Term
| If a policyowner cash surrenders a life insurance policy, the insurer could assess a surrender charge (T/F) |
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Definition
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Term
| Which type of life insurance pays a dividend? |
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Definition
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Term
| When using the human life value method of determining a need, an agent would not consider any past income of the prospective insured T/F |
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Definition
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Term
| Key Person insurance is used to proved funds for what? |
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Definition
| Recruiting costs, training expense, overhead expense |
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Term
| Key person insurance covers the employees retirement plan T/F |
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Definition
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Term
| Kathy's employer is both the owner and beneficiary of her Key Employee policy. What percentage of the premium will Karen, the owner, be allowed to deduct at tax time for her business expense? |
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Term
| One of the greatest difference between group life and individual life? |
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Definition
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Term
| Who is not considered when computing an Emergency Reserve Fund for the family when doing a Needs Analysis? |
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Definition
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Term
| Which of the following is false concerning term life insurance? A)Premium outlay is low B) Provides a means to purchase large amounts of insurance C) Matures @ Age 100 |
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Definition
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Term
| Which of the following is a type of Buy- Sell Agreement funded by life insurance? A)Entity Proceeds B)Cross Purchase C)Key person coverage |
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Definition
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Term
| What are the types of Buy- Sell Agreements? |
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Definition
| Cross Purchase Plan, Entity Plan |
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