Kentucky l - Study guides, Class notes & Summaries

KENTUCKY LIFE AND HEALTH INSURANCE EXAM VERSIONS A, B AND C EACH 150 REAL EXAM QUESTIONS AND CORRECT ANSWERS ALREADY GRADED A+

KENTUCKY LIFE AND HEALTH INSURANCE EXAM VERSIONS A, B, C AND TWO STUDY GUIDES EACH 150 REAL EXAM QUESTIONS AND CORRECT ANSWERS ALREADY GRADED A+

2024 Life Insurance Exam for Kentucky Company Latest Questions and Answers A. All the incidents of ownership in the policy belong to the donee. - CORRECT ANSWER-In an outright gift of life insurance to a charity A. All the incidents of ownership in the policy belong to the donee. B. The donor retains the right to name a new beneficiary. C. The cash values in the policy belong to the donor. D. The premiums paid by the donor are not tax deductible. C. Making a formal request to the co...

Kentucky Life Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100 % Correct| Grade A Q: Traditional individual retirement annuity (IRA) distributions must start by Answer: April 1st of the year following the year the participant attains age 70 1/2 Q: How are Roth IRA distributions normally taxed? Answer: Distributions are received tax-free Q: How can an insurance company minimize exposure to loss? Answer: Reinsurance Q: Al...

Kentucky Life Insurance Exam Questions and Answers Rated A+ Elements of a Contract Competent parties, legal purpose, offer and acceptance, consideration Waiver Voluntary giving up of a known right or privilege, can be express or implied Estoppel A person is prohibited by virtue of his own past actions from claiming a right that would work to the detriment of another who relied on the past conduct Aleatory Contract a contract where the values exchanged may not be equal but depend on an uncerta...

Kentucky Life and Health Insurance Exam Prep| Questions and Verified Answers| 100 % Correct| Grade A (Latest 2024/ 2025 Update) Q: what is loss exposure state of being subject to a passible loss Q: what does it mean to be defineable Answer: definite as to time, cause and location Q: what does it mean to be measurable Answer: companies will state how much they will pay for a covered loss Q: is loss due to war covered Answer: no Q: can accidental b...

Kentucky Life & Health Insurance Questions and Answers 100% Pass Life insurance underwriting would consider which of these factors as unimportant? Age of the applicant Weight of the applicant Marital status of the applicant Gender of the applicant Marital status of the applicant The inducement of an insured to lapse, forfeit, or surrender an insurance policy by misrepresentation or misleading comparisons, in order to write a new policy, is known as: Rebating Twisting Commingling Churning...

Kentucky Life Insurance Exam Prep| Questions and Verified Answers| 100 % Correct| Grade A (New 2024/ 2025 Update) QUESTION Nonforfeiture Options Three options available by law to policyowners that enable them to recover a policy's cash-value upon surrender of that policy. (1) Cash (2) Reduced Paid-Up Insurance (3) Extended Term Insurance QUESTION Immediate Annuities Answer: - Can only be funded using the Single Premium payment method - First income payment is ma...

Kentucky Pharmacy Law Graded A+ ️152 tablets, Partial refills of schedules III and IV controlled substance prescriptions are permissible under federal regulations provided that each partial filling is dispensed and recorded in the same manner as a refilling (i.e., date refilled, amount dispensed, initials of dispensing pharmacist, etc.), the total quantity dispensed in all partial fillings does not exceed the total quantity prescribed, and no dispensing occurs after six months pas...

Kentucky Life Insurance Exam Updated Questions and Answers 2024 New Elements of a Contract - CORRECT ANSWER-Competent parties, legal purpose, offer and acceptance, consideration Waiver - CORRECT ANSWER-Voluntary giving up of a known right or privilege, can be express or implied Estoppel - CORRECT ANSWER-A person is prohibited by virtue of his own past actions from claiming a right that would work to the detriment of another who relied on the past conduct Aleatory Contract - CORRECT...