Question 1

An immediate annuity is designed to make its first benefit payment to the annuitant typically

Options :

A : When the accumulation period, of at least 24 months, ends.

B : In the form of a lump sum payment.

C : Only after all cash surrender values, with interest, have been calculated.

D : One month from the annuity’s purchase date.

Answer: D

Question 2

Continuing education credits may be earned for completing which of the following courses?

Options :

A : Salesmanship courses.

B : CLU designation courses.

C : Personal motivation courses.

D : Prelicensing examination courses.

Answer: B

Question 3

Generally, if an application is not prepaid, the effective date of coverage begins on the date the

Options :

A : Application is signed.

B : Application is postmarked and mailed to the insurer.

C : Company underwriter approves the risk.

D : Producer delivers the policy and collects a premium.

Answer: D

Question 4

An individual must be a licensed producer in order to take which of the following actions?

Options :

A : Compile the names and addresses of prospective insureds for marketing purposes.

B : Accept premiums from insureds at a recorded place of business.

C : Discuss the effects of age or health on premiums with a prospective insured.

D : Type binders or certificates.

Answer: C

Question 5

The Producer Licensing regulation requires that a branch office be open to the public

Options :

A : No less than forty hours per week.

B : Monday through Friday from 8 a.m. to 5 p.m.

C : At least one evening per week and one Saturday per month.

D : On a posted schedule that provides reasonable access.

Answer: D

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