Question 11 bob is the sole shareowner of a small

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Question 11 Bob is the sole shareowner of a small warehousing firm. Recently, one of his employees was seriously injured at work when scaffolding collapsed. Bob is being sued by the employee’s family for millions of dollars, which would deplete all Bob’s business and personal ass ets. Bob changes the beneficiary of his segregated fund contract from himself to his father. Has Bob achieved creditor protection of his investment? a) Yes, because his father is a preferred beneficiary and he is protected from creditor claims. b) Yes, because his father is a preferred beneficiary and the policy is protected against creditor claims. c) Not necessarily, since naming his father as beneficiary may have been done to defeat creditor claims. d) No, since Bob cannot change the beneficiary of a segregated fund contract after it has been issued. Correct answer: c)
Question 12 Mary has a life insurance policy in which she is the policyholder and also the life insured. She has had the same agent for many years, John. The beneficiary of the policy is Mary’s friend, Edith. When Mary dies and the insurer receives the notice of death from the executor, what will be the next step?
Question 13 Karl is unhappy with his treatment by his insurer and feels he has missed opportunities in the market due to the performance of his universal life deposit account. He complains to his insurer and they are unable to reach a satisfactory resolution. Which regulatory authority will be used to resolve Karl’s compliant?
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