Life Insurance Bundled Exams Questions and Answers (Multiple Versions with Certified Solutions)

Life Insurance Latest 2023 with Complete Solutions Traditional Whole Life Products Ordinary straight life Limited-Pay Single-Premium Life Adjustable Life Straight Life basic policy that charges a level annual premium for the lifetime of the insured and provides a level, guaranteed benefit Limited-...

Life insurance exam questions and answers rated A+ life insurance insurance that pays to a named beneficiary or the deceased's estate upon the death of the insured,may b annuity or endowment, may incl benef for accident death/dismemberment, disability, protects against risk pf premature death which...

Life Insurance Exam Questions and Answers Already Passed J has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? A: The insurer ...

Life insurance - practice test questions with complete solutions A special characteristic of insurance contract where equal value is not exchanged between parties is known as: Aleatory Life insurance contracts are ___ agreements Unilateral What is the proper definition of "take it or leave it" ...

Life Insurance Exam Prep Questions and Answers Rated A+ Primary purpose for a rating service company such as A.M best? To determine financial strength of an insurance company Primary reason for buying life insurance? Provide death benefits What is described as an insurers ability to make unpredict...

Life & Health Insurance Exam Prep (2023/2024) Already Graded A Basic Medical Expense policies Provide coverage for Hospital, Surgical and Physicians Medical Expense. -Purchased as a individual or group policy. -provide first dollar coverage (no deductibles). -limited benefit periods and low coverage...

Life Insurance Exam (2023/2024) 100% Pass At what point must a life insurance applicant be informed of their rights to fall under the Fair Credit Reporting Act? Upon completion of the application Who elects the governing body of a mutual insurance company? Policyholders An insurance applicant MUS...

Life Insurance Practice Exam Questions and Answers Already Graded A The ownership provision entities the policy owner to do all of the following EXCEPT a) Assign the policy. b) Designate a beneficiary. c) Set premium rates. d) Receive a policy loan. c) Set premium rates. The insurer sets premiu...

Life Insurance Terms Latest Update 100% Correct Accelerated benefits rider may be added to a life insurance policy that permits the policy owner to "accelerate" or receive a certain percentage of the death benefit while the insured is still alive when he or she has been diagnosed with a terminal i...

Life Insurance Producer/Agent Practice Exam Questions and Answers Graded A Life insurance helps meet estate planning objectives because it is: a liquid asset at death Which one of the following statements about a life insurance policy rider regarding waiver of premiums and disability income is true...

Life Insurance License Exam Latest 2023 Graded A Accelerated Benefits Riders attached to life insurance policies that allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits A policy rider that states that the cause of death will be analyzed to dete...

Life Insurance Final Exam Questions and Answers Already Passed A person who is in good health and does not drink nor smoke is considered a preferred risk Upon death of an annuitant during the accumulation period of a deferred annuity, the proceeds: Are taxable to the beneficiary above the annuitant...

Life Insurance chapter 4 2023/2024 Rated A term insurance temporary, only provides coverage for a specific period of time pure life insurance is also known as term life insurance tem policies provide the greatest amount of coverage for the lowest amount of premium pure death protection if the ins...

Life insurance questions for exam with complete solutions A nonparticipating whole life insurance policy was surrendered for its $20,000 cash value. The total premiums paid had totaled $16,000. What were the federal income tax consequences to the policyowner on receipt of the cash value? $16,000 wa...