WV STATE LIFE INSURANCE
COMPREHENSIVE STUDY GUIDE 2026
QUESTIONS WITH CORRECT SOLUTIONS
GRADED A+
◉a. Answer: Which of these is an element of a Variable Life policy?
-A fixed, level premium
-Insurer assumes the investment risk
-No investment risk to the policyowner
-Bate of returns are guaranteed
◉b. Answer: What kind of life insurance policy pays a specified
monthly income to a beneficiary for 30 years and then pays a lump
sum benefit at the end of that 30 years?
-Family Lump Sum Policy
-Family Maintenance Policy
-Family Survivor Policy
-Family Income Policy
, ◉b. Answer: What type of policy would offer a 40-year old the
quickest accumulation of cash value?
-Paid-up at 65
-20-pay life
-30-pay life
-Straight whole life
◉b. Answer: Credit life insurance is typically issued with which of
the following types of coverage?
-Annual Renewable Term
-Decreasing Term
-Individual Whole Life
-Group Term
◉d. Answer: A term life insurance policy matures:
-upon endowment of the contract
-upon death of the insured
-when the cash value equals the death benefit
-upon the insured's death during the term of the policy
COMPREHENSIVE STUDY GUIDE 2026
QUESTIONS WITH CORRECT SOLUTIONS
GRADED A+
◉a. Answer: Which of these is an element of a Variable Life policy?
-A fixed, level premium
-Insurer assumes the investment risk
-No investment risk to the policyowner
-Bate of returns are guaranteed
◉b. Answer: What kind of life insurance policy pays a specified
monthly income to a beneficiary for 30 years and then pays a lump
sum benefit at the end of that 30 years?
-Family Lump Sum Policy
-Family Maintenance Policy
-Family Survivor Policy
-Family Income Policy
, ◉b. Answer: What type of policy would offer a 40-year old the
quickest accumulation of cash value?
-Paid-up at 65
-20-pay life
-30-pay life
-Straight whole life
◉b. Answer: Credit life insurance is typically issued with which of
the following types of coverage?
-Annual Renewable Term
-Decreasing Term
-Individual Whole Life
-Group Term
◉d. Answer: A term life insurance policy matures:
-upon endowment of the contract
-upon death of the insured
-when the cash value equals the death benefit
-upon the insured's death during the term of the policy
