Annuity payout - Study guides, Class notes & Summaries
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Kentucky Life Insurance Exam Prep| Questions and Verified Answers| 100 % Correct| Grade A (New 2024/ 2025 Update)
- Exam (elaborations) • 49 pages • 2024
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Kentucky Life Insurance Exam Prep| 
Questions and Verified Answers| 100 % 
Correct| Grade A (New 2024/ 2025 Update) 
 
 
QUESTION 
 Nonforfeiture Options 
Three options available by law to policyowners that enable them to recover a policy's cash-value 
upon surrender of that policy. (1) Cash (2) Reduced Paid-Up Insurance (3) Extended Term 
Insurance 
 
 
 
QUESTION 
 Immediate Annuities 
 
 
Answer: 
- Can only be funded using the Single Premium payment method 
- First income payment is ma...
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CEBS: GBA/RPA 3 (new curriculum) Exam Questions and Answers
- Exam (elaborations) • 11 pages • 2023
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ERISA - Answer- Employee Retirement Income Security Act 1974 
 
SOC Reports - Answer- Service Organization Controls: for external vendors 
 
SOC 1 - Answer- Internal Controls & Financial reports; used by auditors 
 
SOC 2 - Answer- Security, availability, processing integrity, confidentiality and privacy controls;used by management, regulators, and others under an NDA 
 
SOC3 - Answer- Same as SOC2, but available for public use. 
 
Tribble V Edison - Answer- Landmark court case re fiduciary resp...
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Florida 2-15 Insurance License Actual Exam Questions and Answers Already Graded A
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Florida 2-15 Insurance License Actual Exam Questions and Answers Already Graded A 
Accumulation units are converted into annuity units: at the time of annuity payout.
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Primerica Practice Exam Test A 75 Questions & Answers 2023
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Primerica Practice Exam Test A 75 Questions & 
Answers 2023 
1. An annuity that is purchased with a lump sum premium and whose benefits begin 
after 12 months is called a: 
A. Single premium immediate annuity. 
B. Single premium deferred annuity. 
C. Level premium variable annuity. 
D. Flexible premium fixed annuity. - Correct answer-Single premium deferred annuity 
2. A technique used to determine the amount of life insurance needed by focusing on 
the projected earning potential of an insured ...
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FLORIDA 2-15 INSURANCE LICENSE EXAM LATEST REAL EXAM QUESTIONS WITH CORRECT ANSWERS |AGRADE|NEW VERSION|
- Exam (elaborations) • 27 pages • 2024
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FLORIDA 2-15 INSURANCE LICENSE EXAM LATEST REAL EXAM QUESTIONS WITH CORRECT ANSWERS |AGRADE|NEW VERSION| 
Accumulation units are converted into annuity units: ANSWER: - at the time of annuity payout.
And that's how you make extra money
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AZ Life Insurance Exam Prep Study Guide with 100% Complete Solutions
- Exam (elaborations) • 27 pages • 2024
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AZ Life Insurance Exam Prep Study Guide with 100% Complete Solutions 
-Secondary 
A Contingent Beneficiary has the __________ right to collect an Insured's death benefit. 
 
 
-A uniform set of insurance regulations 
What does the Producer Licensing Model Act (PLMA) provide? 
 
-A uniform set of insurance regulations 
-Disability income 
-A double payout 
-Private Life Maturity Assets 
 
 
-They are known for their very flexible payment terms 
All but which of the following are true about Whole...
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Florida Life, Health and Variable Annuities With Correct Solutions!!
- Exam (elaborations) • 15 pages • 2023
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Disability Buy-Out plans feature: - ANSWER Long elimination plans up to two years (A disability buy-out plan funded with disability insurance has a long elimination period of generally two years. The elimination period begins the day of the disability. Then the disability policy will provide a lump sum to buy the disabled partner out. They want to make sure that the partner is not going to recover and come back to work) 
 
When MUST the Office of Insurance Regulation conduct a market conduct exa...
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Florida Life, Health and Variable Annuity Exam Correct !!
- Exam (elaborations) • 15 pages • 2023
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Entire Contract Provision - ANSWER found at the beginning of the policy, saying that the policy cannot refer to any outside documents as being part of the contract and prohibiting the insurer from making any changes to the policy after it has been issued. (can only make good changes not bad) 
 
Insuring Clause - ANSWER sets forth the company's basic promise to pay benefits upon the insured's death. 
 
Free-Look Provision - ANSWER gives policyowners the right to return the policy for a full pre...
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AZ Life Insurance Exam Prep Study Guide with 100% Complete Solutions
- Exam (elaborations) • 53 pages • 2024
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AZ Life Insurance Exam Prep Study 
Guide with 100% Complete Solutions 
-Secondary - Correct Answer ️️ -A Contingent Beneficiary has the __________ right 
to collect an Insured's death benefit. 
-A uniform set of insurance regulations - Correct Answer ️️ -What does the Producer 
Licensing Model Act (PLMA) provide? 
-A uniform set of insurance regulations 
-Disability income 
-A double payout 
-Private Life Maturity Assets 
-They are known for their very flexible payment terms - Correct A...
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XCEL Life and Health Insurance Test Review 2024/2025 updated to pass
- Exam (elaborations) • 26 pages • 2024
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XCEL Life and Health Insurance Test ReviewPeriod Certain - correct answer Which annuity payout option allows the policy owner to choose a pre-determined number of benefit payments? 
 
Life only annuity - correct answer Which annuity payout option has no additional payouts regardless of when the annuitant dies 
 
Errors and Omissions - correct answer a professional liability for which producers can be sued for mistakes of putting a policy into effect 
 
irrevocable beneficiary - correct answer re...
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