403b plan - Study guides, Class notes & Summaries

California Life, Accident and Health Course Exam 1-3|130 Question 2024 Update 100% Correct 105. Question #90543 The formula that is used to determine how much is taxable during the payout is the: AMortality ratio B7 pay test CMorbidity ratio DExclusion ratio: d Explanation: The exclusion ratio is the formula which is used by the IRS to determine how much is taxable to an annuitant during the pay out period. 106. Question #90627 During the waiting (elimination) period: AThe insure...

Life and Health License Maine Solved 100% Correct!! Lapse policy termination due to nonpayment of premium Premium amount paid to the insurance company for the insurance policy "Insurance Transaction" (by email or other means) Solicitation Negotiations Sale Advising an individual concerning coverage or claims Elements of legal contract to be legally binding (4 Essential elements) 1. Agreement 2. Consideration 3. Competent Parties 4. Legal Purpose Consideration (contract) Is ...

Life Insurance Final Exam Questions and Answers Already Passed A person who is in good health and does not drink nor smoke is considered a preferred risk Upon death of an annuitant during the accumulation period of a deferred annuity, the proceeds: Are taxable to the beneficiary above the annuitants cost basis Life insurance sold to fund a small partnership buy/sell agreement is also called Cross purchase plan Although excluded in the contract, a court may direct the insurer to pay a claim un...

Payroll Concept Workers Status - Form SS8 is the IRS determination of EE or IC status. Reasonal Basis Test aka Safe Harbor Rules Sec 530-Alls ee to be treated like a IC for specific reasons such as a court order, IRS audit results, Attorney or CPA advisement, or long standing industry standard for that job role. Common Law Test- see chart for example EE is required to comply with ER instructions about when where and how to work. IC sets own hours determines own sequence of work. Form W9 req...

FPC Practice questions & Answers cafeteria plan are authorized by what Internal Revenue Code Section? A. 125 B. 401k C. 403b D. 457b a. 125 all of the following are tax implications of a cafeteria plan except: a. no income tax withholding b. no social security and medicare tax withholding c. must withhold income, social security, and medicare taxes d. no form W2 reporting C. must withhold income, social security, and medicare taxes Previous Play Next Rewind 10 secon...

California Life, Accident and Health Course Exam 1-3|130 Question 2024 Update 100% Correct California Life, Accident and Health Course Exam 1-3|130 Question 2024 Update 100% Correct 105. Question #90543 The formula that is used to determine how much is taxable during the payout is the: AMortality ratio B7 pay test CMorbidity ratio DExclusion ratio: d Explanation: The exclusion ratio is the formula which is used by the IRS to determine how much is taxable to an annuitant during the pa...

Defined Benefit Pension Plans Traditional Retirement plans Used to be common now rare Fixed monthly benefit NO contributions Employer controlled Employee has no control on funds PBGC Defined Contribution Plans 401K or 403B Most common Large Businesses Funded by employee Partial employer match Control over where it goes Tax deductible in that year Once taken out they are taxable income In a defined contribution plan when can you take out retirement without penalties? ...

Life, accident and health insurance Texas General Lines - EXAM 2024 update Life, accident and health insurance Texas General Lines - EXAM 2024 update LIFE SECTION 1 - LIFE SECTION 1 1) Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover a 20- year-amortized $50,000 business-improvement loan. Which of the following plans would adequately protect Ms. Timms at the minimum premium outlay? - A- $50,000 Whole Life policy B- $50,000 Level Term policy for 20 yea...

Life, accident and health insurance Texas General Lines - EXAM 2024 update Life, accident and health insurance Texas General Lines - EXAM 2024 update Email me if you need answers LIFE SECTION 1 - LIFE SECTION 1 1) Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover a 20- year-amortized $50,000 business-improvement loan. Which of the following plans would adequately protect Ms. Timms at the minimum premium outlay? - A- $50,000 Whole Life policy B- $50...

California Life, Accident and Health Course Exam 1-3|130 Question 2024 Update 100% Correct California Life, Accident and Health Course Exam 1-3|130 Question 2024 Update 100% Correct 105. Question #90543 The formula that is used to determine how much is taxable during the payout is the: AMortality ratio B7 pay test CMorbidity ratio DExclusion ratio: d Explanation: The exclusion ratio is the formula which is used by the IRS to determine how much is taxable to an annuitant during the pa...