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Life Insurance Study Exam- Georgia Practice Questions and Answers (100% Pass)
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Life Insurance Study Exam- Georgia Practice Questions and Answers (100% Pass)
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©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AMLife Insurance Study Exam- Georgia Practice
Questions and Answers (100% Pass)
An insurance producer selling a Variable Annuity whose cash value depends on the
performance of an underlying investment account must be registered with: - ✔️✔️The
Financial Industry Regulatory Authority (FINRA, formerly the NASD)
A life insurance policy whose cash value will fluctuate depending upon the performance
of a separate account is: - ✔️✔️Variable Life
John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The cash
value will equal the face amount of the policy when he reaches the age of: - ✔️✔️100
Which of the following types of insurance policies would provide the greatest amount of
protection for a temporary period during which an insured will have limited financial
resources? - ✔️✔️Term
Which of the following statements about a Renewable Term policy is true? - ✔️✔️It is
renewable at the option of the insured
An Annuity is designed to provide which of the following financial features?
I. The liquidation of principal and interest
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, ©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
II. Favorable tax treatment
III. The creation of an estate - ✔️✔️I and II
A 45-year old customer who is seeking to supplement his retirement income at age 65
would not buy a: - ✔️✔️Immediate Annuity
Which of the following is an example of a Limited-Pay Life policy? - ✔️✔️Life Paid-Up at
Age 65
You have a client that is a real estate agent. Which of the following types of permanent
protection is best for this type of client? - ✔️✔️Adjustable life
Which of the following individual policy conversions is usually permitted without any
evidence of insurability? - ✔️✔️Conversion from a Term policy to a Whole Life policy
At age 30, Tom Morris wishes to purchase a Whole Life policy. His producer explains
that he can pay for the policy in several ways. One method is called 20-Pay Life, and
another, Straight Life. Tom wishes to know which plan will accumulate cash value at a
faster rate in the early years of the policy. Which of the following would be the
producer's most appropriate response? - ✔️✔️"20-Pay Life will accumulate cash value
faster."
Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover
a 20-year-amortized $50,000 business-improvement loan. Which of the following plans
would adequately protect Ms. Timms at the minimum premium outlay? - ✔️✔️A $50,000
Decreasing Term policy for 20 years
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