Pearson Vue Life Insurance Practice Exam
Latest Update 2024-2025 Actual Exam from
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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?
A.Term Life
B.Adjustable Life
C.Whole Life
D.Limited-Pay Life - CORRECT ANSWER: A
A contract that has as its basic function the systematic liquidation of accumulated assets
through periodic payments is called an:
A.indemnity contract
B.investment contract
C.endowment
D.annuity - CORRECT ANSWER: D
,A contract that promises to pay an income to an insured until his/her death is called:
A.Family Income
B.Modified Endowment
C.Survivorship Life
D.Life Annuity - CORRECT ANSWER: D
A life insurance application is incomplete if it is missing the signature of which of the
following?
A.A revocable beneficiary
B.The president of the insurer
C.The proposed insured's primary care physician
D.The proposed adult insured - CORRECT ANSWER: D
A life policy is usually contestable due to material misrepresentation on the application
for a period of:
A.30 days
B.6 months
C.2 years
, D.5 years - CORRECT ANSWER: C
A payor benefit rider provides which of the following benefits
A.A disability income benefit payable to the payor if the payor becomes disabled
B.A permanent waiver of premium should the payor die
C.A temporary waiver of premium should the payor die, until the insured reaches a
predetermined age
D.A double indemnity Death benefit payable to the beneficiary upon the death of the
payor - CORRECT ANSWER: C
A policyowner names his wife as the primary beneficiary of his Universal Life policy on a
revocable basis. He also names his three children as his secondary beneficiaries and
his estate as his tertiary beneficiary. If the policyowner's wife predeceases him, and then
he dies, who will receive the policy proceeds?
A.The children
B.The policyowner's estate
C.The primary beneficiary's estate
D.The tertiary beneficiary - CORRECT ANSWER: A
A producer takes applications from identical twins who want to buy the same type of
policy in the same amount. The insurer issues the policies as applied for, but charges a
Latest Update 2024-2025 Actual Exam from
Credible Sources with Questions and Verified
Correct Answers Golden Ticket to Guaranteed
A+ Verified by Professor
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?
A.Term Life
B.Adjustable Life
C.Whole Life
D.Limited-Pay Life - CORRECT ANSWER: A
A contract that has as its basic function the systematic liquidation of accumulated assets
through periodic payments is called an:
A.indemnity contract
B.investment contract
C.endowment
D.annuity - CORRECT ANSWER: D
,A contract that promises to pay an income to an insured until his/her death is called:
A.Family Income
B.Modified Endowment
C.Survivorship Life
D.Life Annuity - CORRECT ANSWER: D
A life insurance application is incomplete if it is missing the signature of which of the
following?
A.A revocable beneficiary
B.The president of the insurer
C.The proposed insured's primary care physician
D.The proposed adult insured - CORRECT ANSWER: D
A life policy is usually contestable due to material misrepresentation on the application
for a period of:
A.30 days
B.6 months
C.2 years
, D.5 years - CORRECT ANSWER: C
A payor benefit rider provides which of the following benefits
A.A disability income benefit payable to the payor if the payor becomes disabled
B.A permanent waiver of premium should the payor die
C.A temporary waiver of premium should the payor die, until the insured reaches a
predetermined age
D.A double indemnity Death benefit payable to the beneficiary upon the death of the
payor - CORRECT ANSWER: C
A policyowner names his wife as the primary beneficiary of his Universal Life policy on a
revocable basis. He also names his three children as his secondary beneficiaries and
his estate as his tertiary beneficiary. If the policyowner's wife predeceases him, and then
he dies, who will receive the policy proceeds?
A.The children
B.The policyowner's estate
C.The primary beneficiary's estate
D.The tertiary beneficiary - CORRECT ANSWER: A
A producer takes applications from identical twins who want to buy the same type of
policy in the same amount. The insurer issues the policies as applied for, but charges a
