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Basics of Life Insurance Exam Practice Questions and Answers | 100% Pass
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Basics of Life Insurance Exam Practice Questions and Answers | 100% Pass The annual gross premium of a life insurance policy is defined as - Answer️️ -net premium plus expense Jordan wants to set aside money so that his grandchildren's college tuition will be paid. While he is only 58, he ...

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  • September 1, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • basics of life insurance exam practice questions a

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  • Life insurance
  • Life insurance

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SophiaBennett

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©SOPHIABENNETT
2024/2025 ACADEMIC YEAR




©SOPHIABENNETT 9/1/24 2024/2025

, Basics of Life Insurance Exam Practice
Questions and Answers | 100% Pass


The annual gross premium of a life insurance policy is defined as - Answer✔️✔️-net

premium plus expense

Jordan wants to set aside money so that his grandchildren's college tuition will be paid.

While he is only 58, he is

concerned that if he dies too young, he will not have had enough years to accumulate

assets. What is Jordan's reason

for purchasing life insurance? - Answer✔️✔️-Estate creation

Alaina, age 39, is married and has a small son. She is employed as a sales manager by

R.J. Links, a sole

proprietorship that owes much of its success to Alaina's efforts. She recently borrowed

$50,000 from her brother-in-law,

Pete, to finance a vacation home. Which of the following individuals does NOT have an

insurable interest in Alaina's

life? - Answer✔️✔️-One of her customers

Which of the following statements pertaining to life insurance premiums is NOT correct?

- Answer✔️✔️-The interest factor is a premium charge based on assumed lost earnings

after

claims


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