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Pearson Vue Insurance Practice Exam Questions And Answers @ 2024
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Pearson Vue Insurance Practice Exam Questions AndAnswers @ 2024
Under the social security retirement benefits, all of the following factors will determine
how much a retiring individual will receive as a monthly income benefit except the
individual's - Answer Sex
In life insurance, insurance interest must exist at the time the - Answer Producer writes
an application on a proposed insured
Which of the following statements is NOT correct about representations? - Answer They
are true in every respect
An insurance producer takes an application for a life insurance policy but does not
collect the initial premium. Upon delivery of the policy to the proposed insured, the
producer must collect the initial premium and which of the following? - Answer The
insured's signed statement of continued good health
Which of the following retirement plans is tax-qualified? - Answer Defined contribution
Which of the following is CORRECT with regard to the paid-up additions in a participating
whole life policy? - Answer They are purchased on an attained age basis
The right to change a beneficiary designation is reserved for the: - Answer Policyowner
Which of the following life policy provisions describes how the proceeds will be
disbursed to a beneficiary when an insured dies? Answer Settlement options
Two business partners have life insurance policies on each other. When one partner dies,
which of the following kinds of contracts permits the surviving partner to purchase 100
, percent of the business interest? Answer buy-sell agreement
Waiver of premium provision of a life policy allows the insurer to take which of the
following actions below?
Waive an insured's premiums if the insured becomes totally disabled before a certian age
A life insurance application is incomplete without the signature of which of the following?
The proposed adult insured
Which of the following statements is correct about group life conversion privileges? -
Answer Death during the conversion period is covered if the departing employee chose
not to conver the policy.
Which of the following, upon the death of an insured, provides an income for the family
for a specified period of time, followed by a lump sum death benefit? - Answer Family
income rider
A policyowner names his wife as the primary beneficiary of his Universal Life policy, on a
revocable basis. He names his three children as his secondary beneficiaries and his
estate as his tertiary beneficiary. If the policyowner's wife predeceases him, then he dies,
who will be the recipient of the policy proceeds? Answer children
A contract that has as its basic function the systematic liquidation of accumulated assets
through periodic payments is called an - Answer annuity
All of the following policies may be examples of third party ownership except - Answer
Modified Life
Group Life
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