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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: General Insurance Concepts | 12% | - Risk management and insurable interest - Elements of insurance contracts - Agent authority and responsibilities - Types of insurers and market conduct |
| Topic 2: Insurance Regulation | 12% | - Disciplinary actions and penalties - Continuing education requirements - Resident and non-resident rules - State and federal insurance laws - Licensing requirements and maintenance |
| Topic 3: Life Insurance Basics | 18% | - Determining coverage amounts - Underwriting and policy issue - Personal and business uses of life insurance - Viatical settlements and specialized plans |
| Topic 4: Annuities | 12% | - Immediate vs deferred annuities - Annuity principles and types - Payment options and uses - Fixed and specialty annuities |
| Topic 5: Types of Life Insurance Policies | 12% | - Whole life and permanent life - Group and credit life insurance - Universal and indexed universal life - Term life insurance |
| Topic 6: Federal Tax Considerations | 12% | - Tax treatment of annuities - Modified Endowment Contracts (MECs) - 1035 Exchanges and rollovers - Taxation of life insurance proceeds |
| Topic 7: Policy Provisions, Options & Riders | 22% | - Dividends, loans and withdrawals - Beneficiary designations - Standard policy provisions - Nonforfeiture and settlement options - Common policy riders |
Which Is the name of the policy that combines a universal life policy with investment choices?
Correct Answer: A 🗳️
An Insurer would consider which of the following In determining whether to accept a group life plan?
Correct Answer: B 🗳️
Rob, Joe, and Mike are brothers who have a $60,000 "first-to-die" Joint life policy covering all three of their
lives. If Joe dies first, the policy proceeds
Correct Answer: A 🗳️
When a beneficiary Inherits a traditional IRA, which of the following Is TRUE about taxation when the money
is withdrawn? The beneficiary pays
Correct Answer: B 🗳️
At what age can an Individual begin to receive distributions from an IRA without a tax penalty?
Correct Answer: A 🗳️
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