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Pearson Vue Life Insurance Practice Exam.
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Pearson Vue Life Insurance Practice Exam.
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Pearson Vue Life Insurance Practice ExamA client needs a substantial amount of protection but has limited financial resources.
Which of the following insurance policies would BEST meet the client's needs?
A.Term Life
B.Adjustable Life
C.Whole Life
D.Limited-Pay Life - ANS-A
A contract that has as its basic function the systematic liquidation of accumulated
assets through periodic payments is called an:
A.indemnity contract
B.investment contract
C.endowment
D.annuity - ANS-D
A contract that promises to pay an income to an insured until his/her death is called:
A.Family Income
B.Modified Endowment
C.Survivorship Life
D.Life Annuity - ANS-D
A life insurance application is incomplete if it is missing the signature of which of the
following?
A.A revocable beneficiary
, B.The president of the insurer
C.The proposed insured's primary care physician
D.The proposed adult insured - ANS-D
A life policy is usually contestable due to material misrepresentation on the application
for a period of:
A.30 days
B.6 months
C.2 years
D.5 years - ANS-C
A payor benefit rider provides which of the following benefits
A.A disability income benefit payable to the payor if the payor becomes disabled
B.A permanent waiver of premium should the payor die
C.A temporary waiver of premium should the payor die, until the insured reaches a
predetermined age
D.A double indemnity Death benefit payable to the beneficiary upon the death of the
payor - ANS-C
A policyowner names his wife as the primary beneficiary of his Universal Life policy on a
revocable basis. He also names his three children as his secondary beneficiaries and
his estate as his tertiary beneficiary. If the policyowner's wife predeceases him, and then
he dies, who will receive the policy proceeds?
A.The children
B.The policyowner's estate
C.The primary beneficiary's estate
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