Granum
According to Granum how many FactFinders do you need to get 1 NC?
3
How do you achieve Power of 10?
Producing 10 paid for lives in the awards year.
Northwestern Mutual’s Home office is currently located where in the U.S?
Milwaukee, WI
Explain the difference between Whole Life and Term Life Insurance.
Whole life insurance- permanent death benefit, builds cash value, premiums never increase.
Term life insurance- temporary, no cash value, premiums can increase.
10-20%
According to Granum what percentage of new FactFinders will keep?
30-40%
How does an intern earn a pacemaker award?
By achieving 2 NC in the month of June.
Northwestern Mutual’s current CEO is who?
John Schlifske
When is disability insurance provided by an employer taxed?
If it is paid for by the employer?
What is the difference between a Traditional IRA and a Roth IRA.
Bonus points for what is the limit you fund in a Roth each year.
Traditional IRA is tax deductible today, pay taxes later. Roth IRA after tax dollars today, never pay taxes again.
Bonus; $6500 (if over age 50 then $7500).
According to Granum how many dials would you need to make to achieve 15 sets.
120 dials
What is Mike Gish?
Top 10 new advisor in their first year after the internship.
Northwestern Mutual has given a dividend to their life insurance policy holders every single year since when?
Northwestern has provided a dividend to their policyholders every single year since 1872.
10-15x their income.
What is the income limit for funding a Roth IRA?
2023- less than $153,000 filing single & less than $228,000 for married filing jointly
According to Granum's NC Acquisition Chart, if you complete 300 FactFinders in your first year how many clients will that yield in years 1, 2 and 3?
Year 1 60 NC, Year 2 30 NC, Year 3 9 NC
What is Forum?
The top 3% of all financial advisors
Northwestern Mutual in 2020 was given a AAA credit risk with a stable outlook by Moody’s Crediting Agency. Currently what is the only other U.S company to hold that rating?
Microsoft
What are 2 of the 3 ways a client can access their cash value in a Life Insurance policy?
Bonus points for knowing all three.
Surrender/partial surrender, policy loan, using the policy as collateral/line of credit.
The rule of 72 is a quick way to find out what?
A) Length of time between market cycles
B) Calculating someone’s effective tax rate
C) Determining how long it takes an account to double in value
D) Calculating an expense ratio
C = Determining how long it takes an account to double in value
According to Granum what is the Magnificent Obsession?
It is 1,000 NC in your career.
What all goes into calculating a Top 10 intern?
Lives, New Clients, Premium, and Plans created
What is a Mutual Company?
Profits (dividends) go to policy owners/clients versus shareholders.
In regards to disability insurance which contracting language would be the strongest for protecting the client?
A) Guaranteed Renewable with Own Occupation
B) Guaranteed Renewable with Any Occupation
C) Non Cancellable Guaranteed Renewable with Own Occupation
D) Non Cancellable Guaranteed Renewable with Any Occupation
C = Non Cancellable guaranteed renewable with Own Occupation = Non Cancellable makes it so the insurance company cannot change the rate on for any reason. Own occupation is specific to the material and substantial duties of the occupation of the client.
What is the difference between active and passive management?
Active management takes an active role in picking and choosing stock in portfolio; mutual fund or ETF.
Passive management typically tracks an index like the S&P 500.