PEARSON VUE LIFE INSURANCE EXAM
2024-2025 LATEST ACTUAL EXAM
QUESTIONS AND DETAILED CORRECT
ANSWERS | A+ GRADE STUDY GUIDE
A policyowner names his wife as the primary beneficiary of
his Universal Life policy on a revocable basis. He also
names his three children as his secondary beneficiaries
and his estate as his tertiary beneficiary. If the
policyowner's wife predeceases him, and then he dies,
who will receive the policy proceeds?
A.The children
B.The policyowner's estate
C.The primary beneficiary's estate
D.The tertiary beneficiary Correct Answer A
The Waiver of Premium provision of a life policy allows the
insurer to take which of the following actions?
A.Waive an insured's premiums if the insured becomes
totally disabled before a certain age
B.Waive an insured's premiums if the insured becomes
partially disabled for a minimum time
,C.Increase an insured's coverage at an attained age
without imposing a premium increase
D.Reduce an insured's premiums if the insured pays them
annually instead of monthly Correct Answer A
Under the Social Security Retirement Benefits, all of the
following factors will influence how much a retiring
individual will receive as a monthly income benefit
EXCEPT the individual's:
A.age
B."primary insurance amount"
C."fully insured" or "currently insured" status
D.sex Correct Answer D
The PRIMARY purpose of an inspection report is to
assess an applicant's:
A.credit rating
B.personal characteristics
C.job performance
D.health profile Correct Answer B
,If a policy contains a Guaranteed Insurability rider, the
insured has the right to purchase:
A.additional coverage when the insured reaches
retirement age
B.additional coverage whenever the insured changes jobs
C.additional coverage at specified ages
D.coverage on the insured's children within thirty-one days
after they are born Correct Answer C
Which of the following statements is NOT correct about
representations?
A.They can be a part of the contract.
B.They are true in every respect.
C.They are assumed to be accurate.
D.They influence the insurer's acceptance of the risk.
Correct Answer B
If an Adjustable Life policyowner makes an additional
premium payment, the policy may be affected in all of the
following ways EXCEPT the:
A.premium paying period may decrease
B.value of the Nonforfeiture Options may decrease
, C.face amount may increase
D.length of coverage may increase Correct Answer B
An insured owns a $10,000 policy with a $4,000 cash
value and a 6 percent interest rate. On January 1, the
insured borrows $500 and pays one year's interest in
advance. During the year, the insured does not repay any
part of the loan or interest. If the insured dies on
December 31, the beneficiary will be entitled to a
MAXIMUM of:
A.$3,500
B.$6,000
C.$9,470
D.$9,500 Correct Answer D
Which of the following retirement plans is tax-qualified?
A.Key-person
B.Defined contribution
C.Section 457 deferred compensation
D.Split dollar life insurance Correct Answer B
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