Exam (elaborations)
RMI 211 Exam Questions And Answers Latest Update
- Course
- RMI 211
- Institution
- Missouri State University
RMI 211 Exam Questions And Answers Latest Update
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RMI 211 Exam 4 2024-2025 QuestionsAnd Answers Latest Update
A contingency beneficiary in a life insurance policy has the right to - receive the
policy proceeds if the primary beneficiary dies before the insured
A legal reserve in life insurance is a result of - excess premiums in the early policy
years being invested at compound interest
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, All of the following are nonforfeiture options found in cash value life insurance
policies EXCEPT - reduction of premiums
All of the following are requirements that must be satisfied before premiums are
waived under a wave-of-premium provision EXCEPT - The insured must satisfy a 2-
year waiting period
All of the following statements about ordinary life insurance are true EXCEPT -
The face amount of the policy is paid if the insured lives to age 65
All of the following statements about the conversion of a term policy are true
EXCEPT - Evidence of insurability is required before a conversion is permitted
All of the following statements about the income tax treatment of individually-
purchased life insurance are true EXCEPT - premiums paid for the individual life
insurance are a tax deductible expense
An immediate life annuity offers all of the following benefits EXCEPT - immediate
annuity payments are entirely exempt from federal income tax
Ann is considering the purchase of a life insurance policy with these
characteristics: flexible premium payments, the insurance and savings
components are separate, the interest rate credited to the cash value is tied to a
changing market interest rate but a minimum interest rate is guaranteed, and a
monthly administrative fee is charged. Ann is considering buying - universal life
insurance
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