Chapter 4 Review Questions
a. ensure viators receive full payment
b. pay future premiums on behalf of viatical settlement providers
c. assure viatical settlement providers receive properly assigned policies
*d. all of the above
a. policyholders wishing to sell their policies
b. unlicensed viatical settlement brokers and agents who arrange settlements
*c. investors wishing to invest in viaticated policies
d. abuses are typically aimed at all participants in the settlement process
a. packaging policies in their contestable period to investors without disclosing that fact
*b. misleading insurers on an application to obtain a life insurance policy
c. misleading investors through fraudulently obtained statements of life expectancy
d. none of the above
a. life policies fraudulently obtained that in turn are viaticated
*b. life policies in their contestability period
c. life policies held by escrow agents pending completion of the settlement process
d. none of the above
*a. holding policies until the contestability period expires
b. packaging policies in their contestability period for sale to investors without disclosure of that fact
c. the sale of non-existing policies to investors
d. none of the above
a. federal government
*b. state governments
c. NAIC
d. none of the above
a. Some states regulate lifetime settlements under their securities laws
b. Some states regulate lifetime settlements under their insurance laws
c. Some states do not regulate lifetime settlements
*d. all of the above are true
a. ethical treatment of viators
*b. protections for investors purchasing viaticated policies
c. promotion of uniform state laws regulating lifetime settlements
d. disclosures made by member firms when buying life policies from viators
*a. ethical treatment of viators
b. protections for investors purchasing viaticated policies
c. promotion of uniform state laws regulating lifetime settlements
d. disclosures made by member firms to investors buying viaticated policies
a. licensing of viatical settlement providers and their agents
b. advertising of viatical settlement products
*c. taxation of viatical settlement proceeds
d. disclosures to buyers and sellers of viaticated policies
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