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Laura added a children's rider to her life insurance policy. What type of coverage was added? - ANSWER Level term With life insurance, the needs approach is used primarily in determining - ANSWER How much life insurance a client should apply for A(n) __________ is a licensee who charges a fee for contracted insurance advisory services. - ANSWER Consultant

Which of these do NOT constitute policy delivery? - ANSWER Policy issued with a rating Which of these types of life insurance allows the policyowner to have level premiums and to also choose from a selection of investment options? - ANSWER Variable Life J, an Accidental Death and Dismemberment (AD&D) policy holder, dies after injuries sustained in an accident. J's age as stated on the application five years ago was found to be understated by ten years. Which of the following actions

Fraud - ANSWER Misrepresentation of material fact, made knowingly with intent to be deceptive? Property/Casualty: Time of loss or claim occurs Life Insurance: Only at time of application when policy is purchased - ANSWER Insurable Interest must exist when for property/casualty and life insurance? The group must not have formed for the purpose of purchasing life insurance - ANSWER In order for a group to be eligible for group life insurance what must the group not have done?

If, at the time of an insured's death, the insurance company discovers that the insured's age was misstated on the application for life insurance, the company will most likely - ANSWER pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age The provision in a health insurance policy that suspends premiums being paid to the insurer while the insured is disabled is called the: - ANSWER Waiver of

An annuity promises that, if the annuitant dies before receiving payments equal to the correct value, the payments will be continued to a beneficiary until an amount equal to the contract value has been paid. This type of annuity is called An installment Refund annuity A Straight Life annuity A Cash Refund annuity A Joint Life annuity - ANSWER An installment Refund annuity

Policy holders Insureds - ANSWER Shareholders Which of the following financial products creates an instant estate, no matter when the date of death? Mutual funds Life insurance Certificate of deposit Deferred annuity - ANSWER Life insurance

When the disclosure of an insured's nonpublic information is involved, what is the insurer obligated to do? - ANSWER Give notice, explain, and allow opting out Under the Telemarketing Sales Rule, telemarketing calls may NOT be received after - ANSWER 9:00 PM A health plan offered by private insurance companies is - ANSWER Medicare Supplement

Sally is considering her Medicare options. She understands that to enroll in Medicare Part B, she will have to pay a monthly premium. Since she is healthy, she is considering delaying her enrollment until later. Will she be able to enroll at a later date? 1.Yes, she can enroll at anytime in the future 2.Yes, however; she would have a permanent premium penalty when she does enroll 3.No, this is a take or leave it situation

Refers to the location, or jurisdiction, where an insurer is formed or incorporated. - ANSWER Domicile Which of the following is an insurance company that is organized under the laws of another state within the United States? - ANSWER Foreign

Which of these statements concerning an individual Disability Income policy is TRUE? - ANSWER Normally includes an Elimination period Which health policy clause stipulates that an insurance company must attach a copy of the application to the policy to ensure that it is part of the contract? - ANSWER Entire contract