Georgia Life Insurance Exam- 2024 with 100% correct answers

An insurance producer selling a Variable Annuity whose cash value depends on the performance of an underlying investment account must be registered with: - correct answer The Financial Industry Regulatory Authority (FINRA, formerly the NASD) A life insurance policy whose cash value will fluctuate depending upon the performance of a separate account is: - correct answer Variable Life John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The cash value will equal the face amount of the policy when he reaches the age of: - correct answer 100 Which of the following types of insurance policies would provide the greatest amount of protection for a temporary period during which an insured will have limited financial resources? - correct answer Term Which of the following statements about a Renewable Term policy is true? - correct answer It is renewable at the option of the insured An Annuity is designed to provide which of the following financial features? I. The liquidation of principal and interest II. Favorable tax treatment III. The creation of an estate - correct answer I and II A 45-year old customer who is seeking to supplement his retirement income at age 65 would not buy a: - correct answer Immediate Annuity