The largest asset category of life insurers is ________ and the largest liability category is ________.
A. common stock; dividend reserve
B. policy reserves; mortgage loans
C. separate account items; current policy claims
D. bonds; separate account items
E. bonds; policy reserves
Answer: E
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Mintzberg ___________ rational planning approaches to strategy.
a. Favoured b. Used c. Criticized d. Feared
Convertible term life insurance can be converted into cash-value life insurance, depending on the insured's medical condition pending a medical exam
Indicate whether this statement is true or false.
Cora Roth received her advance estimate of closing costs of $2,316. When she closes on her new home, the closing costs are $2,398
A)?There is no violation of RESPA because the actual costs were within 10% of the estimate. B)?There is no violation of RESPA because the actual costs were within 5% of the estimate. C)?There is a violation of RESPA because the actual costs were not within 1% of the estimate. D)?There is no violation of RESPA.
McCartney lied on his life insurance application. He said he was 40, but he was really 60. McCartney dies during the seventh year his policy is in force. When the insurance company finds out about the misstatement of age, what will it do?
A) Deny the claim, based on fraud B) Pay the face value of McCartney's policy to his beneficiary C) Pay some fraction of the face value of McCartney's policy to his beneficiary D) Pay the face value of McCartney's policy to his beneficiary if the beneficiary submits documentation attesting to the fact that he/she knew nothing of the misstatement