Variable life licensing - Study guides, Class notes & Summaries

H has suffered a covered disability away from her job and will shortly begin collecting benefits. The insurer sends a letter to H stating that she will not receive any benefit amounts greater than her income. This clause is known as: A: Over-insurance clause B: free look C: relation of earning to insurance D: relation of economic value - answer-C: relation of earning to insurance The insured should be aware of the issue date upon delivery a policy and the date should be listed on: A: the...

NJ Life Producer Exam Questions and Answers Graded A+ Under a Traditional IRA, interest earned is taxed upon distribution Which of these statements regarding the annuitants is CORRECT? The annuitant's life expectancy determines the annuity payment What will the beneficiary receive is annuitant dies during the accumulation period? The greater the accumulated cash value or the total premium paid Which of the following actions is REQUIRED by an agent who is replacing an existing li...

IC VARIABLE LIFE LICENSING MOCK EXAM QUESTIONS AND ANSWERS 2024 WITH COMPLETE SOLUTION

Variable Life Licensing Mock Exam - Questions with Verified Answers Variable life insurance policy owners may make withdrawals in terms of. a. Number of units or fixed monetary amount through cancellation of units b. Number of units of fixed monetary through reduction of the life cover sum assured c. Fixed monetary amount only through reduction of the life cover sum assured d. Number of units through cancellation of units Which of the following statements about flexibility features of variable...

NJ Life Producer Exam Study Life Insurance Questions and Answers 100% Pass An insurer must renew a renewable term policy at the policyowner's request regardless of the insurability status of the insured. Renewable Term Life Insurance The settlement option that provides for payments to be made in regular installments to a beneficiary until the principal and interest are exhausted best describes: Fixed-amount What hours of operation is a branch office required to have? Must give pu...

Variable life insurance policy owners may make withdrawals in terms of _____ - Number of units through cancellation of units Which of the following statements about flexibility features of variable life policies is false? - Policyholders can take loans against their variable life up to the entire withdrawal value of their policies The investment returns under variable life insurance policy: I. Are not guaranteed II. Are assured III. Are linked to the performance to of the investment fun...

IC VUL Variable Life Licensing Mock Exam Set D Questions and Answers (2022/2023) (Verified Answers)

Washington State Property & Casualty Insurance Exam 100% correct answers Authorized Insurer An insurer that has qualified and received a Certificate of Authority from the Department of Insurance to transact insurance in the state. Contact adhesion the accepter of the contract must "adhere" to the written contract inducement An action aimed at persuading insolvent Bankrupt; unable to pay debts. Transacting Insurance Conducting insurance business, such as solicit...

Which of the following situations presents a situation of pure risk? -knowing that his family is depending on him, Frank wants to insure his life -wanting to increase his retirement savings, Saul invests his life savings in the stock market -Ralph takes a second mortgage on his house and uses the proceeds to gamble -wanting better job security, Ron cashes in his life insurance to start his own business Correct Answer knowing that his family is depending on him, Frank wants to insure his ow...

CPCE Sample Test Questions and Answers 2023 Kohlberg's theory of moral development includes 3 progressive levels culminating in... A. self-actualization, wherein the individual is fully humanistic. B. principled thought, wherein the individual adopts a self- accepted set of standards of behavior. C. androgyny, wherein the individual exhibits both male and female stereotypic behaviors. D. personhood, wherein the individual is free from moral dilemmas. B A professional counselor de...

ETS MFT BUSINESS EXAM The principal difference between variable costing and absorption costing centers on: a) whether variable manufacturing costs should be included as product costs b) whether fixed manufacturing costs should be included as product costs c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs d) none of these. General Bikes is debating which marketing research options to employ. The traditional p...