Nevada XCEL Exam Study Guide | Questions with 100% Correct Answers | Verified | Latest Update 2024 | 40 Pages

An incomplete life insurance app submitted to an insurer will result in which of these actions? - App will be returned to the writing agent Which of the following is an ex of defamation? (A) Circulating brochures falsely denouncing financial condition of an insurer (B) Making statements that encourage purchase of term life insurance over whole life (C) Issuing pamphlets containing false info about term life (D) Publishing a newsletter that makes reference to reputable brokers in area - Circulating brochures falsely denouncing financial condition of an insurer Which statement about a whole life policy is correct? (A) Bene may be changed only w/consent of premium payor (B) Premiums are flexible (C) Cash value may be borrowed against (D) Death benefit can usually be adjusted - Cash value may be borrowed against Who signs a "Notice Regarding Replacement" form when an application is taken for a new life insurance policy that replaces an existing one? (A) Beneficiary (B) Applicant only (C) Producer only (D) Producer and applicant - Producer and applicant Under federal tax laws, what is the tax treatment for an employer providing $50,000 of a contributory group Term Life plan to all its eligible employees? (A) Portion of death proceeds are taxable to bene