Life Insurance Exam Bundle Pack:::Questions and Answers |100% Correct

Life Insurance Exam Practice Questions and Answers | 100% Correct A producer takes applications from identical twins who want to buy the same type of policy in the same amount. The insurer issues the policies as applied for, but charges a 25 percent higher premium for one of the policies. The di...

Florida Life Insurance Use of Life Insurance Exam Practice Questions and Answers | 100% Pass Which of these is NOT a reason for a business to buy key person life insurance? - Answer️️ -A pension deficiency if the key employee dies An engineering firm that would suffer financially from the d...

6 - Group Life Insurance Exam Practice Questions and Answers | 100% Pass Under a trustee group life policy, who would be eligible for a certificate of coverage? - Answer️️ -Employee Group life insurance policies are generally written as - Answer️️ -annually renewable term Which require...

Life Insurance Policy Provisions Exam Practice Questions and Answers | 100% Correct An insured may apply for reinstatement of a life policy within what period of time after voluntarily surrendering the life policy? - Answer️️ -Never Who designates the beneficiary of a life insurance policy...

Texas Life Insurance Exam Practice Questions and Answers P completes an application for a $10,000 life policy, but does not give the producer the initial premium. P's coverage becomes effective when - Answer️️ -P receives the policy and pays the premium A potential client, age 40, would li...

Life Insurance Exam Practice Questions and Answers | 100% Pass Which nonforfeiture option provides coverage for the longest period of time? A. Paid-up option B. Accumulated at interest C. Reduced paid-up D. Extended term - Answer️️ -C. Reduced paid-up Which of the following is true about ...

PRIMERICA LIFE INSURANCE EXAM PRACTICE QUESTIONS AND ANSWERS | 100% PASS An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of ins...

Life Insurance and Auto Insurance, Life Insurance Exam Questions and Answers | 100% Pass You will pay substantially less for life insurance if which of the following factors is true? - Answer️️ -You are in good health When shopping for life insurance, you should look for: - Answer️️ -A ...

Life Insurance Exam Practice Questions and Answers | 100% Pass The tendency of a person diagnosed with a serious illness to try to buy life or health insurance is known as: - Answer️️ -adverse selection From an insurance perspective, underwriting is best defined as: - Answer️️ -the proc...

Page 1 of 6 Life Insurance- Exam 2 Practice Questions and Answers The automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value the amount of - Answer️️ -past due premiums that have not been paid by the end of the grace period If an insured dies during ...

Life Insurance Exam Practice Questions and Answers | 100% Pass Additional coverage can be added to a Whole Life policy by adding a(n) - Answer️️ - decreasing term rider All of these statements about the Waiver of Premium provision are correct EXCEPT - Answer️️ -Insured must be eligible ...

Life insurance Policies Exam Practice Questions and Answers Insured buys a 5 year level premium term policy with a face amount of $10000. Policy also contains renewability and convertibility options. When insured renews in 5 years, what happens to the premium? - Answer️️ -It will increase be...

Life Insurance 3 Exam Practice Questions and Answers An insurance company is domicilied in Montana and transacts insurance in Wyoming. Which term best describes the insurer's classification in Wyoming? - Answer️️ - Foreign -a foreign insurer is domiciled in one state and transacts in anothe...

Life insurance Exam Practice Questions and Answers | 100% Pass A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. This is a personal use of life insurance known as - Answer️️ -survivor protection Under what...

Life Insurance Exam Practice Questions and Answers | 100% Pass With respect to third-party ownership of life insurance in the personal insurance market, all the following statements are true EXCEPT: - Answer️️ -The insured has the right to name the beneficiary. When do funds in a deferred a...

CHAPTER 4 LIFE INSURANCE PRACTICE QUESTIONS AND ASNWERS | 100% PASS The correct answer is "Provide funds to help pay taxes". (Survivorship life insurance policies are useful in estate planning because they can provide money to pay taxes on assets.) - Answer️️ -1. How are survivorship life...

Texas Life Insurance exam Practice Questions and Answers | 100% Pass Who is considered a field underwriter? - Answer️️ -An agent When must insurable interest exist in life insurance? - Answer️️ -Application or issue date If no receipt is issued at the time of application, a statement of...

Life insurance and annuity Exam Practice Questions and Answers Adverse selection is characterized by: - Answer️️ -A sick person purchasing health insurance All the following policies and contracts are typically covered by state insurance guaranty associations. - Answer️️ -A term life in...

Life Insurance Primerica Exam Practice Questions and Answers Which will be included in a policy summary? - Answer️️ -Premium amounts and surrender values Why should the producer personally deliver the policy when the first premium has already been paid? - Answer️️ -To help the insured u...

Life Insurance Policies Practice Exam Questions and Answers A Whole Life policy furnishes a form of Permanent protection because it never has to be: A. Used for a loan B. Reduced C. Renewed or converted D. Reinstated - Answer️️ -Renewed or converted At age 30, Clark wishes to purchase a ...

Life Insurance Premiums, Proceeds and Beneficiaries Practice Questions and Answers | 100% Pass Over the course of a year, which premium payment mode is most expensive? Monthly Quarterly Semi-Annually Annually - Answer️️ -Monthly Sharon is the policyowner of a $50,000 life insurance polic...

Life Insurance Policies Exam Practice Questions and Answers The policyowner of a Universal Life policy may skip paying the premium and the policy will not lapse as long as a. the next month's premium is sufficient to cover both the current premium amount and the skipped amount b. the policy c...

Review life insurance Exam Practice Questions and Answers | 100% Pass An arrangement where an individual is authorized to act on behalf of another person or company is established through - Answer️️ -the law of agency The powers directly given to a producer in an agency contract are called -...

Life Insurance Certificate Exam Practice Questions and Answers | 100% Pass How to determine the accumulation value of a deferred annuity? - Answer️️ - Premiums paid + interest earned - expenses and withdrawals Which of the following entities does NOT establish regulations for variable insura...

Life Insurance Policies Exam Practice Questions and Answers | 100% Pass What does "level" refer to in the level term insurance? - Answer️️ -Face amount The death protection component of a universal life policy is expressed as what type of coverage? - Answer️️ -Annually renewable term ...

Life Insurance Exam Study Guide with Complete Solutions The net profit of an insurer, less any dividends paid out, is known as their: - Answer️️ - Earned surplus A non-taxable refund of premium that may be returned to a policyowner by an insurance company under a participating life insuranc...

Life Insurance Exam Practice Questions and Answers |100% Pass The Commissioner conducts an examination of a domestic insurer and believes that the costs of examination places an unreasonable financial burden on the insurer. Which of the following will happen? a. The federal government will abso...

Life Insurance Exam Practice Questions and Answers | 100% Pass What are residual disability income insurance payments based on? - Answer️️ -The amount of the insured's income is reduced by the disability The CA insurance code requires that an insurer must have enough assets to cover its li...

LIFE insurance Exam Practice Questions and Answers | 100% Pass Which health insurance contract provision addresses the problem of over insurance? - Answer️️ -Coordination of Benefits Which health provision protects an insured from the expense of a catastrophic illness? - Answer️️ -Stop-...

Life insurance Exam Practice Questions and Answers | 100% Pass A closed network plan offers a primary physician copay of $25. If a subscriber chooses a primary care physician outside of the network the subscriber will likely pay - Answer️️ -100% of the billed amount The fair credit reportin...

Life & Health Insurance Exam Practice Questions and Answers | 100% Verified In insurance, a type of risk that involves the chance of loss or gain and which is therefore uninsurable is called - Answer️️ -speculative risk: Speculative risk is risk that may result in loss or gain. This type of ...

Life Insurance: The Insurance Marketplace Practice Questions and Answers | 100% Pass An insurance company and its agents must notify all applicants and policyholders of information-gathering processes utilized for written application transactions - Answer️️ -At the time of delivery of the p...

Life Insurance - Disability Insurance Exam Study Guide with Complete Solutions The more hazardous an occupation is - Answer️️ -The higher the insurance premiums will be. Presumptive disability - Answer️️ -A provision that is found in most disability income policies that specifies condi...

Life Insurance Exam Practice Questions and Answers | 100% Pass All of the following statements concerning the use of life insurance as an Executive Bonus are correct EXCEPT - Answer️️ -The policy is owned by the company Which of the following options best depicts how the eligibility of membe...

Premerica Exam Practice Questions and Answers | 100% Pass What is the timeframe for filling relevant suspicious activity reports - Answer️️ -30 days of initial discovery in the underwriting process, it was discovered that the applicant for life insurance is in poor health & has same dangero...

Life Insurance Exam Practice Questions and Answers | 100% Pass A ______________ insurance company is owned by its policyholders. a. Stock b. Reciprocal c. Fraternal Benefits Society d. Mutual - Answer️️ -D Its members, also called policyholders, own a mutual insurance company. Which of t...

life insurance exam questions and answers | 100% pass Life insurance replacement regulation is designed to protect the interests of the _____ - Answer️️ -policy owner Which product would best serve a retired individual looking to invest a lump-sum of money through an insurance compant? - An...

Life Insurance - Chapter 1 Premerica Exam Practice Questions and Answers | 100% Pass 1. When does an insurance policy go into effect? - Answer️️ -When the policy is delivered and the premium is paid 2. How is the information obtained for an investigative consumer report? - Answer️️ - T...

Premerica exam Practice Questions and Answers | 100% Pass Which of the following is TRUE about credit life insurance? - Answer️️ -Creditor is the policyowner The individual conversion policy CANNOT exceed - Answer️️ -The amount of insurance being terminated. A banker is ready to close ...

Life insurance Exam Practice Questions and Answers | 100% Pass If a retirement plan or annuity is "qualified," this means - Answer️️ -It has favorable tax treatment If an insurer makes a statement that is policies are guarantee by the existence of the Insurance guaranty association, that ...

Group Life Insurance Exam Practice Questions and Answers | 100% Verified A method of marketing group benefits to employers who have a small number of employees is the MET Blanket Life Insurance ART Small Employer Trust - Answer️️ -MET (A method of marketing group benefits to employers wh...