Life Insurance Study Exam- Georgia
Study online at https://quizlet.com/_290rws
1. An insurance producer selling a Variable Annuity The Financial Industry
whose cash value depends on the performance of Regulatory Authority (FIN-
an underlying investment account must be registered RA, formerly the NASD)
with:
2. A life insurance policy whose cash value will fluctuate Variable Life
depending upon the performance of a separate ac-
count is:
3. John Livingston owns a 30-Pay Life policy that he pur- 100
chased at the age of 30. The cash value will equal the
face amount of the policy when he reaches the age of:
4. Which of the following types of insurance policies Term
would provide the greatest amount of protection for
a temporary period during which an insured will have
limited financial resources?
5. Which of the following statements about a Renewable It is renewable at the op-
Term policy is true? tion of the insured
6. An Annuity is designed to provide which of the follow- I and II
ing financial features?
I. The liquidation of principal and interest
II. Favorable tax treatment
III. The creation of an estate
7. A 45-year old customer who is seeking to supplement Immediate Annuity
his retirement income at age 65 would not buy a:
8. Which of the following is an example of a Limited-Pay Life Paid-Up at Age 65
Life policy?
, Life Insurance Study Exam- Georgia
Study online at https://quizlet.com/_290rws
9. You have a client that is a real estate agent. Which of Adjustable life
the following types of permanent protection is best
for this type of client?
10. Which of the following individual policy conversions is Conversion from a Term
usually permitted without any evidence of insurabili- policy to a Whole Life pol-
ty? icy
11. At age 30, Tom Morris wishes to purchase a Whole Life "20-Pay Life will accumu-
policy. His producer explains that he can pay for the late cash value faster."
policy in several ways. One method is called 20-Pay
Life, and another, Straight Life. Tom wishes to know
which plan will accumulate cash value at a faster rate
in the early years of the policy. Which of the following
would be the producer's most appropriate response?
12. Sandra Timms, age 27, is advised by her producer to A $50,000 Decreasing
purchase Life insurance to cover a 20-year-amortized Term policy for 20 years
$50,000 business-improvement loan. Which of the fol-
lowing plans would adequately protect Ms. Timms at
the minimum premium outlay?
13. In order to sell variable life insurance you must be The NASD
registered with which of the following?
14. Which of the following contracts requires that a series Annuity
of benefit payments be made at specified intervals?
15. A life insurance policy that covers two parties, but only Survivorship Life
pays when the last party dies is known as:
16. Most Term Life insurance:
Study online at https://quizlet.com/_290rws
1. An insurance producer selling a Variable Annuity The Financial Industry
whose cash value depends on the performance of Regulatory Authority (FIN-
an underlying investment account must be registered RA, formerly the NASD)
with:
2. A life insurance policy whose cash value will fluctuate Variable Life
depending upon the performance of a separate ac-
count is:
3. John Livingston owns a 30-Pay Life policy that he pur- 100
chased at the age of 30. The cash value will equal the
face amount of the policy when he reaches the age of:
4. Which of the following types of insurance policies Term
would provide the greatest amount of protection for
a temporary period during which an insured will have
limited financial resources?
5. Which of the following statements about a Renewable It is renewable at the op-
Term policy is true? tion of the insured
6. An Annuity is designed to provide which of the follow- I and II
ing financial features?
I. The liquidation of principal and interest
II. Favorable tax treatment
III. The creation of an estate
7. A 45-year old customer who is seeking to supplement Immediate Annuity
his retirement income at age 65 would not buy a:
8. Which of the following is an example of a Limited-Pay Life Paid-Up at Age 65
Life policy?
, Life Insurance Study Exam- Georgia
Study online at https://quizlet.com/_290rws
9. You have a client that is a real estate agent. Which of Adjustable life
the following types of permanent protection is best
for this type of client?
10. Which of the following individual policy conversions is Conversion from a Term
usually permitted without any evidence of insurabili- policy to a Whole Life pol-
ty? icy
11. At age 30, Tom Morris wishes to purchase a Whole Life "20-Pay Life will accumu-
policy. His producer explains that he can pay for the late cash value faster."
policy in several ways. One method is called 20-Pay
Life, and another, Straight Life. Tom wishes to know
which plan will accumulate cash value at a faster rate
in the early years of the policy. Which of the following
would be the producer's most appropriate response?
12. Sandra Timms, age 27, is advised by her producer to A $50,000 Decreasing
purchase Life insurance to cover a 20-year-amortized Term policy for 20 years
$50,000 business-improvement loan. Which of the fol-
lowing plans would adequately protect Ms. Timms at
the minimum premium outlay?
13. In order to sell variable life insurance you must be The NASD
registered with which of the following?
14. Which of the following contracts requires that a series Annuity
of benefit payments be made at specified intervals?
15. A life insurance policy that covers two parties, but only Survivorship Life
pays when the last party dies is known as:
16. Most Term Life insurance:
