| This list shows all of the questions that you missed in the session you just completed. The answer you selected is in bold. The correct answer is highlighted in green. |
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| #1. | In a direct rollover, how is the money transferred from one plan to the new one? |
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| a) | From the original plan to the original custodian |
| b) | From trustee to trustee |
| c) | From trustee to the participant |
| d) | From the participant to the new plan |
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| | In a direct rollover, the distribution is made directly from the trustee of the first plan to the trustee or administrator/custodian of the new IRA plan. |
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| #7. | An insurance producer who by contract is bound to write insurance for only one company or group of companies is classified as a/an |
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| a) | Solicitor. |
| b) | Broker. |
| c) | Independent producer. |
| d) | Captive agent. |
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| | A captive/exclusive agent has agreed, by contract, to produce insurance business only for the insurer they are contracted with. |
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| #10. | Issue age policy premiums increase in response to which of the following factors? |
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| a) | Inflation |
| b) | Age |
| c) | Increased benefits |
| d) | Increased deductible |
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| | The premiums of issue age policies can only increase in response to an increase in benefits. |
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| #11. | Which of the following is NOT a characteristic of a group long-term disability plan? |
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| a) | The benefit can be up to 50% of one's yearly income. |
| b) | The elimination period is the same as in the short-term plan's benefit period. |
| c) | The benefit period may be to age 65. |
| d) | The benefit can be up to 66 and 2/3% of one's monthly income. |
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| | The maximum benefit is based upon monthly income. |
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| #19. | When an annuity is written, whose life expectancy is taken into account? |
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| a) | Life expectancy is not a factor when writing an annuity. |
| b) | Owner |
| c) | Annuitant |
| d) | Beneficiary |
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| | The annuitant receives payments from an annuity and is the person whose life expectancy is considered when writing the contract. The annuitant and annuity owner are often the same person but do not have to be. |