Practice Test MI Life Producer Exam Questions And Answers 100% Pass
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Course
MI Life Producer
Institution
MI Life Producer
Practice Test MI Life Producer Exam
Questions And Answers 100% Pass
Which of the following term insurance types provides temporary protection that can be changed
to some type of permanent protection without evidence of insurability? - answerConvertible
Which policy type is backed by equity inve...
Practice Test MI Life Producer Exam
Questions And Answers 100% Pass
Which of the following term insurance types provides temporary protection that can be changed
to some type of permanent protection without evidence of insurability? - answer✔Convertible
Which policy type is backed by equity investments and allows the policyholder to adjust the
death benefit? - answer✔variable universal life
which of the following lists the three common types of permanent individual life insurance? -
answer✔Variable Life, whole Life, Universal Life
Which of the following is common in an increasing term life policy - answer✔It begins with
little or no insurance protection **
While whole life policy premium type is the mot common? - answer✔Continuous premium
Which of the following is TRUE of the limited pay whole life policy? - answer✔Coverage
continues after the policy is paid-up
Which annuity settlement option provides a stated monthly amount to the annuitant and upon the
annuitant's death the same or lesser amount paid for the lifetime of the survivor? - answer✔Joint
and survivorship option
Which of the following is TRUE of the equity-indexed annuity? - answer✔It has a guaranteed
minimum interest rate **
In a level term life policy, which ALWAYS remains constant? - answer✔death benefit **
Current assumption whole life policies are sensitive to which of the following? -
answer✔Interest rates **
Which of the following is TRUE for a flexible premium annuity? - answer✔The purchaser has
the option to vary the amount of each premium payment falling between a minimum and
maximum amount
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