State Farm Test Comprehensive
Questions (Frequently Tested) and
Complete Solutions Graded A+
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Policy assignment when assignee receives full control over the
policy and full rights to its benefits. - Answer: Absolute
Assignment
,Life insurance rider that allow for early payment of some portion
of policy's face amount, should the insured suffer from terminal
illness/injury. - Answer: Accelerated benefits rider
Contract must be accepted by the insured exactly as it is written
by the insurer. Terms of contract cannot be negotiated. Contract
is offered on a take it or leave it basis. - Answer: adhesion
An insurance company that has been approved to operate within
a given jurisdiction. - Answer: admitted insurer
Life insurance policy rider providing for payment of an additional
benefit when death occurs by accidental means. - Answer:
accidental death benefit rider
Policy allows the policymaker to adjust the policy's face amount,
premium, and type of protection without having to complete a
new application or any additional underwriting. - Answer:
adjustable life
Section of an insurance application where the agent, details
personal observations about the applicant. - Answer: agents
(producer) report
,A form of renewable term insurance that provides coverage for
one year and allows policyowner to renew coverage each year,
without evidence of insurability. - Answer: annually renewable
term (ART)
The insured believes the agent has authority to act based on
actions, words or deeds of the agent. Even though the agent may
not have been granted such authority by the insurer, they will be
held liable for the actions of the agent. - Answer: apparent
authority
Authorizes the insurer to automatically pay any premium in
default at the end of the grace period. The premium owed plus
interest charged is deducted from the policy's cash value. -
Answer: automatic premium loan provision
Person to whom the proceeds of a life or accident policy are
payable when the insured dies. - Answer: beneficiary
One to whom an annuity is payable, or a person upon the
continuance of whose life further payment depends. - Answer:
annuitant
, With reference to an insured, the current insurance age. - Answer:
attained age
The insurer will not pay a claim if the insured dies as a result of
flying an aircraft or acting as a member of a flight crew. In most
cases, the insurer will offer the applicant the opportunity to
purchase a rider offsetting the exclusion. - Answer: aviation
exclusion
A generic publication that explains life insurance in a way that an
average consumer can understand. It does not contain specific
product or policy information - Answer: buyers guide
Agreement that a deceased businessowner's interest will be sold
and purchased at a predetermined price or at a price according to
a predetermined formula. - Answer: Buy-sell agreement
Replacing one life contract with another within the same
company without demonstrating a benefit to the client. - Answer:
Churning
This policy provision provides an alternative beneficiary in the
event that the insured and the original beneficiary die as the
Questions (Frequently Tested) and
Complete Solutions Graded A+
Professional Academic Assistance Services
Services Offered
• Proctored Exam Assistance
• Online Class Management (Full Course Support)
• Exam Preparation & Study Materials
• Assignments and Coursework Support
• Essay and Research Paper Writing
• Discussion Posts & Responses
• Editing and Proofreading
• Confidential Academic Consultation
Contact Information
Email:
WhatsApp link: https://wa.me/254704846336
Fast Response | Confidential | Reliable Academic Support
Helping Students Achieve Academic Excellence
Policy assignment when assignee receives full control over the
policy and full rights to its benefits. - Answer: Absolute
Assignment
,Life insurance rider that allow for early payment of some portion
of policy's face amount, should the insured suffer from terminal
illness/injury. - Answer: Accelerated benefits rider
Contract must be accepted by the insured exactly as it is written
by the insurer. Terms of contract cannot be negotiated. Contract
is offered on a take it or leave it basis. - Answer: adhesion
An insurance company that has been approved to operate within
a given jurisdiction. - Answer: admitted insurer
Life insurance policy rider providing for payment of an additional
benefit when death occurs by accidental means. - Answer:
accidental death benefit rider
Policy allows the policymaker to adjust the policy's face amount,
premium, and type of protection without having to complete a
new application or any additional underwriting. - Answer:
adjustable life
Section of an insurance application where the agent, details
personal observations about the applicant. - Answer: agents
(producer) report
,A form of renewable term insurance that provides coverage for
one year and allows policyowner to renew coverage each year,
without evidence of insurability. - Answer: annually renewable
term (ART)
The insured believes the agent has authority to act based on
actions, words or deeds of the agent. Even though the agent may
not have been granted such authority by the insurer, they will be
held liable for the actions of the agent. - Answer: apparent
authority
Authorizes the insurer to automatically pay any premium in
default at the end of the grace period. The premium owed plus
interest charged is deducted from the policy's cash value. -
Answer: automatic premium loan provision
Person to whom the proceeds of a life or accident policy are
payable when the insured dies. - Answer: beneficiary
One to whom an annuity is payable, or a person upon the
continuance of whose life further payment depends. - Answer:
annuitant
, With reference to an insured, the current insurance age. - Answer:
attained age
The insurer will not pay a claim if the insured dies as a result of
flying an aircraft or acting as a member of a flight crew. In most
cases, the insurer will offer the applicant the opportunity to
purchase a rider offsetting the exclusion. - Answer: aviation
exclusion
A generic publication that explains life insurance in a way that an
average consumer can understand. It does not contain specific
product or policy information - Answer: buyers guide
Agreement that a deceased businessowner's interest will be sold
and purchased at a predetermined price or at a price according to
a predetermined formula. - Answer: Buy-sell agreement
Replacing one life contract with another within the same
company without demonstrating a benefit to the client. - Answer:
Churning
This policy provision provides an alternative beneficiary in the
event that the insured and the original beneficiary die as the
