Colorado Insurance Exam-Life
Colorado Insurance Exam-Life,
Containing 72 Questions and Answers
Best Graded A+ 2024
What is the purpose of settlement options? - Answer: They determine how death
proceeds will be paid.
The minimum interest rate on an equity indexed annuity is often based on -
Answer: An index like Standard & Poor's 500.
The death benefit is $0 at the end of the policy term.
, Colorado Insurance Exam-Life
The contract pays only in the event of death during the term and there is no cash
value.
The face amount steadily declines throughout the duration of the contract. -
Answer: decreasing term policy
What may last for the lifetime of the annuitant. - Answer: annuity period
The paid-up addition option uses the dividend - Answer: To purchase a smaller
amount of the same type of insurance as the original policy.
The employer pays 100% of the premiums.
They help to reduce adverse selection against the insurer.
They require 100% employee participation. - Answer: noncontributory group plan
An individual has just borrowed $10,000 from his bank on a 5-year installment
loan requiring monthly payments. What type of life insurance policy would be
best suited to this situation? - Answer: Decreasing term
A man decided to purchase a $100,000 Annually Renewable Term Life policy to
provide additional protection until his children finished college. He discovered
that his policy - Answer: Required a premium increase each renewal.
Which of the following documents delivered to the policyowner includes
information about premium amounts, cash values, surrender values and death
benefits for specific policy years? - Answer: A policy summary
Colorado Insurance Exam-Life,
Containing 72 Questions and Answers
Best Graded A+ 2024
What is the purpose of settlement options? - Answer: They determine how death
proceeds will be paid.
The minimum interest rate on an equity indexed annuity is often based on -
Answer: An index like Standard & Poor's 500.
The death benefit is $0 at the end of the policy term.
, Colorado Insurance Exam-Life
The contract pays only in the event of death during the term and there is no cash
value.
The face amount steadily declines throughout the duration of the contract. -
Answer: decreasing term policy
What may last for the lifetime of the annuitant. - Answer: annuity period
The paid-up addition option uses the dividend - Answer: To purchase a smaller
amount of the same type of insurance as the original policy.
The employer pays 100% of the premiums.
They help to reduce adverse selection against the insurer.
They require 100% employee participation. - Answer: noncontributory group plan
An individual has just borrowed $10,000 from his bank on a 5-year installment
loan requiring monthly payments. What type of life insurance policy would be
best suited to this situation? - Answer: Decreasing term
A man decided to purchase a $100,000 Annually Renewable Term Life policy to
provide additional protection until his children finished college. He discovered
that his policy - Answer: Required a premium increase each renewal.
Which of the following documents delivered to the policyowner includes
information about premium amounts, cash values, surrender values and death
benefits for specific policy years? - Answer: A policy summary
