100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
XCEL Chapter 3 2024 UPDATE TEST PRACTICE MOST TESTED TEST PRACTICE COMPREHENSIVE QUESTIONS AND VERIFIED CORRECT ANSWERS GRADE A+ GET IT RIGHT$17.99
Add to cart
XCEL Chapter 3 2024 UPDATE
TEST PRACTICE MOST TESTED TEST PRACTICE
COMPREHENSIVE QUESTIONS AND VERIFIED
CORRECT ANSWERS GRADE A+ GET IT RIGHT
Life insurance immediately creates an estate upon the death of
an insured, which of the following policies is characterized by a
guaranteed minimum death benefit - (correct answer)
Credit Life insurance
The investment gains from a Universal Life Policy usually go
toward: - (correct answer) The cash value
A Family Income Policy is a combination of - (correct answer)
Whole life and Decreasing Term Insurance
All of these are characteristics of an Adjustable Life policy
EXCEPT: - (correct answer) Face amount can be adjusted
using policy dividends
Which of the following actions is NOT possible with a Universal
life policy - (correct answer) Premiums may be applied as a
credit against income tax
, If X wants to buy $50,000 worth of permanent protection on
his/her spouse and $25,000 worth of 10-year coverage on X
under the same policy, the applicant should purchased -
(correct answer) A whole life policy with other insured rider
All of these statements about Equity Indexed Life insurance are
correct EXCEPT: - (correct answer) Cash value has a
minimum rate of accumulation
F needs life insurance that provides overage for only a limited
amount of time with a death benefit that changed regularly
according to a schedule. What kind of policy is needed? -
(correct answer) Decreasing term policy
Which statement is TRUE regarding Variable Whole Life policy?
- (correct answer) A minimum guaranteed Death benefit is
provided
S is covered by whole life policy. Which insurance product can
cover his children? - (correct answer) Child term rider
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MEGAMINDS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.