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
