KENTUCKY LIFE INSURANCE STATE EXAM PRACTICE NEWEST
UPDATED 2025 REAL FINAL EXAM WITH COMPLETE DETAILED
QUESTIONS AND CORRECT VERIFIED ANSWERS ALREADY
GRADED A+
The premiums paid by an employer for his
employee's group life insurance are usually
considered to be
ANSWER-Tax-deductible to the employer
Which of these is NOT considered to be a cost
connected with an individual's death?
ANSWER-Business expenses
,These are all accurate statements regarding
universal life insurance EXCEPT
ANSWER-Policy loans are not permitted
Which of these is NOT relevant when
determining the amount of personal life
insurance needed?
ANSWER-Local unemployment rate
Who elects the governing body of a mutual
insurance company?
ANSWER-Policyholders
,Why would evidence of insurability be required
for a person insured with a variable universal
life policy?
ANSWER-The face amount is increased
At what point are death proceeds paid in a joint
life policy?
ANSWER-When the first insured dies
What is considered a valid reason for small
businesses to insure the lives of its major
shareholders?
ANSWER-Fund a buy-sell agreement
, Which action will trigger a penalty tax on
premature distributions from a modified
endowment contract (MEC)?
ANSWER-Policy loans
Dividends from a mutual insurance company
are paid to whom?
ANSWER-Policyowners
Traditional individual retirement annuity (IRA)
distributions must start by
ANSWER-April 1st of the year following the
year the participant attains age 70 1/2
UPDATED 2025 REAL FINAL EXAM WITH COMPLETE DETAILED
QUESTIONS AND CORRECT VERIFIED ANSWERS ALREADY
GRADED A+
The premiums paid by an employer for his
employee's group life insurance are usually
considered to be
ANSWER-Tax-deductible to the employer
Which of these is NOT considered to be a cost
connected with an individual's death?
ANSWER-Business expenses
,These are all accurate statements regarding
universal life insurance EXCEPT
ANSWER-Policy loans are not permitted
Which of these is NOT relevant when
determining the amount of personal life
insurance needed?
ANSWER-Local unemployment rate
Who elects the governing body of a mutual
insurance company?
ANSWER-Policyholders
,Why would evidence of insurability be required
for a person insured with a variable universal
life policy?
ANSWER-The face amount is increased
At what point are death proceeds paid in a joint
life policy?
ANSWER-When the first insured dies
What is considered a valid reason for small
businesses to insure the lives of its major
shareholders?
ANSWER-Fund a buy-sell agreement
, Which action will trigger a penalty tax on
premature distributions from a modified
endowment contract (MEC)?
ANSWER-Policy loans
Dividends from a mutual insurance company
are paid to whom?
ANSWER-Policyowners
Traditional individual retirement annuity (IRA)
distributions must start by
ANSWER-April 1st of the year following the
year the participant attains age 70 1/2
