Alabama State Insurance Exam FX Questions And Answers.
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Course
Alabama State Insurance
Institution
Alabama State Insurance
All of the following are features and requirements of the Living Needs Rider EXCEPT - Diagnosis
must indicate that death is expected within 3 years.
All of the following applicants for an insurance producer license are exempt from prelicensing education
requirements EXCEPT - An applicant for a d...
Alabama State Insurance Exam FX
All of the following are features and requirements of the Living Needs Rider EXCEPT - Diagnosis
must indicate that death is expected within 3 years.
All of the following applicants for an insurance producer license are exempt from prelicensing education
requirements EXCEPT - An applicant for a dealer's license.
A couple owns a life insurance policy with a Children's Term rider. Their daughter is reaching the
maximum age of dependent coverage, so she will have to convert to permanent insurance in the near
future. Which of the following will she need to provide for proof of insurability? - Proof of
insurability is not required.
A deferred annuity is surrendered prior to annuitization. Which of the following best describes the
nonforfeiture value of the annuity? - The surrender value should be equal to 100% of the
premium paid, minus any prior withdrawals and surrender charges.
A family's income need is greatest during which period? - Family Income Dependency
A group of 15 skydivers met at a seminar and began talking about life insurance during a break. Because
it was expensive to get individual life insurance, they decided to band together to form a small group so
that they could qualify for group life insurance. After they applied for group life insurance, they were
rejected. Why? - The purpose of the group was to purchase life insurance.
A policy will pay the death benefit if the insured dies during the 20-year premium-paying period, and
nothing if death occurs after the 20-year period. What type of policy is this? - 20 year level term
A policyowner who is also the insured wants to name her husband as the beneficiary of her life policy.
She also wishes to retain all of the rights of ownership. The policyowner should have her husband
named as the - Revocable beneficiary
A producer has become disabled. In order to keep his business going, what may his designee do? -
Obtain a temporary license
, A producer who fails to segregate premium monies from his own personal funds is guilty of -
Commingling
A rider attached to a life insurance policy that provides coverage on the insured's family members is
called the - Other-insured rider.
A Universal Life Insurance policy is best described as a/an - Annually Renewable Term policy with
a cash value account.
According to the Entire Contract provision, a policy must contain - A copy of the original
application for insurance.
All of the following are beneficiary designations EXCEPT - Specified
All of the following are business uses of life insurance EXCEPT - Funding against general company
financial loss.
All of the following are true of key person insurance EXCEPT - The plan is funded by permanent
insurance only.
All of the following are true regarding insurance policy loans EXCEPT - Policy loans can be made on
policies that do not accumulate cash value.
All of the following entities regulate variable life policies EXCEPT - The Guaranty Association.
All of the following statements concerning the use of life insurance as an Executive Bonus are correct
EXCEPT - The policy is owned by the company.
All other factors being equal, which of the following lists from the largest annual premium to the
smallest annual premium? - 20-year endowment, 20-pay life, 20-year level term, 20-year
decreasing term
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