Exam Guide

Variable annuity {Ans: Which of the following products requires a securities license?}Equal to the original policy for as long a period of time that the cash values will purchase. {Ans: When a life insurance policy is cancelled and the insured has selected the extended term nonforfeiture option, the cash value will be used to purchase term insurance that has a face amount}For 20 years or until death, which occurs 1st. {Ans: Under a 20-pay whole life policy, in order for the policy to pay the death benefit to a beneficiary, the premium must be paid}Settlement option {Ans: If an immediate annuity is purchased with the face amount at death or with the cash value at surrender, this would be considered a}A 60- year old man {Ans: All other factors being equal, which of the following individuals would receive the largest monthly cheack from a single premium straight life immediate annuity?}Expenses {Ans: The factor added to the net premium to cover the costs of the insurer in obtaining and maintaining the business is called?}An index like Standard & Poor's 500. {Ans: The equity index annuity is linked to}To purchase a smaller amount of the