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Life Insurance Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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The net profit of an insurer, less any dividends paid out, is known as their: -:- Earned surplus A non-taxable refund of premium that may be returned to a policyowner by an insurance company under a participating life insurance policy is known as a: -:- Dividend The chance of loss without a...

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  • September 6, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • life insurance questions 100 correct answers
  • the net profit of an insurer less any dividends p

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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
The net profit of an insurer, less any dividends paid out, is known as their:


✓ -:- Earned surplus




A non-taxable refund of premium that may be returned to a policyowner by an insurance

company under a participating life insurance policy is known as a:


✓ -:- Dividend




The chance of loss without any possibility for gain is known as:


✓ -:- Pure risk




All of the following are true regarding participating life insurance policies issued by mutual

insurers EXCEPT:


✓ -:- Dividends are guaranteed to be paid if the insurer makes a profit




The entire contract provision on a life insurance policy states:


✓ -:- The entire contract includes the policy and the application, if attached




All of the following are true regarding adverse selection EXCEPT:

1|Page | Grade A+| 2024/2025

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

✓ -:- Insurers may discriminate against those who may incur losses in order to avoid it




Many insurers follow the principle of indemnity. To indemnify means to:


✓ -:- Make whole




Which of the following is true regarding the accelerated benefits rider:


✓ -:- Amounts paid out will reduce the future death benefit payable to a beneficiary




On employer group life, dependent children may be covered from birth until age:


✓ -:- 26




Under the CIC, all of the following are true when a person transacts insurance without a

valid license EXCEPT:


✓ -:- They are guilty of a felony




When an applicant reveals conditions that require more information the underwriter will

order:


✓ -:- An attending physician's statement




2|Page | Grade A+| 2024/2025

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