Life insurance

Credit life insurance is usually written as what type of policy

Decreasing term

The agent personal observations regarding the applicant are included in

Producers report

The maximum number of employees allowed for simple plan is

100

Which of the following would qualify as a section 1035 exchange

Cash Value Life Insurance Policy to a Cash Value Life Insurance Policy

An insured submits the full premium along with a completed application, and the policy is issued 10 days later. When does the coverage begin?

Date of application

Making statements that are false maliciously critical and designed to injure an insurance person or business is known as

Defamation

An annuity pays a monthly amount for the remainder of the annuitants life if death occurs before the principal is exhausted the remaining amount will be paid to a designated beneficiary which payment option this annuitant selected?

Refund life

Which of the following means liquidity in a life insurance contract

The cash value available to the policy owners

When an annuity has been surrendered early the annuitant will receive

Value of the annuitant will be minus from the surrender charges

An agent accepts the premium payment 35 days after it is due, telling the insured that there will not be a problem keeping the policy in force. This is an example of what type of agent authority?

apparent

Unlike the dividend itself, the interest earned on dividends is a. 40% taxable, similar to a capital gain b. taxable c. nontaxable d. tax deductible

b. taxable- dividends are a return of unused premiums on which the insured has already paid taxes. Any interest earned is taxable as ordinary income

Avoiding tax consequences when transferring assets from one IRA to another can be accomplished by which of the following?

Direct rollover from one plan to the other

All of the following transactions would be allowed except

Employer buying insurance on a employee

Which of the following is a characteristic of an equity indexed annuity

Interest rates are often associated with stock index

Which of the following types of policies are issued by stock companies

Nonparticipating

Information regarding the insured medical history can be found in which part of the application for life insurance

Part 2

Which of the following is responsible for paying premium on an insurance policy

Policyowners

How does the premium in a survivorship life policy compare to the premium in a joint life policy?

Lower