Loma 281 - Study guides, Class notes & Summaries

LOMA 281 Module 2 Exam with correct Answers

LOMA 281 Module 3 Exam with correct Answers

LOMA 281 Module 3 Exam Questions and Answers All Correct Ms. Yanar wants to receive annuity income for life. She also wants to be sure that the annuity makes payments for at least 10 years. If she dies before the end of 10 years, her beneficiary will receive the remaining payments. a. Joint and survivor annuity b. Life income annuity with period certain c. Life income annuity with refund - Answer-B. Ms. Yanar wants to be sure that all of the money paid for the annuity will be paid to...

LOMA 281 Module 2 QUESTIONS AND ANSWERS

LOMA 281 Module 2 Exam with Complete Solutions Graded A+ The type of annuity contract under which the insurer guarantees at least a minimum interest rate and a payment amount that won't change is known as a a. Variable annuity b. Fixed annuity - Answer-B. Premiums paid for a variable annuity typically are placed in the insurer's a. General account b. Separate account - Answer-B. In this exercise, you will match each variable annuity contract feature with its name. Guarantees ...

LOMA 281 MODULE 3 QUESTIONS AND ANSWERS

LOMA 281 Meeting Customer Needs with Insurance Annuities Exam

LOMA 281 Practice Test with Complete Solutions Graded A+ Premium reduction dividend option - Answer-A policy dividend option under which the insurer applies policy dividends toward the payment of renewal premiums Policy loan repayment dividend option - Answer-A policy dividend option under which the insurer applies policy dividends toward the repayment of an outstanding policy loan Accumulation at interest dividend option - Answer-A policy dividend option under which the policy divide...

LOMA 281 Module 2 Latest Version Graded A+ Term Life insurance Insurance that provides a policy benefit if the insured dies during a specified period of time. Policy term The specified period of time for which a term life insurance policy provides coverage. Level Term life insurance A plan of term life insurance that provides a policy benefit that remains the same over the term of coverage. Decreasing term life insurance A plan of term life insurance that provides a policy bene...