missed questions 🫠

¡Supera tus tareas y exámenes ahora con Quizwiz!

a ) Delivery of the policy .

. In this state the owner gets a " free look " bf a specified number of days from a ) Delivery of the policy . b ) Acceptance of the risk by the insurer . c ) The date of application . d ) Acceptance of the application .

c ) The primary beneficiary died before the insured .

According to the Common Disaster clause , if the insured and primary beneficiary are killed in the same accident and it cannot be determined who died first , which of the following will be assumed ? a ) The estate of the primary beneficiary and the contingent beneficiary split benefits equally . b ) The insured died before the primary beneficiary . c ) The primary beneficiary died before the insured . d ) The deaths occurred at the same time .

a ) Substandard

If an applicant's health is poorer than that of an average applicant , the policy may be issued a ) Substandard b ) Standard . ( c ) Ordinary . d ) Preferred .

c ) The home office underwriter

In a life insurance application , all of the following signatures will be required EXCEPT a ) The owner ( if different from the insured ) . b ) The agent c ) The home office underwriter d ) The insured .

d ) Fixed Amount

Jis receiving fixed amount benefit payments from his late wife's insurance policy . He was told that if he dies before all of the benefits are paid , the remaining amount will go to the contingent beneficiary . Which settlement option did J choose ? a ) Fixed Period Only c ) Joint and Survivor d ) Fixed Amount

d ) Simplified Employee Pension ( SEP )

S set up an individual retirement account that her employer is now contributing to . Her employer's contributions are not included in her gross income . What kind of retirement plan does Shave ? a ) 401 ( k ) b ) HR - 10 ( Keogh ) - C ) SIMPLE d ) Simplified Employee Pension ( SEP )

c ) Purchase of a new home

The Guaranteed Insurability Rider allows the owner to purchase additional amounts of life insurance without proof of insurability at all of the following EXCEPT a ) Birth of a child . b ) Marriage . c ) Purchase of a new home d ) Approximately every 3 years between the ages of 25 and 40 .

a ) Insurable interest

To purchase insurance , the policyowner must face the possibility of losing money or something of value in the event of loss . What is this concept called ? a ) Insurable interest b ) Indemnity c ) Exposure d ) Pure loss

c ) Term rider

When term insurance is added to the main policy to enhance the policy or provide added benefit or coverage , it is called a a ) Future Income rider . b ) Guaranteed Insurability rider . c ) Term rider d ) Nonforfeiture option .

c ) Annultant

Which of the following indicates the person upon whose life the annuity income amount is determined ? a ) Owner b ) Insured c ) Annultant d ) Beneficiary

d ) Death caused by a head - on collision

Which of the following losses would likely be covered under the Accidental Death rider ? a ) Suicide b ) Mountain - climbing accident . c ) Death resulting from a long - term disability . d ) Death caused by a head - on collision

d ) An Accidental Death Rider

Which of the following riders pays a beneficiary a death benefit that is double or triple the face amount if the insured's death was caused by an accident as defined in the policy ? a ) A Double Indemnity Rider b ) A Guaranteed Insurability Rider c ) A Covered Peril Rider d ) An Accidental Death Rider

c ) The employer is the beneficiary

All of the following are true about Group Life insurance EXCEPT a ) Evidence of insurability is usually not required . b ) The employee is the insured , The employer is the beneficiary c ) The employer is the beneficiary d ) It is usually written as annual renewable term insurance .

b ) Reports may be sent to anyone who requests one

All of the following are true regarding the federal Fair Credit Reporting Act EXCEPT a ) The customer must be notified if adverse action is taken as a result of a report . b ) Reports may be sent to anyone who requests one c ) Insurers are not required to give customers a copy of the report . d ) It applies to credit reports ordered in connection with insurance

a ) Provide income for retirement

An annuity would normally be purchased by an individual who wants to a ) Provide income for retirement b ) Provide a death benefit to the surviving family . c ) Earn a higher rate of interest . d ) Create an estate .

c ) Yes , proceeds in excess of face amount are taxable as interest taxable

An insured has a life insurance policy in the amount of $ 250,000 naming his wife as beneficiary . Upon his death , his beneficiary decides not to receive the death benefit for some time . When she finally receives the death benefit check , it's in the amount of $ 250,530 . Is any portion of the proceeds that the beneficiary receives taxable ? a ) Yes , proceeds from a life insurance policy are taxable . b ) No , the beneficiary is qualified for a " Bereavement Exclusions " if the beneficiary is a spouse . c ) Yes , proceeds in excess of face amount are taxable as interest d ) No , proceeds from a life insurance policy are not taxable .

a ) Both guarantee that the principal and interest will be fully paid out

Which of the following would be TRUE of both the fixed - period and fixed - amount settlement options ? a ) Both guarantee that the principal and interest will be fully paid out b ) The amount of payments is based on the recipient's life expectancy c ) The size of installments decreases after certain period of time . d ) Both guarantee payments for the life of the beneficiary

d ) Individuals age 50 or older

Who would be allowed catch - up contributions ? a ) Anybody who has a traditional IRA b ) An IRA owner who contributes less than the allowed maximum amount c ) Individuals who have dependents d ) Individuals age 50 or older

c ) Joint and Survivor

Your client wants to provide a retirement income for his elderly parents in case something happens to him . He wants to make sure that both beneficiaries are guaranteed . an income for life . Which settlement option should this policyowner select ? a ) Fixed - period installments b ) Life income c ) Joint and Survivor d ) Fixed - amount installments


Conjuntos de estudio relacionados

Julius Caesar Comprehension Questions

View Set

ATI Nutrition dynamic quizzes study questions

View Set

AP World History Periodizations 1-4 Quiz Questions

View Set

Chapter 27: Common Reproductive Conditions

View Set

Psych II: Social Psychology - Attribution; Vocabulary

View Set