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Life insurance Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. This is a personal use of life insurance known as -:- survivor protection Under what circumstances may a life insurance agent deliver a policy that is dated...

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  • September 6, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • life insurance questions 100 correct answers
  • a producer is helping a married couple determine t

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2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!



Life insurance Questions & 100% Correct
Answers- Latest Test | Graded A+ | Passed
A producer is helping a married couple determine the financial needs of their children in

the event one or both should die prematurely. This is a personal use of life insurance known

as


✓ -:- survivor protection




Under what circumstances may a life insurance agent deliver a policy that is dated up to 3

months before the application was taken?


✓ -:- To avoid an increase in premium rate for the insured




What must happen when an individual policy or annuity has been personally delivered to

the policyowner?


✓ -:- The policyowner must sign a delivery receipt.




What limits the amount that a policyowner may borrow from a whole life insurance policy?


✓ -:- cash value




Which of the following statements is correct about a standard risk classification in the same

age group and with similar lifestyles?


1|Page | Grade A+| 2024/2025

, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

✓ -:- Standard risk is representative of the majority of people




If a beneficiary wants a guarantee that benefits paid from principal and interest would be

paid for a period of 10 years before being exhausted, what settlement option should the

beneficiary select?


✓ -:- fixed period




Which of the following insurance options would be considered a risk-sharing arrangement?


✓ -:- reciprocal




Which of the following provisions in annuity contracts allow the owner to surrender the

annuity if interest rates drop to a specified level?


✓ -:- Bail out




When a beneficiary receives payments consisting of both principal and interest portions,

which parts are taxable as income?


✓ -:- Interest only




Which of the following is NOT true of Section 1035 Policy Exchanges?




2|Page | Grade A+| 2024/2025

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