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Exam (elaborations)

LIFE INSURANCE PRACTICE EXAM

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Insurable Receipt - The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Representations - Statements in the application for insurance that are believed to be true to the best of the applicants knowledge are Provide the annuitant with an interest rate that is lesser of the guaranteed or current rate - An annuity is considered fixed when it does all of the following EXCEPT Continuous Premium (straight) life - The most common type of whole life insurance where premiums are payable over the whole life of the insured to age 100 is called. Entire contract - The policy and a copy of the application, along with any riders and amendments, is called the Not taxable - Money borrowed from the policy's cash value is All annuities (Variable, Refereed & Equity Indexed) - Which of the following annuity products requires an agent to hold a securities license? Life income annuity - Which type of annuity settlement stops when the annuitant dies? 59 1/2 - At what age can a participant receive distributions from a qualified plan without incurring a 10% penalty Buy-Sell Agreement - Two business partners own life insurance on each other. If one partner dies, which of the following contracts will allow the surviving partner to use the death benefit to purchase the deceased's business interests? Adjustable life - Which type of policy allows the insured to change the amount of the dwah benefit, the amount of premium, or the type of coverage S their needs change? Either the cash value or the

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PACTS
Plot,storyline or series of events in a story Standard Plot Graph,introduction, inciting incident, rising
action, climax, story question, falling action, resolution Conflict,A struggle between opposing forces
Types of Conflict,Human vs Human Human vs Nature Human vs Society Human vs Self Human vs
Technology Human vs Supernatural Perspective,The point of view in which a story is told Types of
Perspective,* 1st person - narrated by a character (i, we) * 2nd person - narrator speaks directly to
reader (you) * 3rd person limited omniscient - narrator is apart of the story * 3rd person omniscient -
narrator is not apart of story Armosphere,The mood of the story is created by the setting, plot events
and emotions of the characters (tone) Character,A person in a story Types of Characters,static, flat: a
character who does not change throughout the story dynamic, round: a character who changes as the
story progresses Central Characters,1. Protagonist - main character 2. Antagonist - opposes the
protagonist Theme,ONE SENTENCE that the author is converting about the central subject in the work.
Setting,The time and place in which a story takes place 3 Elements of Setting,Time, Place, Environment
(weather, society, noise level)

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