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