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
Final exam - Indiana life only (1). Questions & 100% Verified Correct Answers with complete solutions (Latest update CA$11.50   Add to cart
Quickly navigate to
Preview
  2.  
  3. Insurance
  4.  
  5. Insurance
  6.  
  7. Insurance

Exam (elaborations)

Final exam - Indiana life only (1). Questions & 100% Verified Correct Answers with complete solutions (Latest update

 6 views  0 purchase

Final exam - Indiana life only (1). Questions & 100% Verified Correct Answers with complete solutions (Latest update

Preview 2 out of 8  pages

Document information

  • August 15, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • final exam indiana life only 1

Written for

All documents for this subject (257)

Seller

avatar-seller
topgradesdr

Reviews received

Content preview

Final exam - Indiana life only
59 1/2 - ANS-An IRA owner can start making withdrawals and NOT be subjected to a tax
penalty beginning at what age?

Alien - ANS-An ___ insurance company is one formed in a country other than the United States

A Policy Summary and Buyer's Guide - ANS-In Indiana , which of the following must be
delivered to a policy owner upon the sale of an individual life insurance policy?

producer - ANS-The ___ must provide an insured with proper disclosure concerning the
replacement of a life insurance policy

Decreasing - ANS-An ___ term life policy is normally used when covering an insured mortgage
balance

deferred - ANS-P, age 50, purchased an annuity that P will fund with $500/ month for 15 years.
The annuity will then pay P retirement payments after the 15 years. Which type of annuity did P
purchase?

Be organized under Indiana insurance laws - ANS-A domestic insurance company in Indiana
must :

Modified Premium Life - ANS-J is issued a Life Insurance policy with a death benefit of
$100,000. She pays $600 per year in premium for the first 5 years. The premium then increases
to $900 per year in the sixth year, and remains level thereafter. The policy's death benefit also
remains at $100,000. Which type of Life Insurance policy is this?

Everyone must be covered in the group - ANS-Which of the following is an important
underwriting principle of group life insurance?

The beneficiary is named by the key employee - ANS-Which statement regarding a key
employee life policy is NOT true ?

Contributory - ANS-If it's employees share in the cost of insurance, what type of group life
insurance plan would a corporation have?

Universal Life - ANS-Which of the following life insurance policies combine term insurance with
an investment element?

Income that cannot be outlived by the owner - ANS-T, age 70, withdraws cash from a
profit-sharing plan and purchases a Straight Life Annuity. What will this transaction provide?

, 31 days - ANS-In the event of employment termination a person covered by a group policy also
has the right to convert such coverage to an individual policy within ___ days without proving
insurability

Pay face amount minus the past due premium - ANS-M had an annual life insurance premium
payment due January 1. She died January 10 without making the premium payment. What
action will the insurer take?

the cost - ANS-C is trying to determine whether to convert her convertible term life policy to
whole life insurance using her original age or attained age. What factor would affect her decision
the most?

taxed as ordinary income - ANS-Which of the following statements about accumulated interest
earned on dividends from an insurance policy is true?

Immediate annuity - ANS-The type of annuity that can be purchased with one monetary deposit
is called an ?

If material to the risk, false representations will void a policy - ANS-In regards to representations
or warranties, which of these statements is TRUE?

6 months - ANS-A life insurance policy can be backdated before the application date for up to

designate at least one licensed producer to be responsible for the entity's compliance with the
insurance laws and rules - ANS-A business entity acting as an insurance producer must

Revocable - ANS-M purchased an Accidental Death and Dismemberment (AD&D) policy and
named his son as beneficiary. M has the right to change the beneficiary designation at anytime.
What type of beneficiary is his son?

insurance company - ANS-During the course of an insurance business transaction , who does
the producer legally represent?

AIDS and HIV virus exams can be conducted in a discriminatory fashion - ANS-All are true
statements regarding the underwriting process, EXCEPT:

A minimum guaranteed Death benefit is provided - ANS-Which statement is true regarding a
variable whole life policy ?

Convert term coverage to a whole life policy - ANS-Which of these actions does not constitute
life insurance policy replacement?

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 CA$11.50. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73918 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

Recently viewed by you

Exam (elaborations) ·

(0)

NUR 209 Exam 3: Questions & Answers (Nutritional): Updated A+ Guide Solution
CA$11.50
  • (0)
  Add to cart