Which of the following is an example of a producer being involved in an unfair trade practice of rebating?

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Which of the following is an example of a producer being involved in an unfair trade practice of rebating?

a) Making deceptive statements about a competitor
b) Telling a client that his first premium will be waived if he purchased the insurance policy today
c) Inducing the insured to drop a policy in favor of another one when it's not in the insured's best interest
d) Charging a client a higher premium for the same policy as another client in the same insuring class

Answer: b) Telling a client that his first premium will be waived if he purchased the insurance policy today

Life Insurance

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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The insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. It was determined that the accident was his fault. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. In this case, what will the policy beneficiary receive?

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The voluntary relinquishment of a legal right is called
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