CT Life and Health Exam Chapter 5

11 terms by billybran 

Create a new folder

Advertisement Upgrade to remove ads

Chapter 5 questions and review

75%

In a contribution group life insurance plan, what portion of eligible employees must participate before a policy is issued?

Group Term Life Insurance

Group life coverage must be incidental of the formation of the group. A certificate holder possesses the right to name a beneficiary. A conversion privilege is provided in most group life plans. These are all examples of ?

Flexible Premium Annuity

This may be used to fund an individual retirement account.

A Minister

A tax sheltered annuity is characterized by a salary reduction and tax deferral. A 58 year old male who is disabled, an administrative assistant to a company officer, and an employee of the federal government all can use this type of retirement vehicle.

A sole proprietor and eligible employees

A Keogh plan is designed for which of the following parties.

10%

Pre retirement pension plan distributions may occur prior to age 59 1/2. What penalty amount may be assessed for an early distribution?

Two Months

To avoid any penalties or adverse tax consequences, rollovers of qualified plans must be effected within how many months of withdrawal?

Employee of the State

A tax sheltered annuity provides reduced tax liability by means of a salary reduction. A private teacher, Minister, and Employee of non-profit agency are all eligable to participate in a 403 (b) tax sheltered annuity, this type of employee is not?

Section 457 plan

Qualified plans are more inclined to utilize a fixed or variable deferred annuity as its primary investment vehicle.

$50,000

Under group life insurance policy, an insured is provided as a tax free benefit up to what amount?

Non Qualified Differed Compensation

The Keogh plan, 403 (b) plan, 457 deferred compensation plan are all qualified retirement plans this is not one.

Please allow access to your computer’s microphone to use Voice Recording.

Having trouble? Click here for help.

We can’t access your microphone!

Click the icon above to update your browser permissions above and try again

Example:

Reload the page to try again!

Reload

Press Cmd-0 to reset your zoom

Press Ctrl-0 to reset your zoom

It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.

Please upgrade Flash or install Chrome
to use Voice Recording.

For more help, see our troubleshooting page.

Your microphone is muted

For help fixing this issue, see this FAQ.

Star this term

You can study starred terms together

NEW! Voice Recording

Create Set