A Rebating. What would be the face amount of the new term policy? When is the earliest a policy may go into effect? C Sharing commission with the insured What brand of castor oil is best for hair? A Payment of restitution Which type of life insurance policy allows the policyowner to pay more or less than the planned premium? f. Get an answer. D Coercion. NAIC. Rules of replacement apply to all of the following: An insurer must present a buyers guide and policy summary prior to accepting the applicant's initial premium, unless the policy contains an unconditional refund provision lasting at least how many days? A licensee must inform the Commissioner of a change of legal name or address within 30 days of the change. He never remarried and dies at age 61, leaving 2 grown-up children. How are contributions to a tax-sheltered annuity treated with regards to taxation? B$1,000 If an individual licensee's violation of the entrance code was known or should have been down by one or more of the partners, officers, or managers of the agency, what could happen to agency? Within what time period after completing prelicensing education must an applicant file a certificate of education completion with the Commissioner? Who is the main purpose of the seven-pay test? An employer has sponsored a qualified retirement plan for its employees where the employees where the employer will contribute money wherever a profit is realized. Under a variable annuity, the issuing insurance company does not guarantee a minimum interest rate or the benefit payment amounts. Issuing or circulating any sales material that is false or misleading would be considered misrepresentation and is illegal. The requirement that an agent not co-mingle insurance monies with their own fund is known as? A. D What relationship is not an example of insurable interest? All of the following would be considered to be rebating EXCEPT A) An agent offers to share his commission with a policyholder B) An agent offers tickets to a baseball game as an inducement to buy insurance C) An agent uses misrepresentation to convince a person to cancel an existing policy and take a new policy from him B An offer to share in commissions generated by the sale. Who is personally liable for all contracts of insurance unlawfully made with in Tennessee on behalf of an unauthorized insurer? Defamation is making statements that are false as to the financial condition of any insurer and which are calculated to injure any person engaged in the business of insurance. What is true regarding taxation of accelerated benefits under life insurance policy? Once the policyholder opts for cash surrender, the policy is immediately inactive. C Policyowner rights and disclosures. All riders that will cause the death benefit to increase? Flashcards - WA Common Law Practice Exam - FreezingBlue D Collecting a lower premium than what's specified in a policy as a token of client appreciation. When an employee terminates coverage under group insurance policy, coverage continues in force for how long? What information will be stated in the consideration clause of a life insurance policy? If you insurance company makes a statement that it's policies are guaranteed by the existence of the Insurance Guaranty Association, that would be considered? What is this called? Upon policy reinstatement to pay all overdue premiums with interest before the policy is reinstated, The policyowner may assign a part of the policy (collateral assignment) or the entire policy (absolute assignment), Regarding the free-look provision, the insurance company.

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