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Life insurance Exam Practice Questions and Answers | 100% Pass
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Life insurance Exam Practice Questions and Answers | 100% Pass A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. This is a personal use of life insurance known as - Answer️️ -survivor protection Under wha...

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Document information

  • September 1, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life insurance exam practice questions and answers

Written for

  • Life insurance
  • Life insurance

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SophiaBennett

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©SOPHIABENNETT
2024/2025 ACADEMIC YEAR




©SOPHIABENNETT 9/1/24 2024/2025

, Life insurance Exam Practice Questions
and Answers | 100% Pass


A producer is helping a married couple determine the financial needs of their children in

the event one or both should die prematurely. This is a personal use of life insurance

known as - Answer✔️✔️-survivor protection


Under what circumstances may a life insurance agent deliver a policy that is dated up to

3 months before the application was taken? - Answer✔️✔️-To avoid an increase in

premium rate for the insured

What must happen when an individual policy or annuity has been personally delivered

to the policyowner? - Answer✔️✔️-The policyowner must sign a delivery receipt.

What limits the amount that a policyowner may borrow from a whole life insurance

policy? - Answer✔️✔️-cash value

Which of the following statements is correct about a standard risk classification in the

same age group and with similar lifestyles? - Answer✔️✔️-Standard risk is representative

of the majority of people

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? - Answer✔️✔️-fixed period

Which of the following insurance options would be considered a risk-sharing

arrangement? - Answer✔️✔️-reciprocal

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