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INDIANA LIFE AND HEALTH INSURANCE STUDY EXAM QUESTIONS WITH COMPLETE SOLUTIONS
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INDIANA LIFE AND HEALTH INSURANCE STUDY EXAM QUESTIONS WITH COMPLETE SOLUTIONS
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INDIANA LIFE AND HEALTH INSURANCESTUDY EXAM QUESTIONS WITH
COMPLETE SOLUTIONS
J is 35-years old and looking to purchase a whole life insurance policy. Which of the
following types of policies will provide the most rapid growth of cash value?
-Life paid-up at age 70
-20 pay life
-increasing Term to age 65
-Straight Line - Answer-20 Pay Life
Which of the following types of policies BEST identifies one in which the cash value may
fluctuate to reflect changing assumptions regarding mortality cost, interest, and expense
factors?
-Universal Life
- Endowment Life
-Modified Whole Life
-Graded Premium Whole Life - Answer-Universal Life
Which Provision allows the policyowner to change a term life policy to a permanent one
without providing proof of good health?
-Modifcation
-Conversion
-Exchange
-Adjustable - Answer-Conversion
Which statement is correct regarding the premium payment schedule for whole life
policies?
-Premiums are patable throughout the insured's lifetime/coverage lasts until death of the
insured
-Premiums payable for a set period/coverage expires at that point
-Premiums are payable until age 65/coverage lasts a lifetime
-A single premium is paid at time of application/coverage lasts until retirement - Answer-
Premiums are payable throughout the insured's lifetime/coverage lasts until death of the
insured
Which of the these would be considered a limited-pay life policy?
-10 year renewable and convertibile term
-Life paid-up at Age 70
-Straight Whole Life
-Renewable Term to Age 100 - Answer-Life-Paid up at Age 70
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