the purpose of laws regarding the replacement of life and annuity contracts includes all of the following except
to protect the interests of life
... [Show More] insurance and their agents
all of the following would fall under the category of an adverse underwriting decision except
failure of the agent to submit the application to an insurance company
in order to obtain Group insurance without providing evidence of insurability what do eligible individuals generally have to do
enroll with a specified eligibility.
an agent who acts as an insurance agent broker solicitor life only agent or bail agent acts in which capacity when handling premiums are return premiums for an insured
Fiduciary
in order to determine the amount of premium and insured will pay the insurer multiplies the rate by
the number of exposure units
Viatical settlements are accomplished through the use of
absolute assignment
the conversion privilege allows a person to change coverage from
A group policy to an individual policy
all of the following statements about qualified pension plans are true except
employer contributions are taxable to employees in the year they are contributed
what is the written instrument called in which the insurance contract is set forth
The policy
which nonforfeiture option uses cash surrender value used to purchase paid-up term insurance for a full face amount of the policy
extended term insurance
what is the difference between a defined contribution plan and a defined benefit plan
the penalties for early distribution
a life only agent records must include all of the following except
printed material in Juneau use which has been distributed by then insurer
a worker dies while he is credited with six quarters of the last 13 quarter. What status does the worker have under Social Security
currently insured
a return of Premium Rider is a rider that
Provides for the periodic return of a percentage of the premiums that have been paid if the insured becomes and remains disabled
in agents appointment with an insurer will be discontinued if all of the following circumstances exist except
another insurer submits in employment application
Social Security provides protection against the financial consequences of all of the following except
poor Investments
which retirement plan utilizes nondeductible contributions
Roth IRAs
all of the occurrences listed below are examples of an insurable event as defined by the California insurance code except
and insured suffers a financial loss in the state lottery
the Social Security normal retirement age depends upon
worker's year of birth.
the complete transfer by existing owner of All rights in an insurance policy to another person is
absolute assignment
which retirement plan was designed for employees of Public School Systems
TSA
which settlement option allows only the death benefit earnings to be paid to the beneficiary
interest option
all of the following apply to the life insurance cost of living Rider except
the face value of the policy raises or lowers has the cost of living index increases or decreases
the Social Security blackout. Ends when the surviving spouse reaches the age of
60
retirement benefits under Social Security are available only for workers who are
fully insured
in which plants do employers make specific contributions to an employee's retirement account
defined contribution plan
in a 7 year vesting schedule what percentage of employer contributions must be vested after 7 years of service
100%
a representation in an insurance contract qualifies as which of the following
an implied warranty
a policy holder stops making payments on a 20 pay life policy and converts the cash surrender value to Extended term insurance. all of the following statements are true except
the term policy will have the same loan value as the original policy
which nonforfeiture option uses an existing policies cash value to purchase a paid-up policy with a lower face value than the original policy
reduced paid up Insurance option
what is required when an applicant reveals conditions that require more information
physical examination
which risk classification carries the lowest premium
preferred
which statement best describes a life insurance policy dividend
It is a distribution of excess funds accumulated by the insurer on participating policies
every person was in violation of section 770 of the California insurance code what action would the insurance commissioner most likely take if the violation dealt with loans on the security of real or personal property
issue a cease-and-desist order for a violation of more than one transaction
if no other method of payment is selected which of the following is the automatic mode of settlement for life insurance policy proceeds
lump sum settlement in cash
the process whereby a mutual insurer becomes a stock company is called
Demutualization
any situation that presents the possibility of a loss is known as
risk potential
which statement option allows only the death benefit earnings to be paid to the beneficiary
interest option
an agent acting as an insurance agent broker solicitor life only agent arbel agent acts in which capacity when handling premiums are returned premiums for an insured
fiduciary
according to state law what size prints must be used for licensees license number on all price quotes business cards and printed material
the same size print as the licensees phone number fax number or address [Show Less]