Tennessee Life Insurance EXAM 2026-2027 LATEST
VERSION QUESTIONS AND VERIFIED CORRECT
ANSWERS JUST RELEASED
A universal life plan differs from a whole life plan in all of the following ways
EXCEPT:
= A whole life plan displays a detailed list of all mortality, expense and
interest payments in the premium calculation.
= A universal life plan may have features that are not guaranteed.
= The cost of life insurance may vary from year to year on a universal life
contract.
= The administrative expenses are a listed charge in universal life. -
answer>>>=A whole life plan displays a detailed list of all mortality, expense
and interest payments in the premium calculation.
The cash value in a whole life policy is held in the insurance company's? -
answer>>>General account
An agent wants to qualify to sell variable life plans. He must: - answer>>>be
licensed from both the state and Financial Industry Regulatory Authority
(FINRA) formally (NASD), because variable plans are regulated as
securities. Failure to do either could result in some very harsh penalties.
Matthew has recently purchased a variable life insurance policy. In reading his
prospectus, he sees that the various accounts have the same managers as some
of the mutual funds he owns. Matthew should understand -
answer>>>The insurance company maintains separate accounts for each
investment and they are not co-mingled with other assets.
Universal life policies are similar to whole life in that they .
- answer>>>both provide death protection and cash value
, Tennessee Life Insurance EXAM 2026-2027 LATEST
VERSION QUESTIONS AND VERIFIED CORRECT
ANSWERS JUST RELEASED
-
Universal life policies offer flexibility, but benefits are not fixed and
guaranteed as they are in the whole life policies. Whole life policies do not
treat cash withdrawals as partial surrenders.
A variable life plan must be a type of universal life because -
answer>>>The accumulation accounts must be separated from general
company assets.
All of the following are true concerning Interest Sensitive Whole Life (ISWL)
EXCEPT:
= The death benefit is guaranteed as long as premiums are paid.
= Policy loans are available.
= The policyholder will always know the amount of cash value available.
= The cash account accumulates tax free inside the policy. - answer>>>= The
policyholder will always know the amount of cash value available.
One of the most common types of life insurance is the whole life insurance
policy. What are typical characteristic of a whole life policy? - answer>>>=
The premiums remain level for the entire period that the policy is in force.
= Whole life policies have a guaranteed cash value.
= The face amount of the policy does not change while the policy is in force.
A family maintenance policy uses a rider, rather than a
rider, which is used in a family
income policy. - answer>>>level term, decreasing term
When constructing an adjustable life policy, which of the following is used as
the base policy? - answer>>>Whole life
An adjustable life policy is a whole life base with a term rider.
, Tennessee Life Insurance EXAM 2026-2027 LATEST
VERSION QUESTIONS AND VERIFIED CORRECT
ANSWERS JUST RELEASED
The ___ life policy takes 30 years to pay, and it endows at the age of 100. -
answer>>>30
year limited pay
, Tennessee Life Insurance EXAM 2026-2027 LATEST
VERSION QUESTIONS AND VERIFIED CORRECT
ANSWERS JUST RELEASED
What type of policy does Shelly have if the cash value in Shelly's policy
increased to a point where the corridor was applied? - answer>>>Universal
life option 1
What policy is sold in proportioned units to cover an insured, as well as the
insured's spouse and children? - answer>>>Family plan
Which of the following is a business plan where each of the partners agree to
buy the interest of a deceased partner? - answer>>>Cross purchase plan
Difference between entity plan and cross purchase plan? - answer>>>In an
entity plan, the partnership itself agrees to buy the deceased partner's share
of the business.
With a cross purchase plan, each partner agrees to buy out the others interest
in the business.
With a universal life policy, which of the following is NOT a true statement?
= The death benefit can be modified.
= Cash values can be allotted toward premium payments.
= Premiums can be increased or decreased.
= With changes, a new policy needs to be issued immediately. -
answer>>>= With changes, a new policy needs to be issued
immediately.
is a conversion permitted in an industrial life insurance policy? -
answer>>>Of two or more policies into a single ordinary policy
Clark has a universal life policy. What are the reserves usually invested in
with this type of policy? - answer>>>Long-term securities
Harriet owns a 30-pay life policy that she purchased at the age of 30. When
will the cash value equal the face amount of the policy? - answer>>>When
Harriet turns 100
VERSION QUESTIONS AND VERIFIED CORRECT
ANSWERS JUST RELEASED
A universal life plan differs from a whole life plan in all of the following ways
EXCEPT:
= A whole life plan displays a detailed list of all mortality, expense and
interest payments in the premium calculation.
= A universal life plan may have features that are not guaranteed.
= The cost of life insurance may vary from year to year on a universal life
contract.
= The administrative expenses are a listed charge in universal life. -
answer>>>=A whole life plan displays a detailed list of all mortality, expense
and interest payments in the premium calculation.
The cash value in a whole life policy is held in the insurance company's? -
answer>>>General account
An agent wants to qualify to sell variable life plans. He must: - answer>>>be
licensed from both the state and Financial Industry Regulatory Authority
(FINRA) formally (NASD), because variable plans are regulated as
securities. Failure to do either could result in some very harsh penalties.
Matthew has recently purchased a variable life insurance policy. In reading his
prospectus, he sees that the various accounts have the same managers as some
of the mutual funds he owns. Matthew should understand -
answer>>>The insurance company maintains separate accounts for each
investment and they are not co-mingled with other assets.
Universal life policies are similar to whole life in that they .
- answer>>>both provide death protection and cash value
, Tennessee Life Insurance EXAM 2026-2027 LATEST
VERSION QUESTIONS AND VERIFIED CORRECT
ANSWERS JUST RELEASED
-
Universal life policies offer flexibility, but benefits are not fixed and
guaranteed as they are in the whole life policies. Whole life policies do not
treat cash withdrawals as partial surrenders.
A variable life plan must be a type of universal life because -
answer>>>The accumulation accounts must be separated from general
company assets.
All of the following are true concerning Interest Sensitive Whole Life (ISWL)
EXCEPT:
= The death benefit is guaranteed as long as premiums are paid.
= Policy loans are available.
= The policyholder will always know the amount of cash value available.
= The cash account accumulates tax free inside the policy. - answer>>>= The
policyholder will always know the amount of cash value available.
One of the most common types of life insurance is the whole life insurance
policy. What are typical characteristic of a whole life policy? - answer>>>=
The premiums remain level for the entire period that the policy is in force.
= Whole life policies have a guaranteed cash value.
= The face amount of the policy does not change while the policy is in force.
A family maintenance policy uses a rider, rather than a
rider, which is used in a family
income policy. - answer>>>level term, decreasing term
When constructing an adjustable life policy, which of the following is used as
the base policy? - answer>>>Whole life
An adjustable life policy is a whole life base with a term rider.
, Tennessee Life Insurance EXAM 2026-2027 LATEST
VERSION QUESTIONS AND VERIFIED CORRECT
ANSWERS JUST RELEASED
The ___ life policy takes 30 years to pay, and it endows at the age of 100. -
answer>>>30
year limited pay
, Tennessee Life Insurance EXAM 2026-2027 LATEST
VERSION QUESTIONS AND VERIFIED CORRECT
ANSWERS JUST RELEASED
What type of policy does Shelly have if the cash value in Shelly's policy
increased to a point where the corridor was applied? - answer>>>Universal
life option 1
What policy is sold in proportioned units to cover an insured, as well as the
insured's spouse and children? - answer>>>Family plan
Which of the following is a business plan where each of the partners agree to
buy the interest of a deceased partner? - answer>>>Cross purchase plan
Difference between entity plan and cross purchase plan? - answer>>>In an
entity plan, the partnership itself agrees to buy the deceased partner's share
of the business.
With a cross purchase plan, each partner agrees to buy out the others interest
in the business.
With a universal life policy, which of the following is NOT a true statement?
= The death benefit can be modified.
= Cash values can be allotted toward premium payments.
= Premiums can be increased or decreased.
= With changes, a new policy needs to be issued immediately. -
answer>>>= With changes, a new policy needs to be issued
immediately.
is a conversion permitted in an industrial life insurance policy? -
answer>>>Of two or more policies into a single ordinary policy
Clark has a universal life policy. What are the reserves usually invested in
with this type of policy? - answer>>>Long-term securities
Harriet owns a 30-pay life policy that she purchased at the age of 30. When
will the cash value equal the face amount of the policy? - answer>>>When
Harriet turns 100
