amount of credit life insurance may NOT exceed 
A-The borrower's annual income. 
B-The amount to be repaid under the contract. 
C-An amount set by statute and adjusted regularly for inflation. 
D-The borrower's monthly income. - ️️B 
 
This state provided for a temporary licens...
In what type of policy does the owner pay the same premium throughout the term of the contract? - ️️Level premium policy 
 
Which type of beneficiary CANNOT be changed without consent? - ️️The beneficiary is irrevocable 
 
How many totals hours of continuing education covering the subjects f...
Voorbeeld 2 van de 8 pagina's
In winkelwagenIn what type of policy does the owner pay the same premium throughout the term of the contract? - ️️Level premium policy 
 
Which type of beneficiary CANNOT be changed without consent? - ️️The beneficiary is irrevocable 
 
How many totals hours of continuing education covering the subjects f...
1x verkocht
Which of the following is not a duty of the Commissioner? 
 
a. Issue an insurance license for a producer 
b. Make state insurance laws 
c. Handle insurance-related consumer complaints 
d. Enforce state insurance laws - ️️b. Make state insurance laws 
 
During policy solicitation an insurer exag...
Voorbeeld 3 van de 24 pagina's
In winkelwagenWhich of the following is not a duty of the Commissioner? 
 
a. Issue an insurance license for a producer 
b. Make state insurance laws 
c. Handle insurance-related consumer complaints 
d. Enforce state insurance laws - ️️b. Make state insurance laws 
 
During policy solicitation an insurer exag...
In what type of policy does the owner pay the same premium throughout the term of the contract? - ️️Level premium policy 
 
Which type of beneficiary CANNOT be changed without consent? - ️️The beneficiary is irrevocable 
 
How many total hours of continuing education covering the subjects fo...
Voorbeeld 2 van de 11 pagina's
In winkelwagenIn what type of policy does the owner pay the same premium throughout the term of the contract? - ️️Level premium policy 
 
Which type of beneficiary CANNOT be changed without consent? - ️️The beneficiary is irrevocable 
 
How many total hours of continuing education covering the subjects fo...
Governor - ️️Powers and Duties of Commissioner 
 
Appoints the Commissioner of Commerce 
 
enforce insurance laws - ️️Powers and Duties of Commissioner 
 
The Commissioner is empowered to_________________. (1 of 8 things) 
 
five years - ️️Powers and Duties of Commissioner 
 
The Commiss...
Voorbeeld 2 van de 11 pagina's
In winkelwagenGovernor - ️️Powers and Duties of Commissioner 
 
Appoints the Commissioner of Commerce 
 
enforce insurance laws - ️️Powers and Duties of Commissioner 
 
The Commissioner is empowered to_________________. (1 of 8 things) 
 
five years - ️️Powers and Duties of Commissioner 
 
The Commiss...
The law of large numbers 
 
A) states that there must be an adequate spread of risk for insurance to be effective. 
B) states that large risks should be transferred to an insurance company. 
C) prohibits insurance with extremely high premiums. 
D) states that the more examples used to develop a stat...
Voorbeeld 4 van de 102 pagina's
In winkelwagenThe law of large numbers 
 
A) states that there must be an adequate spread of risk for insurance to be effective. 
B) states that large risks should be transferred to an insurance company. 
C) prohibits insurance with extremely high premiums. 
D) states that the more examples used to develop a stat...
The Commissioner examines each insurer every ______ years - ️️5 
 
There is a _________ fine per day if a person violates, aids, or abets a written cease and desist order - ️️$10,000 
 
Licensee may request a hearing within _________ days of Commissioner's order - ️️30 
 
After hearing ...
Voorbeeld 2 van de 7 pagina's
In winkelwagenThe Commissioner examines each insurer every ______ years - ️️5 
 
There is a _________ fine per day if a person violates, aids, or abets a written cease and desist order - ️️$10,000 
 
Licensee may request a hearing within _________ days of Commissioner's order - ️️30 
 
After hearing ...
In what type of policy does the owner pay the same premium throughout the term of the contract? 
 
a. Deferred premium policy 
b. Single premium policy 
c. Level premium policy 
d. Flexible premium policy - ️️c. Level premium policy 
 
Which type of beneficiary CANNOT be changed without consent?...
Voorbeeld 3 van de 18 pagina's
In winkelwagenIn what type of policy does the owner pay the same premium throughout the term of the contract? 
 
a. Deferred premium policy 
b. Single premium policy 
c. Level premium policy 
d. Flexible premium policy - ️️c. Level premium policy 
 
Which type of beneficiary CANNOT be changed without consent?...
What is an agent? - ️️Someone who acts on behalf of another (producer) 
 
What is a principal? - ️️Party for whom action is taken (insurance company) 
 
What is an agency agreement? - ️️Legal agreement that establishes the relationship between the principal and agent; outlines powers and...
Voorbeeld 4 van de 44 pagina's
In winkelwagenWhat is an agent? - ️️Someone who acts on behalf of another (producer) 
 
What is a principal? - ️️Party for whom action is taken (insurance company) 
 
What is an agency agreement? - ️️Legal agreement that establishes the relationship between the principal and agent; outlines powers and...
A producer offer a buyer $100 basketballs game tickets (not specified in the contract) introduce to purchase a policy, if the prospect purchase the policy and accepts the tickets, the Producer be will guilty of? - ️️Rebate 
 
All of the producers (except those who only transact credit insurance)...
Voorbeeld 2 van de 5 pagina's
In winkelwagenA producer offer a buyer $100 basketballs game tickets (not specified in the contract) introduce to purchase a policy, if the prospect purchase the policy and accepts the tickets, the Producer be will guilty of? - ️️Rebate 
 
All of the producers (except those who only transact credit insurance)...
Which of these factors do NOT play a role in the underwriting of a health insurance policy? 
Avocations 
Credit status 
Marital status 
Occupation - ️️Marital Status 
	 
An individual who in any manner sells, solicits, or negotiates insurance on behalf of insurance companies for compensation is ...
Voorbeeld 3 van de 21 pagina's
In winkelwagenWhich of these factors do NOT play a role in the underwriting of a health insurance policy? 
Avocations 
Credit status 
Marital status 
Occupation - ️️Marital Status 
	 
An individual who in any manner sells, solicits, or negotiates insurance on behalf of insurance companies for compensation is ...
Pay next year's premium in advance - ️️In order to reinstate a life insurance policy the insured must do all of the following EXCEPT: 
 
At the insured's age 100 - ️️In whole life insurance, when is the policy cash value scheduled to equal the face amount. 
 
Twisting - ️️An agent tell...
Voorbeeld 2 van de 9 pagina's
In winkelwagenPay next year's premium in advance - ️️In order to reinstate a life insurance policy the insured must do all of the following EXCEPT: 
 
At the insured's age 100 - ️️In whole life insurance, when is the policy cash value scheduled to equal the face amount. 
 
Twisting - ️️An agent tell...
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