exam fx 2

अब Quizwiz के साथ अपने होमवर्क और परीक्षाओं को एस करें!

FINRA

An agent selling variable annuities must be registered with..

viator

What is the name of the owner of a lufe insurance policy who enters into a viaticial settlement contract

fixed period installments

All of the following are dividend options EXCEPT

Insurance and cash account

What are the two components of a universal policy?

terminally ill

a viatical settlement is arranged between a viatical company and and a

the insured's estate

A 40 year old man buys a whole life policy and names his wife as his only beneficiary. His wife dies 10 years later. He never remarried and dies at age 61, leaving 2 grown-up children. Assuming he never changed his beneficiary, the policy proceeds will go to...

Inspection Report

An insurer receives a report regarding a potential insured that includes the insured's financial status, hobbies and habits. What type of a report is that?

They are not included as income for the employee, but are taxable upon distribution

How are contributions to a tax-sheltered annuity treated with regards to taxation

fixed period

If a beneficiary wants a guarantee that benefits paid from principal and interest would be paid for a period of 10 years before being exhausted, what settlement option should the beneficiary select?

The producer must provide the applicant with a notice regarding replacement

The producer must provide the applicant with a notice regarding replacement

Waiver of Premium

The rider in a whole life policy that allows the company to forgo collecting the premium if the insured is disabled is called

Family Income Policy

W owns a policy in which she is covered as the bread-winner with permanent insurance and with decreasing term insurance in the form of a rider. What type of policy is this?

Death Benefit

Which component increases in the increasing term insurance?

Exchange of unequal values

Which of the following best describes the aleatory nature of an insurance contract?

aleatory

Which of the following best describes the concept that the insured pays a small amount of premium for a large amount of risk on the part of the insurance company?

Insurance Guaranty Association

Which of the following entities protects policyowners, insureds, and beneficiaries under insurance contracts when insurers fail to perform contractual obligations due to financial impairment?

Benefit payment amounts are not guaranteed

Which of the following is a feature of a variable annuity?

variable whole life has a guaranteed death benefit

Which of the following is a key distinction between variable whole life and variable universal life products?

Variable Universal Life

Which of the following life insurance policies allows a policyowner to take out a loan from the policy's cash value?

Payor Benefit Rider

Which of the following riders would NOT cause the Death Benefit to increase?

Term Rider

Which of the following, when attached to a permanent life insurance policy, allows the policyowner to customize the policy to provide an additional amount of temporary insurance on the insured, or allows amounts of temporary insurance to cover other family members?

Paid-up option

Which option is being utilized when the insurer accumulates dividends at interest and then uses the accumulated dividends, plus interest, and the policy cash value to pay the policy up early?

interest only

all of the following are nonforfeiture options except

the premiums are invested in the insurers's general account

all of the following are true about variable products except

the annuitant receives a fixed amount of returns

all of the following statements about equity index annuities are correct except

the interest rate is tied to an idex such as the standard & poor 500

all of the following statements about equity indexed annuites are correct except

the surviving beneficiary will continue receiving 2/3 of the benefit paid when both beneficiaries were alive

an insured has chosen joint and 2/3 survivor as a settlement option. What does this mean to the beneficiaries.

Obtain a list of all life insurance policies that will be replaced

during replacement of a life insurance, a replacing insurer must do which of the following

$50

failure to notify the commissioner of changed to a licensee's address within 10 business days may result in an administrative fee of

at the time the policy is delivered

if a life insurance policy contains a minimum 10-day unconditional refund provision(free look), when is the latest the buyers guide and policy summary must be delivered.

Annually Renewable Term

the least expensive first-year premium is found in which of the following policies

Annually Renewable Term

the purest form of term insurance. The death benefit remains level, and the policy may be guaranteed to be renewable each year without proof of insurability, but the premium increases annually according to the attained age, as the probability of death increases.

12 months

the required privacy disclosure notice must be provided by insurer to current policyholders at least once in any period of

False Financial Statements

when an insurance agency published an advertising brochure, it emphasized the companys financial stability and sound business practices. In reality its financial health is terrible, and the company will soon have to file for bankruptcy. which of the following terms describes the advertisement

It does not guarantee that the entire principal amount will be paid out

which of the following is not true regarding the life with guaranteed minimum annuity settlement option

single payment of periodic payments

which two terms are associated directly with the way an annuity is funded

provider

who is a person, other than a viator, that enters into a viatical settlement contact

the insurer

who pays the annual agent appointment fee


संबंधित स्टडी सेट्स

Vocabulary Classical Roots Book B Lesson 10

View Set