A power of attorney used in a real estate transaction is generally recorded at the same time as the deed and/or deed of trust.

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A power of attorney used in a real estate transaction is generally recorded at the same time as the deed and/or deed of trust.

A. True
B. False

Answer: A.True

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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

In insurance,

In insurance, A) contracts made by the agent are considered to be contracts of the producer B) contracts made by the principal are considered to be contracts of the agent C) the insurer is the principal and the producer is the agent D) the producer is the principal and the insurer is the agent Answer: the insurer is the principal and the producer is the agent

Which is generally true regarding insureds who have been classified as preferred risks

Which is generally true regarding insureds who have been classified as preferred risks A) They can borrow higher amounts off of their policies. B) They can decide when to pay their monthly premiums. C) They keep a higher percentage of any interest earned on their policies. D) Their premiums are lower. Answer: Their premiums are lower

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A domestic insurer issuing variable contracts must establish one or more
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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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Under an extended term nonforfeiture option, the policy cash value is converted to
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The pro rata liability clause is designed to protect the principle of
The two major actions required for a policyholder to comply with the Reinstatement Clause are
Life insurance policies will normally pay for losses arising from
Which of the following statements regarding the taxation of Modified Endowment Contracts is FALSE
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In an insurance contract, the applicant's "consideration" is the
Agents may be found guilty of defamation if they make a false statement that is intended to?
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
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A securities license is required for a life insurance producer to sell
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?
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Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death?
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Items stipulated in the contract that the insurer will not provide coverage for are found in the
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The paid-up addition option uses the dividend
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The requirement that agents not commingle insurance monies with their own funds is known as
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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 purpose of establishing the target premium for a universal life policy?
What is the other term for the cash payment settlement option?
Circulating deceptive sales material to the public is what type of Unfair Trade Practice?
Insurance represents the process of risk
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What is the purpose of establishing the target premium for a universal life policy?
Which of the following is NOT true regarding the accumulation period of an annuity?
Group health plans may deny participation based upon the
In insurance, an offer is usually made when
Which of the following is true regarding a market value adjusted annuity?
What is the other term for the cash payment settlement option?
What documentation grants express authority to an agent?

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