Guaranteed exam

immediately

If a loan request is for payment of due premiums on the policy, how soon must the insurer issue a loan?

The beneficiary

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

Apply and pay a fee to a nonresident state that reciprocates

In order to get a non resident license in Louisiana producers must

10%

What is the tax penalty for withdrawing money from an annuity prior to age 59 1/2

Admitted

What term is used for insurance companies that have a certificate of authority to transact insurance

Contract interest rate

What type of an interest rate is guaranteed in universal life policies

The principal portion is generally income tax free while the interest portion is taxed as ordinary income

When a settlement option is chosen at death how are the monthly income payments taxed

Extended term

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

Controlled Business

When an agent obtains an insurance license for the primary purpose of writing insurance for himself, his spouse, or his own business this is called

disability

Which of the following is not a standard exclusion in life insurance policies?

Being permanently disabled

Which of the following would NOT trigger the payment of Accelerated Death Benefits?

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

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

The person who purchases the annuity

Who is the annuity owner?

Individuals age 50 or older

Who would be allowed catch up contributions

60 days

A distribution from an employer sponsored retirement plan or from an ira is eligible for a tax free rollover of it is reinvested in an it's within

Buyer's Guide

A entire contract includes all the following except

Increases at a predetermined age

A jumping juvenile policy is unique in that the death benefit automatically

Family term

A married couple wants to include the entire family in their whole life policy under one rider which of the following riders will help them achieve that goal

Continue to increase

A whole life policy is surrendered for a reduced paid up policy. The cash value in the new policy will

continue to increase

A whole life policy is surrendered for a reduced paid up policy. The cash value in the new policy will

The income at retirement is tax free

All of the following are advantages of a qualified retirement plan except

Proof of insurability must be provided at each renewal

All of the following are true of annually renewable term insurance EXCEPT

It provides a cash payment to the annuitant at annuitization

All of the following are true regarding a cash refund annuity settlement option except

Health insurance policies in force

All of the following information needs to be included on an application for life insurance except

cash

An IRA contribution can be made from which of the following

Either term insurance or permanent insurance.

An adjustable life policy can assume the form of

70,000

An annuity has accumulated the cash value of 70,000, of which 30000 is from premium payments. The annuitant does during the accumulation phase. The beneficiary will receive

Performance of a recognized index

An equity indexed annuity will grow based upon

Mexico

An example of an alien insurer doing business in this state is one formed under the laws of

Childers term rider

An insured and his spouse recently had a child. Which of the following riders would allow the couple to insure the child for a limited period of time at a specified amount?

Delivered

An insurer mails an insurance policy to a new policyowner. When the insurer relinquishes control of the policy, the policy is considered

10%

An ira owner who is 57 years old wants to make a withdrawal from her traditional ira. What penalty will be imposed

Nonforfeiture Options

Cash value guarantees ina whole life policy are called

Defamation

During policy solication an insurer exaggerates the financial condition of one competitors, and makes it sound worse than it is this an example of an unfair trade practices

Premiums are flexible

How do premiums in variable universal life policies vary from those in variable whole life policies

90 days prior to expiration

How long is the period of time in which a licensee must renew his or her license

Prior to performance of the test

If a life insurance company uses HIV testing as a part of its underwriting, when must an applicant be notified of the procedure

The family term rider incorporates

Spouse term and children's term

Loss of the breadwinners income

The human life value approach to determing life insurance needs is based upon which of the following ideas

The U.S department of treasury

Variable life insurance is regulated by all the following entities except

single premium deferred annuity

What annuity is purchased with a single payment, but dissent begin payments for at least a year

Insurer Insolvency

What does the Guaranty Association guard against?

Paid-Up Additions

Which dividend option will increase the death benefit?

Stating that dividends are not guaranteed

Which of the following actions does not constitute false advertising

If there is a transfer for value

Under which of the following conditions would life insurance proceeds be taxable by the federal government?

Statement of Good Health

When an agent delivered an insurance policy to the insured, he collected the intial premium, as well as a document verifying that the insured had not had any injuries or illness since the application date. What is this document called

Estate Conservation

When life insurance is used to pay inheritance taxes and federal taxes it is known a

SPIA

Which annuity is purchased with a single payment and begins annuity payments with the first year?

It provides the highest monthly benefits

Which of the following best describes pure life annuity

Fixed Annuities do not provide protection against inflation

Which of the following is a correct statement about annuities?

Fixed annuities do not provide protection against inflation

Which of the following is a correct statement about annuities?

Number of beneficiaries

Which of the following is not a component of an insurance policy premium