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LIFE PRODUCER GAURANTY EXAM NEWEST 2025
ACTUAL EXAM COMPLETE 100 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+|| NEW VERSION!!!
Over the course of one year, which premium payment
mode is most expensive? - Answer-Monthly
Who is responsible for assembling the policy forms for
insureds? - Answer-Insurance carriers
All of these are valid policy dividend options for a life
insurance policy owner EXCEPT - Answer-accumulate
without interest
What is the primary feature of a viatical settlement? -
Answer-Reduced death benefit prepayment
Converting a group plan to permanent life insurance
requires - Answer-the conversion being applied for within
31 days of termination
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What is involved when a life insurance policy has been
backdated? - Answer-Making the policy effective on an
earlier date than the present
Dana is an employee who deposits a percentage of her
income into her individual annuity. Her company also
contributes a percentage into a separate company
pension plan. What kind of annuity is this considered? -
Answer-Qualified retirement annuity
Within how many days must a Traditional IRA be rolled
over to another IRA in order to avoid tax consequences? -
Answer-60 days
How are contributions made to a Roth IRA handled for tax
purposes? - Answer-not tax deductible
A Life insurance policy that contains a guaranteed interest
rate with the chance to earn a rate that is higher than the
guaranteed rate is called - Answer-Universal Life
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Which one of these is NOT considered to be a common
life insurance nonforfeiture option? - Answer-Life income
annuity
Advertising records are subject to examination by the
Arkansas insurance department & must be maintained for
at least: - Answer-4 years or until next regular examination
by the Department, whichever is longer.
Loans obtained by a policyowner against the cash value of
a life insurance policy - Answer-would not be treated as
taxable income
What type of annuity guarantees a stated number of
income payments, whether or not the annuitant is still alive
to receive them? - Answer-Life annuity certain
Rob has a benefit at work which enables him to defer his
current receipt of income and have it paid at a later date,
when he will probably be in a lower tax bracket. Which
benefit fits this description? - Answer-Deferred
compensation option
LIFE PRODUCER GAURANTY EXAM NEWEST 2025
ACTUAL EXAM COMPLETE 100 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+|| NEW VERSION!!!
Over the course of one year, which premium payment
mode is most expensive? - Answer-Monthly
Who is responsible for assembling the policy forms for
insureds? - Answer-Insurance carriers
All of these are valid policy dividend options for a life
insurance policy owner EXCEPT - Answer-accumulate
without interest
What is the primary feature of a viatical settlement? -
Answer-Reduced death benefit prepayment
Converting a group plan to permanent life insurance
requires - Answer-the conversion being applied for within
31 days of termination
,2|Page
What is involved when a life insurance policy has been
backdated? - Answer-Making the policy effective on an
earlier date than the present
Dana is an employee who deposits a percentage of her
income into her individual annuity. Her company also
contributes a percentage into a separate company
pension plan. What kind of annuity is this considered? -
Answer-Qualified retirement annuity
Within how many days must a Traditional IRA be rolled
over to another IRA in order to avoid tax consequences? -
Answer-60 days
How are contributions made to a Roth IRA handled for tax
purposes? - Answer-not tax deductible
A Life insurance policy that contains a guaranteed interest
rate with the chance to earn a rate that is higher than the
guaranteed rate is called - Answer-Universal Life
, 3|Page
Which one of these is NOT considered to be a common
life insurance nonforfeiture option? - Answer-Life income
annuity
Advertising records are subject to examination by the
Arkansas insurance department & must be maintained for
at least: - Answer-4 years or until next regular examination
by the Department, whichever is longer.
Loans obtained by a policyowner against the cash value of
a life insurance policy - Answer-would not be treated as
taxable income
What type of annuity guarantees a stated number of
income payments, whether or not the annuitant is still alive
to receive them? - Answer-Life annuity certain
Rob has a benefit at work which enables him to defer his
current receipt of income and have it paid at a later date,
when he will probably be in a lower tax bracket. Which
benefit fits this description? - Answer-Deferred
compensation option
