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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Life Insurance Product Knowledge | - Settlement options and beneficiary provisions - Modified Endowment Contracts and taxation - Cash value, dividends, policy loans and surrenders - Policy provisions and types - Section 1035 exchanges and rollover rules | |
| Topic 2: Insurance Regulation | 12% | - Assumed business names - Continuing education requirements - Reporting convictions and disciplinary actions - Resident and nonresident rules - Renewal and nonrenewal - Licensing requirements - Change of address and contact information - Temporary licenses |
Bettie has a $200,000 whole life policy with a $50,000 cash value. She wishes to borrow $30,000 for the
purchase of a new van. Which of the following Is TRUE In this situation?
Correct Answer: A 🗳️
After a request has been received for verification of coverage from a viatical settlement provider, an insurance
company authorized to do business shall respond within:
Correct Answer: C 🗳️
Who can surrender an annuity during the accumulation period?
Correct Answer: B 🗳️
In reference to life Insurance in contract law, a person MOST likely will have an insurable interest in insuring
a person's life If
Correct Answer: C 🗳️
Which of the following is TRUE of a payor benefit rider?
Correct Answer: A 🗳️
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