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ARM 401 Exam Test Bank 2 Latest 214 Questions
and Correct Answers / ARM 401 Holistically
Assessing Risk Exam Prep Qs and As
Which of the following isn't a benefit of Life Insurance?
A.the death benefit is part of the probate property
B.Protection from Creditors
C.Tax Benefits
D. Vehicle Savings - ...ANSWER...✓✓ A
Which of the following is NOT the correct description for
term life insurance:
A. Allow renewal for another term without showing
medical review
B. Build cash value
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C. Economical way for young families to purchase large
amounts of life insurance
D. Death benefit is usually income tax free -
...ANSWER...✓✓ B
What are the benefits of whole life Insurance?
a) Financial protection for dependents
b) Protection from creditors of the plan owner
c) Tax benefits
d) vehicle for savings
e) All of the above - ...ANSWER...✓✓ E
Which of the following is NOT a characteristic of an HMO:
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A) You must designate a primary care physician
B) Less expensive premiums than a PPO
C) Your primary care physician must refer you to a
specialist (you cannot choose your own)
D) Higher deductibles than a PPO - ...ANSWER...✓✓ D
Drawbacks of an HMO include
a. limited choice of physicians.
b. no coverage for preventive treatments.
c. limited availability through group plans.
d. higher deductibles and copayments compared to other
plans. - ...ANSWER...✓✓ A
What is one of the common retirement mistakes?
A. Not starting a 401K early enough
B. Not being married at the time of retirement
ARM 401 Exam Test Bank 2 Latest 214 Questions
and Correct Answers / ARM 401 Holistically
Assessing Risk Exam Prep Qs and As
Which of the following isn't a benefit of Life Insurance?
A.the death benefit is part of the probate property
B.Protection from Creditors
C.Tax Benefits
D. Vehicle Savings - ...ANSWER...✓✓ A
Which of the following is NOT the correct description for
term life insurance:
A. Allow renewal for another term without showing
medical review
B. Build cash value
,2|Page
C. Economical way for young families to purchase large
amounts of life insurance
D. Death benefit is usually income tax free -
...ANSWER...✓✓ B
What are the benefits of whole life Insurance?
a) Financial protection for dependents
b) Protection from creditors of the plan owner
c) Tax benefits
d) vehicle for savings
e) All of the above - ...ANSWER...✓✓ E
Which of the following is NOT a characteristic of an HMO:
, 3|Page
A) You must designate a primary care physician
B) Less expensive premiums than a PPO
C) Your primary care physician must refer you to a
specialist (you cannot choose your own)
D) Higher deductibles than a PPO - ...ANSWER...✓✓ D
Drawbacks of an HMO include
a. limited choice of physicians.
b. no coverage for preventive treatments.
c. limited availability through group plans.
d. higher deductibles and copayments compared to other
plans. - ...ANSWER...✓✓ A
What is one of the common retirement mistakes?
A. Not starting a 401K early enough
B. Not being married at the time of retirement
