1) Any person who transacts insurance without a valid license is guilty of a misdemeanor punishable by a fine not exceeding $50,000 or by imprisonment in a county jail for a period not exceeding __year(s), or by both a fine and imprisonment.

Answer: 1(one) year

2) A written instrument in which a contract of insurance is set forth is a(n):

Answer: Policy

3) Regarding surviving spouse benefits under social security, the time interval between the date survivor benefits end, and the date benefits resume is known as the ____ period.

Answer: Blackout