Ga state license practice exam (20)

3326 J requests insurance on a neighbor's home in his own name. The insurance producer explains that such a policy also would violate the principle of: a. subrogation b. assignment c. warranty d. insurable interest 3330 Which of the following actions represents consideration in an insurance contract? a. paying the premium b. filing a claim c. missing the policy d. endorsing a policy

Certain Accident Benefits limits under O.A.P. 1 Owner's Policy can be increased or extended at the option of the insured. Which one (1) of the following benefits CANNOT be changed?   Death and Funeral Benefits. Income Replacement Benefit. Caregiver Benefit for Catastrophic Injuries. Disability Benefit after Age 65.

12 ASAP...

o D. provinc 1. Social Insurance Numbers beginning with a "9" o A. are issued to permanent residents but not Canadian citizens. B. has an expiry date which is the date of his/her quit or layoff. C. supposed to pay all statutory deductions. o D. all of the above d oncies who share an interest in the function

Nedd correct answer which explanation in deap 19. Delilah participates in her state's long-term care partnership program and purchased an LTCI policy with a $200,000 maximum benefit. At what point would Medicaid assume the role of primary (first) payor for her long-term care services? O a. when Delilah enters a nursing home O b. when the policy's elimination period has expired O c. when the policy has paid $200,000 in benefits O d. Never; a partnership policy guarantees that the insured will never have to rely on Medicaid for long-term care.

X Co. can deduct life insurance premiums paid providing: O the life insurance policy is required as security on a loan from a financial institution O the company paid the life insurance policy within the year O the premium paid is for insurance on the president of X Co O the premium paid is reasonable in terms of cost

Which of the following characteristics is typical of group insurance? A.Each employee receives an individual contract   B.All full-lime employees are eligible for coverage.   C.Employees may automatically enroll for coverage at any time.

With regards to group life insurance, which of the following statements are true? 1. An individual employee does not typically have the freedom to select a specific amount of insurance coverage, but rather the amount of coverage is typically a fixed dollar amount, or a variable amount in relationship to the employee's annual income.2. There is typically a change in the premium rate each year.3. Group insurance is normally a permanent type of insurance policy that provides long-term insurance protection for a significant number of Canadians.4. An employee who participates in a group life insurance plan normally has the opportunity to designate a beneficiary.5. Group life insurance plans typically do not apply age restrictions for participation in the plan.

Pls help ASAP

1 Rachel is applying for a participating whole life insurance policy and is yet to choose a divided payment option. She would like to know about the accumulation option. Which of the following information about the accumulation option is FALSE? eFhHRIhxROZCNVINSZFWWnViblAwQT09 a. O Rachel will be required to make minimum yearly withdrawals from the accumulation account.

Which of the following statements is true regarding a Section 1035 exchange of life insurance policies? Select one 0 А. О в. If Theo enters into a 1035 exchange of his whole life policy for a variable life policy there will be no tax on the exchange and the cost basis will carry over from the old policy to the new policy. Apollo, who has surrendered his universal life policy, can accomplish a 1035 exchange by using the cash surrender value to purchase another life insurance policy within 60 days of surrender. C. Lucas can make a 1035 exchange of a policy on his life for a policy on the life of his spouse. D. Athena can exchange her annuity for a life insurance policy under a Sec. 1035 exchange.

not use ai please

Q.Which of the following statement(s) regarding employer health insurance is (are) TRUE? (check all that apply) A. The (Affordable Care ACt) ACA does not force employers to offer health insurance to their employees. B. An employer with 100 employees is subject to a tax penalty if it offers health insurance, but at least one employee buys a policy from an Exchange and receives a tax credit. C. An employer with 75 employees is eligible to a tax credit if it pays at least 50% of the premiums D. An employer with 25 employees will not be subject to tax penalties if it does not offer health insurance to its employees. E.EAn employer with 20 employees is eligible for a partial tax credit if it offers health insurance to its employees (subject to a maximum for the average annual wages).

Employees who elect additional life insurance coverage (Add Life Ins) pay a fee equal to a percentage of their annual salary. The life insurance premium rate is in cell U5. Employees who do not elect additional life insurance pay nothing. In the Life Insurance Premium column, enter an IF function to calculate the life insurance premiums; use an absolute reference to cell U5 to obtain the life insurance rate and enter 0 for employees who do not elect coverage. All full-time employees over the age of 30 are eligible for the 401(k) benefit. In the 401(k) column, enter the IF and AND functions to calculate the 401(k) benefit as 3 percent of annual salary; use an absolute reference to cell U6 to obtain the 401(k) matching percent rate (3 percent). If the employee is not eligible, enter 0. (HINT: the AND function is used as the logical test in the IF function) All employees with one or more years of service are eligible for a bonus. Pay Grade 1 employees receive $3,000 (cell U2), Pay Grade 2…

Which of the following, when provided by an employer, is a tax-deferred or tax-free benefit for the employee? a. Premiums for private health care plans providing extended health coverage beyond a public plan b. Financial counselling services not connected to re-employment or retirement c. Group term life insurance policy d. A $200 cash gift for the employee's wedding

Use the following information to answer questions 29-31 Danielle has the following personal property and liability coverages in place. No other endorsements are in place. The liability limits meet the minimum requirements of the umbrella insurer. Homeowners 3 Policy Coverage A: $250,000 Coverage B: $25,000 Coverage C: $125,000 Coverage D: $75,000 Coverage E: $300,000 Coverage F: $1,000 Personal Auto Policy Coverage A: 250/500/50 Coverage B: $5,000 Coverage C: 100/300 Personal Umbrella Policy $1,000,000 limit $250 self-insured retention 29. Danielle is driving to the store and runs a stop sign, causing an accident. The other driver is awarded $300,000 in damages as a result of the accident. Covered (by any policy): Yes / No HO3 Amount: $ PAP Amount: $ Umbrella Amount: $ 30. Danielle is hosting a party at her house for her daughter's high school graduation. One of her daughter's friends in attendance slips on the freshly refinished wood floors and is severely injured. The friend sues and…

Question 12: Employees are required to contribute toward the purchase of disability insurance in all 50 states. Answer: А. O True В. O False

Ll.45.

a. Indicate whether the following income sources must be included or may be excluded from gross income and why? Insurance proceeds for loss of finger Prizes Embezzlement proceeds Interest on all savings deposits Child support Interest on Series HH bonds Receipt of alimony by divorced husband - divorce agreement executed in 2018 Income produced from property acquired by gift Gifts and inheritances Scholarship grants for tuition Compensation for injuries or sickness Interest income on bonds issued by State of Ohio Life insurance proceeds from a group plan

Mulitple choice question   When are liabilities recognized for the federal Social Security program? Select one: a. When benefits are paid to the recipients b. When benefits are earned by the recipients c. When benefits are due and payable at the end of a reporting period d. When the social security trust fund receives cash from employees and employers