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INDIANA LIFE INSURANCE EXAM LATEST
WITHACTUAL QUESTIONS AND CORRECT
VERIFIED ANSWERS ALREADY GRADED A+
100% GUARANTEED PASS!
Which of the following is NOT a characteristic of a
Variable Annuity?
A. Premium Payments may be level or flexible or single
premium
B. The cash values are invested in securities.
C. The non-forfeiture values will provide for the return
of the cash value should the annuitant die during the
accumulation period.
D. It provides for a tax-free death benefit. - ....ANSWER
....✔✔ D. It provides for a tax-free death benefit.
Under a Whole Life Policy, what might happen to result
in a return of the premiums paid? - ....ANSWER ....✔✔
The insured's suicide during the suicide period as
designated in the policy.
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All of the following policies provide for the tax deferred
accumulation of cash value EXCEPT:
A. Interest Sensitive Whole Life
B. Single Premium Variable Annuity
C. Variable Universal Life
D. Term Life - ....ANSWER ....✔✔ D. Term Life
All of the following are true statements about the
taxation of life insurance benefits except:
A. Policy loans are taxed as ordinary income
B. The cash value in a life insurance policy grows on a
tax deferred basis.
C. The interest earned on the "interest" Settlement
Option is taxed as ordinary income.
D. The death benefit of a life policy is received by the
beneficiary federal income tax free. - ....ANSWER
....✔✔ A. Policy loans are taxed as ordinary income
Which of the following statements is true about the
Group Life conversion privilege?
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a. Death during the conversion period is covered even if
the departing employee chooses NOT to convert to an
individual policy.
b. The departing employee must pay the premium if
they elect to be covered during the conversion period.
c. If a departing employee elects to convert their life
insurance, the company must offer Term insurance as a
choice.
d. Under the COBRA laws a departing employee may
elect to remain a member of the Group Life plan for a
limited period of time. - ....ANSWER ....✔✔ A. Death
during the conversion period is covered even if the
departing employee chooses NOT to convert to an
individual policy.
Which of the following is a combination of Decreasing
Term and Whole Life?
a. Family Income Policy
b. Family Maintenance Policy
c. Modified Life
d. Family Policy - ....ANSWER ....✔✔ A. Family
Income Policy
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A type of Annuity in which the cash values are invested
in securities is called:
a. Variable
b. Deferred
c. Joint and Survivorship
d. Flexible premium - ....ANSWER ....✔✔ Variable
Mary is receiving an annuity payout from her Variable
Straight Life Annuity. Upon her death, which of the
following will be payable to her estate?
a. Nothing
b. The policy death benefit
c. The remaining value of her account
d. The total premiums paid into the account, less the
amount paid to Mary in benefits - ....ANSWER ....✔✔
A. Nothing
What is decreasing in a Decreasing Term policy?
a. The cash value
b. The premium
INDIANA LIFE INSURANCE EXAM LATEST
WITHACTUAL QUESTIONS AND CORRECT
VERIFIED ANSWERS ALREADY GRADED A+
100% GUARANTEED PASS!
Which of the following is NOT a characteristic of a
Variable Annuity?
A. Premium Payments may be level or flexible or single
premium
B. The cash values are invested in securities.
C. The non-forfeiture values will provide for the return
of the cash value should the annuitant die during the
accumulation period.
D. It provides for a tax-free death benefit. - ....ANSWER
....✔✔ D. It provides for a tax-free death benefit.
Under a Whole Life Policy, what might happen to result
in a return of the premiums paid? - ....ANSWER ....✔✔
The insured's suicide during the suicide period as
designated in the policy.
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All of the following policies provide for the tax deferred
accumulation of cash value EXCEPT:
A. Interest Sensitive Whole Life
B. Single Premium Variable Annuity
C. Variable Universal Life
D. Term Life - ....ANSWER ....✔✔ D. Term Life
All of the following are true statements about the
taxation of life insurance benefits except:
A. Policy loans are taxed as ordinary income
B. The cash value in a life insurance policy grows on a
tax deferred basis.
C. The interest earned on the "interest" Settlement
Option is taxed as ordinary income.
D. The death benefit of a life policy is received by the
beneficiary federal income tax free. - ....ANSWER
....✔✔ A. Policy loans are taxed as ordinary income
Which of the following statements is true about the
Group Life conversion privilege?
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a. Death during the conversion period is covered even if
the departing employee chooses NOT to convert to an
individual policy.
b. The departing employee must pay the premium if
they elect to be covered during the conversion period.
c. If a departing employee elects to convert their life
insurance, the company must offer Term insurance as a
choice.
d. Under the COBRA laws a departing employee may
elect to remain a member of the Group Life plan for a
limited period of time. - ....ANSWER ....✔✔ A. Death
during the conversion period is covered even if the
departing employee chooses NOT to convert to an
individual policy.
Which of the following is a combination of Decreasing
Term and Whole Life?
a. Family Income Policy
b. Family Maintenance Policy
c. Modified Life
d. Family Policy - ....ANSWER ....✔✔ A. Family
Income Policy
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A type of Annuity in which the cash values are invested
in securities is called:
a. Variable
b. Deferred
c. Joint and Survivorship
d. Flexible premium - ....ANSWER ....✔✔ Variable
Mary is receiving an annuity payout from her Variable
Straight Life Annuity. Upon her death, which of the
following will be payable to her estate?
a. Nothing
b. The policy death benefit
c. The remaining value of her account
d. The total premiums paid into the account, less the
amount paid to Mary in benefits - ....ANSWER ....✔✔
A. Nothing
What is decreasing in a Decreasing Term policy?
a. The cash value
b. The premium
