Life producer gauranty exam WITH ACTUAL CORRECT DETAILED ANSWERS
0 view 0 purchase
Course
F Life producer gauranty
Institution
F Life Producer Gauranty
Life producer gauranty
exam WITH ACTUAL CORRECT DETAILED ANSWERS Life producer gauranty
exam WITH ACTUAL CORRECT DETAILED ANSWERS Life producer gauranty
exam WITH ACTUAL CORRECT DETAILED ANSWERS Life producer gauranty
exam WITH ACTUAL CORRECT DETAILED ANSWERS Life producer gauranty
ex...
CURRENTLY TESTING SOLUTIONS OF Life producer gauranty
exam WITH ACTUAL CORRECT DETAILED ANSWERS
What is the maximum loan amount a policy owner may withdrawal from a variable universal life
insurance policy - ANSWER-An amount not exceeding cash value
Your client wants to provide a retirement income for his elderly parents in case something happens to
him. He wants to make sure that both beneficiaries are guaranteed an income for life. Which settlement
option should this policyowner select? - ANSWER-Joint and survivor
Cash Value guarantees in a whole life policy are called - ANSWER-Nonforfeiture Values
Life insurance creates an immediate estate. Which of the following best explains this statement? -
ANSWER-The face value of the policy is payable to the beneficiary upon the death of the insured
Which of the following types of insurance is investment based, has a level fixed premium, and a
nonguaranteed cash value? - ANSWER-variable whole life
A married couple wants to include the entire family in their whole life policy under one rider. Which of
the following riders will help them achieve that goal? - ANSWER-Family term
The entire contract includes all of the following EXCEPT - ANSWER-A buyer's guide
Which of the following would NOT be eligible for coverage under key person? - ANSWER-owner of a shop
, In order for a business partner to be eligible for a Keogh plan, he/she must work full-time and own at
least how much of the business? - ANSWER-10%
Which of the following are characteristics of term life insurance? - ANSWER-Renewable,low cost
What is the maximum loan amount a policyowner may withdrawal from a variable universal life
insurance policy? - ANSWER-An amount not exceeding the cash value
Under which of the following conditions would life insurance proceeds be taxable by the federal
government? - ANSWER-If taken in lump sum
Which of the following would be TRUE of both the fixed-period and fixed-amount settlement options? -
ANSWER-Both gurentee interest and principal will be paid
A married couple wants to include the entire family in their whole life policy under one rider. Which of
the following riders will help them achieve that goal? - ANSWER-Family term
According to the Common Disaster clause, if the insured and primary beneficiary are killed in the same
accident and it cannot be determined who died first, which of the following will be assumed - ANSWER-
The primary beneficiary died before the insured
Which of the following is guaranteed under a variable whole life insurance policy? - ANSWER-min death
benefit
Where are premiums from fixed annuities invested? - ANSWER-general acct
A viatical settlement is a transaction outside the life insurance company where the owner sells the life
insurance policy for which of the following? - ANSWER-a percentage of the face amount of the policy
If an insurance company issues a policy even though some questions on the application were
unanswered, when can the insurer get the answers to those questions? - ANSWER-Never; the insurer has
waived its right to those answers by issuing the policy
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 DrJudy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $20.49. You're not tied to anything after your purchase.
