Ilka invests $90,000 in the PTO American Growth Segregated Fund with a maturity guarantee of 75%. PTO Insurance Company becomes insolvent and Ilka makes a claim for investor protection coverage. What amount will Ilka receive?
a)		$57,375
b)		$60,000
c)		$67,500
d)		$90,000

Benny applies and is approved for a whole life insurance policy through Grateful Life Insurance company. One week after paying his first premium and taking delivery of the policy, Benny decides that he doesnt need whole life insurance and the premiums are too costly. Which of the following CORRECTLY describes what Benny can do about his whole life policy?
a)		Benny can cancel the policy and receive a full refund of his premium.
b)		Benny cannot terminate his policy without incurring cancellation penalties.
c)		Benny can cancel the policy but Grateful Life will not refund his premium.
d)		Benny cannot cancel his policy but he can convert it to a different type of coverage.

Ramon applied for a term life insurance policy and was approved. He accepted the policy and began paying his regular monthly premiums. However, 3 years after accepting the policy, the insurer cancelled Ramons insurance coverage. Which of the following is a valid reason which would allow the insurer to cancel Ramons policy?
a)		Ramon was a non-smoker at the time of application but he started smoking last year.
b)		Ramon did not disclose that he had a heart attack 5 years ago.
c)		At the time of application, Ramon indicated he was age 40 when in fact he was age 46.
d)		Ramon used the policy as collateral assignment without notifying the insurer.