wrong answers

when the commissioner requires that advertising material be submitted and approved by the department how many days in advance must it be reviewed?

30 days?

what is the penalty for IRA distributions that are below the required minimum for the year?

50%

when annuity is written whose life is taken into consideration?

annuiant

when both parties to a contract must perform certain duties and follow rules of conduct to make the contract enforceable. the contract Is?

conditional

what type of insurance would be used for a return of premium rider?

increasing term

Your client wants both protection and savings from the insurance, and is willing to pay premiums until retirement at age 65. What would be the right policy for this client?

limited pay whole life

which of the following is NOT true regarding policy loans?

money borrowed from the cash value is taxable.

based on human life value approach which of the following is not used to calculate and individuals life value?

predicted family needs after annuitant death

a policy owner who is also the insured wants to name her husband as the beneficiary of her life policy. she also wishes to retain all rights of ownership. the policy owner should have her husband named as the?

revocable beneficiary

a 60 year old participant in a 401K plan takes a distribution and rolls it over to an IRA within 60 days what is true?

the amount of distribution is reduced by 20%withholding tax

which of the following is true regarding a market value adjusted annuity

the owner is guaranteed fixed interest for a specific period of time

In an Adjustable Life policy all of the following can be changed by the policy owner EXCEPT

the type of investment

annuity contract grows tax deferred. that means?

there is no current income taxation upon the growth in the annuity.

waiver if cost is found in what type of insurance?

universal life

an agent and applicant for a life insurance policy fill out and sign the application however the applicant doesn't wish to give the agent intiail premium and no receipt is issued. When will coverage begin?

when the agent delivers the policy, collects the intial premium, and the applicant completes an acceptable statement of good health.