An agent is acting ethically in all the of following situations EXCEPT

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An agent is acting ethically in all the of following situations EXCEPT

a. working within the conditions of his/her contract
b. representing the insurer, not the insured
c. keeping customers' best interests in mind
d. always representing the insured

Answer: d

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

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?

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The voluntary relinquishment of a legal right is called
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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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Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called
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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
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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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