Life Insurance Final EXAM FOR REAL ESTATE MCQS SUMMARY SOLICITORS ACCOUNTS
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Module
NURS 6521
Institution
NURS 6521
Life Insurance Final EXAM FOR REAL ESTATE MCQS SUMMARY SOLICITORS ACCOUNTS
Return of premium
Foreign or alien
Yes, the interest can be paid annually, or added to the loan.
Needs
A 41 year old lawyer who wants a policy to pay his mortgage if he dies (decreasing term life generally is used as ...
Life Insurance Final EXAM FOR REAL ESTATE
MCQS SUMMARY SOLICITORS ACCOUNTS
1). Return of premium
Ans: The life insurance rider that pays the face amount plus the total premiums paid
into the policy is known as:
2). Foreign or alien
Ans: What kind of company can the Commissioner file a complaint to enjoin and
restrain from continuing violations of the insurance regulations of Colorado?
3). Yes, the interest can be paid annually, or added to the loan.
Ans: Does a loan on the cash value of a life insurance policy accrue interest, and if so,
how is the interest handled?
4). Needs
Ans: What approach calculates the amount of money a family needs immediately upon
the death of the insured to pay for their expenses and basic necessities?
5). A 41 year old lawyer who wants a policy to pay his mortgage if he dies (decreasing term life
generally is used as mortgage insurance)
Ans: A decreasing term life policy would be the most appropriate for:
6). 30 days
Ans: A producer or business entity shall report to the Commissioner any administrative
action taken against the producer within:
7). Assignment
Ans: Richard is thinking about transferring some of the ownership rights of his policy to
his brother Randy. What term is used for this type of transfer?
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, 8). Term policy
Ans: Jeff has limited financial resources, but finds himself in a position where he needs
a good deal of protection. A __________would probably best suit his needs at this time.
9). November 7
Ans: On November 5, Zoe fills out an application for a life policy. On November 6, the
agent accepts the premium for the policy. The policy is delivered on November 7. Which
date does the Free Look period start?
10). 24 hours
Ans: Insurance producers must complete how many hours of continuing education
each licensing period?
11). Risk classification
Ans: Jacob, James and Jonathan are triplets, and all applied for the same type of
insurance coverage at the same time. For James and Jonathan the rates were the same.
Jacob's rate was quite a bit higher. What is the most likely reason for this difference?
12). Variable annuity
Ans: If the cash values of an annuity are invested in securities, it is a:
13). Defamation
Ans: If an agent were to publish literature that is false or maliciously critical of another
insurer calculated to injure a person engaged in the business of insurance, the agent
would be committing:
14). Other agents
Ans: An agent has a fiduciary responsibility to all the following, EXCEPT:
15). Cash surrender
Ans: Alex's life policy lapsed, which Nonforfeiture option would the insurer send him
the value of the policy?
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