EXAM 1: PRN1409 / PRN 1409
(LATEST 2026 UPDATE) CLIENT-
CENTERED CARE III REVIEW |
QUESTIONS AND VERIFIED
ANSWERS | 100% CORRECT |
GRADE A+ RASMUSSEN
Which of the following is incorrect regarding $100,000 20 year level term policy -
answer-At the end of 20 years, the policy's cash value will equal $100,000.
What is the definition of a unilateral contract? - answer-One-sided: only one party
makes an enforceable promise
The main difference between immediate and deferred annuities is - answer-When the
income payments begin
A policy owner who is also the insured wants to name her husband as the beneficiary of
her life policy. She also wishes to retain all of the rights of ownership. The policy owner
should have her husband named as the. - answer-Revocable beneficiary
What is the number of credits required for fully insured status for Social Security
disability benefits - answer-40
An insured has a life insurance policy that requires him to only pay premiums for a
specified number of years until the policy is paid up. What kind of policy is it? - answer-
Limited Pay Life
Which policy component decreases in decreasing term insurance? - answer-Face
amount
, All of the following statements concerning an employer, sponsored non-qualified
retirement plan are true except - answer-The employer can receive a current tax
deduction for any contributions made to the plan
Insurance is the transfer of - answer-risk
Which of the following is called a second to die policy - answer-survivorship life
Which of the following components must the life insurance policy have to allow policy
loans? - answer-cash value
A 403b plan, commonly referred to as TSA, is available to be used by - answer-Teachers
and not for profit organizations
The insured had his wife named as the beneficiary of his life policy. To ensure that his
wife had income for life after the insureds death, he chose the life income settlement
option. The amount of payments will be determined by taking into account all of the
following, except. - answer-Age at death
Which of the following is true of a qualified plan - answer-It has a tax benefit for both
employer and employee.
A producer must do all of the following when delivering a new policy to the insured
except - answer-Disclose commissions earned from the sale of the policy.
Under which non-forfeiture option does the company pay the surrender value and have
no further obligations to the policy owner? - answer-Cash surrender
The president of a company is starting an annuity and decides that his corporation will
be the annuitant. Which of the following statements is true? - answer-The annuitant
must be a natural person.
(LATEST 2026 UPDATE) CLIENT-
CENTERED CARE III REVIEW |
QUESTIONS AND VERIFIED
ANSWERS | 100% CORRECT |
GRADE A+ RASMUSSEN
Which of the following is incorrect regarding $100,000 20 year level term policy -
answer-At the end of 20 years, the policy's cash value will equal $100,000.
What is the definition of a unilateral contract? - answer-One-sided: only one party
makes an enforceable promise
The main difference between immediate and deferred annuities is - answer-When the
income payments begin
A policy owner who is also the insured wants to name her husband as the beneficiary of
her life policy. She also wishes to retain all of the rights of ownership. The policy owner
should have her husband named as the. - answer-Revocable beneficiary
What is the number of credits required for fully insured status for Social Security
disability benefits - answer-40
An insured has a life insurance policy that requires him to only pay premiums for a
specified number of years until the policy is paid up. What kind of policy is it? - answer-
Limited Pay Life
Which policy component decreases in decreasing term insurance? - answer-Face
amount
, All of the following statements concerning an employer, sponsored non-qualified
retirement plan are true except - answer-The employer can receive a current tax
deduction for any contributions made to the plan
Insurance is the transfer of - answer-risk
Which of the following is called a second to die policy - answer-survivorship life
Which of the following components must the life insurance policy have to allow policy
loans? - answer-cash value
A 403b plan, commonly referred to as TSA, is available to be used by - answer-Teachers
and not for profit organizations
The insured had his wife named as the beneficiary of his life policy. To ensure that his
wife had income for life after the insureds death, he chose the life income settlement
option. The amount of payments will be determined by taking into account all of the
following, except. - answer-Age at death
Which of the following is true of a qualified plan - answer-It has a tax benefit for both
employer and employee.
A producer must do all of the following when delivering a new policy to the insured
except - answer-Disclose commissions earned from the sale of the policy.
Under which non-forfeiture option does the company pay the surrender value and have
no further obligations to the policy owner? - answer-Cash surrender
The president of a company is starting an annuity and decides that his corporation will
be the annuitant. Which of the following statements is true? - answer-The annuitant
must be a natural person.
