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Life insurance Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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If a retirement plan or annuity is "qualified," this means -:- It has favorable tax treatment If an insurer makes a statement that is policies are guarantee by the existence of the Insurance guaranty association, that would be considered... -:- An unfair trade practice What type of life inu...

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  • September 6, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • life insurance questions 100 correct answers
  • if a retirement plan or annuity is qualified th

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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
If a retirement plan or annuity is "qualified," this means


✓ -:- It has favorable tax treatment




If an insurer makes a statement that is policies are guarantee by the existence of the

Insurance guaranty association, that would be considered...


✓ -:- An unfair trade practice




What type of life inusrance is most commonly used for group plans?


✓ -:- Annually renewable term




An insurer wants to begin underwriting procedures for an applicant. What source will it

consult for the majority of its underwriting information>


✓ -:- The application




If the beneficiary wants a guarantee that police proceeds will be paid for a period of 10

years before being exhausted, what settlement option should the beneficiary select?


✓ -:- Fixed period




1|Page | Grade A+| 2024/2025

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

What annuity settlement option provides payments to an annuitant for the rest of the

annuitant's life and ceases at he annuitant's death


✓ -:- Pure life




Which of the following is not the consideration in an insurance policy?


✓ -:- The promise to pay covered losses




An agent offers his client free tickets to a sporting event in exchange for the purchase of

aninsurance policy. The agent is guilty of


✓ -:- Rebating




All advertisments, regardless of their source, are the responsibility of the


✓ -:- Insurer




Employer contribution made to a qualified plan are...


✓ -:- subject to vesting requirements




When must insurable interest exist in a life insurance policy?


✓ -:- at the time of application




2|Page | Grade A+| 2024/2025

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

What type of policy provides permanent protection?


✓ -:- Whole life




A 403(b) tax-sheltered annuity is available for


✓ -:- Teachers and nonprofit organizations




In a single employer group plan, what is the name of the policy issued to the group

sponsor?


✓ -:- Master contract




The sole beneficiary of a life insurance policy dies before the insured. If the policy owner

fails to change the beneficiary gefore the insured's death, the policy proceeds will got to


✓ -:- The insureds estate




When agents are acting within the scope of their contract, their actions will be assumed to

be the acts of the


✓ -:- insurer




The life insurance policy clause that prevents an insurance company from denying payment

of a death claim agter a specified period of time is known as the


3|Page | Grade A+| 2024/2025

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