Beneficiary Study guides, Class notes & Summaries
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PSI LIFE INSURANCE EXAM LATEST REAL EXAM QUESTIONS AND CORRECT ANSWERS | A-GRADE 2023/24
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PSI LIFE INSURANCE EXAM 
 
which of the following occurs immediately after the application is submitted and the initial premium paid: 
A: the underwriting process begins 
B: the applicant's references are checked 
C: the beneficiaries are selected 
D: the insurance goes into effect 
Correct Answer: 
A: the underwriting process begins 
 
in a level term life policy, which ALWAYS remains constant: 
A: premium 
B: beneficiary 
C: death benefit 
D: maximum age of the insured 
Correct Answer: 
C: d...
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ARIZONA LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS
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a whole life policy that provides a choice of dividend options include the following statement about dividends 
 
they accrue at a guaranteed rate 
 
they are deferred for one year 
 
they are not guaranteed 
 
they are guaranteed after the first year - correct answer they are not guaranteed 
 
When there is a named beneficiary on a life insurance policy, the death benefits 
 
1. are directed to a trustee if the insured has any outstanding debts 
 
2. are paid directly to the insured`s credito...
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Life and Disability Producer Combo Practice Questions with Certified Answers
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Life and Disability Producer Combo 
Practice Questions with Certified 
 
Answers 
 
The premium payment mode that results in the highest overall cost would be Monthly 
 
A policyowner is prohibited from making any changes to the policy without the beneficiary's 
written consent under which beneficiary designation? Irrevocable beneficiary 
 
Over the course of a year, which premium payment mode is most expensive? Monthly 
 
Purchasing a life insurance policy in order to avoid the forced sale of ...
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ALABAMA INSURANCE TEST QUESTIONS & ANSWERS (100% CORRECT)
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ALABAMA INSURANCE TEST QUESTIONS & ANSWERS (100% CORRECT) 
ALABAMA INSURANCE TEST QUESTIONS & ANSWERS (100% CORRECT) 
 
Which welfare program provides assistance to the needy? - ANSWER - Medicaid 
 
Barbara has the right to change the beneficiary designation on her life insurance policy. Barbara's beneficiary is a(n): - ANSWER - revocable beneficiary 
 
Within how many calendar days must all clean electronic health insurance claims be paid in Alabama? - ANSWER - 30 
 
Which type of term policy ...
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DELAWARE LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS
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What is the benefit of choosing extended term as a nonforfeiture option? - correct answer It has the highest amount of insurance protection 
 
Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. What does this mean? - correct answer The beneficiary will only receive payments of the interest earned on the death benefit 
 
If a life insurance policy has an irrevocable beneficiary designation, - correct answer the beneficiary ...
Too much month left at the end of the money?
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Pearson Vue Life Insurance Practice Exam Questions and verified Answers
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Pearson Vue Life Insurance Practice Exam Questions and verified Answers 
P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: 
 
 
A contract that has as its basic function the systematic liquidation of accumulated assets through periodic payments is called an: 
 
 
An insurance producer takes an application for a life insurance policy but does not collect the initial premium. On d...
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Pearson Vue Life + Health Insurance Practice Exam Questions And Correct Answers
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Pearson Vue Life + Health Insurance Practice Exam Questions And Correct Answers 
 
P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: 
a: irrevocable beneficiary 
b: revocable beneficiary 
c: secondary beneficiary 
B 
A contract that has as its basic function the systematic liquidation of accumulated assets through periodic payments is called an: 
A. indemnity contract 
B. invest...
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214 FLORIDA INSURANCE LIFE AND VARIABLE ANNUITY ACTUAL EXAM UPDATED
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214 FLORIDA INSURANCE LIFE AND 
VARIABLE ANNUITY ACTUAL EXAM 
UPDATED 
variable annuity - CORRECT ANSWER-there is no guarantee of the dollar amount of 
the payments, they fluctuate according to the value of an account vest primarly in 
common stocks 
join and survivor annuity - CORRECT ANSWER-covers two or more lives and contiunes 
in force so long as any one of them survives 
period certain annuity - CORRECT ANSWER-annuity imcome option that guarantees a 
definite minimum peroid of paymen...
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South Carolina Insurance Exam 2024 with 100% correct answers
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An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? - correct answer Inflation protection 
 
Which of these riders will pay a death benefit if the insured's spouse dies? - correct answer Family term insurance rider 
 
Disability income plans which require that the insurer can NEVER change or alter premium rates are usually considered - correct answer Nonconcellable 
 
What is the required action to be taken by a South Carolina l...
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Louisiana Life, Health & Accident Insurance Series 103 Practice Exam | 90 Questions with 100% Correct Answers | Verified | Latest Update 2024
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Under which situation must insurable interest exist between the applicant and insured at the time of 
application? - When a third-party applicant names themselves beneficiary. 
Which of the following is true about a decreasing term life policy? - The face amount reaches zero at 
policy expiration. 
Which of the following occurs immediately after the application is submitted and the initial premium 
paid? - The underwriting process begins 
For an individual long-term care policy there is an annua...
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