Questões de Retirement and Other Insurance Concepts

1. TDI-PEARSONVUE — 2026

Which statement accurately describes full retirement age under Social Security?

1. A)It is fixed at age 65 for all workers
2. B)It varies based on the worker's year of birth
3. C)It is always age 62 with reduced benefits
4. D)It is determined by total quarters of coverage

Gabarito: B

Full retirement age (FRA) varies from 65 to 67 depending on birth year, gradually increasing for those born in 1938 and later under Social Security amendments.

2. TDI-PEARSONVUE — 2026

A 45-year-old woman wants to determine her life insurance needs using the human life value approach. Which factor is MOST relevant to this calculation?

1. A)Her outstanding debts and final expenses
2. B)The present value of her future earnings potential
3. C)Her current liquid assets and emergency fund
4. D)The number and ages of her dependents

Gabarito: B

The human life value approach calculates life insurance needs based on the present value of the insured's future earnings capacity, adjusted for inflation and discount rates, focusing on economic value rather than specific expenses.

3. TDI-PEARSONVUE — 2026

A self-employed consultant establishes a SEP IRA. In a year when her net self-employment income is high, she contributes the maximum allowed percentage. Who is eligible to receive employer contributions?

1. A)Only the owner
2. B)All employees who meet minimum age and service requirements
3. C)Only full-time employees
4. D)Only employees who elect to participate

Gabarito: B

SEP IRAs require employer contributions for all eligible employees who meet minimum requirements (typically age 21 and worked 3 of the last 5 years). Contributions must be made proportionally for all eligible participants, not just the owner.

4. TDI-PEARSONVUE — 2026

A business owner purchases a life insurance policy on a key employee and names the business as beneficiary. The business pays all premiums. Who is the policy owner?

1. A)The key employee
2. B)The business
3. C)The employee's spouse
4. D)Joint ownership between employee and business

Gabarito: B

In third-party ownership arrangements, the party paying premiums and named as applicant is the owner. The business owns the policy, the employee is the insured, and the business is the beneficiary.

5. TDI-PEARSONVUE — 2026

In a life settlement transaction, which party typically purchases the policy from the original owner?

1. A)The insurance carrier
2. B)A life settlement provider
3. C)The policy beneficiary
4. D)The state insurance department

Gabarito: B

A life settlement provider (or broker) purchases the policy from the owner for more than cash surrender value but less than the death benefit.

6. TDI-PEARSONVUE — 2026

A simplified employee pension (SEP) plan is best described as which type of arrangement?

1. A)A defined benefit plan funded by employee contributions
2. B)An employer-funded IRA arrangement
3. C)A profit-sharing plan requiring annual contributions
4. D)A nonqualified deferred compensation plan

Gabarito: B

SEP plans are employer-funded arrangements where contributions go into individual IRAs established for each eligible employee, with flexible employer contribution amounts.