- Study guides, Class notes & Summaries

Can value guarantees in a whole life policy are called a. nonforfeiture values b. living benefits c. cash loans d. dividends - Answer- a. nonforfeiture values If a life insurance company uses HIV testing as a part of its underwriting, when must an applicant be notified of the procedure? a. prior to solicitation of the policy b. prior notice is not required c. prior performance of the test d. prior to ordering a physical examination - Answer- c. prior performance of the test Whi...

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18 pages

Written in 2023/2024

Grade A+

GEEKA

Which life insurance settlement option guarantees payments for the lifetime of the recepient, But also specifies a guaranteed period, During which, if the original recipient dies, The payments will continue To a designated beneficiary? - Answer- Life income with period certain To which of the following products does the Replacement Regulation apply? - Answer- Whole life insurance What does "liquidity" refer to in a life insurance policy? - Answer- Cash values can be borrowed at any time ...

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3 pages

Written in 2023/2024

Grade A+

GEEKA

ExamFX Bundled Exam Questions WITH CORRECT Answers

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15 items

STANFORDGRADESS

Can value guarantees in a whole life policy are called a. nonforfeiture values b. living benefits c. cash loans d. dividends - ANSWER -a. nonforfeiture values If a life insurance company uses HIV testing as a part of its underwriting, when must an applicant be notified of the procedure? a. prior to solicitation of the policy b. prior notice is not required c. prior performance of the test d. prior to ordering a physical examination - ANSWER -c. prior performance of the test Which ...

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14 pages

Written in 2022/2023

Grade A+

MERCYTRISHIA

Question: under coverage b- other structures, a homeowners policy provides coverage for other structures on the residence premises. which of the following statements is not true of this coverage ? Ans: any losses paid under coverage B reduces the coverage A limit of liability Question: an insured has an auto policy with limits of 100/300/50 and a deductible of $1,000. He is involved in an auto accident and crashes into another drivers auto. the other driver is awarded 125,000 f...

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14 pages

Written in 2024/2025

Grade A+

Ivie

Guarantee ExamFX, Idaho Personal Lines Simulation Exam Updated ACTUAL QUESTIONS AND CORRECT ANSWERS In the last 72 hours, there were 3 instances of volcanic eruptions that damaged a property covered by a dwelling policy. How many deductibles will the insured have to pay before the policy covers the damages caused by the eruptions? 1. Zero 2. One 3. Two 4. Three - CORRECT ANSWER one

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73 pages

Written in 2024/2025

Grade A+

STANFORDTOPGRADES

P&C Guarantee Exam CA Updated ACTUAL QUESTIONS AND CORRECT ANSWERS An insured's limit of liability applies to a total of damages for bodily injury and property damage resulting form one accident, which may be used in any combination of amounts, not to exceed the single limit. What type of limit does this insured have? 1. Per occurrence 2. Combined single 3. Split 4. Aggregate - CORRECT ANSWER 2. Combined Single

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81 pages

Written in 2024/2025

Grade A+

STANFORDTOPGRADES

Life Guaranteed Exam Updated ACTUAL QUESTIONS AND CORRECT ANSWERS 24 - CORRECT ANSWER How many hours of continuing education must licensees complete during each licensing period? The annuity benefit to be excluded from taxes. - CORRECT ANSWER exclusion ratio used to determine?

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11 pages

Written in 2024/2025

Grade A+

STANFORDTOPGRADES

Guarantee Exam: WA Life Updated QUESTIONS AND CORRECT ANSWERS If a retirement plan or annuity is "qualified", this means - CORRECT ANSWER satisfies IRS requirements for favorable tax treatment. it An insured has a life insurance policy in the amount of $250,000 naming his wife as a beneficiary. Upon his death, his beneficiary decides not to receive the death benefit for some time. When she finally receives the death benefit check, it's in the amount of $250,030. Is any ...

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7 pages

Written in 2024/2025

Grade A+

STANFORDTOPGRADES

Guarantee Exam Updated QUESTIONS AND CORRECT ANSWERS All of the following must sign an application for health insurance EXCEPT the - CORRECT ANSWER Insurer. Health insurance applications require the signatures of - CORRECT ANSWER the proposed insured, the policyowner (if different than the insured), and the agent or producer

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7 pages

Written in 2024/2025

Grade A+

STANFORDTOPGRADES

Guarantee Exam Updated Studyguide ACTUAL QUESTIONS AND CORRECT ANSWERS An annuity has accumulated the cash value of $70,000, of which $30,000 is from premium payments. The annuitant dies during the accumulation phase. The beneficiary will receive... - CORRECT ANSWER $70,000

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5 pages

Written in 2024/2025

Grade A+

STANFORDTOPGRADES

Guarantee Exam Updated ACTUAL QUESTIONS AND CORRECT ANSWERS In contrasting stock insurers with mutual insurers, which statement is true? A.) Stock dividends are tax free while policy dividends are taxable. B.) Non-participating policies can pay out dividends to the policyholders. C.) Mutual insurers are owned by the shareholders and issue participating policies. D.) Stock insurers are owned by the shareholders and issue non-participating policies. - CORRECT ANSWER D.) Stock i...

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8 pages

Written in 2024/2025

Grade A+

STANFORDTOPGRADES

Idaho Personal Lines Simulation&Guarantee ExamFX Updated ACTUAL QUESTIONS AND CORRECT ANSWERS An insured condominium unit owner wants to purchase fire and extended coverage for personal property and liability coverage for himself and his family members. He should purchase - CORRECT ANSWER HO-6

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76 pages

Written in 2024/2025

Grade A+

STANFORDTOPGRADES

Quiz: In the last 72 hours, there were 3 instances of volcanic eruptions that damaged a property covered by a dwelling policy. How many deductibles will the insured have to pay before the policy covers the damages caused by the eruptions? 1. Zero 2. One 3. Two 4. Three Ans: one Quiz: In a personal auto policy (PAP), a covered auto includes all of the following EXCEPT 1. A trailer owned by the insured. 2. A farm implement being towed behind the insured's pickup. 3. A nonowned...

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118 pages

Written in 2024/2025

Grade A+

Passit

Guarantee Exam Fx, Idaho Personal Lines Simulation Exam Questions And Answers A Complete Best Exam Covers 2024/2025 All Answers Correct Verified/Detailed Graded To Score A+ For Success

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79 pages

Written in 2024/2025

Grade A+

bestScience

A golfer slices a tee shot and the ball goes through the window of a house beside the fairway. The broken glass is paid for by - The golfer's homeowners liability coverage What was the purpose of the Motor Carrier Act of 1980? - To establish financial responsibility requirements for interstate motor carriers How does insurance distribute the financial consequences of individual losses? - It transfers the risk to all persons insured Within how many days of the final disposition of the m...

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15 pages

Written in 2023/2024

Grade A+

STANFORDGRADESS

key person insurance can provide protection for all of the following economic losses to a business EXCEPT a. Provide deferred compensation retirement benefit if the insured key person survives to retirement b. Fund the expenses of finding a suitable replacement following the death of an employee c. Fund the cost of training a current employee to perform the duties of a deceased employee. d. Pay the death benefit to the estate of the insured. - Pay the death benefit to the estate of th...

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23 pages

Written in 2023/2024

Grade A+

STANFORDGRADESS

Guarantee Exam Fx Package Deal

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8 items

jacklineshee00

If an individual willfully violates provisions of the Fair Credit Reporting Act, what is the max civil penalty - ️️2500 An insurer must notify in writing that an investigative consumer report has been requested, within how many days of the initial request? - ️️3 days An underwriter is reviewing an applicant with an extensive medical history. Which of the following would give the underwriter a better understanding of how the applicant has been treated for various illnesses - ️️A...

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4 pages

Written in 2023/2024

Grade A+

jacklineshee00

In the last 72 hours, there were 3 instances of volcanic eruptions that damaged a property covered by a dwelling policy. How many deductibles will the insured have to pay before the policy covers the damages caused by the eruptions? 1. Zero 2. One 3. Two 4. Three - ️️one In a personal auto policy (PAP), a covered auto includes all of the following EXCEPT 1. A trailer owned by the insured. 2. A farm implement being towed behind the insured's pickup. 3. A nonowned temporary substit...

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77 pages

Written in 2023/2024

Grade A+

jacklineshee00

A return of premium life policy is written as what type of term coverage? - ️️Increasing What are the two types of Flexible Spending Accounts? - ️️Health Care and Dependent Care Taxation of LTC insurance... - ️️excessive benefits may be taxable Nonforfeiture values guarantee... - ️️that the cash value will not be lost Which method of dealing with risk is applied when insurance is purchased? a. transfer b. sharing c. avoidance tion - ️️a. transfer An equity ...

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15 pages

Written in 2023/2024

Grade A+

jacklineshee00

Can value guarantees in a whole life policy are called a. no forfeiture values b. living benefits c. cash loans d. dividends - ️️a. no forfeiture values If a life insurance company uses HIV testing as a part of its underwriting, when must an applicant be notified of the procedure? a. prior to solicitation of the policy b. prior notice is not required c. prior performance of the test d. prior to ordering a physical examination - ️️c. prior performance of the test Which o...

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30 pages

Written in 2023/2024

Grade A+

jacklineshee00