THINGS TO WORK ON

decreasing term insurance is often used to

Cover a mortgage

Which of the following is not one of the independent rating services that publishes guides to the insurance company's financial integrity?

NAIC

which of the following would be eligible to become a life settlement broker

a licensed resident life insurance producer

an insurance advisors license may be issued to a cooperation if the majority of teh officers of the cooperation

are founded by the commissioner to be in all respects qualified for licenses as advisors

In this state the owner gets a "free look" of a specified number of days from

delivery of policy

What is rue about the life insurance

face value of policy is immediately available

An annuity owner receives the same guaranteed payment every month. What type of annuity is it?

fixed

which portion of a nonqualified annuity payment is taxable

interest earned on principal

Agents may be found guilty of defamation if they make false statements that are intended to?

maliciously criticize another insurance company

Contributions to Roth IRA's are

non tax deductables

which dividend option will increase the death benefit

paid up additions

an equity indexed annuity will grow based upon

performance of a recognized index

What is the owner

principal, not a key person

If life insurance uses HIV testing, the applicant must be aware of procedure

prior to the performance of the test

what does payor rider do

protects the lives of minors

which of the following will not be included in the buyers guide

specific information about policy, since it provides generic information

the family rider incorporates

spouse term and children term

all of the following are true of a survivorship policy except

the premium is based on the age of each insurer

when must a producer notify department of insurance of address change

within 30 days

if an insured dies and discovered that they misstated there age or gender, the company will

adjust the death benefit to what the actual age or gender would be

in life insurance, which of the following is NOT required to have an insurable interest in the insured

beneficiary

Which of the following would be true of both the fixed period and fixed amount settlement options

both guarantee that the principal and interest will be fully paid out

what type of interest rate guaranteed in universal life policies

contract interest rate

When a whole life policy is surrendered for its nonforfeiture value, what is the automatic option?

extended term

what is the specific requirement regarding the number of employees in a SIMPLE plan

no more than 100 employees

which of the following best defines rebating

offering an inducement of something of value not specified in the policy

what types of insurer uses a formal sharing agreement

reciprocal insurers

What affect will long term care rider have on the death benefit

reduce the death benefit

in a deferred annuity, the difference between the accumulation value and the surrender value is the

surrender charge

upon surrender or endowment, what happens to the cash value in excess

taxed as ordinary income

Who does the spendthrift clause in a life insurance policy protect?

the beneficiary

when someone gets injured and pays the premium for 6 months and can't pay for the last few what happens

waiver of premium rider

A graded premium life insurance policy is classified as a form of

whole life

the commissioner may suspend or modify the filling requirements for

any kind of insurance or classes of risks for which the rates cannot be practically filled before they are used