Exam (elaborations)
MISSISSIPPI LIFE, HEALTH AND SICKNESS INSURANCE TEST QUESTIONS AND ANSWERS
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MISSISSIPPI LIFE, HEALTH AND SICKNESS INSURANCE TEST QUESTIONS AND ANSWERS
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1-98 of 98What is the purpose of requiring licenses for persons who transact insurance?
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Protect the general public
In whole life insurance, which of the following terms describes features such as cash
values and loan provisions?
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Nonforfeiture options
When an insured dies, who has first claim to the death proceeds of the insured's life
insurance policy?
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Primary beneficiary
Which of the following is TRUE regarding a level term life policy written with a
renewable provision?
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At the end of the term, the policy can be renewed without evidence of
insurahility.
Who bears the investment risk in variable life insurance products?
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Policy owner
, An insurer requires an individual applying for life insurance to take an HIV test.
Who must consent to this?
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The applicant
Over several years, a policyowner paid $10,000 in premiums for his insurance policy.
When he suffered a loss, the insurance company paid out $50,000 in benefits. What
characteristic of an insurance contract does this describe?
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Aleatory
Which of the following types of policies allows the policyowner to skip premium
payments, provided that there is enough cash value in the policy to cover the
premium amount?
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Universal Life
Which of the following settlement options does NOT guarantee that the entire
principal will be paid out to the beneficiary?
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