I have no clue god damit

When an individual life insurance policy is being replaced by an insurer using an agent the policy owner must be given an unconditional right to a full refund of premium is if the policy is returned within

20 days

Which of the following qualifications required for producers you want to sell annuities in the state

A life insurance license and a four hour training course

Which of the following is required annuity stability training for producers who want to sell annuities

A one time 4 hour course

When an employee offers to give an employee wage increase in the amount of the premium on a new life insurance policy this is called

And executive bonus

An employee quits his job and converts his group policy to an individual policy premium for the individual policy will be based on his

Attained age

All of the following statements are correct regarding credit life insurance except

Benefits are paid to the borrowers beneficiary

Carol is insured under hair employers group life insurance plan at her place of employment all of the following statements about her coverage are true except

Carol could choose what type of insurance her conversion policy provided term or permanent

Which two terms are associated directly with the premium

Level and flexible

What is the term for how frequently policy owner is required to pay the policy premium

Mode

All of the following requirements for life insurance illustrations except

Must be part of the contract

A rider attached to a life insurance policy that provides coverage on the insureds family members is called

Other insured rider

Which of the following methods to designate a beneficiary means by the head

Per capita

Which nonforfietiture option provides coverage for the longest period of time

Reduced paid up

What are the personal uses of life insurance

Survivor protection estate creation and conservation, cash accumulation and liquidity

Which of the following is not a characteristic of an insurable risk

The lost must be catastrophic

All of the following statements are true regarding installments for a fixed amount except

The payments. When the annuitant dies

The owner of a life insurance policy wishes to name to beneficiaries for the policy proceeds. What will the soliciting ensure producer say

The policy owner can specify the way proceeds are split in the policy

What is a major problem with naming a trust as the beneficiary Of a life insurance policy

They are expensive to administer

Which of the following is not a goal of risk retention

To minimize the insureds level of liability in the event of a loss

Which of the following statements is correct regarding the separate account for collecting premiums established and maintained by producer

The account maybe interest-bearing

A life insurance policy is issued with the face amount of $100,000 the cash value is $50,000 if the insurer becomes insolvent the beneficiary submits a death claim benefit what will the insurance guaranty Association page of the policy claimant

$100,000

Jay purchased $100,000 joint life insurance policy that covers the life of him and his wife eight years later he died in an automobile accident how much will the wife received from the policy

$100,000

What does level referred to in level term insurance

Face amount

Which of the following entities is not an insurer but in organization formed to provide insurance benefits for members of an affiliated lodge or religious organization

Fraternal benefit society

The life insurance policy clause that prevents an insurance company from denying payment of a death claim after a specified period of time is known as the

Incontestability clause

Any life insurance policy that accumulates cash values must include a provision for policy loans after a certain period of time. In the state of Washington, that period of time is

After three full years of premium payments

Which of the following is issued by the department of insurance to show that the insurer has the power to write insurance contracts in that state

Certificate of authority

A legally acceptable attempt by an existing in sure to persuade their client to continue an existing life insurance policy in force when a written communication is received from the replacing ensure is called

Conservation

In reference to fix annuity is what comprises most of a life insurance companies general account

Conservative investments like bonds

The commissioner may permit an agent to enter into reasonable arrangements with prospective insureds to charge a reduced fee in situations where services that are charged or are

Provided beyond the scope of customarily services in connection with the solicitation and procurement of insurance

When a whole life policy lapses or is surrendered prior to maturity the cash value can be used to

Purchase a single premium policy for reduced face amount

Which of the following statements is true regarding cash value in a universal life policy

The insurer credits the cash value in the policy with the current interest rate

For a retirement plan to be qualified it must be designed for the benefit of

Employees

The general powers and duties of the insurance department include all the following except

Enacting statutes to regulate the insurance industry

Which of the following must an agent receive in order to sell variable life insurance policy's

FINRA registration

Which rider one attached to a permanent life insurance policy provides an amount of insurance on Everly family member

Family term rider

If a licensee whose license has been temporarily suspended demands of hearing the commissioner must hold the hearing demanded as according to all the following statements except

Within 30 days of the license effective date

An insurance policy specifies that it will pay $600 for a specific lost the policy owner suffers a loss of $535 how much will the policy pay

$535

What is the main purpose of the seven pay test

It determines if the insurance policy is in MEC

What is the special significance of a conditional receipt

It is intended to provide coverage on a date earlier than the date of the insurance issue policy

Which of the following statements is true about a policy assignment

It transfers the rights of ownership from the owner to another person

If a contract provides a set amount of income for two or more persons with the income stopping up on the first death of the insured it is called

Joint life annuity

Hey man decided to purchase and $100,000 annually renewable term life policy to provide additional protection until his children finish college he discovered that his policy

Required a premium increase at each renewal

The policy owner of an adjustable life policy wants to increase the death benefit which of the following statements is correct regarding this change

The death benefit can be increased by providing evidence of insurability