Period certain annuity - Study guides, Class notes & Summaries
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PSI Life Exam Questions and Answers 2022/2023
- Exam (elaborations) • 9 pages • 2022
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What kind of retirement plan can a 75-employee for profit corporation establish? - ANSWER-Simple IRA 
 
The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the - ANSWER-Exclusion ratio 
 
Unfair claims settlement methods and practices by an insurance company include all of the following acts EXCEPT - ANSWER-failure to pay all claims that are reported within 90 days after a loss occurs 
 
The settlement option that allows p...
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XCEL Ohio Proctor Questions and Answers Graded A+
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XCEL Ohio Proctor Questions and Answers Graded A+ Under a Modified Endowment Contract, what are the likely tax consequences? •Pre-death distributions will become taxable 
To receive proceeds from a death benefit, a minor •must have an appointed guardian 
Under a Modified Endowment Contract, what are the likely tax consequences? Pre-death distributions will become taxable 
To receive proceeds from a death benefit, a minor must have an appointed guardian 
A provision that allows a policyowner ...
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Michigan Life Insurance State Exam Solved 100% Correct
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Under a traditional IRA, interest is taxed: 
 
Only if withdrawn prior to age 59 1/2 
 
According to the capital gains rate 
 
Upon distribution 
 
During the accumulation phase - ANSWER-Upon distribution 
 
Which of these statements concerning Traditional IRAs is CORRECT? 
 
Earnings are not taxable when withdrawn 
 
Earnings are taxable when withdrawn 
 
Contribution are never tax deductible 
 
Contributions are always made by the employer - ANSWER-Earnings are taxable when withdrawn 
 
Wh...
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Primerica Practice Exam Test A 75 Questions & Answers 2023
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Primerica Practice Exam Test A 75 Questions & 
Answers 2023 
1. An annuity that is purchased with a lump sum premium and whose benefits begin 
after 12 months is called a: 
A. Single premium immediate annuity. 
B. Single premium deferred annuity. 
C. Level premium variable annuity. 
D. Flexible premium fixed annuity. - Correct answer-Single premium deferred annuity 
2. A technique used to determine the amount of life insurance needed by focusing on 
the projected earning potential of an insured ...
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California Life, Accident, and Health Insurance Final Exam Questions and Answers Already Passed
- Exam (elaborations) • 26 pages • 2023
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California Life, Accident, and Health Insurance Final Exam Questions and Answers Already Passed What distinguishes a deferred annuity from an immediate annuity? The time at which benefit payments start 
Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? 60 payments 
What is a common reason people purchase an annuity? To protect against the risk of outlivin...
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CA Life and Health Exam Questions and Answers Already Passed
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CA Life and Health Exam Questions and Answers Already Passed What is insurance? Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. 
What's the difference between pure risk and speculative risk? Pure risk is when you'll lose it all or there will be no change. Speculative risk you can either win or lose. 
What is peril? peril is the causes of loss insured against in an insurance policy 
What is hazard? conditions that increase the pr...
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Florida Life, Health and Variable Annuity Exam Correct !!
- Exam (elaborations) • 15 pages • 2023
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Entire Contract Provision - ANSWER found at the beginning of the policy, saying that the policy cannot refer to any outside documents as being part of the contract and prohibiting the insurer from making any changes to the policy after it has been issued. (can only make good changes not bad) 
 
Insuring Clause - ANSWER sets forth the company's basic promise to pay benefits upon the insured's death. 
 
Free-Look Provision - ANSWER gives policyowners the right to return the policy for a full pre...
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Exam FX Insurance- Wisconsin Life questions (Answered). 100% Accurate, Graded A
- Exam (elaborations) • 69 pages • 2023
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Exam FX Insurance- Wisconsin Life questions (Answered). 100% Accurate, Graded A 
 
 
An insurer decides to renew a policy but at a higher premium rate, starting on the renewal date. How many days in advance must the insured be notified? 
 
a) 30 
b) 60 
c) 90 
d) 100 - -b 
 
How is the Commissioner of Insurance placed in office? 
 
a)By NAIC nomination 
b)Through a bid process 
c)An election at the same time that other state officials are selected 
d)An appointment by the Governor - -d 
 
An ins...
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NC LIFE insurance state exam questions and answers 100% pass
- Exam (elaborations) • 14 pages • 2023
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NC LIFE insurance state exam questions and answers 100% pass CREDIT LIFE a special type of coverage written to the life of the debtor and pay off the balance of a loan in the event of the death of the debtor. 
BUY-SELL AGREEMENTS a legal contract that determines what will be done with a business in the event that an owner dies or becomes disabled. Otherwise known as a business continuation agreement 
INSURABLE INTEREST to purchase insurance the policy owner must face the possibility of losing mo...
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Texas Life And Health Insurance Exam Questions With Correct Answers | Latest 2023/2024 (Graded A+)
- Exam (elaborations) • 23 pages • 2023
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Texas Life And Health Insurance Exam Questions With Correct Answers | Latest 2023/2024 (Graded A+). Which of the following actions is NOT possible with a Universal Life policy? - Correct 
Answer-Premiums may be applied as a credit against income tax 
Which of the following will a Long Term Care plan typically provide benefits for? - 
Correct Answer-home health care 
Which health policy clause stipulates that an insurance company must attach a copy of 
the application to the policy to ensure that...
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