Pearson Vue Life Insurance Practice Exam With Solutions 100% Solved
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PearsonVue Life Insurance
Pearson Vue Life Insurance Practice Exam
With Solutions 100% Solved
An insurance producer takes an application for a life insurance policy but does not collect the
initial premium. On delivery of the policy to the proposed insured, the producer must collect the
initial premium and which of th...
Pearson Vue Life Insurance Practice Exam
With Solutions 100% Solved
An insurance producer takes an application for a life insurance policy but does not collect the
initial premium. On delivery of the policy to the proposed insured, the producer must collect the
initial premium and which of the following?
A.A copy of the MIB report
B.The insured's signed statement of continued good health
C.A copy of the conditional receipt
D.A copy of the temporary insurance agreement that covered the period between the application
date and the delivery date. B
An employer can deduct premium payments as an ordinary business expense for which of the
following life coverages?
A.Buy and Sell Agreements
B.Group
, Pearson Vue Life Insurance Practice Exam
With Solutions 100% Solved
C.Key Employee
D.Joint Life, if the business is named as the beneficiary B
A producer takes applications from identical twins who want to buy the same type of policy in
the same amount. The insurer issues the policies as applied for, but charges a 25 percent higher
premium for one of the policies. The difference in premiums is probably due to which of the
following factors?
A.Incontestability
B.Insurable interest
C.Consideration
D.Risk classification D
In the event of an insured's death, which of the following provides an income for the family
during a designated period of time followed by a lump sum death benefit?
A.Family Income rider
, Pearson Vue Life Insurance Practice Exam
With Solutions 100% Solved
B.Survivorship Life policy
C.Joint Life policy
D.Modified Life policy A
Which of the following statements is CORRECT about Group Life conversion privileges?
A.Under the COBRA law, a departing employee may elect to remain a member of the Group Life
plan for a limited period of time.
B.Death during the conversion period is covered even if the departing employee chose not to
convert the policy.
C.A departing employee must individually pay the premium if the employee elects to be covered
during the conversion period.
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