Replacement
Reinsurance
Reinstatement
Assignment
Marine insurance
Auto insurance
Fire insurance
Life insurance
Termination of an association
Termination of a key employee
Dissolution of a corporation
Dissolution of a co-partnership
The agent can still transact insurance business in CA, but not in any other states unti the license is reactived.
The agent can transact any insurance business with another agent's approval
The agent can transact any insurance business for which the agent is licensed.
The agent cannot transact any insurance business for which a license is required.
1 year in jail
$1000 fine
1 year in jail and / or $1,000 fine
Each state handles discipline in its own way
Provide a list of the potential complaint lodged against the broker or agent through past customers.
Provide records of interest payments to the broker agent with respect to interest paid by the insurer.
Maintain a list of accounts un connection with compensation exempted in premium financing payments for three years.
Provide a list of current accounts for any client who wishes to see the records.
Liability loss exposure
Financial loss exposure
Human and personel loss exposure
Property loss exposure
Tony Brown CLU and Company
Brownies Insurances Services
Brown Insurance
None of these would be automatically approved
$0
$800
$2,000
$4,000
Possible abuses of rating laws
Possible arson
Possible fraudulent claims from insureds
Possible fraud by insurers
Request his certificate of authority
Authorize agent with a certificate of convenience
Suspend or revoke the license of the agent
Fine the insurance company
Variable annuity
Fixed premium annuity
Tax sheltered annuity
Single payent annuity
Class beneficiary designation, equal shares
Per capita
Per stirpes
Per diem
Insurable interest standard
Contract law
The law of large numbers
Materiality
A broker paid fees fror service
A person licensed to assist an agent in soliciting life insurance
A person licensed to advise clients about life and disability isnrance for a fee
Any agent
It always terminates
It may be transfered to another person
The license becomes inactive until the expiration date
The license must be returned tot he Commissioner to cancel the license
Reinstatement, suicide, pre-existing conditions
Entire contract, grace period, reinstatement
Entire contract, incontestability, pre-existing conditions
Grace period, suicide, right to return
Must increase or decrease the face value of the policy as the index increases or decreases
Gets the automatic increase in the dace value if there is an increase in the cost of living index. There is an additional premium for the additional coverage
Gets the automatic increase in the face value if the index goes up. There is no charge except for the flat charge for the rider
All of the above are false
It is particularly well situated to provide cash to cover estate taxes
The policy face amounts are usually for more than $1,000,000
Age of the insured
The amount of disability income insurance in force
It is particularly well situated to provide cash to cover estate taxes
The policy face amounts are usually for more than $1,000,000
If offers premiums that are quite low compared to what you would be charged for separate policies
The policy face amount is made out based only on the death of the first to die
Fund the distribution of monthly income payment
Purchase paid-up additions
Reduce the current premium
Purchase one year term insurance
Information which the other party already knows
Information not specifically asked by an agent and company, even if it's considered relevant
Information wich is material to the contract
Information which cannot be proven but it material
Innocent by code, but guilty by law
Innocent
Referred to the Insurance Commissioner fo option
Convicted
Incontestability
Indemnity
Misrepresentation
There is no such provision
Common disaster clause
Spendthrift clause
Incontestability clause
Beneficiary clause