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XCEL Chapter 1 - Life Policies Exam Questions and Answers
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XCEL Chapter 1 - Life Policies Exam Questions and Answers
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XCEL Chapter 1 - Life Policies ExamQuestions and Answers
A life insurance policy that provides with cash value along with a level face amount is
called: - Answers -Whole Life
S is covered by whole life policy. Which insurance product can cover his children? -
Answers -Child Term Rider
Which policy requires an agent with the national Association of Securities Dealers
(NASD) before selling? - Answers -Variable Life
How does a typical Variable life policy investment account grow? - Answers -Through
mutual funds, stocks, bonds.
What type of life policy covers 2 lives and pays the face amount after the first one dies?
- Answers -Joint life policy
How does a typical Varible life Policy investment account grow? - Answers -Through
mutual funds, bonds, stocks
Jay is 35 years old and looking to purchase a whole life insurance policy. Which of the
following type of policies will provide the most rapid growth of cash value? - Answers -
20 Pay Life
Which types of these policies may NOT have the Automatic Premium loan provision
attached to it? - Answers -Decreasing Term
A life policy with a death benefit that can flucuate according to the performance of its
underlining investment portfolio is referred to as: - Answers -Variable Life
Which types of policies pays a benefit if the insured goes blind? - Answers -AD&D
What kind of special need would a policy holder require with an adjustable life insurance
policy? - Answers -Flexible Premiums
Which of these types of life insurance allows the policy owner to have level premiums
and to also choose from a selection of investment options? - Answers -Varible life
A Whole life Insurance Policy endows when the: - Answers -Cash Value equals the
death benefit
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