Florida 2-15 exam 2024
Study online at https://quizlet.com/_hlzf0y
In a 3 partner cross-purchase plan, how
many policies need to be purchased in
6
order to protect each partner against the
loss of any other partner?
According to the NAIC Life Insurance So-
licitation Model, when soliciting life insur-
ance, a producer is required to provide a general buyer's guide; policy summary
prospect with a ______ and a _______
specific to the product being marketed.
The Incontestable Clause states that the
insurer cannot contest the validity of a life Usually 2 years, but in some states only
insurance policy as long as it remains in 1 year
force after what period of time?
Mr. Baker has named his son as the ben-
eficiary to his life insurance policy, but
he is worried about his son's spending
habits and the money his son might al- Spendthrift Provision
ready owe when he receives the death
benefit. Which policy provision, clause or
rider best fits his situation?
The following life policy settlement op-
tions are available to the policy's bene- Interest-Free Option
ficiary EXCEPT:
When dividends are issued, the policy-
owner has the following dividend options Life Income Option
in utilizing a return EXCEPT:
Which two life insurance riders can Bill
purchase to guarantee that his policy
will continue without further commitment Waiver of premium and Disability Income
from him and that income will be paid Riders
to him if he becomes totally and perma-
nently disabled?
In the event that a parent dies or be-
comes disabled, which rider allows sur-
Payor Rider
viving child coverage to continue until the
child reaches a specified age?
1/7
, Florida 2-15 exam 2024
Study online at https://quizlet.com/_hlzf0y
According to the NAIC Model Group Life
Insurance Provisions, what is the stan- 30-31 days
dard grace period?
Variable annuity units are fixed but the
Which statement regarding annuities is
annuity payment will vary according to
CORRECT?
the value of the annuity unit.
For individuals who have reached their
normal retirement age, their spouses are
entitled a retirement benefit that is equal 50%
to what percentage of the retired work-
er's primary insurance amount (PIA)?
n order to be considered currently in-
sured and thus eligible for limited sur-
vivor benefits from Social Security, a
6
worker must have earned ___ credits
during the 13-quarter period ending with
the quarter in which the worker died.
Due to the historical mismanagement of
employee retirement plans, which feder- Employee Retirement Income Security
al law did Congress pass to protect em- Act (ERISA)
ployee retirement plans against misuse?
In a qualified employer retirement plan,
an employee is entitled to what percent-
100%
age of the vested interest in benefits that
accrue from his or her contributions?
Under the 1035 policy exchange provi-
An annuity contract exchanged for a life
sion, which of the following will NOT re-
insurance policy
ceive favorable tax treatment?
The period after a surviving spouse's
Barbara is currently in her Social Securi-
youngest child is no longer eligible and
ty 'blackout' period. Which answer BEST
before the surviving spouse turns age
describes this period?
60, or age 50 if he or she is disabled.
Which type of whole life insurance policy
is characterized by affordable premiums
Graded Premium Whole Life
in its initial years, then gradually increas-
ing over the next few years until finally
2/7
Study online at https://quizlet.com/_hlzf0y
In a 3 partner cross-purchase plan, how
many policies need to be purchased in
6
order to protect each partner against the
loss of any other partner?
According to the NAIC Life Insurance So-
licitation Model, when soliciting life insur-
ance, a producer is required to provide a general buyer's guide; policy summary
prospect with a ______ and a _______
specific to the product being marketed.
The Incontestable Clause states that the
insurer cannot contest the validity of a life Usually 2 years, but in some states only
insurance policy as long as it remains in 1 year
force after what period of time?
Mr. Baker has named his son as the ben-
eficiary to his life insurance policy, but
he is worried about his son's spending
habits and the money his son might al- Spendthrift Provision
ready owe when he receives the death
benefit. Which policy provision, clause or
rider best fits his situation?
The following life policy settlement op-
tions are available to the policy's bene- Interest-Free Option
ficiary EXCEPT:
When dividends are issued, the policy-
owner has the following dividend options Life Income Option
in utilizing a return EXCEPT:
Which two life insurance riders can Bill
purchase to guarantee that his policy
will continue without further commitment Waiver of premium and Disability Income
from him and that income will be paid Riders
to him if he becomes totally and perma-
nently disabled?
In the event that a parent dies or be-
comes disabled, which rider allows sur-
Payor Rider
viving child coverage to continue until the
child reaches a specified age?
1/7
, Florida 2-15 exam 2024
Study online at https://quizlet.com/_hlzf0y
According to the NAIC Model Group Life
Insurance Provisions, what is the stan- 30-31 days
dard grace period?
Variable annuity units are fixed but the
Which statement regarding annuities is
annuity payment will vary according to
CORRECT?
the value of the annuity unit.
For individuals who have reached their
normal retirement age, their spouses are
entitled a retirement benefit that is equal 50%
to what percentage of the retired work-
er's primary insurance amount (PIA)?
n order to be considered currently in-
sured and thus eligible for limited sur-
vivor benefits from Social Security, a
6
worker must have earned ___ credits
during the 13-quarter period ending with
the quarter in which the worker died.
Due to the historical mismanagement of
employee retirement plans, which feder- Employee Retirement Income Security
al law did Congress pass to protect em- Act (ERISA)
ployee retirement plans against misuse?
In a qualified employer retirement plan,
an employee is entitled to what percent-
100%
age of the vested interest in benefits that
accrue from his or her contributions?
Under the 1035 policy exchange provi-
An annuity contract exchanged for a life
sion, which of the following will NOT re-
insurance policy
ceive favorable tax treatment?
The period after a surviving spouse's
Barbara is currently in her Social Securi-
youngest child is no longer eligible and
ty 'blackout' period. Which answer BEST
before the surviving spouse turns age
describes this period?
60, or age 50 if he or she is disabled.
Which type of whole life insurance policy
is characterized by affordable premiums
Graded Premium Whole Life
in its initial years, then gradually increas-
ing over the next few years until finally
2/7
