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6. NV - Life Insurance Practice Final Examination Get it 100% Correct Answers Jason is the insured in a $100,000, 10 year renewable term policy. Soon after taking out the policy, he develops a serious heart condition. Which of the following statement is CORRECT? a. Since the condition manifested after the policy was issued, he will not be able to renew his policy. b. Jason will be able to renew his policy c. It will be necessary for Jason to show evidence of insurability in ord...

Convertibilty - Most are convertible to Whole Life policies regardless of health. Conversions are based on current "attained" age. NOT original age. Conversion may only be to a move expensive policy, such as Whole Life. Term insurance - You can not convert "Term to Term" You can convert "Term to Whole Life" You can never convert to more coverage than you have. " If you want more insurance, you will have to pass a physical exam and pay premiums upon your current "attaine...

Terms in this set (49) Insurable Receipt The reciept given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Representations Statements in the application for insurance that are believed to be true to the best of the applicants knowledge are Provide the annuitant with an interest rate that is lesser of the guaranteed or current rate An annuity is considered fixed when it does all of the following EXCEPT Continuous Premi...

A.A copy of the MIB report B.The insured's signed statement of continued good health C.A copy of the conditional receipt D.A copy of the temporary insurance agreement that covered the period between the application date and the delivery date. - B.The insured's signed statement of continued good health An employer can deduct premium payments as an ordinary business expense for which of the following life coverages? A.Buy and Sell Agreements B.Group C.Key Employee D.Joint Life, if th...

life insurance exam prediction with over 100 questions term life insurance️️temporary protection that lasts only for a specified period of time. if the insured dies during the specified timeframe, the policy pays the death benefit to the beneficiaries. Term policies provide the greatest amount of coverage for the lowest premiums. It is pure death protectionlevel term life insurance️️premiums remain the same thoughout the life of the policyincreasing term policy️️level...

The Commissioner conducts an examination of a domestic insurer and believes that the costs of examination places an unreasonable financial burden on the insurer. Which of the following will happen? a. The federal government will absorb the full cost b. The federal government will absorb part of the cost, and the state government will absorb the rest of the cost c. The costs will be reduced to the amount that the examinee can reasonable pat; the rest will be paid by the federal government ...

PEARSON VUE LIFE INSURANCE PRACTICE EXAM QUESTIONS AND VERIFIED ANSWERS||2025 UPDATE

Life Insurance Practice Exam |76 Answered Questions A+ Scores

Life Insurance Exam – Wisconsin – Questions With Detailed Solutions