Pearson Vue - Life Peovisuons,
Riders, opt options, and Exclusions
Review Exam Questions & Answers
(Grade A+)
Which of these Nonforfeiture Options continue a build-up of cash
value? -
correct answer ✅Reduced Paid-Up
Which of these provisions required proof of insurability after a
policy has lapsed? -
correct answer ✅Reinstatement
A life insurance policyowner would like to take out a policy loan
against the cash value and his whole life policy. The interest rate
applied to this loan may vary overtime. This is referred to as a(n)
______ rate loan. -
correct answer ✅Variable
A long-term care rider in a life insurance policy pays a daily benefit
in the event of which of the following? -
correct answer ✅Inability of the insured to perform more than 2
Activities of Daily Living (ADL's)
,Pearson Vue - Life Peovisuons,
Riders, opt options, and Exclusions
Review Exam Questions & Answers
(Grade A+)
A policyowner may generate taxable income from which of the
following Dividend Options? -
correct answer ✅Accumulation at interest
A whole life insurance policyowner does NOT have the right to -
correct answer ✅change the grace period
Which of these statements about a Guaranteed Insurability Option
rider is NOT TRUE? -
correct answer ✅Evidence of insurability is required when the
option is exercised
All of these statements about the Waiver of Premium provision are
correct EXCEPT -
correct answer ✅Insured must be eligible for Social Security
disability for claim to be accepted
Which provision prevents and insurer from changing the terms of
the contract with the policyowner by referring to documents not
found within the policy itself -
correct answer ✅entire contract provision
, Pearson Vue - Life Peovisuons,
Riders, opt options, and Exclusions
Review Exam Questions & Answers
(Grade A+)
Which type of life policy contains a monthly mortality charge as
well as self-directed investment choices? -
correct answer ✅Variable Universal Life
Whose life is covered on a life insurance policy that contains a
payor benefit clause? -
correct answer ✅child
An insurer may normally delay the payment of a cash value loan or
surrender value for up to -
correct answer ✅6 months
A nonforfeiture clause gives the policyowner -
correct answer ✅guaranteed values even if the policy has lapsed
A policy loan is made possible by which of these life insurance
policy features? -
correct answer ✅Cash value provision
Riders, opt options, and Exclusions
Review Exam Questions & Answers
(Grade A+)
Which of these Nonforfeiture Options continue a build-up of cash
value? -
correct answer ✅Reduced Paid-Up
Which of these provisions required proof of insurability after a
policy has lapsed? -
correct answer ✅Reinstatement
A life insurance policyowner would like to take out a policy loan
against the cash value and his whole life policy. The interest rate
applied to this loan may vary overtime. This is referred to as a(n)
______ rate loan. -
correct answer ✅Variable
A long-term care rider in a life insurance policy pays a daily benefit
in the event of which of the following? -
correct answer ✅Inability of the insured to perform more than 2
Activities of Daily Living (ADL's)
,Pearson Vue - Life Peovisuons,
Riders, opt options, and Exclusions
Review Exam Questions & Answers
(Grade A+)
A policyowner may generate taxable income from which of the
following Dividend Options? -
correct answer ✅Accumulation at interest
A whole life insurance policyowner does NOT have the right to -
correct answer ✅change the grace period
Which of these statements about a Guaranteed Insurability Option
rider is NOT TRUE? -
correct answer ✅Evidence of insurability is required when the
option is exercised
All of these statements about the Waiver of Premium provision are
correct EXCEPT -
correct answer ✅Insured must be eligible for Social Security
disability for claim to be accepted
Which provision prevents and insurer from changing the terms of
the contract with the policyowner by referring to documents not
found within the policy itself -
correct answer ✅entire contract provision
, Pearson Vue - Life Peovisuons,
Riders, opt options, and Exclusions
Review Exam Questions & Answers
(Grade A+)
Which type of life policy contains a monthly mortality charge as
well as self-directed investment choices? -
correct answer ✅Variable Universal Life
Whose life is covered on a life insurance policy that contains a
payor benefit clause? -
correct answer ✅child
An insurer may normally delay the payment of a cash value loan or
surrender value for up to -
correct answer ✅6 months
A nonforfeiture clause gives the policyowner -
correct answer ✅guaranteed values even if the policy has lapsed
A policy loan is made possible by which of these life insurance
policy features? -
correct answer ✅Cash value provision
