Arkansas State Life Insurance Exam.78 Questions With 100% Correct Answers 2024.
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Arkansas State Life Insurance
Institution
Arkansas State Life Insurance
Arkansas State Life Insurance Exam.78 Questions With 100% Correct Answers 2024.
Rob has a benefit at work which enables him to defer his current receipt of income and have it paid at a later date, when he will probably be in a lower tax bracket. Which benefit fits this description?
Income defer...
Arkansas State Life Insurance Exam.78
Questions With 100% Correct Answers 2024.
Rob has a benefit at work which enables him to defer his current receipt of income and have it paid at
a later date, when he will probably be in a lower tax bracket. Which benefit fits this description?
Income deferral option
Who were Keogh plans designed to provide pension benefits for?
the self-employed
What correctly describes a certificate of authority?
Permits an insurance company to transact business in Arkansas
An example of replacement is
canceling a term life policy to buy a whole life policy
Loans obtained by a policyowner against the cash value of a life insurance policy
would not be treated as taxable income
If an insured dies during the grace period with no premiums paid
the policy would be payable, minus the premium amount
Pre-death distributions from a modified endowment contract (MEC) receive different tax treatment
than other life insurance policies because
the MEC tends to be an investment vehicle
When does an immediate annuity begin making payments?
After the first premium has been paid
When a producer is replacing an existing ordinary life insurance policy, the producer must take all of
the following actions EXCEPT
obtain the beneficiary's signature
Julie has a $100,000 30-year mortgage on her new home. What type of life insurance could she
purchase that is designed to pay off the loan balance if she dies within the 30-year period?
decreasing term insurance
What is a corridor in relation to a Universal Life insurance policy?
The gap between the total death benefit and the policy's cash value
, The automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value
the amount of
past due premiums that have not been paid by the end of the grace period
Which statement concerning Traditional IRAs is correct
earnings are taxable when withdrawn
Which dividend option would an insurer invest the policyowner's money and add any interest earnings
as the dividends accrue?
accumulation at interest option
Which of these is a method of determining the level of funds required for ongoing support in the
event of the breadwinner's death?
Human life value
What is the primary purpose of a rating service company such as A.M. Best?
Determine financial strength of an insurance company
Which of the following is not a federal requirement of a qualified plan?
Employee must be able to make unlimited contributions
The coverage, conditions, and limitations in the master policy of a group contract can be found in
which document?
Certificate of coverage and benefits
Lapsed individual life insurance may be reinstated at any time within:
3 years
Which market index is normally associated with an indexed annuity's rate of return?
S&P 500
A policyowner may change two policy features on what type of life insurance?
Adjustable life
Elizabeth is the beneficiary of a life insurance policy. She is receiving the death benefit in payments of
$10,000 per month until the principal and interest has been paid out. Which option was chosen?
Fixed amount
What is the name of the provision which states that a copy of the application must be attached to the
policy when issued?
Entire contract
A life insurance policy that is subject to a contract interest rate is referred to as
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