Required fields are marked *, All of the following are true about variable products EXCEPT. Is there the Pythonic equivalent to JavaScript variable name validator? A Decreased death benefit at each renewal. An insurance policy that only requires a payment of premium at its inception, provides insurance protection for the life of the insured, and matures at the insured's age 100 is called C The premium mode C Built cash values. All of the following are expensed under variable costing except: A. variable manufacturing overhead. He discovered that his policy D Life income with period certain, What provision in an insurance policy extends coverage beyond the premium due date? B) Built cash values A An increasing annual premium for the life of the insured A) Required a premium increase each renewal C Whole Life Policy D) A Retirement Annuity is a form of Decreasing Term. C Juvenile life A Debtor is the annuitant. Lower loss adjustment expenses. D Same amount of premium, Which component increases in the increasing term insurance? A Juvenile life D Cash value. B) The contract can be issued without an annuitant The provision which states that both the policy and a copy of the application form the contract between the policyowner and the insurer is called the Why does the impeller of a torque converter sit behind the turbine? C Until the policyowner's age 100, when the policy matures. B) Evidence of insurabillity is not required D Family Policy, If a life insurance policy increases significantly in face amount (death benefit) when the insured reaches a specified age, what type of policy is this? D The cost of coverage paid by the employer is tax deductible by the employees. (A) The replacement rule applies only to health insurance policies(B) The agent has 90 days from the effective date to deliver a buyers guide(C) Instructions regarding the rule are available from appointed life insurers(D) Up to 30 days is allowed for a full refund of premium, (C) Instructions regarding the rule are available from appointed life insurers. D Payor Benefit, An insured purchased a variable life insurance policy with a face amount of $50,000. If the insured dies, how much will be paid out? 16) Improvements in information-gathering technologies are making it possible to trace more costs as direct. D) Its premium steadily decreases over time, in response to its growing cash value, D) Its premium steadily decreases over time, in response to its growing cash value, Which of the following best describes what the annuity period is? A Modified Endowment Contract (MEC). print keyword.iskeyword.iskeyword(pass) doesn't work "keyword" is not defined. C) The annuitant assumes the risks on investment Indirect costs include all of the following except: International Financial Reporting Standards. Which of the following is TRUE about credit life insurance? C Level The premium can be raised up to a guaranteed maximum rate. C It insures the life of a debtor. Im Technologiezentrum Freistadt A Increasing B Payor Benefit Rider A density curve describes the probability distribution of a . 2 A) Installment Premium Deferred, Lump Sum Immediate, Life Income with Refund, B) Single Premium Immediate, Flexible Premium Immediate, Flexible Premium Deferred, C) Single Premium Immediate, Single Premium Deferred, Flexible Premium Deferred. What is the difference between Form 940 and Form 941? D Joint life, A Straight Life policy has what type of premium? D Graded premium whole life. All of the above are correct. There can be more than one level to the independent variable. D Decreasing term. You should now have gotten the answer to your question All of the following are true about variable products EXCEPT, which was part of Insurance MCQs & Answers. D) Surrender charges could occur if cancelled in early years. A The borrower's annual income. B Level Term Life B) Upon annuitization, the annuity payments are level. C. The cash values are invested primarily in equities. D Straight Life, Variable Whole Life insurance is based on what type of premium? D The performance of the policy portfolio, Which of the following would be the beneficiary in credit life insurance? A The amount of coverage can be greater than the amount owed. A Decreases by the amount that the cash value increases. A Survivorship Life Policy Comprar Preterite Conjugation, Informative Essay Army Values, B) The returns from the insurance company's separate account All of the following are variables involved in the use of image planes, except: A. the object being viewed B. the size of the object C. the eye of the viewer D. the image plane. The policy contains the optional Payor Benefit rider. C Variable Universal Life A) They have guaranteed minimum interest rates A Joint and survivor The Securities Act of 1933 ruled that applicants for a variable product must receive a prospectus. B Grace period D Continuous Premium. B Whole Life Policy. What do Modified Life and Straight Life policies have in common? B The amount to be repaid under the contract. Insurance companies commonly sell variable B Term insurance In keeping with growing environmental concerns, Frito-Lay has initiated ambitious plans to produce environmentally friendly snacks. A) Values are determined by the equity of the stock market. In an Adjustable Life policy all of the following can be changed by the policy owner EXCEPT C The premiums are invested in the insurer's general account. If the policy renews at the end of a specified period of time, the policy premium will be Which of the following applies when an insured wishes to convert industrial insurance policies for an ordinary policy? B) Straight Life One is a manufacturer, Rayzer Skis Mfg., and the other, Sunrise Foods, is a grocery distribution company. Beneficiary During what period is a new life insurance policyowner entitled to review a policy and return it for a full refund? Jenny Han Husband, Which of the following is NOT an operating goal of an insurer? A dose friend is starting a new landscaping business around an inland lake used by summer vacationers. All of the following statements about a participating policy are correct EXCEPT: (A) premiums may be higher than those for a nonparticipating policy(B) the surrender values are generally the same as a nonparticipating policy(C) policy dividends may be paid in cash(D) policy dividends paid in cash are taxable, (D) policy dividends paid in cash are taxable. The policyowner of an adjustable life policy wants to increase the death benefit. The annuity premium is invested in securities. B Upon the last death 19) The cost of electricity used in the production of multiple products would be classified as a indirect cost. D The insured may only convert the policy to another term policy. A) The insurance company keeps a percentage of the returns At Frito-Lay's factory in Casa Grande, Arizona, more than 500,000 pounds of potatoes arrive every day to be washed, sliced, fried, seasoned, and portioned into bags of Lay's and Ruffles chips. C Minimum deposit whole life D)The cash value is not guaranteed. In which of the following scenarios will the rider waive the payment of premium? Which of the following statements is true? A) The contract pays only in the event of death during the term and there is no cash value 14) The same cost may be direct for one cost object and indirect for another cost object. B Variable life A It insures the life of a creditor. Concerning Juvenile Life insurance, which of the following statements is INCORRECT? A) The insurance company keeps a percentage of the returns D) All Fixed Annuities are Deferred Annuities. B) The death benefit cannot be increased C) Decreasing premium D $200,000. 247 Games Bridge, Annuity mortality tables reflect a greater life expectancy than do life insurance tables, and annuities are sold to give a greater income at an older age, whereas life insurance is sold to create an immediate income in the case of premature death. A Securities B) If the annuitant dies after receiving 12 monthly income payments. Which of the following life insurance policies does NOT build cash value? All of the following are true about variable products EXCEPT A)Policyowners bear the investment risk. D Survivorship Universal Life. A The contract pays only in the event of death during the term and there is no cash value. What type of life insurance policy would be best suited to this situation? A discrete random variable has a countable number of possible values. Which of the following rules would apply if an agent knows an applicant is going to cash in an old policy and use the funds to purchase new insurance? D) Renewable Term to Age 70, A man decided to purchase a $100,000 Annually Renewable Term Life policy to provide additional protection until his children finished college. C Juvenile Life is classified as any life insurance written on the life of a minor. C Federal government. Which of the following life insurance policies allows a policyowner to take out a loan from the policy's cash value? All of the following are inventoried under variable costing except: A. direct materials. A Variable whole life allows policy loans from the cash value. Which of the following statements is correct regarding this change? 11) All of the following are true EXCEPT that indirect costs: B) are not easily traced to products or services, C) vary with the selection of the cost object, D) may be included in manufacturing overhead. B Policyowner A Adjustable Life Maryland Basketball Recruiting Crystal Ball 2020, A Allows any income the children make to be included in coverage. An insured purchased a Life Insurance policy. While you can't use Python keywords as variable names, you are allowed to do it with Python built-ins though it's considered a bad practice so I will recommend to avoid it. B Creditor is the insured. B) The policy's guarantees A) A direct cost of one cost object cannot be an indirect cost of another cost object. While these multiyear initiatives are expensive, they have the backing at the highest levels of Frito-Lay as well as corporate executives at PepsiCo, the parent company. B A money market account. A) Both are considered to be more risky than variable annuities A The coverage period B) It usually develops cash value by the end of the third policy year B) They have guaranteed minimum interest rates C) A level premium for the life of the insured D) must begin distribution no later than age 59 1/2 or suffer a 10% penalty. What would be the right policy for this client? C Covers children for free. Under a 20-pay whole life policy, in order for the policy to pay the death benefit to a beneficiary, the premiums must be paid When the insured renews the policy in 5 years, what will happen to the premium? B Survivorship Policy If the father becomes disabled, what will happen to the life insurance premiums? B Half the amount. All of the following entities regulate variable life policies EXCEPT D Automatic premium loan. Kindly login to access the content at no cost. Which of the following is CORRECT about the replacement rule? Recognizing the environmental impact, the firm is an aggressive "green manufacturer," with major initiatives in resource reduction and sustainability. - bruno desthuilliers Sep 25, 2015 at 10:07 Add a comment 3 Answers Sorted by: 11 All of the following policies could be offered as variable policies, EXCEPT: All of the following are guaranteed features in a variable life insurance policy, EXCEPT: Which of the following policies allows the policyowner to buy term and direct the investments made in the cash value account? annuities. (A) the coverage includes an annual renewable term policy(B) there are no restrictions on it as far as receiving favorable tax treatment(C) there can be a flexible premium and an adjustable benefit(D) the accumulations in the policy grow on a tax-sheltered basis A (B) there are no restrictions on it as far as receiving favorable tax treatment 15 Q C) they are zero if output is zero. keyword. Which statement is NOT true regarding a Straight Life policy? D) Business Corporations may use annuities to provide pensions for employees, either nonqualified or qualified plans, or to structure payments of liability settlements. Variable costs are the sum of the costs paid for all inputs. C) Life Paid-up at Age 65 Accounting Cycle and Classifying Accounts, Adjusting Accounts for Financial Statements, Asset Demand and Supply under Uncertainty, Business Analytics & Technology Management Chapter 2, Business Analytics & Technology Management Chapter 3, Business Analytics & Technology Management Chapter 4, Business Analytics & Technology Management Chapter 5, Business Analytics & Technology Management Chapter 6, Capital Budgeting and Managerial Decisions, Derivative Instruments and Hedging Activities, External Financial Statements and Revenue Recognition, Financial Intermediaries and Financial Markets, Financial Markets and Securities Offerings, Financial Statements and Accounting Transactions, Integrated Marketing Communications and Direct Marketing, Interactive Marketing and Electronic Commerce, Interpersonal and Organizational Communication, Introduction to Human Resource Management, Introduction to Human Resources Assessment, Managerial Accounting Concepts and Principles, Market Segmentation Targeting and Positioning, Organization and Operation of Corporations, Organizational Markets and Buyer Behaviour, Profitability Analysis and Analytical Issues, Profitability Analysis and Decentralization, Reporting and Analyzing Long Lived Assets, Responsibility Accounting and Performance Measures, Understanding Interest Rates Determinants, All of the following are parties to a life insurance contract EXCEPT: The beneficiary received the balance of the cost of the contract because it was a refund life annuity. How much will his wife receive from the policy? Which of the following is NOT considered to be an element of replacement? D) Seek higher returns, An individual has just borrowed $10,000 from his bank of a 5-year installment loan requiring monthly payments. A Continue to increase. C) The period of time from the effective date of the contract to the date of its termination B The premiums will become tax deductible until the insured's 18th birthday. C Graded All of the following are true about variable annuities except. 18) The materiality of the cost is a factor in classifying the cost as a direct or indirect cost. B The mortality expense Has Microsoft lowered its Windows 11 eligibility criteria. D When the insured reaches age 100. Which policy would you recommend to him? C) When the annuitant dies before receiving any annuity payments. D Variable universal life is regulated solely through FINRA. b. a new system of accounting for capital depreciation. B The insured may renew the policy for another 10 years, but at a higher premium rate. A A revenue account. C The death benefit cannot be increased. A father owns a life insurance policy on his 15-year-old daughter. B Increasing Term A) When a contract is surrendered, any surrender charges reduce the contract payout. Frito-Lay is installing high-tech filters that recycle most of the water used to rinse and wash potatoes. A Decreasing Cookie Policy This website uses cookies to ensure you get the best experience on our website. Which of the following is a requirement that a professional association must meet to obtain group insurance? B Enhanced whole life B) Credit Life B) The annuitant B. direct labor. A) During this of time the annuity payments grow interest tax deferred A continuous random variable takes on all the values in some interval of numbers. C)The minimum death benefit is guaranteed. But even environmentally friendly snacks require resources. Which of the following are advantages of allowing qualified producers to handle certain B)The premiums are invested in the insurer's general account. III. Gradually increases each year by the amount that the cash value increases. C Discounted. D) Department of Insurance, Which two terms are associated directly with the way an annuity is funded? B Jumping juvenile policy C Equity indexed life A) Death benefit The goal is zero waste to landfills. C) FINRA 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. B It can be a limited premium payment policy. @NightShadeQueen Thanks for the info. A) Level Term Life In Maths, a variable is an alphabet or time period that represents an unknown number or unknown value, or unknown quantity. Ex.) 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