Exam (elaborations)
WISCONSIN LIFE INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
- Course
- Institution
WISCONSIN LIFE INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
[Show more]
Content preview
WISCONSIN LIFE INSURANCE EXAM 2024/2025WITH 100% ACCURATE SOLUTIONS
,WISCONSIN LIFE INSURANCE EXAM 2024/2025
WITH 100% ACCURATE SOLUTIONS
Any person who violates an insurance statute or rule of Wisconsin can
be fined up to: - Precise Answer ✔✔$10,000
The Federal Fair Credit Reporting Act: - Precise Answer ✔✔Regulates
consumer reports
The Federal Fair Credit Reporting Act: A) Prevents money laundering
B) Regulates Consumer reports C) Protects customer privacy D)
Regulates telemarketing - Precise Answer ✔✔Regulates consumer
reports
What form of the annuity settlement options provides payments to an
annuitant for the rest of the annuitant's life and ceases at the annuitant's
death? - Precise Answer ✔✔Pure Life
During a life insurance policy replacement, the insurer is required to
provide the policyowner a free-lock period of at least: - Precise Answer
✔✔30 days
When replacing a policy an insurer must maintain a file containing
copies of statements for: - Precise Answer ✔✔5 years
,Which Universal Life option has a gradually increasing cash value and a
level of death benefit? - Precise Answer ✔✔Option A
The type of term insurance that provides increasing death benefits as the
insured ages is called: - Precise Answer ✔✔Increasing term
If a beneficiary wants a guarantee that benefits paid from principal and
interest would be paid for a period of 10 years before being exhausted,
what settlement option should the beneficiary select?
A) Interest Only
B) Fixed Period
C) Life with period certain
D) Fixed amount - Precise Answer ✔✔Fixed period
If a policy has an automatic premium loan provision, what happens if the
insured dies before the loan is paid back?
A) The policy beneficiary receives the FULL death benefit.
B) The balance of the loan will be TAKEN OUT of the death benefit -
Precise Answer ✔✔The balance of the loan will be taken out of the
death benefit
Are insurance company underwriters allowed to discriminate?
A) No, discrimination is an unfair practice
B) Yes, but no unfairly - Precise Answer ✔✔Yes, but not unfairly
, Which of the following riders added to a life insurance policy can pay
part of the death benefit ___ home? - Precise Answer ✔✔long-term care
If a beneficiary wants a guarantee that benefits paid from principal and
interest would be paid for a period of 10 years before being exhausted,
what settlement option should the beneficiary select?
A) Fixed period
B) Life with period certain - Precise Answer ✔✔Fixed period
Which of the following settlement options in life insurance is known as
straight life?
A) Single life
B) Life with period certain
C) Fixed amount
D) Life income - Precise Answer ✔✔Life Income
Annuities differ from life insurance in all of the following ways
EXCEPT
A) There is no stated amount of death benefit
B) They can be used in a qualified retirement plan
C) The annuitant must be living to collect
D) They are purchased with premiums - Precise Answer ✔✔They are
purchased with premiums
What is the main purpose of the Seven-pay Test?
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 YANCHY. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79400 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
