9/3/25, 12:33 AM Kentucky Life Insurance State Exam Practice Exam| Complete Exam Questions and CORRECT Answers| (2025 update) Assured s…
Kentucky Life Insurance State Exam Practice
Exam| Complete Exam Questions and CORRECT
Answers| (2025 update) Assured success
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (100)
The premiums paid by an Tax-deductible to the employer
employer for his
employee's group life
insurance are usually
considered to be
Which of these is NOT Business expenses
considered to be a cost
connected with an
individual's death?
https://quizlet.com/1070881733/kentucky-life-insurance-state-exam-practice-exam-complete-exam-questions-and-correct-answers-2025-update-assu… 1/16
,9/3/25, 12:33 AM Kentucky Life Insurance State Exam Practice Exam| Complete Exam Questions and CORRECT Answers| (2025 update) Assured s…
These are all accurate Policy loans are not permitted
statements regarding
universal life insurance
EXCEPT
Which of these is NOT Local unemployment rate
relevant when determining
the amount of personal
life insurance needed?
Who elects the governing Policyholders
body of a mutual
insurance company?
Why would evidence of The face amount is increased
insurability be required for
a person insured with a
variable universal life
policy?
At what point are death When the first insured dies
proceeds paid in a joint
life policy?
What is considered a valid Fund a buy-sell agreement
reason for small
businesses to insure the
lives of its major
shareholders?
Which action will trigger a Policy loans
penalty tax on premature
distributions from a
modified endowment
contract (MEC)?
Dividends from a mutual Policyowners
insurance company are
paid to whom?
https://quizlet.com/1070881733/kentucky-life-insurance-state-exam-practice-exam-complete-exam-questions-and-correct-answers-2025-update-assu… 2/16
, 9/3/25, 12:33 AM Kentucky Life Insurance State Exam Practice Exam| Complete Exam Questions and CORRECT Answers| (2025 update) Assured s…
Traditional individual April 1st of the year following the year the participant
retirement annuity (IRA) attains age 70 1/2
distributions must start by
How are Roth IRA Distributions are received tax-free
distributions normally
taxed?
How can an insurance Reinsurance
company minimize
exposure to loss?
All of the following 10% penalty is applied to withdrawals before age 59
statements about 1/2
traditional individual
retirement accounts are
false EXCEPT
All of these statements Policy indicates how much of the premium is used
concerning universal life toward company expenses
insurance are false
EXCEPT
A 55 year old recently Income taxes plus a 10% penalty tax on $30,000
received a $30,000
distribution from a
previous employer's 401k
plan, minus $10,000
withholding. Which federal
taxes apply if none of the
funds were rolled over?
For insurance purposes, Homogeneous exposure units
similar objects which are
exposed to the same
perils are referred to as
In an individual retirement Not limited by dollar amount
account (IRA), rollover
contributions are
https://quizlet.com/1070881733/kentucky-life-insurance-state-exam-practice-exam-complete-exam-questions-and-correct-answers-2025-update-assu… 3/16
Kentucky Life Insurance State Exam Practice
Exam| Complete Exam Questions and CORRECT
Answers| (2025 update) Assured success
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (100)
The premiums paid by an Tax-deductible to the employer
employer for his
employee's group life
insurance are usually
considered to be
Which of these is NOT Business expenses
considered to be a cost
connected with an
individual's death?
https://quizlet.com/1070881733/kentucky-life-insurance-state-exam-practice-exam-complete-exam-questions-and-correct-answers-2025-update-assu… 1/16
,9/3/25, 12:33 AM Kentucky Life Insurance State Exam Practice Exam| Complete Exam Questions and CORRECT Answers| (2025 update) Assured s…
These are all accurate Policy loans are not permitted
statements regarding
universal life insurance
EXCEPT
Which of these is NOT Local unemployment rate
relevant when determining
the amount of personal
life insurance needed?
Who elects the governing Policyholders
body of a mutual
insurance company?
Why would evidence of The face amount is increased
insurability be required for
a person insured with a
variable universal life
policy?
At what point are death When the first insured dies
proceeds paid in a joint
life policy?
What is considered a valid Fund a buy-sell agreement
reason for small
businesses to insure the
lives of its major
shareholders?
Which action will trigger a Policy loans
penalty tax on premature
distributions from a
modified endowment
contract (MEC)?
Dividends from a mutual Policyowners
insurance company are
paid to whom?
https://quizlet.com/1070881733/kentucky-life-insurance-state-exam-practice-exam-complete-exam-questions-and-correct-answers-2025-update-assu… 2/16
, 9/3/25, 12:33 AM Kentucky Life Insurance State Exam Practice Exam| Complete Exam Questions and CORRECT Answers| (2025 update) Assured s…
Traditional individual April 1st of the year following the year the participant
retirement annuity (IRA) attains age 70 1/2
distributions must start by
How are Roth IRA Distributions are received tax-free
distributions normally
taxed?
How can an insurance Reinsurance
company minimize
exposure to loss?
All of the following 10% penalty is applied to withdrawals before age 59
statements about 1/2
traditional individual
retirement accounts are
false EXCEPT
All of these statements Policy indicates how much of the premium is used
concerning universal life toward company expenses
insurance are false
EXCEPT
A 55 year old recently Income taxes plus a 10% penalty tax on $30,000
received a $30,000
distribution from a
previous employer's 401k
plan, minus $10,000
withholding. Which federal
taxes apply if none of the
funds were rolled over?
For insurance purposes, Homogeneous exposure units
similar objects which are
exposed to the same
perils are referred to as
In an individual retirement Not limited by dollar amount
account (IRA), rollover
contributions are
https://quizlet.com/1070881733/kentucky-life-insurance-state-exam-practice-exam-complete-exam-questions-and-correct-answers-2025-update-assu… 3/16
