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? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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James is the insured on a life insurance policy where his age was misstated on the application. Which of the following is CORRECT regarding the death benefit amount?

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