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life insurance exam Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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The key factor of representation that allows the intraparty to resend the contract is -:- If the representation is false any marital point The written instrument in which a contract of insurance is set forth is known as -:- A policy What is the term for a sale campaign conducted through mail ...

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  • September 6, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • life insurance exam questions 100 correct answ
  • the key factor of representation that allows the i

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2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!



Life insurance Policies Questions & 100%
Correct Answers- Latest Test | Graded A+ |
Passed
Insured buys a 5 year level premium term policy with a face amount of $10000. Policy also

contains renewability and convertibility options. When insured renews in 5 years, what

happens to the premium?


✓ -:- It will increase because the insured will be 5 years older than when the policy

was originally issued. It will remain level during the term of the policy, but upon

renewal it will be based on the insured's attained age.




What makes whole life permanent protection?


✓ -:- coverage until death or until age 100




An insured has a policy that requires him to only pay premiums for a specified number of

years until the policy is paid up. What kind of policy is it?


✓ -:- Limited Pay Life




What distinguishes a group life from individual life policy?


✓ -:- reduced adverse selection. Group life requires a number of participants

depending on the premium.



1|Page | Grade A+| 2024/2025

, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

A return of premium is referred to as what type of policy?


✓ -:- Increasing: pays an additional benefit to the beneficiary equal to death benefit

plus premiums paid.




If employee wants to enter group insurance outside of open enrollment period, insurer may

require


✓ -:- proof of insurability




Whats the difference between joint life and survivorship insurance?


✓ -:- Joint life pays a death benefit on the first death, survivorship pays on the last.




What are the ways to determine interest rates in Universal life policy?


✓ -:- maintain profit margin between interest credited on in force policies and

interest earned, declare annual rate by companies board of directors, tie current

interest rates to treasury bills.




What is not a way to determine an interest rate in a Universal Life policy?


✓ -:- Estimate market conditions for the life of the policy.




2|Page | Grade A+| 2024/2025

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