Annuity agent training - Study guides, Class notes & Summaries

Michigan Variable Annuities Exam fully solved graded A+ 2023/2024 guaranteed a+ guaranteed death benefit - ANS-protects the principal against loss due to market declines; assures contact owner that his/her beneficiaries will receive at least the amount originally invested in the annuity if death occurs before the contract's maturity date (standard death benefit payable is usual greater of 1) the amount of prems paid, less any withdrawls; or 2) the contract's accumulated va...

Maryland Life and Health Insurance Practice Questions and Answers 100% Pass The contractual rights which allow the owner of a deferred annuity to surrender the cash value several years before the annuity date are called - Correct Answer ️️ - Nonforfeiture Options How many days does the ACA require insurers to give before rescinding coverage? - Correct Answer ️️ -30 Under an adjustable life insurance policy, these may be changed without further writing - Correct Answer ️️ -the...

Maryland Life and Health Insurance Practice Exam Questions and Answers Graded A+ The contractual rights which allow the owner of a deferred annuity to surrender the cash value several years before the annuity date are called - Correct Answer ️️ - Nonforfeiture Options How many days does the ACA require insurers to give before rescinding coverage? - Correct Answer ️️ -30 Under an adjustable life insurance policy, these may be changed without further writing - Correct Answer ️️...

401(k) Plan - answerCODA 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 ...

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...

Process 2103 (d-i) - 1. The Superintendent may issue a license to any person, firm or corporation who has complied with the requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer. Every individual applicant for a license under this section and every proposed sub-licensee must be 18 years of age or older at the time of issuance of such license. The person must submit to and pass a written examination required by the Superintendent. Producer Defin...

NY Life, Accident, and Health Insurance Agent/Broker Exam Series 17-55 Already Passed Process 2103 (d-i) - Answer ️️ -1. The Superintendent may issue a license to any person, firm or corporation who has complied with the requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer. Every individual applicant for a license under this section and every proposed sub-licensee must be 18 years of age or older at the time of issuance of such license....

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...

Brad is an agent working with a large general agency. He has just saw a very large life insurance policy to a client who is later discovered to be part of a terrorist network. And restaurant back to the same of this life policy could be viewed as which of the following - Answer - Placement All of the following are descriptive of the anti-money laundering program required by the regulation except - Answer - One size fits all The purpose of which of the following components of the AML progra...

Review AML Exam Questions And Answers Brad is an agent working with a large general agency. He has just saw a very large life insurance policy to a client who is later discovered to be part of a terrorist network. And restaurant back to the same of this life policy could be viewed as which of the following Placement All of the following are descriptive of the anti-money laundering program required by the regulation except One size fits all Brainpower Read More Previous ...