LUTCF Course 3 study plan

Build a one-page comparison table of term, whole life, universal life, and variable life covering premium structure, cash value, and death benefit options

Explain and write out the tax treatment of death benefits, cash value growth, loans, and surrenders for each policy type

Distinguish fixed, indexed, and variable annuities by crediting method, risk bearer, and payout options

Map the main health insurance structures (indemnity, HMO, PPO, POS, HDHP with HSA) to network rules, cost sharing, and referrals

Work through 40 practice items on policy provisions, riders, and exclusions and log every miss with the reason

Explain disability insurance definitions of disability, benefit periods, elimination periods, and own-occupation versus any-occupation

Describe the coordination-of-benefits order and how Medicare interacts with employer group health and Medigap

Summarize underwriting concepts: insurable interest, conditional receipt, incontestability, and misstatement of age

Compare qualified plans (401(k), 403(b), defined benefit, SEP, SIMPLE) on contribution limits, vesting, and employer deduction rules

Explain IRA rules including contribution eligibility, deductibility phase-outs, Roth conversion, required minimum distributions, and the SECURE Act changes to RMD age

Calculate after-tax retirement income needs using a replacement-ratio approach and adjust for inflation

Identify the taxation of distributions, early withdrawal penalties, and the exceptions that apply

Distinguish nonqualified deferred compensation, executive bonus, and split-dollar arrangements by tax and control consequences

Explain employee benefit taxation: group life over 50,000 dollars, cafeteria plans, and employer-paid disability premiums

Describe investment risk types (market, interest rate, inflation, liquidity, credit) and match each to a suitable product

Compute risk and return basics: holding period return, real return, and the effect of expense ratios over time

Explain intestate succession, probate, and the roles of executor, administrator, and guardian

Compare wills, revocable living trusts, irrevocable trusts, and beneficiary designations for control and tax outcomes

Apply gift and estate tax concepts: annual exclusion, lifetime exemption, marital deduction, and stepped-up basis

Describe the suitability and documentation duties a producer owes, including needs analysis, replacement rules, and recordkeeping

Outline the steps of the financial planning process and the data needed for a client fact finder

Explain the role of the producer in practice management: prospecting, referral systems, and time blocking

Describe fiduciary versus suitability standards and the disclosure obligations each creates

Identify the main investment vehicles (mutual funds, ETFs, variable products, REITs) and their fee structures

Take a full-length timed practice exam and record the score by domain

Re-review the two weakest domains using your error logs and reference sheets

Rewrite every missed item from the full exam as a flashcard with a rule-based answer

Identify any domain where accuracy remains below 70 percent and schedule a targeted review

Drill the top 15 weak spots until each is answered correctly twice in a row without notes

Retake a second full-length timed exam and compare domain scores to week 7

Review ethics, suitability, and replacement rules one final time since they appear across domains

Confirm exam-day logistics and build a final one-page summary sheet