With regard to the tax treatment of medical expenses, which of the following statements is CORRECT?

A) Medical expenses, reimbursed or unreimbursed, are always deductible from an insured's income for taxation purposes.

B) Benefits received under an individual accident and health plan are taxable income to the recipient.

C) Unreimbursed medical and dental expenses are deductible by an individual taxpayer to the extent they exceed 15% of his or her adjusted gross income.

D) Personal medical and dental expenses reimbursed by insurance are not deductible.

Answer: D) Personal medical and dental expenses reimbursed by insurance are not deductible.

Insurance

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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All of the following are considered limited lines of authority EXCEPT
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What does the word "level" in Level Term describe?
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The voluntary relinquishment of a legal right is called
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Who is responsible for assembling the policy forms for insureds?
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Which of the following is NOT true regarding the accumulation period of an annuity?
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