Practice Test MI Life Producer EXAM QUESTIONS AND ANSWERS 100% ACCURATE!
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Course
MI Life Producer EXA
Institution
MI Life Producer EXA
Which of the following term insurance types provides temporary protection that can be changed to some type of permanent protection without evidence of insurability? - ANSWER Convertible
Which policy type is backed by equity investments and allows the policyholder to adjust the death benefit? - ...
, Practice Test MI Life Producer EXAM
QUESTIONS AND ANSWERS 100%
ACCURATE!
Which of the following term insurance types provides temporary protection that can be
changed to some type of permanent protection without evidence of insurability? -
ANSWER Convertible
Which policy type is backed by equity investments and allows the policyholder to adjust
the death benefit? - ANSWER variable universal life
Which of the following lists the three common types of permanent individual life
insurance? - ANSWER Variable Life, whole Life, Universal Life
Which of the following is common in an increasing term life policy - ANSWER It begins
with little or no insurance protection **
While the whole life policy premium type is the most common? - ANSWER Continuous
premium
Which of the following is TRUE of the limited pay whole life policy? - ANSWER
Coverage continues after the policy is paid-up
Which annuity settlement option provides a stated monthly amount to the annuitant and
upon the annuitant's death the same or lesser amount paid for the lifetime of the
survivor? - ANSWER Joint and survivorship option
Which of the following is TRUE of the equity-indexed annuity? - ANSWER It has a
guaranteed minimum interest rate **
In a level term life policy, which ALWAYS remains constant? - ANSWER death benefit
**
Current assumption whole life policies are sensitive to which of the following? -
ANSWER Interest rates **
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