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Practice Test MI Life Producer Exam Questions and Answers
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Practice Test MI Life Producer Exam Questions and Answers
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Practice Test MI Life Producer ExamQuestions and Answers
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 whole life policy premium type is the mot 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 **
Which of the following is TRUE for a flexible premium annuity? - Answer -The purchaser
has the option to vary the amount of each premium payment falling between a minimum
and maximum amount
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