FINAL EXAM MA LAWS AND RULES 100%
CORRECT!
, irrevocable beneficiary - ANSWER when a policy is requested by a policy owner and it
requires the consent of the beneficiary, what kind of beneficiary is this
trust administration fees would reduce policy proceeds - ANSWER what would be a
disadvantage of naming a trust as beneficiary of a life insurance policy?
Eating - ANSWER Which is considered an activity of daily living when determining an
accelerated life insurance benefit
15 years - ANSWER The maximum prison sentence given under federal law for unfair
and deceptive insurance practices is
that the chance of loss be calculable - ANSWER An insurable risk requires
prior to or at the time of signing the application - ANSWER A life insurance producer is
required to give a disclosure notice about info practices to an applicant
cover the cost of unexpected expenses - ANSWER According to the needs approach,
an emergency reserve find's primary purpose is to
insurance coverage can continue for life - ANSWER which statement regarding whole
life insurance is accurate?
may result in the disclosure of hazardous activities of the applicant - ANSWER field
underwriting by a producer...
Dividend is issued, a cash value loan is taken out, automatic premium loan provision is
utilized - ANSWER Taxable income may be the result from all these modified
endowment contract MEC transactions
Life Income - ANSWER what is another term used for a pure life annuity ?
asking relevant questions concerning an applicants hobby, requesting an attending
physicians report (APR), ordering an inspection report - ANSWER These are an
underwriting responsibilities of a life insurance agent
prohibited by law - ANSWER a producer has indicated to a potential client that the
proposed life insurance policy is covered by the MA life and health guaranty
association. This action by the producer is
CORRECT!
, irrevocable beneficiary - ANSWER when a policy is requested by a policy owner and it
requires the consent of the beneficiary, what kind of beneficiary is this
trust administration fees would reduce policy proceeds - ANSWER what would be a
disadvantage of naming a trust as beneficiary of a life insurance policy?
Eating - ANSWER Which is considered an activity of daily living when determining an
accelerated life insurance benefit
15 years - ANSWER The maximum prison sentence given under federal law for unfair
and deceptive insurance practices is
that the chance of loss be calculable - ANSWER An insurable risk requires
prior to or at the time of signing the application - ANSWER A life insurance producer is
required to give a disclosure notice about info practices to an applicant
cover the cost of unexpected expenses - ANSWER According to the needs approach,
an emergency reserve find's primary purpose is to
insurance coverage can continue for life - ANSWER which statement regarding whole
life insurance is accurate?
may result in the disclosure of hazardous activities of the applicant - ANSWER field
underwriting by a producer...
Dividend is issued, a cash value loan is taken out, automatic premium loan provision is
utilized - ANSWER Taxable income may be the result from all these modified
endowment contract MEC transactions
Life Income - ANSWER what is another term used for a pure life annuity ?
asking relevant questions concerning an applicants hobby, requesting an attending
physicians report (APR), ordering an inspection report - ANSWER These are an
underwriting responsibilities of a life insurance agent
prohibited by law - ANSWER a producer has indicated to a potential client that the
proposed life insurance policy is covered by the MA life and health guaranty
association. This action by the producer is
