TN Life Insurance Exam Review Questions with Answers
1. Term life insurance shall never provide:
a. death protection
b. low premiums
c. temporary protection
d. a living benefit: d. a living benefit
2. The premium paid
on whole life would be at the age 25 than
age 75:
a. more
b. less
c. same
d. twice the rate: c. same
3. If the insured lives to age 100 on a whole life coverage,
the cash value would be the face amount:
a. less than
b. equal to
c. more than
d. double: b. equal to
4. The premium on limited payment whole life vs continuous
pay whole life would be:
a. less
b. same
c. more
d. identical: c. more
5. The cash value on limited payment whole life vs. continuous pay
whole life would be:
a. less
,b. same
,c. more
d. exactly equal: c. more
6. This type of life insurance always has a level premium:
a. term
b. whole
c. variable
d. annuity: b. whole
7. How much of the group life of $75,000 would be taxable to the
beneficiary:
a. $25,000
b. $50,000
c. $75,000
d. none: d. none
8. Adjustable life you may change all except:
a. raise the face amount
b. lower the face amount
c. raise the premium
d. lower the premium: a. raise the face amount
9. A permanent life policy allows policyholders to tie accumulation
values to a stock market index. (i.e., S&P 500):
a. variable life
b. indexed life
c. term life
d. variable universal life: b. indexed life
10. Third party ownership (not the owner) policy is owned by:
a. co-workers
b. insured is owner
c. corporation or spouse
, d. owned by policyholders: c. corporation or spouse
1. Term life insurance shall never provide:
a. death protection
b. low premiums
c. temporary protection
d. a living benefit: d. a living benefit
2. The premium paid
on whole life would be at the age 25 than
age 75:
a. more
b. less
c. same
d. twice the rate: c. same
3. If the insured lives to age 100 on a whole life coverage,
the cash value would be the face amount:
a. less than
b. equal to
c. more than
d. double: b. equal to
4. The premium on limited payment whole life vs continuous
pay whole life would be:
a. less
b. same
c. more
d. identical: c. more
5. The cash value on limited payment whole life vs. continuous pay
whole life would be:
a. less
,b. same
,c. more
d. exactly equal: c. more
6. This type of life insurance always has a level premium:
a. term
b. whole
c. variable
d. annuity: b. whole
7. How much of the group life of $75,000 would be taxable to the
beneficiary:
a. $25,000
b. $50,000
c. $75,000
d. none: d. none
8. Adjustable life you may change all except:
a. raise the face amount
b. lower the face amount
c. raise the premium
d. lower the premium: a. raise the face amount
9. A permanent life policy allows policyholders to tie accumulation
values to a stock market index. (i.e., S&P 500):
a. variable life
b. indexed life
c. term life
d. variable universal life: b. indexed life
10. Third party ownership (not the owner) policy is owned by:
a. co-workers
b. insured is owner
c. corporation or spouse
, d. owned by policyholders: c. corporation or spouse
