An incomplete life insurance app submitted to an insurer will result in which of these actions? - CORRECT ANSWER-App will be returned to the writing agent
Which of the following is an ex of defamation?
(A) Circulating brochures falsely denouncing financial condition of an insurer
(B) Making st...
An incomplete life insurance app submitted to an insurer will result in which of these
actions? - CORRECT ANSWER-App will be returned to the writing agent
Which of the following is an ex of defamation?
(A) Circulating brochures falsely denouncing financial condition of an insurer
(B) Making statements that encourage purchase of term life insurance over whole life
(C) Issuing pamphlets containing false info about term life
(D) Publishing a newsletter that makes reference to reputable brokers in area -
CORRECT ANSWER-Circulating brochures falsely denouncing financial condition of an
insurer
Which statement about a whole life policy is correct?
(A) Bene may be changed only w/consent of premium payor
(B) Premiums are flexible
(C) Cash value may be borrowed against
(D) Death benefit can usually be adjusted - CORRECT ANSWER-Cash value may be
borrowed against
Who signs a "Notice Regarding Replacement" form when an application is taken for a
new life insurance policy that replaces an existing one?
(A) Beneficiary
(B) Applicant only
,(C) Producer only
(D) Producer and applicant - CORRECT ANSWER-Producer and applicant
Under federal tax laws, what is the tax treatment for an employer providing $50,000 of a
contributory group Term Life plan to all its eligible employees?
(A) Portion of death proceeds are taxable to bene
(B) Portion of premiums paid for by employer may be a tax deduction
(C) Portion of death proceeds are taxable to estate
(D) Portion of premiums paid for by employee may be a tax deduction - CORRECT
ANSWER-Portion of premiums paid by employer may be a tax deduction (In a
contributory plan for its share of premium costs)
Q would like to purchase $100,000 of permanent protection on his wife and $50,000 of
Term coverage on himself under the same policy. What kind of policy should Q
purchase?
(A) Joint policy
(B) Joint survivor policy
(C) Whole life policy with a guaranteed insurab9ility option
(D) Whole life policy with other insured rider - CORRECT ANSWER-Whole life policy
with other insured rider
All of the following are examples of insurance advertisement EXCEPT
(A) A newspaper notice announcing free insurance advice
(B) An employer newsletter announcing the availability of coverage for employees
(C) A direct mail brochure announcing specific insurance plans
(D) A tv spot announcing an insurance company's new product - CORRECT ANSWER-
An employer newsletter announcing the availability of coverage for employees
,Which of these provisions is NOT required in life insurance policies?
(A) Grace period
(B) Free look
(C) Entire contract
(D) Extended term - CORRECT ANSWER-Extended term
Which of the following annuities pay benefits based on units rather than specific dollar
amounts?
NV's 10-day free-look period for life insurance policies begins at the
(A) date of delivery
(B) date of application
(C) date of approval
(D) date of physical exam - CORRECT ANSWER-date of delivery
Which of following is a req to attain a nonres producer license?
(A) Pass special exam for nonres producers
(B) Be licensed as producer in producer's state of domicile
(C) Own real estate in NV
(D) Maintain a specific sales quota in res state - CORRECT ANSWER-Be licensed as
producer in producer's state of domicile
, NV Life & Health insurance guaranty association
(A) Assists in underwriting large policies
(B) is funded by producers through their commissions
(C) is financed by US treasury
(D) is funded by insurance companies through assessments - CORRECT ANSWER-Is
funded by insurance companies through assessments
An individual who has a contract w/an insurance company to represent it is called a
(A) producer
(B) director
(C) administrator
(D) representative - CORRECT ANSWER-Producer
Which action will a life insurance company most likely take if an insured dies & it is
discovered that insured's age was misstated on the app? - CORRECT ANSWER-Pay
an amount premiums would have purchased at insured's actual age
In a qualified retirement plan, the yearly contributions to an employee's account
(A) are restricted to maximum levels set by IRS
(B) are not tax-deductible
(C) are restricted to minimum levels set by IRS
(D) must be matched dollar-for-dollar by the employer - CORRECT ANSWER-are
restricted to maximum levels set by IRS
What is a warranty? - CORRECT ANSWER-Statement guaranteed to be true
Which of these are NOT an example of a Nonforfeiture option?
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