QUESTION 29

1. The information acquired from 3rd party is the basis for issuing the policy.

True

False

QUESTION 30

1. Both insurance adjuster and consultant would need to be licensed in Kentucky to conduct business.

True

False

QUESTION 31

1. A business entity may be licensed as an adjuster.

True

False

QUESTION 32

1. All policies need to have a policyholder's right to examine and return provision.

True

False

QUESTION 33

1. Benefits received with long-term-care insurance is received generally income tax free provided the benefits do not exceed actual expenses.

True

False

QUESTION 34

1. Premiums paid for disability policy to fund buy-sell agreement are tax deductible.

True

False

QUESTION 35

1. Agent's responsibility to the insurer is associated with policy placement.

True

False

QUESTION 36

1. There are two factors for the credit life insurance premium: insureds' health status and the outstanding loan amount.

True

False

QUESTION 37

1. The face amount of credit insurance usually increases over time due to the accumulation of cash value.

True

False

QUESTION 38

1. The KY life and health guaranty association provides a guarantee fund for those insurers that are insolvent.

True

False

QUESTION 39

1. For group policies, the premium is deductible as business expense for the employer and the benefit is received income-tax free for the employee.

True

False