TN Life Insurance Exam Review (Questions)
Term life insurance shall never provide:
a. death protection
d. a living benefit
b. low premiums
c. temporary protection
d. a living benefit
The premium paid on whole life would be
___________ at the age 25 than age 75:
a. more c. same
b. less
c. same
d. twice the rate
If the insured lives to age 100 on a whole
life coverage, the cash value would be
___________ the face amount:
b. equal to
a. less than
b. equal to
c. more than
d. double
The premium on limited payment whole
life vs continuous pay whole life would
be:
c. more
a. less
b. same
c. more
d. identical
The cash value on limited payment
whole life vs. continuous pay whole life
would be:
c. more
a. less
b. same
c. more
d. exactly equal
, TN Life Insurance Exam Review (Questions)
This type of life insurance always has a
level premium:
a. term b. whole
b. whole
c. variable
d. annuity
How much of the group life of $75,000
would be taxable to the beneficiary:
a. $25,000 d. none
b. $50,000
c. $75,000
d. none
Adjustable life you may change all ex-
cept:
a. raise the face amount a. raise the face amount
b. lower the face amount
c. raise the premium
d. lower the premium
A permanent life policy allows policy-
holders to tie accumulation values to a
stock market index. (i.e., S&P 500):
b. indexed life
a. variable life
b. indexed life
c. term life
d. variable universal life
Third party ownership (not the owner)
policy is owned by:
a. co-workers c. corporation or spouse
b. insured is owner
c. corporation or spouse
d. owned by policyholders
, TN Life Insurance Exam Review (Questions)
On a joint life last survivorship policy who
would collect:
a. beneficiaries of the first to die b. beneficiaries of the second to die
b. beneficiaries of the second to die
c. 50% paid to each of the above
d. beneficiaries of either of the first to die
This provision would waive the bread-
winner's premium on their policy should
he/she become disabled for 90 days:
a. waiver of premium
a. waiver of premium
b. juvenile
c. payor benefit
d. disability rider
This provision would waive the child's
premium on their policy should the par-
ent die or become disabled:
c. payor benefit
a. waiver of premium
b. juvenile
c. payor benefit
d. disability rider
This life policy, based on the money pur-
chase concept, allows the insured to ad-
just the policy face amount, premium and
length of protection:
a. adjustable life
a. adjustable life
b. variable life
c. universal life
d. changeable life
This life product could be defined as a
one-year renewable term insurance and
a cash account realizing current interest
b. universal life
rates:
a. adjustable life
Term life insurance shall never provide:
a. death protection
d. a living benefit
b. low premiums
c. temporary protection
d. a living benefit
The premium paid on whole life would be
___________ at the age 25 than age 75:
a. more c. same
b. less
c. same
d. twice the rate
If the insured lives to age 100 on a whole
life coverage, the cash value would be
___________ the face amount:
b. equal to
a. less than
b. equal to
c. more than
d. double
The premium on limited payment whole
life vs continuous pay whole life would
be:
c. more
a. less
b. same
c. more
d. identical
The cash value on limited payment
whole life vs. continuous pay whole life
would be:
c. more
a. less
b. same
c. more
d. exactly equal
, TN Life Insurance Exam Review (Questions)
This type of life insurance always has a
level premium:
a. term b. whole
b. whole
c. variable
d. annuity
How much of the group life of $75,000
would be taxable to the beneficiary:
a. $25,000 d. none
b. $50,000
c. $75,000
d. none
Adjustable life you may change all ex-
cept:
a. raise the face amount a. raise the face amount
b. lower the face amount
c. raise the premium
d. lower the premium
A permanent life policy allows policy-
holders to tie accumulation values to a
stock market index. (i.e., S&P 500):
b. indexed life
a. variable life
b. indexed life
c. term life
d. variable universal life
Third party ownership (not the owner)
policy is owned by:
a. co-workers c. corporation or spouse
b. insured is owner
c. corporation or spouse
d. owned by policyholders
, TN Life Insurance Exam Review (Questions)
On a joint life last survivorship policy who
would collect:
a. beneficiaries of the first to die b. beneficiaries of the second to die
b. beneficiaries of the second to die
c. 50% paid to each of the above
d. beneficiaries of either of the first to die
This provision would waive the bread-
winner's premium on their policy should
he/she become disabled for 90 days:
a. waiver of premium
a. waiver of premium
b. juvenile
c. payor benefit
d. disability rider
This provision would waive the child's
premium on their policy should the par-
ent die or become disabled:
c. payor benefit
a. waiver of premium
b. juvenile
c. payor benefit
d. disability rider
This life policy, based on the money pur-
chase concept, allows the insured to ad-
just the policy face amount, premium and
length of protection:
a. adjustable life
a. adjustable life
b. variable life
c. universal life
d. changeable life
This life product could be defined as a
one-year renewable term insurance and
a cash account realizing current interest
b. universal life
rates:
a. adjustable life
