Idaho Life Producer Exam questions with answers

Idaho Life Producer Exam questions with
|\ |\ |\ |\ |\ |\




answers

What does life insurance protect against? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\



ANSWERS ✔✔Dying too soon. |\ |\ |\




What happens to the death benefit with a Variable
|\ |\ |\ |\ |\ |\ |\ |\ |\



Universal Life Policy? - CORRECT ANSWERS ✔✔It may
|\ |\ |\ |\ |\ |\ |\ |\



increase/decrease within limits. |\ |\




Who sells insurance to a client and owes a fiduciary duty
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\



to an insurance company? - CORRECT ANSWERS ✔✔The
|\ |\ |\ |\ |\ |\ |\ |\



Agent/Producer


What does a "Family Policy" provide? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\



ANSWERS ✔✔Different coverage on different family
|\ |\ |\ |\ |\ |\



members.


In order to qualify for AD&D coverage, the accident must
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



directly cause death within how many days? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\



ANSWERS ✔✔90 days |\ |\

, What is the time period called before an employee is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



eligible for group Disability Income or Health Insurance? -
|\ |\ |\ |\ |\ |\ |\ |\ |\



CORRECT ANSWERS ✔✔Probationary Period |\ |\ |\




Is a death benefit provided in a retirement plan? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



CORRECT ANSWERS ✔✔No, for life insurance policies only. |\ |\ |\ |\ |\ |\ |\




Which policy requires premium payments over the
|\ |\ |\ |\ |\ |\ |\



Insured's lifetime and provides death benefit protection
|\ |\ |\ |\ |\ |\ |\



for the Insured's lifetime? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\



✔✔Modified Life |\




What does a Family Maintenance policy do? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\



ANSWERS ✔✔Pays same death benefit on deceased but |\ |\ |\ |\ |\ |\ |\ |\



extra money for survivor to maintain a level lifestyle no
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



matter how many children. |\ |\ |\




Why are SEPs preferred over Keogh Plans for small
|\ |\ |\ |\ |\ |\ |\ |\ |\



business owners? - CORRECT ANSWERS ✔✔The SEP is |\ |\ |\ |\ |\ |\ |\ |\



less complicated.
|\




What plans measure in investment units rather than
|\ |\ |\ |\ |\ |\ |\ |\



dollars? - CORRECT ANSWERS ✔✔Variable Life or Variable
|\ |\ |\ |\ |\ |\ |\ |\



Universal Life |\