Missed

The amount of the distribution is reduced by the amount of a 20% withholding tax.

A 60-year-old participant in a 401(k) plan takes a distribution and rolls it over to an IRA within 60 days.

Annually Renewable Term policy with a cash value account

A Universal Life Insurance policy is best described as a/an

level fixed

Variable Life insurance is based on what kind of premium?

2500

What is the maximum penalty for habitual willful noncompliance with the Fair Credit Reporting Act?

3 years

When a policy is replaced, replacing insurers must maintain a replacement register regarding that policy until the conclusion of the next regular examination by the Insurance Department or for

reduced paid-up

Which nonforfeiture option provides coverage for the longest period of time?

benefit payment amounts are not guaranteed.

Which of the following is a feature of a variable annuity?

annual

Which of the following premium payment modes will incur the lowest overall payment?

interest

While equity indexed annuities earn higher interest rates than fixed annuities, both types of annuities guarantee a specific minimum ______ rate.

cash option

An insured receives an annual life insurance dividend check. What term best describes this arrangement?

higher returns

Equity Indexed Annuities are not securities, but they invest on a relatively aggressive basis to aim for

upon last death

In a survivorship life policy, when does the insurer pay the death benefit?

grow tax deferred

In life insurance policies, cash value increases

employee

Life insurance used as an Executive Bonus is owned by

natural person

Owners of annuities can be individuals or entities like corporations and trusts, but the annuitant must be a ___________, whose life expectancy is taken into consideration for the annuity