Ciari - Samenvattingen, Notities en Examens

The premium payment mode that results in the highest overall cost would be A) monthly B) quarterly C) semi- annual D) annual - ANSWERA) monthly Naming a contingent beneficiary as "all surviving children" is described by which term? A) Contingent designation B) Primary designation C) Class designation D) Tertiary designation - ANSWERC) Class designation A life insurance claim which involves a per capita distribution of policy proceeds would be payable to the A) estate of...

AHIP 2021 Bundle 55 pages overall. Mr. Xi will soon turn age 65 and has come to you for advice as to what services are provided under Original Medicare. What should you tell Mr. Xi that best describes the health coverage provided to Medicare beneficiaries? a. Medicare Part B generally provides prescription drug coverage. b. Beneficiaries under Original Medicare have no cost-sharing for most preventive services which include immunizations such as annual flu shots. c. Medicare Part A generally...

Commercial Banks and other Financial Intermediaries Part 1 Questions and Answers 2023 A financial market can be categorized as either a ________ market or a financial intermediaries market. Securities. A securities market is one where agents trade debt and equity claims of the final borrowers. So, shares of Microsoft are bought and sold in securities markets. The market for savings deposits of commercial banks is an example of the financial ___________ market. Intermediaries. Commercia...

Over the course of a year, which premium payment mode is most expensive? Monthly Quarterly Semi-Annually Annually - ANSWERMonthly Sharon is the policyowner of a $50,000 life insurance policy. Her son, Mike, is the beneficiary. If Sharon MUST obtain Mike's signature in order to change the beneficiary, what kind of beneficiary designation is this? Tertiary Contingent Revocable Irrevocable - ANSWERIrrevocable Level premium term life insurance policies build cash va...

Primary Factors In Premium Calculations - ANSWER1. Mortality Factor 2. Interest Factor 3. Expense Factor Morality Factor - ANSWERA measure of the number of deaths in a given population. Mortality is based on a large risk pool of people and time. Insurance companies use mortality tables to help predict the life expectancy and probability of death for a given group. Interest Factor - ANSWERInsurance companies invest the premiums they receive in an effort to earn interest. This interest is ...

Mortality factor - ANSWERmortality tables indicate the number of individuals within a specified group starting at a certain age, who are expected to be alive at a succeeding age; this table indicates Natural premium - ANSWERamount of premium that must be collected from each member of a group composed of same age, sex, risk in order to pay $1000 for each death that will occur in the group each year Interest factor - ANSWERsince premiums are paid before claims are incurred, insurance compani...

Who is the beneficiary in a life insurance policy? - ANSWERThe stated person or entity who is designated to receive the death proceeds When a policy loan is requested by a policyowner and it requires the consent of the beneficiary, what kind of beneficiary designation is this? - ANSWERIrrevocable beneficiary The beneficiary of a life insurance policy is normally selected by whom? - ANSWERPolicyowner Which settlement option makes minimum guaranteed dollar payments over a stated number of...

If the insured and primary beneficiary are both killed in the same accident and it cannot be determined who died first, where are the death proceeds to be directed under the Uniform Simultaneous Death Act? - ANSWERInsured's contingent beneficiary When can a policyowner change a revocable beneficiary? - ANSWERAnytime Which premium schedule results in the lowest cost to the policyowner? - ANSWERAnnual A level premium indicates - ANSWERthe premium is fixed for the entire duration of the c...

Chapter 15- Judiciaries MULTIPLE-CHOICE QUESTIONS 1. Unlike natural law, positive law uses . A) the spirit of the law to make determinations B) books to reach conclusions C) judicial sentencing to determine case outcomes D) jury selection to manipulate judgment Answer: B Learning Objective: 15.1 Page Reference: 243 A-Head: Types of Law Skill Level: Remember the Facts 2. Which of the following issues is a civil concern? A) Extortion B) Theft C) Divorce D) Trafficking Ans...