All of the following are shown on an insurer's income statement, EXCEPT

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All of the following are shown on an insurer's income statement, EXCEPT

A. Net underwriting gain (loss)
B. Net investment income
C. Unearned premium reserve
D. Net income

Answer: C.The unearned premium reserve is shown on an insurer's balance sheet. Net underwriting gain (loss), net investment income, and net income are shown on an insurer's income statement

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

Jim has been arrested for drunk driving. In order to be allowed out of jail before his court date, Jim will most likely need:

Jim has been arrested for drunk driving. In order to be allowed out of jail before his court date, Jim will most likely need: Answer: A bail bond Jim will most likely need to post bail to be allowed out of jail before his court date. Bail is a set amount of money an arrested individual must pay the court to guarantee they will appear for their scheduled hearings and trial dates. By posting bail, Jim can secure his release from jail pending his court appearances. There are several options for posting bail: Cash Bail : Jim or someone on his behalf can pay the total bail amount in cash directly to the court. Once the case is resolved, the bail money is returned minus any fees or fines imposed by the court. Bail Bond : If Jim or his family cannot afford to pay the full bail amount, they may use a bail bond service. A bail bondsman typically charges a non-refundable fee, usually a percentage of the total bail amount, in exchange for posting the full bail amount on Jim's behalf. Th...

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?

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? a) The original face amount will be paid to the beneficiary b) The policy will be voided with no death benefits paid c) The death benefit paid will be what the premium would have purchased at the correct age d) The amount of premiums paid will be returned with interest Answer: c) The death benefit paid will be what the premium would have purchased at the correct age

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All of the following are considered limited lines of authority EXCEPT
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The pro rata liability clause is designed to protect the principle of
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Fixed annuities provide each of the following EXCEPT
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A domestic insurer issuing variable contracts must establish one or more
All of the following statements concerning the use of life insurance as an Executive Bonus are correct EXCEPT
All of these statements about the Waiver of Premium provision are correct EXCEPT
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A beneficiary change can occur
No existing agent's license will be revoked until
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A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a(n)
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The pro rata liability clause is designed to protect the principle of
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In an insurance contract, the applicant's "consideration" is the
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How many pair of glasses in a 12-month period will a vision expense insurance plan cover?
The voluntary relinquishment of a legal right is called
What documentation grants express authority to an agent?
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All of the following statements are true regarding installments for a fixed amount EXCEPT
Fraternal Benefit Society has each of the following characteristics EXCEPT
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Which nonforfeiture option provides coverage for the longest period of time?
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Which of the following statements about accumulated interest earned on dividends from an insurance policy is TRUE?
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All of the following are true regarding a decreasing term policy EXCEPT
Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called
Health insurance will typically cover which of the following perils?
Simon has purchased a fixed immediate annuity. His payment amount will be dependent upon principal, interest, and the contract's
Insurable interest does NOT occur in which of the following relationships?
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The authority granted to a licensed producer is provided via the
All of the following are examples of a Business Continuation Plan EXCEPT
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All of the following entities regulate variable life policies EXCEPT
The pro rata liability clause is designed to protect the principle of
When the principal gives the agent authority in writing, it's referred to as
What is the benefit of choosing extended term as a nonforfeiture option?
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Life income joint and survivor settlement option guarantees
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The requirement that agents not commingle insurance monies with their own funds is known as
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What is the other term for the cash payment settlement option?
What documentation grants express authority to an agent?

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