100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
GA State Insurance Exam - GEORGIA LIFE, ACCIDENT AND SICKNESS Questions & 100% Verified Correct Answers with complete solutions (Latest update $7.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. Insurance
  4.  
  5. Insurance
  6.  
  7. Insurance

Exam (elaborations)

GA State Insurance Exam - GEORGIA LIFE, ACCIDENT AND SICKNESS Questions & 100% Verified Correct Answers with complete solutions (Latest update

 4 views  0 purchase
  • Course
  • Insurance
  • Institution
  • Insurance

GA State Insurance Exam - GEORGIA LIFE, ACCIDENT AND SICKNESS Questions & 100% Verified Correct Answers with complete solutions (Latest update

Preview 1 out of 2  pages

Document information

  • August 14, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ga state insurance exam georgia life accident a

Written for

  • Insurance
All documents for this subject (256)

Seller

avatar-seller
topgradesdr

Reviews received

Content preview

GA State Insurance Exam - GEORGIA LIFE,
ACCIDENT AND SICKNESS
Illustrations are part of the insurance contract. - ANS-Which of the following is false regarding
life insurance policy illustrations?

Surrender cost index - ANS-Which policy cost comparison method compares the projected
policy cash value to premiums paid after a certain number of years?

Notify insurers of policies to be replaced, and if requested, provide insurers with the policy
comparison statement - ANS-All of the following are the insurance producer's duties with
respect to life insurance policy replacement, EXCEPT:

Policy replacement is defined as an insurance transaction in which a new life insurance policy or
annuity contract is to be purchased, and the producer or insurer is aware or should be aware
that an existing life insurance policy or annuity contract is to be: lapsed, forfeited, surrendered or
terminated; converted to reduced paid-up insurance, continued as extended term life insurance,
or reduced in value due to utilization of nonforfeiture benefits or policy cash values; modified
causing a reduction in benefits; or reissued with a reduction in cash value.
The correct answer is: All of the above - ANS-A life insurance policy is considered replaced if:

Illustrations; Policy illustrations are the nonguaranteed elements of a policy and are not part of
the policy summary. - ANS-Which of the following is not included in a policy summary for life
insurance?

Life and variable products and securities licenses - ANS-Saul wants to sell variable life
insurance products. Which license(s) must he hold?

Insolvent - ANS-What is the term used to describe an insurer that cannot pay its claim
obligations?

Illustrations - ANS-Which document contains information about the nonguaranteed elements of
a life insurance policy?

A 10% penalty tax is applied to distributions made from a qualified plan prior to the plan
participant reaching the age of 59 1/2. - ANS-Mildred is age 58. She withdraws a sum of money
from her qualified plan. What is the penalty?

Nonqualified plans are characterized by the following: do not need to be approved by the IRS,
can discriminate in favor of certain employees, contributions are not tax-deductible, and interest
earned on contributions is tax-deferred until withdrawn upon retirement.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller topgradesdr. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79202 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$7.99
  • (0)
  Add to cart