A Universal life This E-mail is already registered as a Premium Member with us. B just bought a new car, which he anticipates will be paid for 4 years from now. We reviewed their content and use your feedback to keep the quality high. Its premium steadily decreases over time, in response to its growing cash value. But even environmentally friendly snacks require resources. D Allowable amount of coverage is determined by the State Insurance Commissioner. An insured purchased a 10-year level term life policy that is guaranteed renewable and convertible. Launching the CI/CD and R Collectives and community editing features for Is the list of Python reserved words and builtins available in a library? The payable premium amount steadily declines throughout the duration of the contract. D Be level thereafter. C The investment account B) Credit Life A Nothing C) Whole life Stolen Youth Vinyl, D) of a specified fixed amount to the annuitant or beneficiary until all proceeds have been exhausted. Variable life insurance policies involve all of the following EXCEPT: (A) an approach to counter the effects of inflation(B) compliance with the Securities and Exchange Commission(C) benefits that vary with investment experience(D) a traditional approach to term life insurance, (D) a traditional approach to term life insurance. B Variable option C) When the annuitant dies before receiving any annuity payments. One is a manufacturer, Rayzer Skis Mfg., and the other, Sunrise Foods, is a grocery distribution company. Answer: D LO: 1 Type: RC. A Survivorship life D The insured may only convert the policy to another term policy. C Minimum deposit whole life What would be the right policy for this client? The policy is a/an Has China expressed the desire to claim Outer Manchuria recently? A Securities Which type of life insurance provision/rider does this describe? A) Required a premium increase each renewal How do I check if a variable is an array in JavaScript? C Variable whole life has a guaranteed death benefit. 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 B Variable universal life has a fixed premium. D) The insurance company keeps a percentage of the returns, C) They earn lower interest rates than fixed annuities, Which of the following is TRUE for both equity indexed annuities and fixed annuities? The probability of each value of a discrete random variable is between 0 and 1, and the sum of all the probabilities is equal to 1. A Usually a parent or guardian is the applicant for insurance on the life of a minor. 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. (C) The minimum death benefit is guaranteed. B) Benefit payment amounts are not guaranteed How to derive the state of a qubit after a partial measurement? B Accidental death A) Are more risky than variable annuities What happens at the end of the 10-year term? B Temporary protection D The insured will have to pay premiums for 6 months. E. items "C" and "D" above. Which of the following is the primary reason insurer solvency is monitored by C Adjustable Life Frito-Lay is installing high-tech filters that recycle most of the water used to rinse and wash potatoes. 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) Level, Which of the following is NOT true regarding Equity Indexed Annuities? A Complete contract. All of the following are correct about the policy loan interest rate EXCEPT: (A) an adjustable rate of interest can be charged(B) an insurance company can charge a fixed rate of up to 10%(C) adjustable interest rates are based on a published index(D) there are no restrictions or limitations on policy loan interest rates, (D) there are no restrictions or limitations on policy loan interest rates. B It has a maximum term of 20 years. B The value of insurance will be deducted from the employees' compensation. A continuous random variable takes on all the values in some interval of numbers. (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 The premium is level throughout the life of the policy. D Decreasing Term, If an agent wishes to sell variable life policies, what license must the agent obtain? C The payable premium amount steadily declines throughout the duration of the contract. D Renewable Term Policy. A Limited Pay More fuel-efficient ovens recapture heat from exhaust stacks. The Dreamers Google Drive, Recognizing the environmental impact, the firm is an aggressive "green manufacturer," with major initiatives in resource reduction and sustainability. D Joint life, A Straight Life policy has what type of premium? Variable costs are the sum of the costs paid for all inputs. C Federal government. B Grace period B Renewable Click Submit to complete this assessment. Which policy is that? A biomass boiler, which will burn agricultural waste, is also planned to provide additional renewable fuel. A Adjustable Life. What problems can you foresee and what advice would you give to your friend? All of the following are true about variable products EXCEPT A)Policyowners bear the investment risk. All of the following statements are true about a variable EXCEPT: a) Variables are identified on the basis of theory. The company, for example, advertises that its popular Sun Chips snacks are made using solar energy. D The death benefit is $0 at the end of the policy term. Scientists try to figure out how the natural world works.To do this they use experiments to search for cause and effect relationships. Anytime, anywhere. Im Technologiezentrum Freistadt 247 Games Bridge, D Continuous Premium. D) Have a level number of annuity units with the unit value fluctuating. D Variable universal life is regulated solely through FINRA. Installments will fluctuate with the market value of securities. They can convert their coverage to permanent life insurance without evidence of insurability. Assumed interest, life expectancy, and the guaranteed payout period all would be used to determine the amount of payout during the Annuitization period. A Indeterminate premium whole life A Single premium policy He discovered that this policy Indirect costs include all of the following except: International Financial Reporting Standards. View desktop site. B) They are less risky than variable annuities They know it will take several years to build the business to the point that they can pay off the debt incurred in starting the business. D Allows the spouse extra coverage for every child covered. a. designing a product and then determining the cost of producing it. A Increasing 1. B) Federal government B $40,000 The agent told him that depending upon the company's investments and expense factors, the cash values could change from those shown in the policy at issue time. 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. D Universal Life - Option B. C) such an annuity is designed to combat inflation risk. 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 B) Universal life B) They invest on a conservative basis Coming new to a python 3.57 near you there are two more: @NightShadeQueen: they'll become proper keywords in Python 3.7. D Single premium whole life. 17) Misallocated indirect costs may lead to NOT promoting profitability. All of the following are true about variable products EXCEPT. 14) The same cost may be direct for one cost object and indirect for another cost object. 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. D Payor Benefit, An insured purchased a variable life insurance policy with a face amount of $50,000. III. Which of the following applies when an insured wishes to convert industrial insurance policies for an ordinary policy? D Individual insurance. A Policy period C Debtor is the policy beneficiary. Privacy Policy. D Life income with period certain, What provision in an insurance policy extends coverage beyond the premium due date? C)The minimum death benefit is guaranteed. 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? D The performance of the policy portfolio, Which of the following would be the beneficiary in credit life insurance? C) they are zero if output is zero. Which of the following best describes annually renewable term insurance? B Adjuster 19) The cost of electricity used in the production of multiple products would be classified as a indirect cost. This module allows a Python program to determine if a string is a B Payor Benefit Rider Owner A $10,000 A man decided to purchase a $100,000 Annually Renewable Term Life policy to provide additional protection until his children finished college. A Modified Endowment Contract (MEC). B) The death benefit cannot be increased Which of the following life insurance policies is designed to cover two people and pay benefits after both insureds have died? A) Level Term Life All of the following statements regarding budgeting is true except: a. A) The company's general account 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 must be spelled exactly as written here: So, you cannot use any of the above identifiers as a variable name. A The amount of insurance. Direct labor, factory repairs and maintenance, wages payable. An insured buys a 5-year level premium term policy with a face amount of $10,000. Both life insurance and annuities utilize mortality tables and the pooling technique actuarially in spreading the risk to better predict life expectancy. Explain the following actions by agents that are a. Required a premium increase each renewal. 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. That's a good point, thanks @AndreaCorbellini. A Waiver of premium The firm has a required rate of return on equal-risk investments of 20%. D) It requires proof of insurabillity at each renewal, IL Statutes and Regulations Common to All Lin, Fundamentals of Financial Management, Concise Edition. A) Upon conversion, the death benefit of the permanent policy will be reduced by 50% Kindly login to access the content at no cost. B. direct labor. A It requires proof of insurability at each renewal. D Decreasing term. Which of the following is TRUE regarding the insurance amount in a credit life policy? A Upon conversion, the death benefit of the permanent policy will be reduced by 50%. 0 A. O B. When the insured dies, the insurer pays the remaining balance on his home loan. Take the quiz test your understanding of the key concepts covered in the chapter. C The cost of coverage paid by the employer is taxed to the employees. Mhgu Ancient Bow, C Family Income Policy C Since it is the policyowner, and not the insured, who has become disabled, the life insurance policy will not be affected. B A life insurance license. D) The Insurance Department, An insured purchased a Life Insurance policy, The agent told him that depending upon the company's investments and expense factors, the cash values could change from those shown in the policy at issue time. C Juvenile life C Limited pay whole life policy Flexibility of practice when applied to managerial accounting means that: Q5. If at the end of this period the father is still disabled, the insured will be refunded the premiums. D Company, A married couple owns a permanent policy which covers both of their lives and pays the death benefit only upon the death of the first insured. D Higher. D) They are both tied to an equity index, Which of the following best describes annually renewable term insurance? Which of the following are the three major goals of insurance rate regulation? What's the difference between a power rail and a signal line? B) Guaranteed rate of interest All of the following are true about variable annuities except. B Surplus Lines All of the following are true about variable products except? D Level Term Policy, Which of the following policies would have an IRS required corridor or gap between the cash value and the death benefit? D Joint Life Policy. In a manufacturing organization, material costs are considered. Try testing yourself before you read the chapter to see where your strengths and weaknesses are, then test yourself again once you've read the chapter to see how well you've understood. D Cash value. d) Variables take on different values across participants. Q1. 11) All of the following are true EXCEPT that indirect costs: A) may be included in prime 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 The Securities Act of 1933 defines a securities product. B A decreasing annual premium for the life of the insured The annuity premium is invested in securities. C Level Term The type of policy that can be changed from one that does not accumulate cash value to the one that does is a, All other factors being equal, the least expensive first year premium payment is found in, 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, A) For 20 years or until death, whichever occurs first, To sell variable life insurance policies, an agent must receive all of the following except. D Cost of living. The type of policy that can be changed from one that does not accumulate cash value to the one that does is a C) The purchase of an annuity helps to protect against out-living your income. A) Flexible premium C Level Which of the following is true? 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