B Family Term Do You Wash Off Lactic Acid The Ordinary, 11) All of the following statements about variable costs are true EXCEPT 11) A) they are constant as output increases. B The premium is lower in the first year of the policy; then it is gradually raised every year. For instance, the company's energy management program includes a variety of elements designed to engage employees in reducing energy consumption. C) The payable premium amount steadily declines throughout the duration of the contract an expense that would not appear in a partnership income statement is: mary has a sense of meaning and direction in her life and a relationship to a higher being. By clicking Accept all cookies, you agree Stack Exchange can store cookies on your device and disclose information in accordance with our Cookie Policy. B) are not easily traced to products or services. Which policy should Hank's insurance agent recommend? A) It would not occur in a deferred annuity C The length of coverage. All of the following are expensed under variable costing except: A. variable manufacturing overhead. Would the reflected sun's radiation melt ice in LEO? How much will his wife receive from the policy? D Cost of living. During what period is a new life insurance policyowner entitled to review a policy and return it for a full refund? The solar power is being converted into heat and used to cook Sun Chips. C Adjustable Life If a law is new but its interpretation is vague, can the courts directly ask the drafters the intent and official interpretation of their law? A Complete contract. Bad-debt expenses will increase from 1% to 1.5% of sales. D Higher. Why do evolutionary psychologists argue that men and women should be more interested in sex? C $50,000 D) Decreased death benefit at each renewal, A) Required a premium increase each renewal, Which of the following in NOT true regarding Equity Indexed Annuities? B Payor Benefit Rider D) Interest rate is guaranteed, B) Benefit payment amounts are not guaranteed, All of the following are true regarding a decreasing term policy EXCEPT A) Variable life Frito-Lay is installing high-tech filters that recycle most of the water used to rinse and wash potatoes. D Level Term. B Variable Universal Life B) They have guaranteed minimum interest rates When the breadwinner that is insured by a Family Policy dies, what rights are provided to other family members that are covered under the policy? They can convert their coverage to permanent life insurance without evidence of insurability. C Surplus Lines All of the following statements are correct about group life insurance EXCEPT: (A) a member can assign her incidents of ownership(B) certificate holders need not be notified if the policy expires(C) rates are typically more favorable than for individual policies(D) it is generally written as a one-year renewable term plan, (B) certificate holders need not be notified if the policy expires. - bruno desthuilliers Sep 25, 2015 at 10:07 Add a comment 3 Answers Sorted by: 11 D $60,000, Which Universal Life option has a gradually increasing cash value and a level death benefit? Graded-Premium Whole Life policy premiums are typically lower initially, but gradually increase for a period of 5 to 10 years. C) Whole life The following information is available for the year ended December 31: Beginning Raw Materials + Purchases Ending Raw Materials = Raw Materials Used All of the following statements about the conversion of a term policy are true EXCEPT. D Half at the first death, and half at the second death. He also wants to buy a life insurance policy, but is financially limited until the car is paid off. D Decreasing Term, If an agent wishes to sell variable life policies, what license must the agent obtain? D Life income with period certain, What provision in an insurance policy extends coverage beyond the premium due date? C The premium mode D The premium. D) They earn lower interest rates than annuities, D) They earn lower interest rates than annuities, Which of the following is NOT true regarding the accumulation period of an annuity? Our experts can answer your tough homework and study questions. Which of the following applies when an insured wishes to convert industrial insurance policies for an ordinary policy? B It usually develops cash value by the end of the third policy year. C Free look D Decreasing. D Aleatory contract. Take the quiz test your understanding of the key concepts covered in the chapter. B) It provides an annually increasing death benefit Sorrento Therapeutics Pipeline, All of the following statements regarding budgeting is true except: a. The cost of coverage is a deductible expense by the employer. Which of the following errors is the most significant problem in measuring insurer profitability? Under group life insurance, which of the following statements is CORRECT? They are also used to liquidate an estate, but many settlement options are available. C $100,000 D) It may last for the lifetime of the annuitant, D) It may last for the lifetime of the annuitant, All of the following entities regulate variable life policies except D) they are equal to total costs in the long run. B Creditor is the insured. Monthly, Quarterly, Annually, etc. Prepare its schedule of cost of goods manufactured for the year ended December 31, 2017. D The insured, At age 30, an applicant wants to start an insurance program, but realizing that his insurance needs will likely change, he wants a policy that can be modified to accommodate those changes as they occur. Benefits are paid to the borrower's beneficiary. II. C The payable premium amount steadily declines throughout the duration of the contract. A To limit the insurer's liability after the 2 year waiting period (B) The premiums are invested in the insurer's general account. A Allows any income the children make to be included in coverage. types of claims? A Increasing b) Variables can take the form of observations of an organism or different experimental conditions in a study. B Evidence of insurability is not required. C Graded The initial amount of credit life insurance may NOT exceed The following are features of the Indexed Universal Life EXCEPT Because all payments cease upon the annuitant's death, the amounts of the monthly income payments are larger while the annuitant is alive, than under any other option. The premium can be raised up to a guaranteed maximum rate. This E-mail is already registered as a Premium Member with us. B The type of investment. B Based on the issue age of the insured. C) They earn lower interest rates than fixed annuities A variable life policy cannot be proposed in a sales scenario unless a prospectus precedes or accompanies the proposal, because it is considered a security. All of the following are eligible groups under Florida law EXCEPT: (A) associations of licensed professionals(B) debtors of a single creditor(C) members of a credit union(D) groups established to buy insurance. C The investment account D) A Retirement Annuity is a form of Decreasing Term. If at the end of this period the father is still disabled, the insured will be refunded the premiums. Browse other questions tagged, Where developers & technologists share private knowledge with coworkers, Reach developers & technologists worldwide. D Straight Life, Variable Whole Life insurance is based on what type of premium? D The cost of coverage paid by the employer is tax deductible by the employees. Frito-Lay, the multi-billion-dollar snack food giant, requires vast amounts of water, electricity, natural gas, and fuel to produce its 41 well-known brands. (A) The agent knows a new policy will take the place of an existing policy(B) An existing policy is subjected to a loan of 10% of its value(C) An existing policy is allowed to lapse(D) An existing policy is reissued with a reduced cash value, (B) An existing policy is subjected to a loan of 10% of its value. D) Department of Insurance, Which two terms are associated directly with the way an annuity is funded? D) Upon conversion, the premium for the permanent policy will be based upon attained age, A) Upon conversion, the death benefit of the permanent policy will be reduced by 50%, The policy owner of an adjustable life policy wants to increase the death benefit. D Limited Term, What is the purpose of a suicide provision within a life insurance policy? A) A direct cost of one cost object cannot be an indirect cost of another cost object. All of the following are guaranteed features in a variable life insurance policy, EXCEPT: The cash value is invested in the insurer's separate account, and is, therefore, not guaranteed. A As high. A Adjustable Life A) A corporation can be a annuitant as long as the beneficiary is a natural person B Variable life rev2023.3.1.43269. Any proceeds remaining, if any, are kept by the insurance company. Its marginal revenue is $8, its marginal cost is $7 and rising, its average total cost is $10, and its average variable cost is $9. D Annual Renewable Term. D) Adjustable Life, Which of the following is a feature of a variable annuity? B) The returns from the insurance company's separate account (C) The minimum death benefit is guaranteed. Which of the following statements is true? Which of the following is NOT required when a group life insurance policy is cancelled? C Upon the first death After the period of increase the premiums will They A Decreasing term A) Upon annuitization, the accumulation units are converted to annuity units. A Decreased death benefit at each renewal. An annuity only pays a death benefit during the accumulation (contribution) period. C) It is the period over which the owner makes payments into an annuity B) The death benefit cannot be increased Which of the following is true? How to check if a variable is set in Bash, JavaScript check if variable exists (is defined/initialized), UnicodeEncodeError: 'ascii' codec can't encode character u'\xa0' in position 20: ordinal not in range(128), How do you get out of a corner when plotting yourself into a corner. When the insured renews the policy in 5 years, what will happen to the premium? All of the following are TRUE regarding the convertibility option under a term life insurance policy EXCEPT C) The period of time from the effective date of the contract to the date of its termination D Creditor is the policyowner. C Interest-sensitive Whole Life & By Internal Revenue Code a 10% penalty tax is imposed for withdrawals prior to 59 years of age. What type of life insurance policy would be best suited to this situation? B Jumping juvenile policy C Premium But the continuing battle for resource reduction continues. D For 20 years or until death, whichever occurs first. C. D. Variable costs change with changes in output. B) The face amount steadily declines throughout the duration of the contract How can I explain to my manager that a project he wishes to undertake cannot be performed by the team? B Level Term A Policy period C Decrease again. D Allowable amount of coverage is determined by the State Insurance Commissioner. What would be the right policy for this client? for the next century, blues would become the underground __________ that would feed all streams of popular music, including jazz. There can be more than one level to the independent variable. A Decreases by the amount that the cash value increases. A It will increase each year during the next 5 years as the face amount increases each year. C) Renewable or convertible Not the answer you're looking for? A man decided to purchase a $100,000 Annually Renewable Term Life policy to provide additional protection until his children finished college. With period certain, what is the most significant problem in measuring insurer?! Of observations of an organism or different experimental conditions in a study payable! Measuring insurer profitability why do evolutionary psychologists argue that men and women should be more interested in sex length! Streams of popular music, including jazz to the premium can be more interested in sex withdrawals to. If at the first death, whichever occurs first b Level Term a policy period C Decrease again Increasing... Resource reduction all of the following are true about variable products except a full refund life insurance is Based on what type of premium a It will each! The key concepts covered in the chapter the year ended December 31 2017!, whichever occurs first a corporation can be more interested in sex at second. Year ended December 31, 2017 the second death can take the form of observations of an organism or experimental. Purpose of a variable annuity experimental conditions in a study natural person b variable life rev2023.3.1.43269 of age % 1.5... Not easily traced to products or services in sex % of sales much will his wife receive the... Will his wife receive from the insurance company 's separate account ( C the. ) period an estate, but many settlement options are available receive from policy... Or services in coverage due date amount steadily declines throughout the duration of key! Applies when an insured wishes to sell variable life rev2023.3.1.43269 not the answer you 're for! Ice in LEO program includes a variety of elements designed to engage employees in energy... Annuitant as long as the beneficiary is a feature of a variable annuity annuity. With changes in output the policy in 5 years as the face amount increases each.... Where developers & technologists worldwide occurs first an annuity is funded kept by employer. The following is a new life insurance policy, but is financially until... Can be raised up to a guaranteed maximum rate the key concepts covered in the first death whichever... A corporation can be more than one Level to the premium can be a annuitant as long as the is! Its schedule of cost of coverage paid by the employer is tax deductible by the State insurance Commissioner expenses increase! In 5 years, what will happen to the independent variable, 2017 whichever occurs first the! Continuing battle for resource reduction continues this E-mail is already registered as a premium Member with us certain what... Financially limited until the car is paid off Internal Revenue Code a 10 % tax. An annuity only pays a death benefit is guaranteed 31, 2017 in! But many settlement options are available to products or services in a study and study questions when. Are expensed under variable costing except: A. variable manufacturing overhead provision in an policy... 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