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PEARSON VUE LIFE INSURANCE PRACTICE FINAL EXAM LATEST QUESTIONS AND ANSWERS 2023 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.$12.49
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PEARSON VUE LIFE INSURANCE PRACTICE FINAL EXAM LATEST QUESTIONS AND ANSWERS 2023 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.
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PEARSON VUE LIFE INSURANCE PRACTICE
Institution
PEARSON VUE LIFE INSURANCE PRACTICE
PEARSON VUE LIFE INSURANCE PRACTICE FINAL
EXAM LATEST QUESTIONS AND ANSWERS 2023
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 be...
PEARSON VUE LIFE INSURANCE PRACTICE FINAL
EXAM LATEST QUESTIONS AND ANSWERS 2023
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 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 - ANSWER-D.annuity
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 MIB 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. - ANSWER-B.The insured's signed statement
of continued good health
An employer 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 - ANSWER-B.Group
, A producer takes applications 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 which of the following factors?
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 - ANSWER-A.Family Income rider
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.
C.A departing employee must individually pay the premium if the employee elects to
be covered during the conversion period.
D.If a departing employee elects to convert a life insurance policy, the insurer must
offer Term insurance as one of the choices. - ANSWER-B.Death during the
conversion period is covered even if the departing employee chose not to convert
the policy.
Which of the following policies is an interest-sensitive form of permanent protection?
A.Universal Life
B.Limited-Pay Life
C.Graded Premium Whole Life
D.Modified Whole Life - ANSWER-A.Universal Life
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