This quiz covers key regulatory aspects for life agents, including license requirements, changes in personal details, and legalities around policy sales and premiums.
Within 6 months after the move has taken place
Within 6 months before the license is to expire
30 days before submitting a continuing education certficate
Immediately
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Intimidation
Rebating
Boycotting
Twisting
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Gender
Age
Nationality
All of the above
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True
False
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Participating in a plan to offer free insurance if a person buys some form of service.
Disregarding age in determination of insurance rates.
Refusing to apply the practice of twisting in sales.
All of the above are legal in the state of California.
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Estimate of employers premiums.
Certificate of insurance
Master policy
Monthly notification on a non-participating plan.
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An unethical practice
A clever and ethical practice
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The period of time after a life insurance application is written and the date the coverage takes effect.
The period of time when there is not enough income available as required by the insured's beneficiaries.
The period of time when a surviving spouse does not receive any social security benefits.
All of the above
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To have funds that can supplement Social Security at retirement
To cover a buy/sell agreement
For the creation of an immediate estate.
To have cash available for emergencies
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To provide the key employee's surviving family members with funds to live on after the death of the employee.
To help the employee's spouse supplement her Social Security benefits
To better allow the employee qualify for a bank loan.
To protect the company from the financial consequences of the death of a vice president.
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The employer will make a cash contribution to the estate of a deceased employee
The employer will contribute the full amount of the premium
The employee will contribute to the premium payments
None of the above
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It is for the most part, a voluntary program.
It is only meant to be a supplement to an individual's major income: it only supplies a minimum floor of income
The system is completely and fully funded
The amount each person gets out is nearly exactly what they put in.
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The majority of workers in the U.S.. must pay into the program.
The contributions paid in closely match the benefits received
Participants sign a contractual agreement with the insurer.
Both A and B above are true.
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