TN Life Insurance Exam Review Questions 100 Solved
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Course
NU1426
Institution
NU1426
TN Life Insurance Exam Review (Questions) 100% Solved
Term life insurance shall never provide:
a. death protection
b. low premiums
c. temporary protection
d. a living benefit
The premium paid on whole life would be ___________ at the age 25 than age 75:
a. more
b. less
c. same
d. tw...
TN Life Insurance Exam Review (Questions)
100% Solved
1). Term life insurance shall never provide:
a. death protection
b. low premiums
c. temporary protection
d. a living benefit
Ans: d. a living benefit
2). The premium paid on whole life would be ___________ at the age 25 than age 75:
a. more
b. less
c. same
d. twice the rate
Ans: c. same
3). If the insured lives to age 100 on a whole life coverage, the cash value would be
___________ the face amount:
a. less than
b. equal to
c. more than
d. double
Ans: b. equal to
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, 4). The premium on limited payment whole life vs continuous pay whole life would be:
a. less
b. same
c. more
d. identical
Ans: c. more
5). The cash value on limited payment whole life vs. continuous pay whole life would be:
a. less
b. same
c. more
d. exactly equal
Ans: c. more
6). This type of life insurance always has a level premium:
a. term
b. whole
c. variable
d. annuity
Ans: b. whole
7). How much of the group life of $75,000 would be taxable to the beneficiary:
a. $25,000
b. $50,000
c. $75,000
d. none
Ans: d. none
8). Adjustable life you may change all except:
a. raise the face amount
b. lower the face amount
c. raise the premium
d. lower the premium
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, Ans: a. raise the face amount
9). A permanent life policy allows policyholders to tie accumulation values to a stock market
index. (i.e., s&p 500):
a. variable life
b. indexed life
c. term life
d. variable universal life
Ans: b. indexed life
10). Third party ownership (not the owner) policy is owned by:
a. co-workers
b. insured is owner
c. corporation or spouse
d. owned by policyholders
Ans: c. corporation or spouse
11). On a joint life last survivorship policy who would collect:
a. beneficiaries of the first to die
b. beneficiaries of the second to die
c. 50% paid to each of the above
d. beneficiaries of either of the first to die
Ans: b. beneficiaries of the second to die
12). This provision would waive the breadwinner's premium on their policy should he/she
become disabled for 90 days:
a. waiver of premium
b. juvenile
c. payor benefit
d. disability rider
Ans: a. waiver of premium
13). This provision would waive the child's premium on their policy should the parent die or
become disabled:
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, a. waiver of premium
b. juvenile
c. payor benefit
d. disability rider
Ans: c. payor benefit
14). This life policy, based on the money purchase concept, allows the insured to adjust the
policy face amount, premium and length of protection:
a. adjustable life
b. variable life
c. universal life
d. changeable life
Ans: a. adjustable life
15). This life product could be defined as a one-year renewable term insurance and a cash
account realizing current interest rates:
a. adjustable life
b. universal life
c. variable life
d. variable universal life
Ans: b. universal life
16). This product was the first to take advantage of the equity markets as a hedge against
inflation:
a. adjustable life
b. universal life
c. variable life
d. limited pay
Ans: c. variable life
17). This rider allows the insured to purchase additional amounts of insurance between ages
25 and 40 without proof of insurability:
a. return of premium
b. guaranteed insurability
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