Annuitization point Study guides, Class notes & Summaries

Agent Thompson received a letter from the Department of Insurance asking her to provide proof of completing the continuing education requirements. Within how many days must Agent Thompson respond to the Department's inquiry? 20 30 10 45 - Answer- 10 days Abby lives in Ohio, where she is licensed as an insurance producer. She wants to apply for a nonresident license in Pennsylvania. Which of the following conditions must she satisfy? She must move to Pennsylvania. She must surrender h...

Florida 2-15 Overview/ Study Guide (Fool Proof Guide): Annuities | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ Annuity - Answer -A savings plan within an insurance company instead of a bank. - An annuity is not considered insurance, but the life insurance industry handles them Fixed Annuity - Answer -A savings plan with an insurance company with a minimum guaranteed interest rate Accumulation Period - Answer -The period in an annuity where the savings is bui...

Texas Health and Life Insurance Exam Practice Questions With Answers - Latest 2023/2024 (Graded). Which option is being utilized when the insurer accumulates dividends at interest and then uses the accumulated dividends, plus interest, and the policy cash value to pay the policy up early? correct answerPaid-up option With the paid-up option, the insurer can accumulate dividends at interest and then use them, in addition to interest and the policy's cash value, to pay the policy earlier than...

Florida 2-15 Overview/ Study Guide (Fool Proof Guide): Annuities

A plan in which plan participants make contributions via salary reductions, cash bonuses or thrift plans. 403(b) Tax-sheltered Annuity - answer401(k) plan for employees of nonprofit organizations and public schools. 408(k) Plan - answerQualified plans for small employers. A mix of an IRA and profit-sharing plan. More commonly referred to as a SEP. Absolute - answerAn absolute assignment occurs when the policyowner assigns all rights including cash values to another person or entity. Synon...

Define Aleatory contract. - An Aleatory contract is a contract in which participating parties exchange unequal amounts. Insurance contracts are aleatory in that the amount the insured will pay in premiums is is unequal to the amount the insurer will pay in the event of a loss. Define warranty: - A material stipulation in the policy that if breached may void coverage. During the Accumulation (Pay in)period of an annuity, there must be a designated - Beneficiary Identify the difference betwee...

Florida 2-15 Overview/ Study Guide (Fool Proof Guide): Annuities Questions With Complete Solutions Annuity - ANSWER A savings plan within an insurance company instead of a bank. - An annuity is not considered insurance, but the life insurance industry handles them Fixed Annuity - ANSWER A savings plan with an insurance company with a minimum guaranteed interest rate Accumulation Period - ANSWER The period in an annuity where the savings is building Annuity Period - ANSWER The payout ...

1 PENNSYLVANIA STATE HEALTH AND LIFE INSURANCE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Which of the following must be present in all medicare supplement plans? Correct Answer: Plan A What was created to keep telemarketers from calling consumers who do not wish to be contacted? Correct Answer: National Do not call registry Which insurance principle states that if a policy allows for greater compensation than the financial loss incurred, the insured may o...

WEBCE LIFE AND HEALTH EXAM WITH 100% CORRECT ANSWERS 2023 Representations and Warranties - Correct Answer-Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments - Correct Answer-Two related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premiu...

When a bond is called, the bondholder receives the: - Answer- Call Price Plus Accrued Interest When issued, which security has a maturity of one year or less? - Answer- Money Markets Instruments Which shares of preferred stock may increase the most if the value of the company's common stock appreciates? - Answer- Convertible preferred stock Which of the following securities trades in fractional units of 1/32 of a point? - Answer- Treasury Bonds The OTC Bulletin Board (OTCBB) is BEST...