Pearson Vue Life Insurance Practice Exam questions with complete solutions.
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Pearson Vue Life Insurance Practice
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Pearson Vue Life Insurance Practice
Pearson Vue Life Insurance Practice Exam questions with complete solutions.
P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the:
A.irrevocable beneficiary
...
pearson vue life insurance practice exam questions
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Pearson Vue Life Insurance Practice Exam questions with complete solutions. P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: A.irrevocable beneficiary B.revocable beneficiary C.secondary beneficiary - correct answers.B A contract that has as its basic function the systematic liquidation of accumulated assets through periodic payments is called an: A.indemnity contract B.investment contract C.endowment D.annuity - correct answers.D An insurance producer takes an application for a life insurance policy but does not collect the initial premium. On delivery of the policy to the proposed insured, the producer must collect the initial premium and which of the following? A.A copy of the M IB report B.The insured's signed statement of continued good health C.A copy of the conditional receipt D.A copy of the temporary insurance agreement that covered the period between the application date and the delivery date. - correct answers.B An emp loyer can deduct premium payments as an ordinary business expense for which of the following life coverages? A.Buy and Sell Agreements B.Group C.Key Employee D.Joint Life, if the business is named as the beneficiary - correct answers.B A producer takes a pplications 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 whic h of the following factors? A.Incontestability B.Insurable interest C.Consideration D.Risk classification - correct answers.D In the event of an insured's death, which of the following provides an income for the family during a designated period of time followed by a lump sum death benefit? A.Family Income rider B.Survivorship Life policy C.Joint Life policy D.Modified Life policy - correct answers.A Which of the following statements is CORRECT about Group Life conversion privileges? A.Under the COBRA law, a departing employee may elect to remain a member of the Group Life plan for a limited period of time. B.Death during the conversion period is covered even if the departing employee chose not to convert the policy.
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