Skip to main content

Section 10.3 Quiz

1
Section 10.3 Review

Buy-sell agreements can be drafted:

a)
b)
c)
d)
CORRECTTRY AGAIN (Lesson 10.3.1)Your answer has been saved.
Check your answer

2

Disability buy-outs are normally:

a)
b)
CORRECTTRY AGAIN (Lesson 10.3.2.1)Your answer has been saved.
Check your answer

3

With a partnership cross-purchase buy-sell plan, the surviving partners each take out a life policy on the others equal to ______ of the partner's share.

a)
b)
c)
d)
CORRECTTRY AGAIN (Lesson 10.3.2)Your answer has been saved.
Check your answer

4

In a close corporation, each stockholder carries an individual policy on the other stockholders according to their owned shares.

a)
b)
CORRECTTRY AGAIN (Lesson 10.3.2.2)Your answer has been saved.
Check your answer

5

In a partnership entity buy-sell plan, the business is also considered a partner.

a)
b)
CORRECTTRY AGAIN (Lesson 10.3.2.3)Your answer has been saved.
Check your answer

6

Premium payments are not and death benefits are not in a key person insurance plan.


Word bank: tax deductible, taxable

Premium payments are not tax deductible and death benefits are not taxable in a key person insurance plan.

Lesson 10.3.3Check your answer