QUESTION 32
Which of the following is a requirement of an insurable risk?

QUESTION 33
The purpose of the Life and Health Insurance Guaranty Corporation is to guarantee:

QUESTION 34
The life insurance buyer’s guide includes information about all of the following EXCEPT how to:

QUESTION 35
One factor in premium determination is the expenses of the:

QUESTION 36
In the event of a death claim under a life insurance policy, what happens to the amount of any existing policy loan?

QUESTION 37
To determine whether unfair trade practices have been violated, who has the power to examine an insurer’s books and records?

QUESTION 38
A life insurance policy becomes incontestable after it has been in force for:

QUESTION 39
To have “an insurable interest” in the life of another person, an individual must have a reasonable expectation of:

QUESTION 40
A producer is prohibited from:

QUESTION 41
Splitting the commission with the buyer on a sale of insurance is an unfair trade practice known as:

QUESTION 42
An insurable interest in each other’s lives may exist in the absence of an economic interest when the individuals are:

QUESTION 43
Which amount may be deposited into a rollover individual retirement account (IRA) for the purpose of deferring income taxes?

QUESTION 44
The needs approach to personal life insurance planning includes the creation of an emergency reserve fund.
This fund is designed primarily to:

QUESTION 45
A producer is prohibited from:

QUESTION 46
Which one of the following statements about participating life insurance is true?

QUESTION 47
A policyholder uses a Section 1035 exchange to replace an existing life insurance policy. If the new policy is later surrendered, the gain realized on termination is taxed as:

QUESTION 48
In order to qualify for a company convention, an insurance producer agrees to pay the first quarterly premium for the applicant for new insurance. This is called a:

QUESTION 49
Who normally receives dividends in a stock insurance company?

QUESTION 50
Advertisements in general shall be:

QUESTION 51
The income benefits distributed during the liquidation phase of an annuity contract are normally payable to: