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The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. When does the policy coverage become effective? {Ans: As of the application date}Which of the following describes the tax advantage of a qualified retirement plan? {Ans: The earnings in the plan accumulate tax deferred.}If an immediate annuity is purchased with the face amount at death or with the cash value at surrender, this would be considered a {Ans: Settlement option.}When the policyowner specifies a dollar amount in which installments are to be paid, he/she has chosen which settlement option? {Ans: Fixed amount}Which of the following is required to determine an applicant's eligibility for becoming licensed as an insurance producer in this state? {Ans: Fingerprints}The insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. It was determined that the accident was his fault. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. In this case, what will the policy beneficiary receive? {Ans: $100,000}