_____________Quiz____________?
When can a policy owner change a revocable beneficiary? -
Answer✓✓
Anytime
_____________Quiz____________?
J would like to maintain the right to change beneficiaries. Which beneficiary designation
should be used? -
Answer✓✓
Revocable
_____________Quiz____________?
M purchased an Accidental Death and Dismemberment (AD&D) policy and named his son
as beneficiary. M has the right to change the beneficiary designation at anytime. What type
of beneficiary is his son? -
Answer✓✓
Revocable Beneficiary
_____________Quiz____________?
revocable beneficiary -
Answer✓✓
1
, the policy owner may change the beneficiary at any time without notifying or getting
permission from the beneficiary.
_____________Quiz____________?
K is the insured and P is the sole beneficiary on a life insurance policy. Both are involved in a
fatal accident where K dies before P. Under the Common Disaster provision, which of these
statements is true? -
Answer✓✓
Proceeds will be paid to K's estate if P dies within a specified time
_____________Quiz____________?
How would a contingent beneficiary receive the policy proceeds in an Accidental Death and
Dismemberment (AD&D) policy? -
Answer✓✓
If the primary beneficiary dies before the insured
_____________Quiz____________?
Which statement is true regarding a minor beneficiary -
Answer✓✓
Normally, a guardian is required to be appointed in the Beneficiary clause of the contract
_____________Quiz____________?
A life insurance application must be signed by all of these EXCEPT -
Answer✓✓
Beneficiaries are not required to sign an insurance application
_____________Quiz____________?
K applies for a life insurance policy on herself and submits the initial premium with the
application. She is given a receipt by the agent stating that coverage begins immediately if the
application is approved. What kind of receipt was used? -
2
, Answer✓✓
A conditional receipt indicates that certain conditions must be met in order for the
insurance coverage to go into effect.
_____________Quiz____________?
P is a producer who notices 5 questions on a life application were not answered. What
actions should P take? -
Answer✓✓
Schedule another appointment with the applicant to complete the unanswered questions
_____________Quiz____________?
M completes an application for life insurance but does not pay the initial premium. All of
these actions must occur before M's policy goes into effect EXCEPT -
Answer✓✓
Free-look period has expired
_____________Quiz____________?
An applicant's medical information received from the Medical Information Bureau (MIB) may
be furnished to the -
Answer✓✓
Applicant's physician
_____________Quiz____________?
On August 6, D submitted an application for a $50,000 Life Insurance policy and did not pay
the initial premium. On August 18, D went to his doctor complaining of chest pains and
some tests were given by the doctor. The life policy was delivered by the producer on
August 20 and D explains what had recently taken place with the doctor. What action
should the producer then take? -
Answer✓✓
Collect initial premium along with a signed health statement
3
When can a policy owner change a revocable beneficiary? -
Answer✓✓
Anytime
_____________Quiz____________?
J would like to maintain the right to change beneficiaries. Which beneficiary designation
should be used? -
Answer✓✓
Revocable
_____________Quiz____________?
M purchased an Accidental Death and Dismemberment (AD&D) policy and named his son
as beneficiary. M has the right to change the beneficiary designation at anytime. What type
of beneficiary is his son? -
Answer✓✓
Revocable Beneficiary
_____________Quiz____________?
revocable beneficiary -
Answer✓✓
1
, the policy owner may change the beneficiary at any time without notifying or getting
permission from the beneficiary.
_____________Quiz____________?
K is the insured and P is the sole beneficiary on a life insurance policy. Both are involved in a
fatal accident where K dies before P. Under the Common Disaster provision, which of these
statements is true? -
Answer✓✓
Proceeds will be paid to K's estate if P dies within a specified time
_____________Quiz____________?
How would a contingent beneficiary receive the policy proceeds in an Accidental Death and
Dismemberment (AD&D) policy? -
Answer✓✓
If the primary beneficiary dies before the insured
_____________Quiz____________?
Which statement is true regarding a minor beneficiary -
Answer✓✓
Normally, a guardian is required to be appointed in the Beneficiary clause of the contract
_____________Quiz____________?
A life insurance application must be signed by all of these EXCEPT -
Answer✓✓
Beneficiaries are not required to sign an insurance application
_____________Quiz____________?
K applies for a life insurance policy on herself and submits the initial premium with the
application. She is given a receipt by the agent stating that coverage begins immediately if the
application is approved. What kind of receipt was used? -
2
, Answer✓✓
A conditional receipt indicates that certain conditions must be met in order for the
insurance coverage to go into effect.
_____________Quiz____________?
P is a producer who notices 5 questions on a life application were not answered. What
actions should P take? -
Answer✓✓
Schedule another appointment with the applicant to complete the unanswered questions
_____________Quiz____________?
M completes an application for life insurance but does not pay the initial premium. All of
these actions must occur before M's policy goes into effect EXCEPT -
Answer✓✓
Free-look period has expired
_____________Quiz____________?
An applicant's medical information received from the Medical Information Bureau (MIB) may
be furnished to the -
Answer✓✓
Applicant's physician
_____________Quiz____________?
On August 6, D submitted an application for a $50,000 Life Insurance policy and did not pay
the initial premium. On August 18, D went to his doctor complaining of chest pains and
some tests were given by the doctor. The life policy was delivered by the producer on
August 20 and D explains what had recently taken place with the doctor. What action
should the producer then take? -
Answer✓✓
Collect initial premium along with a signed health statement
3
