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3. Road To RMD: Business Fundamentals

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Owning Your Business with FFS

2 Topics
|
1 Quiz
1. Business Ownership
  1. Business Ownership Quiz
2. Owning Your Business with FFS Assignment
How Your FFS Business is Structured

2 Topics
|
1 Quiz
1. FFS Business Structure
  1. FFS Business Structure Quiz
2. How Your FFS Business is Structured Assignment
How It Works

10 Topics
|
6 Quizzes
Your FFS Base Shop is the Foundation of Your Business

2 Topics
|
1 Quiz
1. Your Base Shop
  1. Base Shop: Foundation of Your Business Quiz
2. Your FFS Base Shop is the Foundation of Your Business Assignment
Coaches, Make Success Tracks™ Work for You

2 Topics
|
1 Quiz
1. Coaching with Success Tracks™
  1. Coaches, Make Success Tracks Work For You Quiz
2. Coaches, Make Success Tracks™ Work for You Assignment

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Quiz 4 of 10

Commissions Quiz

3. Road To RMD: Business Fundamentals How It Works Commissions Commissions Quiz

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Question 1 of 7

1. Question
What does Commission Qualified (CQ) mean?
- The commission FFS pays out is qualified for Federal and State taxes.
- An agent has satisfied the requirements needed to be paid commission by FFS.
- An agent has passed their resident state Life license exam and has sent the results to the Home Office to document.
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Question 2 of 7

2. Question
What is a Commission Chargeback?
- When a Carrier asks for the commissions which they have already paid out on a policy back.
- It is when the client’s bank account is charged for the commission.
- The amount of commission that FFS charges agents as fees.
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Question 3 of 7

3. Question
What is Target Premium?
- The suggested premium level to be paid throughout the life of the contract.
- The amount of commission targeted by FFS Agents.
- The amount a client must pay to completely pay off a policy.
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Question 4 of 7

4. Question
What is Excess Premium?
- The extra pages of the policy that can be thrown away.
- The remaining money left in the client’s bank account after the first payment has been made on the policy.
- Every premium dollar paid throughout the life of the contract over the target premium.
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Question 5 of 7

5. Question
With “As Earned” commissions, when does the carrier pay the commissions?
- When the agent has proved they have worked hard and earned it.
- When FFS decides to pay commissions to the agents.
- Every time the client makes a premium payment.
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Question 6 of 7

6. Question
All FFS carriers pay commissions as a 100% advance.
- True
- False
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Question 7 of 7

7. Question
What will the carrier base the advance on if there is no Target Premium?
- The Annual Premium amount.
- The amount the client pays every month.
- The Face Amount of the policy.
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