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Life Insurance Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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How to determine the accumulation value of a deferred annuity? -:- Premiums paid + interest earned - expenses and withdrawals Which of the following entities does NOT establish regulations for variable insurance products? -:- State attorney general Annuity contract may be returned for a ful...

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  • September 6, 2024
  • 28
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life insurance questions 100 correct answers
  • how to determine the accumulation value of a defer

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  • Life Insurance
  • Life Insurance

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2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!



Life Insurance Questions & 100% Correct
Answers- Latest Test | Graded A+ | Passed
How to determine the accumulation value of a deferred annuity?


✓ -:- Premiums paid + interest earned - expenses and withdrawals




Which of the following entities does NOT establish regulations for variable insurance

products?


✓ -:- State attorney general




Annuity contract may be returned for a full refund during what period?


✓ -:- Free look period




In order for a health plan to be an accountable health plan who has to approve it?


✓ -:- The director




If dividend option choices are offered on a whole life insurance policy the policy must be

what?


✓ -:- It must contain a statement that dividends are not guaranteed




1|Page | Grade A+| 2024/2025

,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

A source of supplemental income for a life insurance policy owner can be derived from

what?


✓ -:- The cash value




A health insurance policy issued on a conditionally on a renewable basis gives the insurance

company the right to refuse renewal of the policy for what reason?


✓ -:- Specific reasons stated on the contract




Medicare can be described as?


✓ -:- A federal health insurance program for individuals over the age of 65 or

permanently disabled




Which parties are directly involved in a group accident and health insurance contract?


✓ -:- The employer and the insurer




The producer replaces the client's existing life insurance policy with a new one which action

is advisable?


✓ -:- Wait until the new policy is issued and delivered before surrendering existing

policy




2|Page | Grade A+| 2024/2025

, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

What is payable to the policy owner if a whole life policy is surrendered prior to its maturity

date?


✓ -:- The cash value




A policy that covers the business expense of finding a permeant or temporary employee to

replace a disabled one is what type of disability coverage?


✓ -:- Key employee coverage




A statement must be signed by who for any illustrations used in a sale of a life insurance

policy?


✓ -:- The producer




A guarantee of insurability option provides a long term care policy owner the ability to do

what?


✓ -:- To buy additional coverage at a later date




How a monthly life annuity benefit payments treated under a tax sheltered annuity?


✓ -:- Taxed as ordinary income in the year received




3|Page | Grade A+| 2024/2025

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