What is a deductible ira - Study guides, Class notes & Summaries

When an employer terminate coverage under a group policy, how long is that coverage in force? -ANSWER 31 Days. The employee has 31 days under the conversion privilege to convert to an individual policy. When talking about parties to a contract, what makes a person legally competent. -ANSWER The person must complete secondary education. What is the number of credits required for the fully insured status of social Security disability benefits? -ANSWER 40 What type of insurance would be us...

Florida 2-15 Insurance Final Exam Test Bank (All Chapters complete 1-30, Questions and Answers, 100% Verified) Latest 2023/2024 Florida 2-15 Insurance Final Exam Test Bank (All Chapters complete 1-30, Questions and Answers, 100% Verified) Latest 2023/2024 1. A life insurance company is organized in Orlando where it maintains its home office. In Florida, the company is classified as a a. domestic company b. local company c. foreign company d. preferred company a 2. With regard to...

Accident, Life, and Health Insurance questions and answers 2024 Update Accident, Life, and Health Insurance questions and answers 2024 Update 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 What is the purpose of a conditional receipt - answera) It is given by the agent only to applicants who fully prepay all scheduled premiums in advance of policy issu...

Kentucky Life Insurance State Exam Practice Questions and Answers Verified 2024 The premiums paid by an employer for his employee's group life insurance are usually considered to be - CORRECT ANSWER-Tax-deductible to the employer Which of these is NOT considered to be a cost connected with an individual's death? - CORRECT ANSWER-Business expenses These are all accurate statements regarding universal life insurance EXCEPT - CORRECT ANSWER-Policy loans are not permitted Which of these...

Income Tax Fundamentals & Calculations Module 1 Exam 100% solved Which of the following statements regarding the taxation of compensatory and punitive damages is CORRECT? I. Compensatory damages are generally subject to income tax. II. Punitive damages are generally received income tax-free. - ANSWERB) Neither I nor II Both statements are false. Susan's parents have gifted the children, Bill and Alice, age 9 and 12 respectively, various investments. Alice had investment income of $4,00...

NC Life Insurance Exam Questions With 100% Correct Answers 2024 Fraternal Benefit Society - answerAn organization of people who share a month ethnic, religious or vocational affiliation. They are entities they have no capital stock, have a representative form of government. They exist not for profit but solely for the benefit of their members and their beneficiaries and operate on a lodge system. Fraternal Benefit Societies - answerAgents of these societies must comply with the SAME gener...

Life, Health and Accident Insurance Exam and Notes Key Topics in Life Insurance 1. Insurance Application Process - The agent does not set final rates. - If a question is missed, schedule another appointment. - The underwriter or beneficiary does not need to sign the application. 2. Insurability and Coverage - The definition of insurance as risk transfer. - Coverage dates based on conditional receipts. - Requirements for signatures on applications. 3. Types of Insurance - Differences betw...

1 OHIO STATE EXAM LIFE AND HEALTH INSURANCE EXAM REVIEW QUESTIONS AND ANSWERS, VERIFIED/ What is the name of the provision which states that a copy of the application must be attached to the policy when issued? - -Entire Contract Which of the following is INELIGIBLE to participate in a Section 125 Plan? - -An S-Corp Owner with a greater than 2% share The reinstatement provision in a health insurance policy is - -mandatory A nonparticipating policy will - -not pay dividends Erica is 35...

NC Life Insurance Exam Questions With 100% Correct Answers 2024 Fraternal Benefit Society - answerAn organization of people who share a month ethnic, religious or vocational affiliation. They are entities they have no capital stock, have a representative form of government. They exist not for profit but solely for the benefit of their members and their beneficiaries and operate on a lodge system. Fraternal Benefit Societies - answerAgents of these societies must comply with the SAME gener...

Convincing a prospective insured to buy an insurance policy based on exaggerations is called - ANSWERMisrepresentation A nondisabled individual is first eligible for a Medicare Supplement policy at age - ANSWER65 In a qualified retirement plan, the yearly contributions to an employee's account: - ANSWERare restricted to maximum levels set by the IRS What is the purpose of a Policy Summary? - ANSWERIt highlights the critical parts of the policy issued Jasmine is a salaried employee o...