Accident, Life, and Health Insurance Questions and Answers Verified 2023

Accident, Life, and Health Insurance Questions and Answers Verified 2023. Premiums paid by self-employed sole proprietors or partners for medical expense insurance are - answera) Not tax deductible b) Partially tax deductible c) Totally tax deductible d) Taxable c) Totally tax deductible - answerc) What is the purpose of a conditional receipt - answera) It is given by the agent only to applicants who fully prepay all scheduled premiums in advance of policy issue b) It is intended to provide coverage on a date earlier than the date of the issuance of the policy c) It guarantees the applicant that the policy will be issued in the amount applied for in the application d) It serves as proof that the agent has determined the applicant to be fully insurable for coverage by the insurance company b) - answerb) What method is used to determine the taxable portion of each annuity payment? - answera) The excise ratio b) The annuity ratio c) The marginal tax formula d) The exclusion ratio d) - answerd) An insurance producer is also the instructor of a 3-hour ethics course held once a year. To maintain certification, the producer - answera) Must take 24 hours of continuing education courses b) Is not required to take any continuing education courses c) May apply for a continuing education waiver from the Insurance Commissioner d) Must take 18 hours of continuing education courses