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| Section | Weight | Objectives |
|---|---|---|
| Insurance Regulation | 12% | - Resident and non-resident rules - Disciplinary actions and penalties - Continuing education requirements - State and federal insurance laws - Licensing requirements and maintenance |
| Types of Life Insurance Policies | 12% | - Group and credit life insurance - Universal and indexed universal life - Whole life and permanent life - Term life insurance |
| Policy Provisions, Options & Riders | 22% | - Standard policy provisions - Dividends, loans and withdrawals - Beneficiary designations - Common policy riders - Nonforfeiture and settlement options |
| Federal Tax Considerations | 12% | - Tax treatment of annuities - Taxation of life insurance proceeds - 1035 Exchanges and rollovers - Modified Endowment Contracts (MECs) |
| Life Insurance Basics | 18% | - Determining coverage amounts - Viatical settlements and specialized plans - Underwriting and policy issue - Personal and business uses of life insurance |
| Annuities | 12% | - Annuity principles and types - Fixed and specialty annuities - Immediate vs deferred annuities - Payment options and uses |
| General Insurance Concepts | 12% | - Types of insurers and market conduct - Agent authority and responsibilities - Elements of insurance contracts - Risk management and insurable interest |
If an agent does NOT send a refund to a policyholder within an expectable time frame, the agent may
Correct Answer: B 🗳️
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: C 🗳️
Under what circumstances must an agent provide his or her business records to the superintendent of
Insurance?
Correct Answer: B 🗳️
Which of the following statements BEST describes a single premium cash value policy?
Correct Answer: D 🗳️
The period after an annuity Is purchased but before distributions begin Is referred to as the
Correct Answer: B 🗳️
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