FPQP Actual Exam Actual Questions With Answers

FPQP Actual Exam Actual / Questions With Answers

Which one of the following is not a viable dividend option for life insurance policies from a mutual company? - --- Answersd---Reinvest to purchase additional shares of the company's stock

Which one of the following is a viable dividend option for life insurance policies from a mutual company? - ---Answersd--- Receive in cash Use to purchase "paid-up" additions to the policy Apply to future premiums

Carla recently had emergency surgery. Expenses for the surgery were Carla's only medical expenses so far this year.She has a comprehensive major medical policy with a $2,500 annual deductible, and an 80%/20% coinsurance provision with a maximum out-of-pocket (MOOP) amount of $7,500. If Carla's total bill was $10,500, how much will the insurance company pay on the claim? - ---Answersd---bill 10,500 - ded 2,500 = 8000 80% of 8k is 6400

Which one of the following is a CORRECT statement regarding long-term care (LTC) coverage? - ---Answersd---In addition to the ADLs, cognitive impairment is a benefit trigger for qualified LTC insurance policies.

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Which one of the following is a CORRECT statement regarding annuities? - ---Answersd---Variable deferred annuities generally have earnings that vary during the accumulation and annuity periods.

Who can contribute to a health savings account (HSA)? - --- Answersd---An individual with a high deductible health care plan

The most complete and absolute form of property ownership is

• ---Answersd---fee simple

The benefits of using trusts in estate planning include which of the following? - ---Answersd---They can accumulate income for later distribution to a beneficiary.They enable the grantor to provide for a surviving spouse with lifetime benefits, while ensuring the remainder goes to another beneficiary.Trusts can provide income, gift, and estate tax savings.Trusts can eliminate the need to have assets pass through probate upon the death of the grantor-owner.

Which one of the following items is correctly matched with the financial statement on which it would be found? - --- Answersd---Insurance premium payment —cash flow statement

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Sam has just purchased an antique painting at an estate sale for $450. He believes he got a great deal on the painting, and that he can sell it for $1,000 next year after he does some restoration work. If he is able to sell the painting for this price a year from today, what would be his annualized return? - --- Answersd---bought 450 sell 1000 net 550

550/450=1.22 *100=122%

Sue has both an individual account with her local FDIC insured bank, as well as a joint account with her brother Dean. What is the maximum amount of FDIC insurance that Sue could have personally with these two accounts? - ---Answersd---

500,000

Purchasing power risk is related to - ---Answersd---the rate of inflation.

Passive losses are best described as losses from - --- Answersd---a business in which the investor does not materially participate.

Vince works for Titan Industries, which contributes to a profit- sharing plan for all of its employees. The plan uses 2-to-6- year graded vesting, and Vince's current balance in the account is $10,000. If Vince were to leave for another job, and he has completed four years of service, what would his vested balance amount be? - ---Answersd---Vince has completed

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