All categories

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:

<h3>brainly.com/question/15171641</h3><h3 /><h3>#SPJ4</h3>

Read more about smooth acceleration

<em>brainly.com/question/25975426</em>

#SPJ1

4 0

2 years ago

Assume that Cane normally produces and sells 62,000 Betas and 82,000 Alphas per year. If Cane discontinues the Beta product line

Talja [164]

Answer:

Please find the complete question in the attachment.

Explanation:

$\beta$ the margin of contribution unit $= 130-25-22-17-14 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ =52$

$\alpha$ Margin Contribution Unit $= 90-10-21-7-10\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ = 42$

Contribution losses $=62000\times 42 \ \ \ \ \ \ \ \ \ \ \ \ = -2604000$

Fixed cost avoidable $=102000\times 20 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ = 2040000$

The margin of Alpha contributions $=17000\times 52 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ =884000$

Fiscal benefits (disadvantage) $= 320000$

3 0

3 years ago

The scenario wherein many files about the same person exist across different departments within an organization is called data _

Kamila [148]

When a person has several files across different departments in an organization, this is called data C) Redundancy

Redundancy:

Refers to something being repeated when it shouldn't be
Can often lead to the repeated copies being deleted

If a company has records of the same person, saying the same thing, across different departments, this is data redundancy as the person's records are being repeated in an unnecessary manner.

In conclusion, the scenario described is data redundancy.

Options for this question include:

A) Repetition

B) Doubling

C) Redundancy

D) Duplication

<em>Find out more at brainly.com/question/13438926. </em>

3 0

2 years ago

Molly sells bracelets to Jean's Place, a boutique store. Molly is scheduled to deliver 100 bracelets on July 1. On June 15, Jean

BabaBlast [244]

Answer: False

Explanation:

The contract is such that Molly agreed to bring bracelets if Jean would pay for said bracelets.

The terms of the contract therefore are that Jean would pay and Molly would deliver. Jean then calls Molly and says that they will be unable to pay which means that they are not going to be able to hold up their responsibilities in the contract.

Molly has the right to then cancel the contract because the other party will not be able to perform their obligations and face no repercussion for it.

6 0

3 years ago

Which of the following is a true statement?

MissTica

Answer: a) To estimate the before-tax cost of debt, we need to solve for YTM on the firm's existing debt.

<h2 />

Explanation:

6 0

3 years ago