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2 years ago

If a consumer refuses to provide required suitability information, what must the producer/insurer do

1 answer:

7 0

Obtain a customer signed statement acknowledging that an annuity transaction is not recommended if a customer decides to enter into an annuity transaction that is not based on the insurance producer's or insurer's recommendation.

<h3>Who is responsible for verifying your suitability?</h3>

The insurer or third party delegate authorized pursuant to section 224.

6(c) of Regulation 187 conducts a suitability review prior to the issuance of an insurance product or the effectuation of a sales transaction; and.

The insurer has procedures designed to prevent financial exploitation and abuse.

<h3>What factors are important considerations when determining suitability of an annuity sale?</h3>

Suitability Information Gathered by an Insurer

Age.
Annual income.
Financial situation and needs, including the financial resources you're using to fund the annuity.
Financial experience.
Financial goals and objectives.
Intended use of the annuity.
Financial time horizon.

Learn more about insurance here:

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3 years ago

In conducting interviews and observing factory operations to implement an activity-based costing system, you determine that seve

alexdok [17]

Answer:

Answer - 1

Activities are of two kind worth included exercises and non esteem included exercises. So non esteem increased the value of the item in this manner ought to be decreased. In any case, few non esteem included exercises are basic non esteem included exercises which implies these are vital so as to conform to standard requirements.The exercises like review, checking, reworking,reporting are significant during the time spent creation. These are significant for the procedure of responsibility. These don't enhance the movement yet at the same time it is imperative to convey these exercises on the grounds that these will assist with giving the correct item to the client.

So when the parts are gotten at dock it is essential to investigate them in light of the fact that to know are the items are in acceptable condition, regardless of whether those are harmed/imperfect or not. Is the amount requested is gotten or less is gotten. So review is extremely significant else whatever is gotten will be acknowledged which will make the organization item imperfect.

Presently the item was reviewed again before being introduced in definite item this is likewise a basic non esteem included action, on the grounds that to satisfy the standard set for the item we need to assess that correct segment is introduced in conclusive item. Let say if the representative don't investigate and wrong item is introduced in the last item than the inadequate item will be made which is having more misfortune than the expense of review.

So as per me these are fundamental non esteem added action which should be done so as to consent to administrative or set guidelines.

Answer - 2

Redundancy can't as assessment is an action which should be conveyed with the goal that we get right segment in first circumstance and in second circumstance don't create deficient item.

Answer - 3

My responsibility is to make them sure that their job is likewise important during the time spent creation so need not stress that they will lose the positions. I will specify that what kind of movement you are doing and how it will support the association.

Answer - 4

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3 years ago

On July 1, 2015, Friedman Inc. invested $717,963 in a mine estimated to have 806,700 tons of ore of uniform grade. During the la

yaroslaw [1]

Answer:

The computations are shown below:

Explanation:

(a) Depletion cost per unit

Depletion cost per unit

= $717,963 ÷ 806,700 tons

= $0.89 per ton

(b) The Journal entry to record depletion expense is

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3 years ago

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Vikentia [17]

Answer:

question marks

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BCG is corporate strategy planning framework developed by management consultation firm BCG (Boston Consulting Group).

It is a two by two matrix designed to analyze the position and performance of different business unit of the firm based on their relative market share(market share relative to other companies competing in same business type) and the growth rate of the unit.

Business units are different business in which a company operates for example Proctor and gamble operate in beauty care, grooming, household cleaning.

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Given below are brief description of it.

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Stars : stars are unit which possess high market share and high growth. They are high performing unit. Gerald plan for such unit is more investment as it will lead to more growth.

Question marks: They are unit with low market share but high growth. Such units are complicated one as it can be become high performer owing to growth potential but can under perform as because of less market share and increased competition in the market. General strategy applied here are product development, market penetration and divestment.

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3 years ago

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3 years ago