A producer represents Study guides, Class notes & Summaries

Connecticut Producer's Examination for Life/Accident and Health Insurance 2024 New Review Licensing Process - 1) Be 18 years or older 2) Be a U.S. citizen or a legally admitted alien 3) Complete all educational requirements 4)Pass exam 5) Be a legal resident at the time of application 6) Satisfy the Commission as to honesty, trustworthiness, integrity, and competency. Honesty, trustworthiness, and integrity will be established by the background check on the initial application. Types...

Health Insurance (Exam FX) Latest Update Graded A+ Agent/Producer A legal representative of an insurance company Broker An insurance producer not appointed by an insurer and whom represents the client Insured A person covered by an insurance policy Insurance policy A legal contract between a policyowner (and/or insured) and an insurance company which agrees to pay the insured/beneficiary for losses caused by specific events Principal Insurer, company who issues insurance polic...

Test Bank for Marketing, 20th Edition, William M. Pride, O. C. Ferrell   True / False 1. Marketing consists primarily of selling and advertising. a. True b. False ANSWER: False 2. The broadest and simplest definition of marketing states that it is the development and efficient distribution of products for consumer segments. a. True b. False ANSWER: False 3. Customers are the focal point of all marketing activities. a. True b. False ANSWER: Tru...

AINS 101 | 112 Question with 100 % correct answers | Verified| Updated Bill is an insurance producer for and employed by ABC Insurance Company (ABC). He represents only ABC when marketing insurance products, and uses an administrative staff also employed by ABC. Bill is a producer in the Direct writer marketing system Because the insurance company usually determines policy wording and the insured has little choice but to "take it or leave it," an insurance contract is a Contract of a...

Iowa Property & Casualty Practice Questions with Certified Answers $10,000 The maximum fine for failing to adhere to a cease and desist order The Insurance Commissioner The business of insurance is regulated in Iowa by The producer's license will automatically terminate at expiration If a producer fails to comply with the Iowa continuing education requirements Nonadmitted companies Surplus lines producers place coverage with 30 days A producer must notify the insurance division of a name ch...

Shawn, Mike, and Dave are brothers who have a $100,000 "first to die" joint life policy covering all three of their lives. If Mike dies first, the policy proceeds A.) Will no longer provide insurance protection B.) Will go to Mike's estate C.) Wwill be divided by probate D.) Will not be paid until the last brother dies - Answer-A.) Will no longer provide insurance protection Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with...

Xcel Solutions Final Exam - Michigan Life and Health Exam Questions And Answers Shawn, Mike, and Dave are brothers who have a $100,000 "first to die" joint life policy covering all three of their lives. If Mike dies first, the policy proceeds A.) Will no longer provide insurance protection B.) Will go to Mike's estate C.) Will be divided by probate D.) Will not be paid until the last brother dies - ANS A.) Will no longer provide insurance protection Susan is insured through h...

AINS 101 | 112 Questions and Answers 100% Solved Bill is an insurance producer for and employed by ABC Insurance Company (ABC). He represents only ABC when marketing insurance products, and uses an administrative staff also employed by ABC. Bill is a producer in the - Direct writer marketing system Because the insurance company usually determines policy wording and the insured has little choice but to "take it or leave it," an insurance contract is a - Contract of adhesion Which o...

AINS 101 | 112 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ Bill is an insurance producer for and employed by ABC Insurance Company (ABC). He represents only ABC when marketing insurance products, and uses an administrative staff also employed by ABC. Bill is a producer in the - Direct writer marketing system Because the insurance company usually determines policy wording and the insured has little choice but to "take it or leave it," an insurance contract is a...

Agent/Producer : A legal representative of an insurance company Broker : An insurance producer not appointed by an insurer and whom represents the client Insured : A person covered by an insurance policy Insurance policy : A legal contract between a policyowner (and/or insured) and an insurance company which agrees to pay the insured/beneficiary for losses caused by specific events Principal : Insurer, company who issues insurance policies 2 | P a g e Policyowner : The person e...