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Life Insurance Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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A producer takes applications from identical twins who want to buy the same type of policy in the same amount. The insurer issues the policies as applied for, but charges a 25 percent higher premium for one of the policies. The difference in premiums is probably due to which of the following ...

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  • September 6, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • life insurance questions 100 correct answers

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  • Life Insurance
  • Life Insurance

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2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!



Life Insurance Questions & 100% Correct
Answers- Latest Test | Graded A+ | Passed
A producer takes applications from identical twins who want to buy the same type of policy

in the same amount. The insurer issues the policies as applied for, but charges a 25 percent

higher premium for one of the policies. The difference in premiums is probably due to

which of the following factors?


✓ -:- Risk Classification--Grouping of different risks according to their estimated cost

or likely impact, likelihood of occurrence, countermeasures required, etc. Credit risk,

or example, is classified according to the likelihood of the collection of accounts

receivable.




The PRIMARY purpose of an inspection report is to assess an applicant's:


✓ -:- personal characteristics




All of the following policies may be examples of third party ownership EXCEPT:


✓ -:- Modified Life




An employer can deduct premium payments as an ordinary business expense for which of

the following life coverages?


✓ -:- Group



1|Page | Grade A+| 2024/2025

, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

Which of the following statements about a Renewable Term policy is CORRECT?


✓ -:- It is renewable at the option of the insured.




Which of the following provisions in a life policy specifies the manner in which proceeds will

be paid to a beneficiary on the death of the insured?


✓ -:- Settlement Options




Which of the following group life plans requires at least 75 percent of the eligible members

to participate?


✓ -:- Contributory




Which of the following annuities would BEST suit the needs of a 35-year-old factory worker

who is concerned about inflation and wants to establish a retirement plan?


✓ -:- A Flexible Premium Variable Annuity




A type of annuity in which the cash values are invested in securities is called:


✓ -:- Variable




Which of the following statements is CORRECT about Group Life conversion privileges?




2|Page | Grade A+| 2024/2025

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