100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
REAL FLORIDA LIFE AND HEALTH 2-15 EXAMS 200 QUESTIONS AND CORRECT DETAILED ANSWERS UPDATE ALREADY A GRADED $8.99   Add to cart

Exam (elaborations)

REAL FLORIDA LIFE AND HEALTH 2-15 EXAMS 200 QUESTIONS AND CORRECT DETAILED ANSWERS UPDATE ALREADY A GRADED

 2 views  0 purchase
  • Course
  • Institution

REAL FLORIDA LIFE AND HEALTH 2-15 EXAMS 200 QUESTIONS AND CORRECT DETAILED ANSWERS UPDATE ALREADY A GRADED ..

Preview 3 out of 28  pages

  • August 24, 2024
  • 28
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
avatar-seller
Created By: A Solution


REAL FLORIDA LIFE AND HEALTH 2-15 EXAMS 200 QUESTIONS AND
CORRECT 2023-2024 DETAILED ANSWERS 2023-2024 UPDATE
ALREADY A GRADED


Which of the following statements is correct about a limited pay life policy ? – CORRECT
ANSWER- ✔✔Premium payments are limited to a specified number of a years
Which of the following statements is correct about a while life policy? - CORRECT ANSWER-
✔✔ The policy owner may borrow against the cash value of the policy.
Which of the following items may be used to include coverage for children under their parents
insurance policy? - CORRECT ANSWER- ✔✔Term rider


Which life insurance arrangement is used to circumvent state insurable insurable interest statutes
key person insurance ? - CORRECT ANSWER- ✔✔Investor originated life insurance


The concept of level premiums - CORRECT ANSWER- ✔✔Charges more than needed in early
years


A policy that is overfunded, according to IRS tables, is classified as which of the following types
of policies? - CORRECT ANSWER- ✔✔Modified Endowment Contract


An agent is required to register with the National association of Securities Dealer (NASD) in
order to sell - CORRECT ANSWER- ✔✔Variable life


J, a 30 year old proposed insured, plans to retire at age 60 and wants to purchase life insurance
that offers level premiums and life protection. If J also wants the policy to be puf up when J
retires J should buy - CORRECT ANSWER- ✔✔30 Pay Life


Under a Limited-Pay Life policy, the death benefit coverage usually continues - CORRECT
ANSWER- ✔✔To age 100


A+ Page 1

,Created By: A Solution



Equity indexed life insurance - CORRECT ANSWER- ✔✔•Is linked to an outside equity index,
like S&P 500.
•It is permanent insurance and the cash value accumulate at a guaranteed minimum rate.
•If the return of the index exceeds the policy's guaranteed rate of return, the cash value will
reflect that of the index.


Variable whole life policy offers which of the following features - CORRECT ANSWER- ✔✔
A fixed, level premium


Example of limited pay life policy is - CORRECT ANSWER- ✔✔Life Paid-up at Age 65


Which of the following policy sections enables a policy owner to exchange one insurance policy
for a policy of a different kind - CORRECT ANSWER- ✔✔Conversion privilege


Which of the following is correct about the premium payment schedule for a whole life policy -
CORRECT ANSWER- ✔✔Premiums are payable throughout the insured's life and coverage
continues until the insured's death


Which of the following statements is correct about limited pay life policy - CORRECT
ANSWER- ✔
✔Premium payments are limited to a specified number of a years


Which of the following factors are most important when insured Owner is trying to decide
whether to convert term insurance at the insured's original age to the insured attained age -
CORRECT ANSWER- ✔✔Cost of insurance


Which of the following statements is correct about a variable insurance contract - CORRECT
ANSWER- ✔✔It does not guarantee a return on investment accounts



A+ Page 2

, Created By: A Solution


Which of the following policies provide temporary coverage that may be changed to permanent
coverage without regard of the insured's health - CORRECT ANSWER- ✔✔Convertible term


Which of the following types of insurance policies would provide the greatest amount of
protection for a temporary period - CORRECT ANSWER- ✔✔term


A guaranteed insurability rider allows an insured to purchase additional insurance - CORRECT
ANSWER- ✔✔Specified future dates without submitting proof of insurability


A policy owner decides to use dividends from a life insurance policy to purchase paid up
additions. The policy owner asked an agent to explain how the amount of the paid up addition
that is purchased each year will be determined. The agents explanation includes all the following
- CORRECT ANSWER- ✔✔•The insured's attained age
•The amount of dividends
•The type of policy
And insured must present evidence of insurability within a reasonable time after a policy has
lapsed to exercise which of the following provisions - CORRECT ANSWER- ✔✔
Reinstatement


The primary purpose of including a suicide provision in a life insurance policy is to - CORRECT
ANSWER- ✔✔Protect the insurer against the purchase of a policy in contemplation of suicide


Which of the following sections of a life insurance contract states that the application is part of
the contract - CORRECT ANSWER- ✔✔Entire Contract provision


Which of the following statements about suicide clause is correct with regard to an individual
life policy - CORRECT ANSWER- ✔✔Suicide may be excluded up to a year from date of issue
of coverage while sane or insane
All of the following are systems that support the sale of insurance through agents and brokers...
- CORRECT ANSWER- ✔✔Independent Agency system Career Agency System

A+ Page 3

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ASolution. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $8.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

71184 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$8.99
  • (0)
  Add to cart