guarantee 5th attempt

Whole life

A graded premium life insurance policy is a modified form of

Irrevocable beneficiary

A policy owner who cannot borrow the equity, change beneficiaries, assign a policy or stops paying premiums without the beneficiary's written consent has designated the beneficiary as a(n)

Not tax-deductible

Contributions to Roth IRAs are

15 days

How many days from the termination of a producers appointment must the insurer notify the commissioner?

Prior to performance of the test

If a life insurance company uses HIV testing as part of its underwriting, when was the applicant be notified of the procedure?

Never; the insurer has waived its right to those answers by issuing the policy

If an insurance company issues a policy even though some questions on the application were unanswered, one can ensure get the answers to those questions?

Stating that dividends are not guaranteed

Which of the following actions does not constitute false advertising?

Disability

Which of the following is not a standard exclusion in life insurance policies?

if there is a transfer for value

under which of the conditions would life insurance proceeds be taxable by the federal government

Multiple wire transfers from the account in the amount of $5000

Which of the following would qualify as a suspicious transaction and would require the filing of an SAR?

The premium is based on the age of each insured.

All of the following are true of the survivorship life policy except

Three days

An insurer must notify the consumer in writing that an investigative consumer report has been requested, within how many days of the initial request?

6 months

Policy loan request, except for loan request for payment of two premiums, may be deferred for a period up to

Change of marital status

Producers in the state are required to properly report all of the following to the commissioner except

purchase of a new home

The guaranteed insurability rider allows the owner to purchase additional amounts fo life insurance without proof of insurability at all of the following EXCEPT

30

And insured decides to replace his life insurance policy with one offered by a new insurer. After receiving the policy, he is unsatisfied with the provisions and decides to return it. Within how many days must he return the policy in order to receive a full premium refund?

100% of eligible employees must participate

In a non-contributory group policy

10%

In order for a business partner to be eligible for a Keogh plan, he/she must work full-time and on at least how much of the business?

They are in relation to the cost of living

Insurance rates are regulated to the extent of all of the following except

The face value of the policy is payable to the beneficiary upon the death of the insured.

Life insurance create an immediate estate. Which of the following best explains this statement?

The variable products account

Which of the following is not an account that must be maintained by the life and health insurance guaranty corporation?

The owner of a shop

Which of the following would not be eligible for coverage under a key person?

the interest is taxable

if the annuitant dies before the annuity start date, which of the following is true?

whole life without proof of insurability

when an insured terminates membership in the sured group, the insured can convert to

The application contains material misstatements

which of the following is a permissible reason for na insurance company to contest payment of a claim based one statements in the application?

Cash values grow tax-deferred

Which of the following is true of the taxation of cash values in a business life insurance policy?

Given an applicant a $50 promotional article with the insurance logo during the insurance application process

Which of the following would not be considered rebating?

60 days

A distribution from an employer sponsored retirement plan or from a IRA is eligible for a tax free rollover if it is reinvested in an IRA within

Payor benefit

A married couple purchase a life insurance policy on their newborn baby. They are concerned about what would happen to the policy if either one of them were unable to continue making the premium payments due to death or disability. Which policy writer should their agent recommend?

The primary beneficiary die 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?