GA LIFE INSURANCE EXAM WITH VERIFIED
QUESTIONS AND ANSWERS|| GUARANTEED
PASS|| ALREADY GRADED A+|| LATEST
UPDATE 2026
K owns a Whole Life policy. If K wants an increasing Death Benefit to protect
against inflation, which Dividend Option should she chose?
A. Paid-Up Additional Insurance
B. Cash Option
C. Accumulate with Interest
D. Reduced Premiums - ANSWER-A. paid up additional insurance
All of these are characteristics of an Adjustable Life policy, EXCEPT:
A. adjustable premium payment period
B. adjustable premiums
C. combination of term and whole life insurance
D. face amount can be adjusted using policy dividends - ANSWER-D. face
amount can be adjusted.
The __________ is authorized to assign a Life Insurance policy as collateral for
a loan.
A. lender
B. beneficiary
,C. policyowner
D. insured - ANSWER-C. policowner
N is covered by a Term Life policy and does not make the required premium
payment which was due August 1. N dies September 15. What action will the
insurer take?
A. Claim will be decided by an arbitrator
B. Claim will be partially paid
C. Claim will be denied
D. Claim will be paid in full - ANSWER-C. claim will be denied
Which statement is correct regarding the premium payment schedule for whole
life policies?
A. Premiums are payable for a set period/ coverage expires at that point
B. Premiums are payable throughout the insured's lifetime/ coverage lasts until
death of the insured
C. A single premium is paid at time of application/ coverage lasts until
retirement
D. Premiums are payable until age 65/ coverage lasts a lifetime - ANSWER-B.
premiums are payable throughout the insured's lifetime/ coverage lasts until
death of insured
F needs life insurance that provides coverage for only a limited amount of time
with a death benefit that changes regularly according to a schedule. What kind
of policy is needed?
A. Level term policy
B. Limited-pay policy
C. Whole life policy
D. Decreasing term policy - ANSWER-D. decreasing term policy
,The entity whose sole purpose is sharing medical data among its member
companies is called the
A. State Underwriting Association
B. State government
C. Medical Information Bureau (MIB)
D. National Association of Insurance Commissioners (NAIC) - ANSWER-C.
MIB
Which of these actions is taken when a policyowner uses a Life Insurance
policy as collateral for a bank loan?
A. Collateral assignment
B. Beneficiary change
C. Irrevocable assignment
D. Revocable assignment - ANSWER-A. collateral assignment
A primary beneficiary has died before the insured in a life insurance policy. A
contingent beneficiary is also named in the policy. Which of the following will
occur when the insured dies?
A. Proceeds will go to the insured's estate
B. Proceeds will go to the contingent beneficiary
C. Proceeds will go to the primary beneficiary's estate
D. Probate will decide who receives proceeds - ANSWER-B. proceeds go to
contingent beneficiary
S owns a life insurance policy with cash values that fluctuate according to the
underlying investment performance of common stocks. Which of these policies
does S own?
A. Endowment
B. Variable Whole Life
C. Variable Term Life
, D. Joint Life - ANSWER-B. variable whole life
J is 35-years old and looking to purchase a whole life insurance policy. Which
of the following types of policies will provide the most rapid growth of cash
value?
A. Life Paid-up at Age 70
B. Straight Life
C. 20-pay Life
D. Increasing Term to age 65 - ANSWER-C. 20 pay life
What advantage does the renewability feature give to a term policy?
A. The insured may apply for this policy with little or no underwriting
B. The insured may extend the coverage period
C. The insured may extend the coverage period at no additional cost
D. The insured may borrow against the cash value - ANSWER-B. may extend
the coverage period
Which of the following is an example of a nonforfeiture option?
A. Guaranteed insurability option
B. Reduced Paid-Up option
C. Inflation option
D. Conversion option - ANSWER-B. reduced paid up option
Which of these types of life insurance allows the policyowner to have level
premiums and to also choose from a selection of investment options?
A. Universal Life
B. Modified Whole Life
C. Variable Life
D. Adjustable Life - ANSWER-C. variable life
QUESTIONS AND ANSWERS|| GUARANTEED
PASS|| ALREADY GRADED A+|| LATEST
UPDATE 2026
K owns a Whole Life policy. If K wants an increasing Death Benefit to protect
against inflation, which Dividend Option should she chose?
A. Paid-Up Additional Insurance
B. Cash Option
C. Accumulate with Interest
D. Reduced Premiums - ANSWER-A. paid up additional insurance
All of these are characteristics of an Adjustable Life policy, EXCEPT:
A. adjustable premium payment period
B. adjustable premiums
C. combination of term and whole life insurance
D. face amount can be adjusted using policy dividends - ANSWER-D. face
amount can be adjusted.
The __________ is authorized to assign a Life Insurance policy as collateral for
a loan.
A. lender
B. beneficiary
,C. policyowner
D. insured - ANSWER-C. policowner
N is covered by a Term Life policy and does not make the required premium
payment which was due August 1. N dies September 15. What action will the
insurer take?
A. Claim will be decided by an arbitrator
B. Claim will be partially paid
C. Claim will be denied
D. Claim will be paid in full - ANSWER-C. claim will be denied
Which statement is correct regarding the premium payment schedule for whole
life policies?
A. Premiums are payable for a set period/ coverage expires at that point
B. Premiums are payable throughout the insured's lifetime/ coverage lasts until
death of the insured
C. A single premium is paid at time of application/ coverage lasts until
retirement
D. Premiums are payable until age 65/ coverage lasts a lifetime - ANSWER-B.
premiums are payable throughout the insured's lifetime/ coverage lasts until
death of insured
F needs life insurance that provides coverage for only a limited amount of time
with a death benefit that changes regularly according to a schedule. What kind
of policy is needed?
A. Level term policy
B. Limited-pay policy
C. Whole life policy
D. Decreasing term policy - ANSWER-D. decreasing term policy
,The entity whose sole purpose is sharing medical data among its member
companies is called the
A. State Underwriting Association
B. State government
C. Medical Information Bureau (MIB)
D. National Association of Insurance Commissioners (NAIC) - ANSWER-C.
MIB
Which of these actions is taken when a policyowner uses a Life Insurance
policy as collateral for a bank loan?
A. Collateral assignment
B. Beneficiary change
C. Irrevocable assignment
D. Revocable assignment - ANSWER-A. collateral assignment
A primary beneficiary has died before the insured in a life insurance policy. A
contingent beneficiary is also named in the policy. Which of the following will
occur when the insured dies?
A. Proceeds will go to the insured's estate
B. Proceeds will go to the contingent beneficiary
C. Proceeds will go to the primary beneficiary's estate
D. Probate will decide who receives proceeds - ANSWER-B. proceeds go to
contingent beneficiary
S owns a life insurance policy with cash values that fluctuate according to the
underlying investment performance of common stocks. Which of these policies
does S own?
A. Endowment
B. Variable Whole Life
C. Variable Term Life
, D. Joint Life - ANSWER-B. variable whole life
J is 35-years old and looking to purchase a whole life insurance policy. Which
of the following types of policies will provide the most rapid growth of cash
value?
A. Life Paid-up at Age 70
B. Straight Life
C. 20-pay Life
D. Increasing Term to age 65 - ANSWER-C. 20 pay life
What advantage does the renewability feature give to a term policy?
A. The insured may apply for this policy with little or no underwriting
B. The insured may extend the coverage period
C. The insured may extend the coverage period at no additional cost
D. The insured may borrow against the cash value - ANSWER-B. may extend
the coverage period
Which of the following is an example of a nonforfeiture option?
A. Guaranteed insurability option
B. Reduced Paid-Up option
C. Inflation option
D. Conversion option - ANSWER-B. reduced paid up option
Which of these types of life insurance allows the policyowner to have level
premiums and to also choose from a selection of investment options?
A. Universal Life
B. Modified Whole Life
C. Variable Life
D. Adjustable Life - ANSWER-C. variable life
