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LIFE INSURANCE EXAM 90 QUESTIONS AND ANSWERS (100% PASS)
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LIFE INSURANCE EXAM 90 QUESTIONS AND ANSWERS (100% PASS)
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©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AMLIFE INSURANCE EXAM 90 QUESTIONS AND
ANSWERS (100% PASS)
In general, what amount of personal life insurance premiums is deductible for federal
income tax purpose? - ✔️✔️None
in a life insurance policy, the promise by the insurer to pay certain benefits is the: -
✔️✔️Insuring clause
W applies for life insurance on W's five year old child and submits the initial annual
premium. The producer issues W a receipt and says that coverage will be effective
immediately if the application is approved, because no medical examination is required.
Which of the following types of receipts did the producer issue? - ✔️✔️Conditional
Which of the following annuities pays benefits based on units rather than specific dollar
amounts? - ✔️✔️A variable annuity
which of the following term policies guarantees the insured the right to continue term
coverage after expiration of the initial policy period? - ✔️✔️Renewable
An example of limited-pay life policy is - ✔️✔️Life Paid-up at Age 65
which of the following items requires that an insurance application state that an
investigative consumer report may be obtained on the prospective insured? - ✔️✔️Fair
Credit Reporting Act
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, ©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
A convertible term policy offers which of the following advantages? - ✔️✔️the insured
does not have to provide evidence of insurability when requesting an conversion.
An insurance company may charge a higher total premium to an insured who pays a
policy quarterly rather than annually because the quarterly payment results in: - ✔️✔️a
reduction in the company's interest earning and an increase in administrative expenses.
An underwriter's evaluation of information on a life insurance application is also known
as - ✔️✔️risk classification
A customer surrenders a recently issued whole life policy and requests proceeds be
made payable to an unrelated third party. This would be a red flag potential violation of
the: - ✔️✔️anti-money laundering rules
which of the following annuities ensures level income for the lifetime of two annuitants?
- ✔️✔️A joint and survivor annuity
which of the following statements is correct about the federal income tax law in relation
to $100,000 worth of group term life insurance coverage through an employer
sponsored plan - ✔️✔️an employer can deduct a premium for tax purposes only if the
employer is also the beneficiary of the insurance
Which of the following types of policies provides permanent protection at the lowest
annual premium? - ✔️✔️term
An immediate annuity will have: - ✔️✔️a Single Premium
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