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Question 1 of 10
1. Question
Which of the following are the major channels of regulation of the insurance industry?
Correct
Insurance is a public service that affects a large portion of the general public.
Incorrect
Insurance is a public service that affects a large portion of the general public.
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Question 2 of 10
2. Question
If the policy of an insured person is renewed, what notice should the insured person receive?
Correct
A notice must always be provided in writing by the insurance company regarding any transactions that will occur.
Incorrect
A notice must always be provided in writing by the insurance company regarding any transactions that will occur.
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Question 3 of 10
3. Question
In dental insurance, Sometimes there will be a nonroutine treatment that needs to be done. What will be the percentage that the insurance cover?
Correct
In whatever expense that remains, the patient can pay an annual deductible for the bill.
Incorrect
In whatever expense that remains, the patient can pay an annual deductible for the bill.
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Question 4 of 10
4. Question
Which of the following is 100% covered by the dental plan insurance?
Correct
There are treatments excluded or not covered by insurance such as cosmetic stipulates, missing tooth provision, and plaque control.
Incorrect
There are treatments excluded or not covered by insurance such as cosmetic stipulates, missing tooth provision, and plaque control.
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Question 5 of 10
5. Question
In NSP computation, What is the Ax if λ=0.20 and r=0.04?
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Question 6 of 10
6. Question
In NSP computation, What is the Ax if λ=0.30 and r=0.02?
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Question 7 of 10
7. Question
What happens when you stopped paying premiums in life insurance?
Correct
Insurance companies actually rely on the fact that some people do not complete the payments required in the contract. People who die with an incomplete payment, their beneficiaries will not have any claim to the death benefits.
Incorrect
Insurance companies actually rely on the fact that some people do not complete the payments required in the contract. People who die with an incomplete payment, their beneficiaries will not have any claim to the death benefits.
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Question 8 of 10
8. Question
If John dies before making the final payment to complete the insurance, what will happen to his beneficiaries?
Correct
Even with a small lapse in their payment, the insurance will not cover anything under the contract. Payments required by the contract must be met first before coverage.
Incorrect
Even with a small lapse in their payment, the insurance will not cover anything under the contract. Payments required by the contract must be met first before coverage.
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Question 9 of 10
9. Question
What is the average range of percentage on your last salary will the pension plan pay?
Correct
A pension agreement can be structured as a pay-as-you-go plan where the current workers pay the retirees from their employment taxes.
Incorrect
A pension agreement can be structured as a pay-as-you-go plan where the current workers pay the retirees from their employment taxes.
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Question 10 of 10
10. Question
Which of the following is a factor in the retirement triangle?
Correct
The Monte Carlo simulations are often used by financial advisors to further illustrate the financial life cycles or the retirement triangle.
Incorrect
The Monte Carlo simulations are often used by financial advisors to further illustrate the financial life cycles or the retirement triangle.