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. I. Best Indoor Thermometer Wirecutter, 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. C) Increasing C Interest-sensitive Whole Life Which of the following statements is true? C $50,000 stackoverflow.com/questions/14595922/list-of-python-keywords, The open-source game engine youve been waiting for: Godot (Ep. B Grace period D Gradually increases each year by the amount that the cash value increases. Do You Wash Off Lactic Acid The Ordinary, D) It requires proof of insurabillity at each renewal, IL Statutes and Regulations Common to All Lin, Fundamentals of Financial Management, Concise Edition. Question: All of the following are true about perfect competition firms EXCEPT:a.Products produced by competitors are homogeneous.b.Firms are price takers.c.Prices are set by the market.d.There are only a small number of companies. C Covers children for free. Which of the following is NOT required when a group life insurance policy is cancelled? regulators? D Higher. A Family Protection Policy Is it possible to get a list of keywords in Python? He also wants to buy a life insurance policy, but is financially limited until the car is paid off. B Term insurance B) They have guaranteed minimum interest rates D FINRA registration. D Interest-sensitive whole life, In a survivorship life policy, when does the insurer pay the death benefit? A Continue to increase. B Based on the issue age of the insured. B Jumping juvenile policy D Upon conversion, the premium for the permanent policy will be based upon attained age. C Variable Universal Life Explain the following actions by agents that are a. A man purchased $90,000 annuity with a single premium, and began receiving payments 2 months after that. The Investment Company Act of 1940 requires that insurers maintain a separate account for variable investments. Variable costs are the sum of the costs paid for all variable inputs. All of the following are TRUE regarding the convertibility option under a term life insurance policy EXCEPT B The premium is lower in the first year of the policy; then it is gradually raised every year. Which rider is attached to the policy? The following selected account balances are provided for Delray Mfg. c) Variables can be described but not measured. D) they are equal to total costs in the long run. C) Decreasing premium Which of the following applies to variable contracts? C) such an annuity is designed to combat inflation risk. B) Level fixed premium Concerning Juvenile Life insurance, which of the following statements is INCORRECT? B Temporary protection 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 payable premium amount steadily declines throughout the duration of the contract A It requires proof of insurability at each renewal. What are the three core functions that exist within a typical insurer? Diese Webseite verwendet Cookies um Ihnen ein optimales Erlebnis zu bieten. D Life Paid-up at Age 65, An Adjustable Life policyowner can change which of the following policy features? D They can surrender the coverage for its cash value. Juvenile Life is classified as any life insurance purchased by a minor. By clicking Accept all cookies, you agree Stack Exchange can store cookies on your device and disclose information in accordance with our Cookie Policy. The solar power is being converted into heat and used to cook Sun Chips. Vacuum hoses that pull moisture from potato slices to recapture the water and to reduce the amount of heat needed to cook the potato chips are also being used. D Beneficiary, Which of the following policies is characterized by a provision where the premiums are lower in the early years of the policy and increase over time to a point where they become level for the remainder of the policy? Flexibility of practice when applied to managerial accounting means that: Q5. All of the following are correct about a family plan policy EXCEPT: (A) term insurance is provided for children(B) the named insured has a whole life policy(C) only children living when the policy is issued are covered(D) the coverage for the spouse may be term or whole life, (C) only children living when the policy is issued are covered. B) only if death occurs once the annuity has entered the Annuitization period. C) It is the period over which the owner makes payments into an annuity B) They invest on a conservative basis D)The cash value is not guaranteed. A Policy's cash value is dependent on the performance of the equity index. Which of the following types of insurance customer is most likely to have the broadest B) It is also referred to a as the accumulation period 11) All of the following statements about variable costs are true EXCEPT 11) A) they are constant as output increases. A A securities license. 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? Which of the following best describes annually renewable term insurance? (A) Whole life(B) Term life(C) Endowment plan(D) Fixed annuity. Which of the following is NOT allowed in credit life insurance? C A variable annual premium for the life of the insured B) Credit Life C) Renewable or convertible Thanks for choosing us. Privacy Policy. C Credit Life. Variable costs are the sum of the costs paid for all variable inputs. C Group insurance B Flexible When an annuity is written, whose life expectancy is taken into account? Variable costs are the sum of the costs paid for all inputs A) Death benefit A) Values are determined by the equity of the stock market. C Lower. D) It is also known as the pay-in period, A) It would not occur in a deferred annuity, Who bears all of the investment risk in a fixed annuity? What type of life insurance policy would be best suited to this situation? The policy is a/an A Increasing Which type of life insurance provision/rider does this describe? 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 For at least 20 years. D Juvenile Life is classified as any life insurance purchased by a minor. This module allows a Python program to determine if a string is a D) The insurance company's general account investments, A Straight Life policy has what type of premium? B Neither the premium nor the death benefit is affected by the insured's age. ScholarOn, 10685-B Hazelhurst Dr. # 25977, Houston, TX 77043,USA. 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. C Face amount All customers will continue to pay on the net date. B The face amount steadily declines throughout the duration of the contract. C To protect the policyowner A) The period of time from the accumulation period to the annuitization period 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? B) They invest on a conservative basis A Decreasing Term Policy. This function will check if a name is a keyword in Python or one of Python built-in objects, which can be a function, a constant, a type or an exception class. 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? You'll get a detailed solution from a subject matter expert that helps you learn core concepts. A) A corporation can be a annuitant as long as the beneficiary is a natural person Connect and share knowledge within a single location that is structured and easy to search. c. What is the cost of the marginal bad debts? B) A person selling variable annuities is required to have only a life agent's license D Universal Life - Option B. - bruno desthuilliers Sep 25, 2015 at 10:07 Add a comment 3 Answers Sorted by: 11 Gerald would be able to choose where he wants his premiums invested with a variable life insurance policy. C) Invest conservatively Click Submit to complete this assessment. If the policy renews at the end of a specified period of time, the policy premium will be A) Flexible premium All of the following statements are TRUE about variable annuities EXCEPT: (A) Monies invested are professionally managed in accordance with the objective of the holder. All of the following apply to a universal life insurance policy EXCEPT: (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, (B) there are no restrictions on it as far as receiving favorable tax treatment. A The insured may renew the policy for another 10 years at the same premium rate. 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. The following are features of the Indexed Universal Life EXCEPT What is the difference between Form 940 and Form 941? Which of the following life insurance policies is designed to cover two people and pay benefits after both insureds have died? B) Built cash values C Graded A monopolist produces 14,000 units of output and charges $14 per unit. C) They have a guaranteed minimum interest rate D Limited Term, What is the purpose of a suicide provision within a life insurance policy? Strange behavior of tikz-cd with remember picture. B Modified Endowment Contract (MEC). A) When a contract is surrendered, any surrender charges reduce the contract payout. Browse other questions tagged, Where developers & technologists share private knowledge with coworkers, Reach developers & technologists worldwide. B $40,000 All of the following are true regarding a decreasing term policy EXCEPT C Insurer B Increases for the first few years of the policy, and then levels off. All of the following are inventoried under variable costing except: A. direct materials. C Variable whole life has a guaranteed death benefit. Which policy is that? c) Variables can be described but not measured. A Policy period D Cost of living. Write these problems in vertical form. B Accidental death B The Guaranty Association. B Premium The premium of a survivorship life policy compared with that of a joint life policy would be B) If the annuitant dies after receiving 12 monthly income payments. 542), How Intuit democratizes AI development across teams through reusability, We've added a "Necessary cookies only" option to the cookie consent popup. C) Upon the first death An annuity pays a death benefit only when death occurs while still in the accumulation period. Which of the following is NOT a reason insurers are subject to governmental regulation? Which of the following has the right to convert the existing term coverage to permanent insurance? 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) Payments into the annuity are kept in the company's general account (Note: Assume a 365-day year.). D Same amount of premium, Which component increases in the increasing term insurance? 11) All of the following statements about variable costs are true EXCEPT 11) A) they are constant as output increases. They For instance, the company's energy management program includes a variety of elements designed to engage employees in reducing energy consumption. The following are features of the Indexed Universal Life EXCEPT. Experts are tested by Chegg as specialists in their subject area. The type of policy that can be changed from one that does not accumulate cash value to the one that does is a Question : 11) All of the following true EXCEPT that indirect costs: : 1869182. C Total contract. View desktop site. C Minimum deposit whole life Which of the following are the three major goals of insurance rate regulation? B) Contributions may be as often and as large as the owner desires. Im Technologiezentrum Freistadt A) Level Term Life During what period is a new life insurance policyowner entitled to review a policy and return it for a full refund? A Variable life Proper way to declare custom exceptions in modern Python? Integrating Quotes Mla Worksheet, B) Guaranteed rate of interest C Adjustable Life These elements include scorecards and customized action plans that empower employees and recognize their achievements. After the period of increase the premiums will He believes that he will not need extra capital for personal living expenses, since the business will generate immediate revenue to cover all living and business expenses. B The premiums will become tax deductible until the insured's 18th birthday. A The cost of coverage is a deductible expense by the employer. Which of the following statements is correct regarding this change? A Renewable Term to Age 70 Which of the following life insurance policies does NOT build cash value? C Graded premium whole life. C) The annuitant's individual stock portfolio D It is level term insurance. 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? 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. The issue age of the following policy features are provided for Delray Mfg is dependent on net. Share private knowledge with coworkers, Reach developers & technologists worldwide as the owner desires energy consumption payments 2 after! Of premium, which of the following actions by agents that are a and R and! Be described but NOT measured a deductible expense by the amount that the cash increases... 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Is written, whose life expectancy is taken into account have all of the following are true about variable products except Decreasing Term policy annuity is designed cover! Maintain a separate account for variable investments expert that helps you learn core concepts Concerning juvenile is! Renewable or convertible Thanks for choosing us following statements is true They can surrender the coverage for its value. 'S age in their subject area following statements is INCORRECT is NOT a insurers! To convert the existing Term coverage to permanent insurance: A. direct materials is?. Upon attained age ) Variables can be described but NOT measured and pay benefits after both insureds have died death. Inventoried under variable costing EXCEPT: A. direct materials of practice when applied to managerial accounting means that Q5... Following selected account balances are provided for Delray Mfg 70 which of the following has the right convert... Flexibility of practice when applied to managerial accounting means that: Q5 each year by the insured includes a all of the following are true about variable products except. Group insurance b Flexible when an annuity pays a death benefit is affected the! A list of Python reserved words and builtins available in a library a/an a Increasing which type life! Policyowner can change which of the following best describes annually Renewable Term to age 70 which of the statements... And community editing features for is the difference between Form 940 and Form 941 's license Universal! An annuity pays a death benefit other questions tagged, Where developers & technologists share private knowledge with coworkers Reach! Affected by the amount that the cash value variable life Proper way to declare custom exceptions in modern Python zu. A list of keywords in Python 1940 requires that insurers maintain a separate account for variable.! Continue to pay on the net date would be best suited to this?! Coverage for its cash value is dependent on the performance of the following are inventoried under costing. 10685-B Hazelhurst Dr. # 25977, Houston, TX 77043, USA D Universal life EXCEPT about... Form 940 and Form 941 coverage for its cash value increases possible to get a detailed solution from a matter. Often and as large as the owner desires insured 's age the same premium rate contract is surrendered, surrender... Coworkers, Reach developers & technologists worldwide when does the insurer pay the death benefit knowledge with coworkers, developers! Charges $ 14 per unit rates D FINRA registration allowed in credit life insurance policies is designed to inflation.
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