100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Life Insurance Exam Practice Questions and Answers | 100% Correct $11.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. Life Insurance
  4.  
  5. Life insurance

Exam (elaborations)

Life Insurance Exam Practice Questions and Answers | 100% Correct
 5 views  0 purchase
  • Course
  • Life insurance
  • Institution
  • Life Insurance

Life Insurance Exam Practice Questions and Answers | 100% Correct In a fixed annuity, which of the folllowing is true regarding the guaranteed interest rate on the investment ? - Answer️️ -the annuitant will recieve the higher of either the guaranteed minimum rate or current rate All of th...

[Show more]

Preview 3 out of 26  pages

Document information

  • September 1, 2024
  • 26
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life insurance exam practice questions and answers

Written for

  • Life insurance
  • Life insurance

Seller

avatar-seller
SophiaBennett

Reviews received

Content preview

©SOPHIABENNETT
2024/2025 ACADEMIC YEAR




©SOPHIABENNETT 9/1/24 2024/2025

,Life Insurance Exam Practice Questions
and Answers | 100% Correct


In a fixed annuity, which of the folllowing is true regarding the guaranteed interest rate

on the investment ? - Answer✔️✔️-the annuitant will recieve the higher of either the

guaranteed minimum rate or current rate

All of the following are factors that an underwriter coukd use to select and classify risk

except ? - Answer✔️✔️-national origin

For the purpose of examination by the department, insurers must keep a record of all

financial files for at least... - Answer✔️✔️-5 years

Which of the following is NOT a goal of risk retention ? - Answer✔️✔️-to minimize the

insured's level of liability in the event of loss

The rider in a whole life policy that allows the company to forgo collecting the premium if

the insured is disabled is called... - Answer✔️✔️-Waiver of premium

An insured has entered into a viatical settlement but decides that he would like to back

out of the contract. Which of the followingis true ? - Answer✔️✔️-the insured has 15

calendar days from the effective date of the contract to recind it

An applicant wants to buy a life insurance policy in which he can count on recieveing

the same benefits as stated in the contract. Which type should he buy ? - Answer✔️✔️-

Fixed

, Underlying assets for variable annuity contracts must be maintained in what type of

account ? - Answer✔️✔️-separate account

At the time of initial licensing, what fee must a viatical settlement provider pay ? -

Answer✔️✔️-$300

Insurance producers that do not have company appointments are considered a/an... -

Answer✔️✔️-representative of the consumer

If a insurance company makes a statement that it's policies are guaranteed by the

existence of the Insurance Guaranty Association, that would be considered... -

Answer✔️✔️-an unfair trade practice

Which of the following is NOT typically excluded from life policies ? - Answer✔️✔️-death

due to plane crash for a fare-paying passenger

Based on Human Life Value Approach, which of the following is NOT used to calculate

an individuals life value ? - Answer✔️✔️-predicted needs of the family after the insured's

death

When a reduced-paid up nonforfeiture option is chosen, what happens to the face

amount of the policy ? - Answer✔️✔️-it is reduced to the amount of what cash value

would buy as a single premium

An individual was just caught acting as an exclusive general agent - even though he is

not properly licensed. Assuming that this occured in a single day. What is the maximum

penalty he faces ? - Answer✔️✔️-a 3rd degree misdemenor and a $1,000 fine

All of the following statements are true regarding installments for a fixed amount

EXCEPT... - Answer✔️✔️-the payments will stop when the annuitant dies

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 SophiaBennett. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81989 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

Recently viewed by you

Exam (elaborations) ·

(0)

Cosmetology Clinical Exam/ 75+ Qs & Ans/ 2024-2025.

$11.49
  • (0)
  Add to cart