- All Exams Instant Download
Which of the following dividend options is taxable?
Which of the following dividend options is taxable?A . 1-year term.B . Paid up additions.C . Return of premium.D . Accumulation at interest.View AnswerAnswer: D
An agent's actions or deeds demonstrate what kind of authority?
An agent's actions or deeds demonstrate what kind of authority?A . apparentB . delegatedC . expressD . inherentView AnswerAnswer: A
The accumulated cash value of a whole life insurance policy becomes the
The accumulated cash value of a whole life insurance policy becomes theA . policy loan value upon which the insured may borrow.B . amount used to purchase paid up additions to the insured's policy.C . funds used to offset policy administration and conversion expenses.D . face amount payable upon the...
The premium mode defines the
The premium mode defines theA . premium limit.B . premium amount.C . frequency of the premium payment.D . method of premium payment.View AnswerAnswer: C
Deliberate withholding of material facts that would affect the validity of an Insurance policy or a claim under the policy Is known as
Deliberate withholding of material facts that would affect the validity of an Insurance policy or a claim under the policy Is known asA . slanting.B . concealment.C . misrepresentation.D . aleatory contract.View AnswerAnswer: B
The settlement option that allows proceeds to remain with the Insurer and the earnings to be paid to the beneficiary on a monthly basis is called
The settlement option that allows proceeds to remain with the Insurer and the earnings to be paid to the beneficiary on a monthly basis is calledA . interest only.B . lump sum.C . fixed period.D . fixed amount.View AnswerAnswer: A
While texting and driving, an Insured loses control of the vehicle and hits a tree. The resulting collision Is
While texting and driving, an Insured loses control of the vehicle and hits a tree. The resulting collision IsA . an exposure.B . a hazard.C . a peril.D . a risk.View AnswerAnswer: C
Under what circumstances must an agent provide his or her business records to the superintendent of Insurance?
Under what circumstances must an agent provide his or her business records to the superintendent of Insurance?A . upon request of an insuredB . upon request of the superintendentC . under no circumstances due to privacy considerationD . by authorization from the National Association of Insurance Commissioners (NAIC)View AnswerAnswer:...
When a beneficiary Inherits a traditional IRA, which of the following Is TRUE about taxation when the money is withdrawn? The beneficiary pays
When a beneficiary Inherits a traditional IRA, which of the following Is TRUE about taxation when the money is withdrawn? The beneficiary paysA . no tax.B . an estate tax.C . capital gains tax.D . income tax.View AnswerAnswer: D
When a policy owner requests a partial surrender from her Universal Life Policy she Is requesting which of the following?
When a policy owner requests a partial surrender from her Universal Life Policy she Is requesting which of the following?A . Cash withdrawal.B . A loan from the policy.C . Surrender of the policy.D . Decrease In the coverage amount.View AnswerAnswer: A
