Idaho Life Producer Exam questions with
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answers
What does life insurance protect against? - CORRECT
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ANSWERS ✔✔Dying too soon. |\ |\ |\
What happens to the death benefit with a Variable
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Universal Life Policy? - CORRECT ANSWERS ✔✔It may
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increase/decrease within limits. |\ |\
Who sells insurance to a client and owes a fiduciary duty
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to an insurance company? - CORRECT ANSWERS ✔✔The
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Agent/Producer
What does a "Family Policy" provide? - CORRECT
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ANSWERS ✔✔Different coverage on different family
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members.
In order to qualify for AD&D coverage, the accident must
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directly cause death within how many days? - CORRECT
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ANSWERS ✔✔90 days |\ |\
, What is the time period called before an employee is
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eligible for group Disability Income or Health Insurance? -
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CORRECT ANSWERS ✔✔Probationary Period |\ |\ |\
Is a death benefit provided in a retirement plan? -
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CORRECT ANSWERS ✔✔No, for life insurance policies only. |\ |\ |\ |\ |\ |\ |\
Which policy requires premium payments over the
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Insured's lifetime and provides death benefit protection
|\ |\ |\ |\ |\ |\ |\
for the Insured's lifetime? - CORRECT ANSWERS
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✔✔Modified Life |\
What does a Family Maintenance policy do? - CORRECT
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ANSWERS ✔✔Pays same death benefit on deceased but |\ |\ |\ |\ |\ |\ |\ |\
extra money for survivor to maintain a level lifestyle no
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
matter how many children. |\ |\ |\
Why are SEPs preferred over Keogh Plans for small
|\ |\ |\ |\ |\ |\ |\ |\ |\
business owners? - CORRECT ANSWERS ✔✔The SEP is |\ |\ |\ |\ |\ |\ |\ |\
less complicated.
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What plans measure in investment units rather than
|\ |\ |\ |\ |\ |\ |\ |\
dollars? - CORRECT ANSWERS ✔✔Variable Life or Variable
|\ |\ |\ |\ |\ |\ |\ |\
Universal Life |\
|\ |\ |\ |\ |\ |\
answers
What does life insurance protect against? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Dying too soon. |\ |\ |\
What happens to the death benefit with a Variable
|\ |\ |\ |\ |\ |\ |\ |\ |\
Universal Life Policy? - CORRECT ANSWERS ✔✔It may
|\ |\ |\ |\ |\ |\ |\ |\
increase/decrease within limits. |\ |\
Who sells insurance to a client and owes a fiduciary duty
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
to an insurance company? - CORRECT ANSWERS ✔✔The
|\ |\ |\ |\ |\ |\ |\ |\
Agent/Producer
What does a "Family Policy" provide? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Different coverage on different family
|\ |\ |\ |\ |\ |\
members.
In order to qualify for AD&D coverage, the accident must
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
directly cause death within how many days? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔90 days |\ |\
, What is the time period called before an employee is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
eligible for group Disability Income or Health Insurance? -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Probationary Period |\ |\ |\
Is a death benefit provided in a retirement plan? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔No, for life insurance policies only. |\ |\ |\ |\ |\ |\ |\
Which policy requires premium payments over the
|\ |\ |\ |\ |\ |\ |\
Insured's lifetime and provides death benefit protection
|\ |\ |\ |\ |\ |\ |\
for the Insured's lifetime? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\
✔✔Modified Life |\
What does a Family Maintenance policy do? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Pays same death benefit on deceased but |\ |\ |\ |\ |\ |\ |\ |\
extra money for survivor to maintain a level lifestyle no
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
matter how many children. |\ |\ |\
Why are SEPs preferred over Keogh Plans for small
|\ |\ |\ |\ |\ |\ |\ |\ |\
business owners? - CORRECT ANSWERS ✔✔The SEP is |\ |\ |\ |\ |\ |\ |\ |\
less complicated.
|\
What plans measure in investment units rather than
|\ |\ |\ |\ |\ |\ |\ |\
dollars? - CORRECT ANSWERS ✔✔Variable Life or Variable
|\ |\ |\ |\ |\ |\ |\ |\
Universal Life |\
