100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Life Insurance Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed R253,34   Add to cart
Quickly navigate to
Preview
  2.  
  3. Life Insurance
  4.  
  5. Life Insurance

Exam (elaborations)

Life Insurance Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
 5 views  0 purchase
  • Course
  • Life Insurance
  • Institution
  • Life Insurance

In a fixed annuity, which of the folllowing is true regarding the guaranteed interest rate on the investment ? -:- the annuitant will recieve the higher of either the guaranteed minimum rate or current rate All of the following are factors that an underwriter coukd use to select and classify...

[Show more]

Preview 4 out of 42  pages

Document information

  • September 6, 2024
  • 42
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life insurance questions 100 correct answers
  • in a fixed annuity which of the folllowing is tru

Written for

  • Life Insurance
  • Life Insurance

Seller

avatar-seller
TestTrackers

Reviews received

Content preview

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



Life Insurance Questions & 100% Correct
Answers- Latest Test | Graded A+ | Passed
In a fixed annuity, which of the folllowing is true regarding the guaranteed interest rate on

the investment ?


✓ -:- the annuitant will recieve the higher of either the guaranteed minimum rate or

current rate




All of the following are factors that an underwriter coukd use to select and classify risk

except ?


✓ -:- national origin




For the purpose of examination by the department, insurers must keep a record of all

financial files for at least...


✓ -:- 5 years




Which of the following is NOT a goal of risk retention ?


✓ -:- to minimize the insured's level of liability in the event of loss




The rider in a whole life policy that allows the company to forgo collecting the premium if

the insured is disabled is called...


1|Page | Grade A+| 2024/2025

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

✓ -:- Waiver of premium




An insured has entered into a viatical settlement but decides that he would like to back out

of the contract. Which of the followingis true ?


✓ -:- the insured has 15 calendar days from the effective date of the contract to recind

it




An applicant wants to buy a life insurance policy in which he can count on recieveing the

same benefits as stated in the contract. Which type should he buy ?


✓ -:- Fixed




Underlying assets for variable annuity contracts must be maintained in what type of

account ?


✓ -:- separate account




At the time of initial licensing, what fee must a viatical settlement provider pay ?


✓ -:- $300




Insurance producers that do not have company appointments are considered a/an...




2|Page | Grade A+| 2024/2025

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

✓ -:- representative of the consumer




If a insurance company makes a statement that it's policies are guaranteed by the existence

of the Insurance Guaranty Association, that would be considered...


✓ -:- an unfair trade practice




Which of the following is NOT typically excluded from life policies ?


✓ -:- death due to plane crash for a fare-paying passenger




Based on Human Life Value Approach, which of the following is NOT used to calculate an

individuals life value ?


✓ -:- predicted needs of the family after the insured's death




When a reduced-paid up nonforfeiture option is chosen, what happens to the face amount

of the policy ?


✓ -:- it is reduced to the amount of what cash value would buy as a single premium




An individual was just caught acting as an exclusive general agent - even though he is not

properly licensed. Assuming that this occured in a single day. What is the maximum penalty

he faces ?



3|Page | Grade A+| 2024/2025

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

✓ -:- a 3rd degree misdemenor and a $1,000 fine




All of the following statements are true regarding installments for a fixed amount

EXCEPT...


✓ -:- the payments will stop when the annuitant dies




Which of the following riders would NOT cause the Death Benefit to increase?


✓ -:- payor benefit rider




All of the following are general requirements of a qualified plan except..


✓ -:- the plan must provide an offset for social security benefits




When an annuity is written, whose life expectancy is taken into account?


✓ -:- annuitant




Which of the following is true of a children's rider added to an insured's permament life

insurance policy ?


✓ -:- if is term coverage that is convertible to permanent insurance at or prior to the

child reaching the maximum coverage age




4|Page | Grade A+| 2024/2025

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

Quick and easy check-out

You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

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 this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller TestTrackers. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for R253,34. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

78252 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 14 years now

Start selling

Recently viewed by you

Exam (elaborations) ·

(0)

MPJE NY Exam With Correct Solutions |Guaranteed Success

R253,34
  • (0)
  Buy now