Pearson BTEC

Term life insurance shall never provide: a. death protection b. low premiums c. temporary protection d. a living benefit Correct Answers d. a living benefit The premium paid on whole life would be ___________ at the age 25 than age 75: a. more b. less c. same d. twice the rate Correct Answers c. same If the insured lives to age 100 on a whole life coverage, the cash value would be ___________ the face amount: a. less than b. equal to c. more than

Common Disaster Clause provides that if both the insured and the sole named beneficiary were to die in a common accident, which of the following is true? Correct Answers This clause provides the payment of proceeds to the insured's estate Under a life insurance policy the ___ has the authority to name the beneficiary? Correct Answers owner B recently died and was insured with a life insurance policy for over five years. During the claims process, the insurer discovered that B had unders...

Pooling of Risks Correct Answers A large group of people contribute money to a fund out of which their losses can be paid Policyowner Correct Answers is the person or org that applies for the policy and pays the premium Actuarial Tables Correct Answers Are statistical tables that are used when calculating premium rates and mortality loss reserves

What does a 401(k) plan generally provide its participants? Correct Answers Salary-deferral contributions What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the required minimum distributions from their qualified retirement plan? Correct Answers 50% What is the maximum number of employees (earning at least $5,000) that an employer can have in order to start a SIMPLE retirement plan? Correct Answers 100 What determine the full amount of social...

PEARSON VUE: CASUALTY INSURANCE PRACTICE EXAM COMPREHENSIVE EXAM QUESTIONS WITH DETAILED VERIFIED AND 100% ACCURATE ANSWERS BRAND NEW EXAM ALREADY GRADED A

PEARSON VUE - LIFE PROVISIONS, RIDERS, OPTIONS, AND EXCLUSIONS PREP REVIEW EXAM COMPREHENSIVE EXAM QUESTIONS WITH DETAILED VERIFIED AND 100% ACCURATE ANSWERS BRAND NEW EXAM ALREADY GRADED A+

which of the following documents must be provided to the Policyowner or applicant during policy replacement? A) notice regarding replacement B) disclosure authorization form C) buyers guide and policy summary D) policy illustration Correct Answers notice regarding replacement a group insurance policy issued to a nonprofit industrial association must cover at least how many employees at the dat of issue A) 100 B) 1000 C) 10 D) 50 Correct Answers 1000 what is the purpose of life insu...

C. 30 Correct Answers The Commissioner must provide a person subject to an investigation a copy of the complaint which initiated the investigation within _______ days of receiving the complaint. A. 14 B. 21 C. 30 D. 31 C. Business entity Correct Answers A corporation, association , partnership, limited liability company, limited liability partnership, or other legal entity is a : A. Limited lines producer B. Insurance producer C. Business entity D. Insurance broker B. 18 Correct An...

Term life- Term life insurance Correct Answers Term life insurance is Temporary life insurance provided for a specific period of time. Also known as pure life insurance. What do term life policies provide? Correct Answers Term policies provide the greatest amount of coverage for the lowest premiums. Also provides pure death protection: if the insured dies during the policy term, the policy pays a death benefit to the beneficiary. what is pure death protection? Correct Answers pure death p...

Who elects the governing body of a mutual insurance company? Correct Answers policyholders What year was the McCarran-Ferguson Act enacted? Correct Answers 1945 A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is known as: Correct Answers a fraternal benefit society The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: Correct A...