PA Life Insurance Exam Questions and Answers Already Passed

PA Life Insurance Exam Questions and Answers Already Passed Single premium cash value policy can be described as.. a policy that is paid up only after one payment All of the following are considered appropriate uses of life insurance.. - attracting quality employees by offering a group life plan - protecting the business by covering key employees with life insurance - funding an entity buy sell agreement The do not call list offers exemption from all except life insurance Ken is a producer who has consumer info reports under false pretenses under the fair credit reporting act, what is the max penalty.. $5000 & 1 year in jail Which type of annuity guarantees a stated number of income payments whether or not the annuitant is still alive to receive it life annuity certain In what part of the policy are the policy benefits found conditions Commissioner is responsible for all of the following.. - issue cease & desist orders - conduct hearings - regulate premium rates Maria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called.. annuity certain Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? guaranteed insurability Pat owns a 20 pay life policy with a paid dividend option. Which of the following statements is true? the policy may be paid up early by using policy dividends A renewable term life insurance policy can be renewed anytime the policy owners request What would a be an expense factor in an insurance program mortality costs Which of the following is an annuity that is linked to a market related index.. equity index annuity Agreements made by terminally ill persons to sell their life insurance policies at a discount in order to pay medical expenses is called.. viatical settlements Variable life insurance & universal life insurance are similar. Which of these are held exclusively by variable universal life insurance.. Policyowner has the right to select the investments which will provide the the greatest return An accelerated death benefit in PA must be at least what percentage of the total death benefit.. 25% A producer's license CANNOT be revoked without a hearing given to the producer Mike has inherited his father's traditional IRA. As a beneficiary, he will pay taxes on any money withdrawn income