Actual exam Questions & Expertly
Quiz_________________?
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
Quiz_________________?
A contract that has as its basic function the systematic liquidation of accumulated assets
through periodic payments is called an -
Answer✅
annuity
Quiz_________________?
A contract that promises to pay an income to an insured until his/her death is called -
Answer✅
life annuity
Quiz_________________?
A life insurance application is incomplete if it is missing the signature of which of the
following? -
1
, Answer✅
The proposed adult insured
Quiz_________________?
A life policy is usually contestable due to material misrepresentation on the application for a
period of: -
Answer✅
2 years
Quiz_________________?
A payor benefit rider provides which of the following benefits? -
Answer✅
a temporary waiver of premium should the payor die, until the insured reaches a
predetermined age
Quiz_________________?
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? -
Answer✅
children
Quiz_________________?
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 25 percent
higher premium for one of the policies. The difference in premiums is probably due to which
of the following factors? -
Answer✅
Risk classification
2
Quiz_________________?
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
Quiz_________________?
A contract that has as its basic function the systematic liquidation of accumulated assets
through periodic payments is called an -
Answer✅
annuity
Quiz_________________?
A contract that promises to pay an income to an insured until his/her death is called -
Answer✅
life annuity
Quiz_________________?
A life insurance application is incomplete if it is missing the signature of which of the
following? -
1
, Answer✅
The proposed adult insured
Quiz_________________?
A life policy is usually contestable due to material misrepresentation on the application for a
period of: -
Answer✅
2 years
Quiz_________________?
A payor benefit rider provides which of the following benefits? -
Answer✅
a temporary waiver of premium should the payor die, until the insured reaches a
predetermined age
Quiz_________________?
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? -
Answer✅
children
Quiz_________________?
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 25 percent
higher premium for one of the policies. The difference in premiums is probably due to which
of the following factors? -
Answer✅
Risk classification
2
