1135 Life & Health Insurance Exam.pdf Page 1 of 65 1135 Life & Health Insurance Exam.pdf
1135 Life & Health Insurance Exam
The policy's surrender charges
Which of these must be disclosed in a company's universal life policy?i
Decreasing term
Which type of life insurance typically offers mortgage protection?
Policyowners
Dividends from a mutual insurance company are paid to whom?
Policy loans are not permitted
These are all accurate statements regarding universal life insurance EXCEPT
A pension deficiency if the key employee dies
Which of these is NOT a reason for a business to buy key person life insurance?
Page 1 of 65 1135 Life & Health Insurance Exam 1135 Life & Health Insurance Exam.pdf
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Lifelong friendship
Which of these do NOT indicate the presence of insurable interest in a life insurance contract?
Policyowners are given the option of alternating between forms of term and whole life insurance
Which of these statements is true regarding an adjustable life insurance policy?
Local unemployment rate
Which of these is NOT relevant when determining the amount of personal life insurance needed?
Implied
XYZ Insurance Company gives direct authority to its producers to sell insurance through an agency
contract, but nothing is stated regarding the collection of premiums. Which authority grants the
producer the right to collect premiums?
Variable universal life
What kind of life insurance policy allows the policyowner the choice of investments along with
adjustable premiums?
how much life insurance a client should apply for
Page 2 of 65 1135 Life & Health Insurance Exam 1135 Life & Health Insurance Exam.pdf
,1135 Life & Health Insurance Exam.pdf Page 3 of 65 1135 Life & Health Insurance Exam.pdf
In life insurance, the needs approach is used mostly to establish
The face amount and premiums can be changed simultaneously by the policyowner
Which statement concerning adjustable life insurance is accurate?
Involves the potential for the unequal exchange of value
In what way are insurance policies said to be aleatory?
Evidence of insurability is always necessary when there is a change in premium
Which statement concerning an adjustable life insurance policy is FALSE?
None
When funds are shifted straight from one IRA to another IRA, what percentage of the tax is withheld?
Survivorship life policy is lower
How does the cost for a survivorship life policy compare to the cost of combining two separate life
insurance policies?
Page 3 of 65 1135 Life & Health Insurance Exam 1135 Life & Health Insurance Exam.pdf
, 1135 Life & Health Insurance Exam.pdf Page 4 of 65 1135 Life & Health Insurance Exam.pdf
are restricted to maximum levels set by the IRS
In a qualified retirement plan, the yearly contributions to an employee's account
when the agency contract is vague concerning the authority given
An insurance company can be liable for a producer's unauthorized acts
20% is withheld for income taxes
An individual participant personally received eligible rollover funds from a profit-sharing plan. What is
the income tax withholding requirements for this transaction?
100%
What minimum percentage of all eligible employees must participate in a group life insurance plan if the
premiums are completely paid for by the employer?
Initial cost is lower than for an equivalent amount of term insurance
All of these are considered features of whole life insurance EXCEPT
Page 4 of 65 1135 Life & Health Insurance Exam 1135 Life & Health Insurance Exam.pdf
1135 Life & Health Insurance Exam
The policy's surrender charges
Which of these must be disclosed in a company's universal life policy?i
Decreasing term
Which type of life insurance typically offers mortgage protection?
Policyowners
Dividends from a mutual insurance company are paid to whom?
Policy loans are not permitted
These are all accurate statements regarding universal life insurance EXCEPT
A pension deficiency if the key employee dies
Which of these is NOT a reason for a business to buy key person life insurance?
Page 1 of 65 1135 Life & Health Insurance Exam 1135 Life & Health Insurance Exam.pdf
,1135 Life & Health Insurance Exam.pdf Page 2 of 65 1135 Life & Health Insurance Exam.pdf
Lifelong friendship
Which of these do NOT indicate the presence of insurable interest in a life insurance contract?
Policyowners are given the option of alternating between forms of term and whole life insurance
Which of these statements is true regarding an adjustable life insurance policy?
Local unemployment rate
Which of these is NOT relevant when determining the amount of personal life insurance needed?
Implied
XYZ Insurance Company gives direct authority to its producers to sell insurance through an agency
contract, but nothing is stated regarding the collection of premiums. Which authority grants the
producer the right to collect premiums?
Variable universal life
What kind of life insurance policy allows the policyowner the choice of investments along with
adjustable premiums?
how much life insurance a client should apply for
Page 2 of 65 1135 Life & Health Insurance Exam 1135 Life & Health Insurance Exam.pdf
,1135 Life & Health Insurance Exam.pdf Page 3 of 65 1135 Life & Health Insurance Exam.pdf
In life insurance, the needs approach is used mostly to establish
The face amount and premiums can be changed simultaneously by the policyowner
Which statement concerning adjustable life insurance is accurate?
Involves the potential for the unequal exchange of value
In what way are insurance policies said to be aleatory?
Evidence of insurability is always necessary when there is a change in premium
Which statement concerning an adjustable life insurance policy is FALSE?
None
When funds are shifted straight from one IRA to another IRA, what percentage of the tax is withheld?
Survivorship life policy is lower
How does the cost for a survivorship life policy compare to the cost of combining two separate life
insurance policies?
Page 3 of 65 1135 Life & Health Insurance Exam 1135 Life & Health Insurance Exam.pdf
, 1135 Life & Health Insurance Exam.pdf Page 4 of 65 1135 Life & Health Insurance Exam.pdf
are restricted to maximum levels set by the IRS
In a qualified retirement plan, the yearly contributions to an employee's account
when the agency contract is vague concerning the authority given
An insurance company can be liable for a producer's unauthorized acts
20% is withheld for income taxes
An individual participant personally received eligible rollover funds from a profit-sharing plan. What is
the income tax withholding requirements for this transaction?
100%
What minimum percentage of all eligible employees must participate in a group life insurance plan if the
premiums are completely paid for by the employer?
Initial cost is lower than for an equivalent amount of term insurance
All of these are considered features of whole life insurance EXCEPT
Page 4 of 65 1135 Life & Health Insurance Exam 1135 Life & Health Insurance Exam.pdf
