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WV STATE LIFE INSURANCE EXAM 2024 ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 400 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+$16.99
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WV STATE LIFE INSURANCE EXAM 2024 ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 400 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+
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Course
WV STATE LIFE INSURANCE 2024
Institution
WV STATE LIFE INSURANCE 2024
WV STATE LIFE INSURANCE EXAM 2024
ACTUAL EXAM 2 VERSIONS (VERSION A
AND B) COMPLETE 400 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100%
CORRECT ANSWERS) /ALREADY
GRADED A+
WV STATE LIFE INSURANCE EXAM 2024
ACTUAL EXAM 2 VERSIONS (VERSION A
AND B) COMPLETE 400 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100%
CORRECT ANSWERS) /ALREADY
GRADED A+
VERSION A
A primary beneficiary has died before the insured in
a life insurance policy. A contingent beneficiary is
also named in the policy. Which of the following will
occur when the insured dies? -
....ANSWER...Proceeds will go to the contingent
beneficiary
On a life insurance policy, who is qualified to change
the beneficiary designation? - ....ANSWER...policy
owner
,Which settlement option pays a stated amount to an
annuitant, but no residual value to a beneficiary? -
....ANSWER...life income
P and Q are married and have three children. P is
the primary beneficiary on Q's Accidental Death and
Dismemberment (AD&D) policy and Q's sister R is
the contingent beneficiary. P, Q, and R are involved in
a car accident and Q and R are killed instantly. The
Accidental Death benefits will be paid to -
....ANSWER...P only
P completes an application for a $10,000 life policy,
but does not give the producer the initial premium.
P's coverage becomes effective when: -
....ANSWER...P receives the policy and pays the
premium
J would like to maintain the right to change
beneficiaries. Which beneficiary designation should
be used? - ....ANSWER...Revocable
The reason for backdating a policy is -
....ANSWER...to obtain a premium rate based on an
earlier age
,Which type of life insurance beneficiary requires
his/her consent when a change of beneficiary is
attempted by the policy owner? -
....ANSWER...Irrevocable beneficiary
An insurance company may NOT reject a prospective
insured's life application on the basis of which the
following factors? - ....ANSWER...Gender
In order for coverage on a non-medical insurance
application to take effect the same day, the producer
must collect a signed application and -
....ANSWER...the initial premium
What is the underlying concept regarding level
premiums? - ....ANSWER...The early years are
charged more than what is needed
Before a life insurance policy is issued, which of
these components of the contract is required? -
....ANSWER...Applicant's signature on application
, An applicant's medical information received from the
Medical Information Bureau (MIB) may be furnished
to the: - ....ANSWER...applicant's physician
P is a producer who notices 5 questions on a life
application were not answered. What actions should
P take? - ....ANSWER...Set up a meeting with the
applicant to answer the remaining questions
When an insurance application is taken by a
producer, which of these statements is true? -
....ANSWER...Any changes made on the application
require the applicant's initials
___________ ___________ insurance is life or health
insurance offered through direct-response
solicitation by a sponsoring organization -
....ANSWER...Mass marketed
A(n) ________ insurance company is one formed in a
country other than the United States -
....ANSWER...Alien
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