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IC MOCK EXAM 1 & 2 LATEST 2023 GRADED A

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IC MOCK EXAM 1 & 2 LATEST 2023 GRADED A - Answer<>Life insurance is c a. Only available to a specific group b. A speculative risk c. A cooperative risk-sharing plan d. Paid-up insurance (reduced insurance) d - Answer<>The fundamental advantage of the use of life insurance as a means of meeting economic losses is that through life insurance these losses are a. Reduced for the group as a whole through the multiplier effect b. Deferred for a spec...

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  •  • 19 pages • 
  • by aldardeldard • 
  • uploaded  18-02-2023
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IIAP MOCK EXAM 2023 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION

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A single premium policy means a policy a. requiring only a single premium each year b. under which only one premium payment is required c. only available to single individuals d. on which no more than one premium can be paid in advance *Single premium policy only requires one premium payment(lump sum). - Answer<>b A fixed amount added to the premium of a premium given policy regardless of policy size is known as a. policy fee b. policy reserve c. policy values d. extra ...

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  •  • 21 pages • 
  • by aldardeldard • 
  • uploaded  18-02-2023
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INSURANCE COMMISSION TRADITIONAL LIFE MOCK EXAM 1 LATEST 2023 WITH COMPLETE SOLUTION

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Insurance protection will be limited to a specified period - Answer<>Both endowment and term life policies provide that To convey to the company the desire of the applicant to obtain insurance - Answer<>Indicate which of the following is not a function of an application for life insurance policy. Absolute assignee - Answer<>A father has his present life insurance payable to his estate and because he has now retired he wants to pass the policy on to his son who will assume...

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  •  • 4 pages • 
  • by aldardeldard • 
  • uploaded  18-02-2023
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