PEARSONVUE LIFE INSURANCE PRACTICE ACTUAL
NEWEST EXAM COMPLETE 80 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+.
Which of the following terms refers to the transfer of some or all of the
ownership rights of a life insurance policy from one individual to
another? ✔✔ANSWER✔✔Assignment
Which of the following statements about a Renewable Term policy is
CORRECT? ✔✔ANSWER✔✔It is renewable at the option of the insured.
Two business partners own life insurance on each other. If one partner
dies, which of the following contracts will allow the other partner to
buy 100 percent of the business interest? ✔✔ANSWER✔✔Buy and Sell
Agreement
An insured intentionally understates her age on her application for a life
policy. At death, the insurer will take which of the following actions?
✔✔ANSWER✔✔Pay a reduced Death benefit based on the insured's
actual age
An applicant's statements on an application are considered to be legal:
✔✔ANSWER✔✔representations
, A contract that promises to pay an income to an insured until his/her
death is called: ✔✔ANSWER✔✔Life Annuity
An employer can deduct premium payments as an ordinary business
expense for which of the following life coverages?
✔✔ANSWER✔✔Group
Which of the following annuities would BEST suit the needs of a 35-
year-old factory worker who is concerned about inflation and wants to
establish a retirement plan? ✔✔ANSWER✔✔A Flexible Premium
Variable Annuity
A client needs a substantial amount of protection but has limited
financial resources. Which of the following insurance policies would
BEST meet the client's needs? ✔✔ANSWER✔✔Term Life
An applicant for life insurance may question the validity and source of
any consumer information developed under the: ✔✔ANSWER✔✔Fair
Credit Reporting Act (Insurance Information and Privacy Protection Act)
Which of the following policy provisions provides for continuation of
coverage despite nonpayment of premiums?
✔✔ANSWER✔✔Nonforfeiture Option
NEWEST EXAM COMPLETE 80 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+.
Which of the following terms refers to the transfer of some or all of the
ownership rights of a life insurance policy from one individual to
another? ✔✔ANSWER✔✔Assignment
Which of the following statements about a Renewable Term policy is
CORRECT? ✔✔ANSWER✔✔It is renewable at the option of the insured.
Two business partners own life insurance on each other. If one partner
dies, which of the following contracts will allow the other partner to
buy 100 percent of the business interest? ✔✔ANSWER✔✔Buy and Sell
Agreement
An insured intentionally understates her age on her application for a life
policy. At death, the insurer will take which of the following actions?
✔✔ANSWER✔✔Pay a reduced Death benefit based on the insured's
actual age
An applicant's statements on an application are considered to be legal:
✔✔ANSWER✔✔representations
, A contract that promises to pay an income to an insured until his/her
death is called: ✔✔ANSWER✔✔Life Annuity
An employer can deduct premium payments as an ordinary business
expense for which of the following life coverages?
✔✔ANSWER✔✔Group
Which of the following annuities would BEST suit the needs of a 35-
year-old factory worker who is concerned about inflation and wants to
establish a retirement plan? ✔✔ANSWER✔✔A Flexible Premium
Variable Annuity
A client needs a substantial amount of protection but has limited
financial resources. Which of the following insurance policies would
BEST meet the client's needs? ✔✔ANSWER✔✔Term Life
An applicant for life insurance may question the validity and source of
any consumer information developed under the: ✔✔ANSWER✔✔Fair
Credit Reporting Act (Insurance Information and Privacy Protection Act)
Which of the following policy provisions provides for continuation of
coverage despite nonpayment of premiums?
✔✔ANSWER✔✔Nonforfeiture Option
