Exam (elaborations)
Massachusetts Life Insurance Exam| Questions and Answers
Massachusetts Life Insurance Exam| Questions and Answers
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Massachusetts Life Insurance Exam|Questions and Answers
An agent's authority to bind an insurer to an insurance contract may be
granted in the - -agent's contract and the insurance company's appointment
- Which of these is an accurate statement regarding the fixed period
settlement option on a life insurance policy? - -A portion of the payments
paid to the beneficiary comes from interest calculated on the proceeds of the
policy
- The payment of the first premium, the promise to pay a covered loss, and
the agreement to abide by policy conditions are all examples of - -
Consideration
- An insurance company may NOT use a policy form unless it has been
approved by the Superintendent for at least _____ days. - -30
- A life insurance producer's underwriting duties may include - -seeking
additional information requested by the insurance company
- A foreign insurer wishing to conduct business in MA must obtain - -
certificate of authority
- A life insurance policy that includes a return of premium rider will pay the
beneficiary how much upon the insured's death? - -Total premiums paid +
face amount
- all of these statements correctly describe an aleatory contract EXCEPT - -
Only one party makes any kind of legally enforceable offer
- A life insurance policyowner sells her policy to a third party in a life
settlement. Under this transaction, the policy owner - -receives an amount
less than the policy's death benefit.
-
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