Funding method of annuity - Study guides, Class notes & Summaries

1 ALL PRACTICE EXAM QUESTIONS - LIFE, ACCIDENT AND SICKNESS - GA STATE LICENSE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ How much participation does a Noncontributory plan require? Correct Answer: 100% The insured hands control of the policy to another person (usually the agent) Correct Answer: constructive delivery Filing a request with the insurer - Recording Method, or by endorsement Correct Answer: beneficiary change can be made by doing what? The app...

Zack McKerley began college last year and is in the process of applying again for financial aid for his third year of college. Zack received some distributions from various sources to pay for his expenses in his rst year. Which one of the following distributions that occurred last year will not have an adverse effect on the financial aid that Zack may receive in the coming year? - correct answer A qualified distribution from a 529 Savings Plan that was funded...

Certified Payroll Professional Exam 120 Questions with Verified Answers Form SS-8 - CORRECT ANSWER Determination of worker status for purpose of federal employment taxes and income tax withholding. Can be filled out by the business or worker. Form W-4 - CORRECT ANSWER Employees withholding allowance certificate. Documents the amount of federal tax withholding. Form SS-4 - CORRECT ANSWER Application for employer identification number. Form 8233 - CORRECT ANSWER Exemption from withhold...

Annuity – WebCE Questions and Answers 2023 Annuitization is Accumulated values are converted into a stream of periodic income payments. How often can payments of annuities be paid out? A specified term of years, for life, or a combination of the two. What is the reason (how has a consumer's priorities and needs shifted) that annuities are well suited for late-life retirement planning? When a consumer priorities and needs typically shift from asset accumulation to income dist...

CEBS: GBA/RPA 3 (new curriculum) with Question and answer 2023ERISA Employee Retirement Income Security Act 1974 SOC Reports Service Organization Controls: for external vendors SOC 1 Internal Controls & Financial reports; used by auditors SOC 2 Security, availability, processing integrity, confidentiality and privacy controls;used by management, regulators, and others under an NDA SOC3 Same as SOC2, but available for public use. Tribble V Edison Landmark ...

Who would be most likely to apply to the commissioner for a nonresident license? - answer-Individual licensed in another state and who resides in that state What does a viatical settlement involve? - answer-The sale of a life insurance policy In Montana, the _________ reviews and approves the insurance continuing education courses. - answer-Comissioner A _________ insurer is one domiciled in another state. - answer-Foreign In Montana, health insurance companies must provide maternity...

Representations and Warranties - Answer- Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments - Answer- Two related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premium rates. The ________ department analyzes data to help estimate future losse...

CPP Practice Exam 208 Questions with Verified Answers From what taxes are cafeteria plan contributions generally exempt? A. SS, Medi, FIT, and FUTA B. FIT and SIT C. SS, Medi, FUTA, and SUI D. SS, Medi, FIT, and SIT - CORRECT ANSWER A. Social Security, Medicare, FIT, and FUTA Reference 4.5 Cafeteria Plans In which boxes on the W-2 would you report the adoption assistance? A. Boxes 3, 4, 5, 6 B. Boxes 1, 2, 3, 4, 5, 6, 12 - Code T C. Boxes 3, 4, 5, 6, 12 - Code A D. Boxes 3...

Life, Accident and Health Insurance Exam 2024 Questions Complete Solutions Qualified Plan - Answer - -approved by IRS for favorable tax treatment - tax deffered growth Qualified Plan Requirements - Answer - 1) Be in writing 2)provided for benefit of employee 3) must satisfy age and serive standards 4) cannot be discriminatory 5) contributions cannot exceed yearly maximus 6) must provide survivorship benefits 7) must meet miniumum vesting standards 8) cannot be top heavy Advantages of ...

[COMPANY NAME] [Company address] ACCIDENT, LIFE, AND HEALTH INSURANCE QUESTIONS AND ANSWERS 2022 Accident, Life, and Health Insurance questions and answers 2022 Premiums paid by self-employed sole proprietors or partners for medical expense insurance are - answera) Not tax deductible b) Partially tax deductible c) Totally tax deductible d) Taxable c) Totally tax deductible - answerc) What is the purpose of a conditional receipt - answera) It is given by the agent only to applican...