An agent who violates the laws governing life insurance policy illustrations is subject to all of the
following EXCEPT -
✔✔
mandatory termination of all insurer appointments
Which policy is a saving instrument designed to first accumulate funds and then systematically to
liquidate the funds? -
✔✔
deferred annuity
individual life insurance policies sold to seniors in the State of California must include a prominently
place statement that divulges all of the following information EXCEPT -
✔✔
proof of surrender must be
notarized at the agent's principal office
People commonly purchase an annuity to protect against the risk of -
✔✔
outliving their financial
resources
What is one difference between group life an individual life underwriting? -
✔✔
individual life insurance
requires the applicant to answer medical questions
A $50,000 whole life policy with a cash value of $10,000 has been in force for eleven years. The
policyowner is unable to continue the premium payments. Which of the following describes the reduced
paid-up nonforfeiture option? -
✔✔
The cash value is used to select a $20,000 paid-up policy
Which of the following is a characteristic of nonqualified annuities? -
✔✔
Tax-deferred earnings
A 10-year certain annuity an installment refund is purchased. The annuitant dies after receiving monthly
payments for 5 years. How many remaining payments will the insurer make? -
✔✔
60 payments
The payor rider on a juvenile life policy provides that if the payor dies or becomes disabled before the
insured juvenile reaches the age specified on the policy that the -
✔✔
insurer will make the payments
until the insured juvenile reaches a specified age usually twenty-one or twenty-five.
Which of the following contracts provided benefits that fluctuate automatically with investment results?
-
✔✔
Variable life insurance
