WEBCE EXAM TUTOR 2026/2027 ACTUAL
QUESTIONS WITH VERIFIED ANSWERS.
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Match Blocks Charms NEW
Terms in this set (397)
All of the following are eligible to Stan and his neighbors are not eligible to purchase
purchase a group life insurance group life insurance because a group cannot be
policy EXCEPT: formed solely to obtain life insurance
the Wonderful Widget Company,
which employs more than 200 people
the State Electrical Workers Union
the Retailers Multiple Employer Trust,
formed by two retailers to purchase
insurance for their employees
Stan and his neighbors, who form
their own group to buy group
coverage at a lower cost than their
individual coverages
,With respect to the difference Variable life policies require a fixed premium
between variable life insurance (VLI) payable for the life of the policy while variable
and variable universal life insurance universal life permits premium flexibility
(VUL), which of the following
statements is correct?
Variable life policies require a fixed
premium payable for the life of the
policy while variable universal life
permits premium flexibility.
Only variable life policies allow the
policyowner to put funds in
investment subaccounts.
Only variable universal life policies
offer a minimum death benefit.
Only variable universal life is a
securities product.
Jessica, age 25, buys a $100,00 life graded premium whole life
insurance policy. The initial premium is
lower than straight whole life rates
and increases each year for the first
ten years of the policy period. After
that, the premium levels off and
remains at that amount for the life of
the policy. What type of policy does
Jessica own?
indeterminate premium whole life
single premium life
graded premium whole life
20-pay life
,Which statement about modified It does not build a cash value
premium whole life insurance is NOT
correct?
It does not build cash value.
It charges lower premiums in the
early policy years.
At the end of the initial period, the
premium increases and stays at the
new level for the life of the policy.
It is good for people who want the
guarantees of whole life insurance
and lower early premiums.
A life insurance policy matures or well before age 120, usually at age 65
endows when its guaranteed cash
value equals its face amount. With an
endowment contract, when does the
policy endow?
when the insured dies
at age 120
after age 120
well before age 120, usually at age 65
A type of permanent life insurance universal life insurance
that lets the policyowner increase,
reduce or even skip premium
payments at will without the policy
lapsing best describes:
variable life insurance
universal life insurance
adjustable life insurance
modified premium whole life
insurance
, Variable universal life combines both are considered securities products as well ass
features of variable life and universal life insurance
life. Variable universal life and
universal life are alike in all the
following ways EXCEPT:
The premium payments for both are
flexible.
Both types of policies let the
policyowner choose a death benefit
from two (or sometimes three)
options.
For both policies, the insurer deducts
insurance and expenses monthly from
the cash value.
Both are considered securities
products as well as life insurance.
All the following statements about a small cash value gradually accumulates while the
term life insurance are correct policy is in force
EXCEPT:
It offers protection for a specified,
limited period.
A small cash value gradually
accumulates while the policy is in
force.
Upon issue, it is generally less
expensive than permanent insurance
of comparable face amount.
It pays a benefit only if the insured
dies during the specified period.
QUESTIONS WITH VERIFIED ANSWERS.
Play your way to mastery with fun games
Match Blocks Charms NEW
Terms in this set (397)
All of the following are eligible to Stan and his neighbors are not eligible to purchase
purchase a group life insurance group life insurance because a group cannot be
policy EXCEPT: formed solely to obtain life insurance
the Wonderful Widget Company,
which employs more than 200 people
the State Electrical Workers Union
the Retailers Multiple Employer Trust,
formed by two retailers to purchase
insurance for their employees
Stan and his neighbors, who form
their own group to buy group
coverage at a lower cost than their
individual coverages
,With respect to the difference Variable life policies require a fixed premium
between variable life insurance (VLI) payable for the life of the policy while variable
and variable universal life insurance universal life permits premium flexibility
(VUL), which of the following
statements is correct?
Variable life policies require a fixed
premium payable for the life of the
policy while variable universal life
permits premium flexibility.
Only variable life policies allow the
policyowner to put funds in
investment subaccounts.
Only variable universal life policies
offer a minimum death benefit.
Only variable universal life is a
securities product.
Jessica, age 25, buys a $100,00 life graded premium whole life
insurance policy. The initial premium is
lower than straight whole life rates
and increases each year for the first
ten years of the policy period. After
that, the premium levels off and
remains at that amount for the life of
the policy. What type of policy does
Jessica own?
indeterminate premium whole life
single premium life
graded premium whole life
20-pay life
,Which statement about modified It does not build a cash value
premium whole life insurance is NOT
correct?
It does not build cash value.
It charges lower premiums in the
early policy years.
At the end of the initial period, the
premium increases and stays at the
new level for the life of the policy.
It is good for people who want the
guarantees of whole life insurance
and lower early premiums.
A life insurance policy matures or well before age 120, usually at age 65
endows when its guaranteed cash
value equals its face amount. With an
endowment contract, when does the
policy endow?
when the insured dies
at age 120
after age 120
well before age 120, usually at age 65
A type of permanent life insurance universal life insurance
that lets the policyowner increase,
reduce or even skip premium
payments at will without the policy
lapsing best describes:
variable life insurance
universal life insurance
adjustable life insurance
modified premium whole life
insurance
, Variable universal life combines both are considered securities products as well ass
features of variable life and universal life insurance
life. Variable universal life and
universal life are alike in all the
following ways EXCEPT:
The premium payments for both are
flexible.
Both types of policies let the
policyowner choose a death benefit
from two (or sometimes three)
options.
For both policies, the insurer deducts
insurance and expenses monthly from
the cash value.
Both are considered securities
products as well as life insurance.
All the following statements about a small cash value gradually accumulates while the
term life insurance are correct policy is in force
EXCEPT:
It offers protection for a specified,
limited period.
A small cash value gradually
accumulates while the policy is in
force.
Upon issue, it is generally less
expensive than permanent insurance
of comparable face amount.
It pays a benefit only if the insured
dies during the specified period.
