Georgia Life Insurance Study Exam | 100 Questions with 100% Correct Answers | Verified | Latest Update 2024

An insurance producer selling a Variable Annuity whose cash value depends on the performance of an underlying investment account must be registered with: - The Financial Industry Regulatory Authority (FINRA, formerly the NASD) A life insurance policy whose cash value will fluctuate depending upon the performance of a separate account is: - Variable Life John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The cash value will equal the face amount of the policy when he reaches the age of: - 100 Which of the following types of insurance policies would provide the greatest amount of protection for a temporary period during which an insured will have limited financial resources? - Term Which of the following statements about a Renewable Term policy is true? - It is renewable at the option of the insured An Annuity is designed to provide which of the following financial features? I. The liquidation of principal and interest II. Favorable tax treatment III. The creation of an estate - I and II A 45-year old customer who is seeking to supplement his retirement income at age 65 would not buy a: - Immediate Annuity Which of the following is an example of a Limited-Pay Life policy? - Life Paid-Up at Age 65