ALASKA LIFE AND HEALTH INSURANCE STATE EXAM 2024 WITH 100% CORRECT ANSWERS

___ is the act of offering an applicant something of value as an inducement to purchase an insurance policy - correct answer Rebating ___ is the authority given to a producer to transact business on behalf of the insurer. - correct answer appointment ___ of personal life insurance premiums is usually deductible for federal income tax purposes. - correct answer 0% ___is the act of replacing existing life insurance with a new life insurance policy based upon incomplete or incorrect representations. - correct answer Twisting A producer does not have the authority to change a policy or waive any of its provisions. The health provision that best describes this statement is called the - correct answer Entire Contract A "reimbursement policy" pays what amount of covered Long-Term Care expenses? - correct answer Actual covered expenses up to the daily maximum A $20,000 life insurance policy application is completed, however the producer does not collect the initial premium. At what point does the coverage go into effect? - correct answer When the applicant receives the policy and pays the initial premium A 15-year mortgage is best protected by what kind of life policy? - correct answer 15-year decreasing term A 45 y