Question 1

The personal liability umbrella policy requires the policy owner to maintain minimum levels of:

Accepted Answer

A)  Automobile insurance. 
B)  Directors' and officers' insurance. 
C)  Errors and omissions insurance. 
D)  Malpractice insurance. 
A)  Automobile insurance. 
B)  Directors' and officers' insurance. 
C)  Errors and omissions insurance. 
D)  Malpractice insurance. A

Question 2

A contract that pays the insured a specific daily amount (based on scheduled limits) for services to assist with the activities of daily living is:

Accepted Answer

A)  Annuity insurance. 
B)  Disability insurance. 
C)  Long-term care insurance. 
D)  Medical insurance. 
A)  Annuity insurance. 
B)  Disability insurance. 
C)  Long-term care insurance. 
D)  Medical insurance. C

Question 3

Taxation of a withdrawal from an annuity contract is on a:

Accepted Answer

A)  First-in, first-out basis. 
B)  First-in, last-out. 
C)  Last-in, first-out basis. 
D)  Last-in, last-out basis. 
A)  First-in, first-out basis. 
B)  First-in, last-out. 
C)  Last-in, first-out basis. 
D)  Last-in, last-out basis. C

Question 4

IRC Section 1035 allows the owner of an annuity contract to exchange an existing annuity contract for a new one, without:

Accepted Answer

A)  Paying long-term capital gains tax on the investment gains in the current contract. 
B)  Paying ordinary income tax on the investment basis in the current contract. 
C)  Paying ordinary income tax on the investment gains in the current contract. 
D)  Paying short-term capital gains tax on the investment gains in the current contract. 
A)  Paying long-term capital gains tax on the investment gains in the current contract. 
B)  Paying ordinary income tax on the investment basis in the current contract. 
C)  Paying ordinary income tax on the investment gains in the current contract. 
D)  Paying short-term capital gains tax on the investment gains in the current contract.

Question 5

The owner of a condominium needs which of the following insurance policies?

Accepted Answer

A)  HO-3. 
B)  HO-4. 
C)  HO-5. 
D)  HO-6. 
A)  HO-3. 
B)  HO-4. 
C)  HO-5. 
D)  HO-6.

Question 6

Loss assessment coverage is provided under:

Accepted Answer

A)  HO-3. 
B)  HO-4. 
C)  HO-5. 
D)  HO-6. 
A)  HO-3. 
B)  HO-4. 
C)  HO-5. 
D)  HO-6.

Question 7

If an individual receives a Social Security disability benefit from the government, which benefit from an insurance company may be terminated or reduced?

Accepted Answer

A)  Cost-of-Living Adjustment (COL
A)    benefit. 
B)  Guaranteed Renewable Disability benefit. 
C)  Option to Purchase Additional Insurance benefit. 
D)  Social Insurance Substitute benefit. 
A)  Cost-of-Living Adjustment (COL
A)    benefit. 
B)  Guaranteed Renewable Disability benefit. 
C)  Option to Purchase Additional Insurance benefit. 
D)  Social Insurance Substitute benefit.

Question 8

Comprehensive losses are damages caused by events other than:

Accepted Answer

A)  Breakage of glass. 
B)  Collision. 
C)  Theft. 
D)  Vandalism. 
A)  Breakage of glass. 
B)  Collision. 
C)  Theft. 
D)  Vandalism.

The personal liability umbrella policy requires the policy owner to maintain minimum levels of:

A contract that pays the insured a specific daily amount (based on scheduled limits) for services to assist with the activities of daily living is:

Taxation of a withdrawal from an annuity contract is on a:

IRC Section 1035 allows the owner of an annuity contract to exchange an existing annuity contract for a new one, without:

The owner of a condominium needs which of the following insurance policies?

Loss assessment coverage is provided under:

If an individual receives a Social Security disability benefit from the government, which benefit from an insurance company may be terminated or reduced?

Comprehensive losses are damages caused by events other than:

Personal Financial Planning

The Statement on Standards in Personal Financial Planning Services

Time Value of Money Concepts

Fundamentals of Personal Financial Planning

Estate Planning Basics

Charitable Gift Planning Basics

Principles of Risk and Insurance

Insurance Planning Basics, Part I

Investment Basics

Investment Planning

Planning for Retirement and Financial Independence

Planning Vehicles for Retirement

Elder Planning Basics

Education Planning Basics

Applications in Estate Planning

Applications in Risk Management

Applications in Investment Planning

Applications in Planning for Retirement

Applications in Employee Benefits Planning

Applications in Executive Compensation Planning

Applications in Personal Financial Planning in Special Circumstances

Delivery Models and Regulatory Issues

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Exam 9: Insurance Planning Basics, Part II

The personal liability umbrella policy requires the policy owner to maintain minimum levels of:

A contract that pays the insured a specific daily amount (based on scheduled limits) for services to assist with the activities of daily living is:

Taxation of a withdrawal from an annuity contract is on a:

IRC Section 1035 allows the owner of an annuity contract to exchange an existing annuity contract for a new one, without:

The owner of a condominium needs which of the following insurance policies?

Loss assessment coverage is provided under:

If an individual receives a Social Security disability benefit from the government, which benefit from an insurance company may be terminated or reduced?

Comprehensive losses are damages caused by events other than:

Personal Financial Planning

The Statement on Standards in Personal Financial Planning Services

Time Value of Money Concepts

Fundamentals of Personal Financial Planning

Estate Planning Basics

Charitable Gift Planning Basics

Principles of Risk and Insurance

Insurance Planning Basics, Part I

Investment Basics

Investment Planning

Planning for Retirement and Financial Independence

Planning Vehicles for Retirement

Elder Planning Basics

Education Planning Basics

Applications in Estate Planning

Applications in Risk Management

Applications in Investment Planning

Applications in Planning for Retirement

Applications in Employee Benefits Planning

Applications in Executive Compensation Planning

Applications in Personal Financial Planning in Special Circumstances

Delivery Models and Regulatory Issues

Filters