Nonparticipating plan - Study guides, Class notes & Summaries

Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - Correct Answers they are not guaranteed When there is a named beneficiary on a life insurance policy, the death benefits 1. are directed to a trustee ...

The Insurance Guaranty Fund Association is? - ***funded by admitted insurance companies through assessments • in Florida an element of an insurance transaction would be? - ***Issuing an insurance contract • Under which circumstance may a licensed agent in Florida represent an unauthorized entity? - ***Never • According to Florida law, when must an agent deliver the Outline of Coverage to a Medicare Supplement applicant? - ***At the time of application • An agent may provide a pr...

AZ Life Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: A life policy that has premiums that are lower than normal during the early years is called Decreasing term Modified life Variable life Limited-pay life Answer: Modified life Q: a material change in a modified endowment contract (MEC) results in the contract becoming void a new contestable period the seven pay test, adjustable for cash value, applies again a tax ...

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 life insurance, all of the following statements are correct EXCEPT a. all individuals are considered to have insurable interests i...

Life & Health Insurance Exam (Arkansas). 218 Questions with 100% Correct Answers | Verified | Updated 2024. Reserves Funds held by the company to fullfull future claims. Funds are set by the state department of insurance. Multi-line Insurer An insurance company selling more than one line of insurance. (Ex. Home, auto, health, etc) Stock Companies Owned and controlled by stockholders, whose investment set the safety margin. Guaranteed fixed premiums. Nonparticipating policies. nonpartici...

Under a traditional IRA, interest is taxed: Only if withdrawn prior to age 59 1/2 According to the capital gains rate Upon distribution During the accumulation phase - ANSWER-Upon distribution Which of these statements concerning Traditional IRAs is CORRECT? Earnings are not taxable when withdrawn Earnings are taxable when withdrawn Contribution are never tax deductible Contributions are always made by the employer - ANSWER-Earnings are taxable when withdrawn Wh...

Life & Health Insurance Exam (Arkansas) Questions With Verified Solutions Reserves - ANS Funds held by the company to fulfill future claims. Funds are set by the state department of insurance. Multi-line Insurer - ANS An insurance company selling more than one line of insurance. (Ex. Home, auto, health, etc) Stock Companies - ANS Owned and controlled by stockholders, whose investment set the safety margin. Guaranteed fixed premiums. Nonparticipating policies. non participating...

To determine financial strength of an insurance company - Primary purpose for a rating service company such as A.M best? Provide death benefits - Primary reason for buying life insurance? Liquidity - What is described as an insurers ability to make unpredictable payouts to its policy owners? Self-Funded Plan - What is described as a plan in which an employer pays insurance benefits from a fund derived from the employers current revenue? Nonparticipating policy -Which policy will not pay d...

Life & Health Insurance Exam 2024 (Arkansas) Questions & Answers 100% Accurate Reserves - ANSWER Funds held by the company to fullfull future claims. Funds are set by the state department of insurance. Multi-line Insurer - ANSWER An insurance company selling more than one line of insurance. (Ex. Home, auto, health, etc) Stock Companies - ANSWER Owned and controlled by stockholders, whose investment set the safety margin. Guaranteed fixed premiums. Nonparticipating policies. nonpart...

Why are dividends from a mutual insurer not subject to taxation? because dividends are considered to be a return of premium ABC insurance company transfers part of their risk to XYZ insurance company. This situation is called reinsurance A nonparticipating company is sometimes called a(n) stock insurer What is considered to be the primary reason for buying life insurance? provide death benefits A(n) _____ company is owned by its shareholders stock A plan in which an employer pays insurance ...