Guarantee exam 6th attempt
Only excepting a small percentage of applicants
Underwriters use all of these methods to protect the insurer against adverse selection except
A producer returning part of her commission to her client, as an inducement to buy
Which of the following best describes a rebate?
Benefits are determined solely based on the policy premium
Which of the following is not a characteristic of variable insurance and annuities?
Public school teachers
Which of the following will be eligible for a tax sheltered annuity
Applicant who may require a larger death benefit in the future should buy convertible term insurance
Which statement below is incorrect regarding the type of term insurance that fits best with the applicant needs?
Immediately
If a loan request is for payment of due premiums on the policy, how soon must the insurer issue the loan?
Twisting
An agent who knowingly misrepresent material information for the purpose of inducing and insured to lapse, forfeit, change or surrender a life insurance policy or annuity has committed an illegal practice known as
Misrepresentation
An insurance agent visit a potential client and explains various types of policies.The customer displays a lack of interest, so the agent guarantees higher dividends then he knows would be possible. Which term describes what the agent has done?
The person may be denied coverage based solely on the presence of HIV
In life insurance underwriting, all of the following are true regarding HIV testing except
Fixed amount
J is 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?
Fixed annuities do not provide protection against inflation
Which of the following is a correct statement about annuities?
Paying a claim
Which of the following is consideration on the part of an insurer
He or she qualifies for retirement benefits
Because of the imposed blackout period, the surviving spouse will not receive Social Security benefits until
