Exam (elaborations)
ARKANSAS STATE LIFE INSURANCE EXAM QUESTIONS AND ANSWERS
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ARKANSAS STATE LIFE INSURANCE EXAM QUESTIONS AND ANSWERS
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Within how many days must a traditional IRA be rolled over to another IRA in order to
avoid tax consequences?
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60
What does the word level in Level Term describe?
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Face amount
A Renewable Term Life insurance policy can be renewed
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at a predetermined date or age, regardless of the insured's health
If an insured dies during the grace period with no premiums paid
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the policy would be payable, minus the premium amount
An insured individual and the policy's beneficiary die from the same accident. The
common disaster provision states the insurer will continue as if
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The insured outlived the beneficiary
Which of these is a method of determining the level of funds required for ongoing
support in the event of the breadwinner's death?
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Human life value
What is determined in the Human life value approach?
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It predicts the person's earning potential and determines how much of that
amount would be devoted to dependents
What does a life insurance policy guarantee to the stated beneficiary upon the death
of the insured?
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Specified amount of money
When a producer is replacing an existing ordinary life insurance policy, the producer
must take all of the following actions EXCEPT
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obtain the beneficiary's signature
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