Exam (elaborations)
Insurance license practice XCEL solutions Exam -3-part 2 Life provisions Questions with Solutions 2024
- Course
- Institution
Insurance license practice XCEL solutions Exam -3-part 2 Life provisions
[Show more]
Content preview
Insurance license practice XCELsolutions Exam #3-part 2 Life provisions
Question 1
In a life insurance policy which feature states that the policy will not cover certain risks?
- answer Exclusions
Question 2
P died five years after purchasing a life policy while investigating the claim the insured
discovered material misrepresentation made by P during the application process. Which
of the following actions will the insurer take? - answer Beneficiary will be paid the death
benefit
Question 3
Which life insurance rider typically appears on a juvenile life insurance policy? - answer
Payer benefit rider
Question 4
When an insurer issues a policy that refuses to cover certain risks, this is referred to as
a(n)? - answer Exclusions
Question 5
The Accelerated Death Benefit provision in a life insurance policy is also known as
a(n)? - answer Living Benefit
Question 6
The option that provides an additional death benefit for a limited amount of time at the
lowest possible cost is called a(n)? - answer Accidental death and Dismemberment
rider (AD&D)
Question 7
K pays on a $20,000 20 year endowment policy for 10 year and dies from an
automobile accident. How much will the insurance company pay the beneficiary? -
answer$20,000 death benefit
Question 8
Which of the following statement about accumulated interest earned on dividends from
an insurance policy is True? - answer It is taxed as ordinary income
Question 9
Which of the following statement is correct about accelerated death benefits? - answer
Must have a terminal illness to qualify
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 Dreamer252. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67163 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now