PEARSON VUE COMPREHENSIVE EXAM PART 1 | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+

Admitted life insurance must pay interest, at a rate specified by life, on death benefits from the date of the insured's death, through how many days following the date the insurer receives the claim? a. 15 days b. 20 days c. 30 days d. 31 days Correct Answer: c. 30 days The policy loan amount cannot exceed the __________________. a. The cumulative premiums paid b. The loan balance c. Available cash surrender value d. The face amount of the policy Correct Answer: c. Available cash surrender value 2 The State's ______________ branch enforces the existing statues that have been in place. a. Executive b. Judicial c. Electoral d. Legislativec Correct Answer: c. Executive A(n)___________ plan calls for the business to purchase life insurance policies on each of the business owners. a. Cross Purchase b. Entity c. Group d. Credit Protection Correct Answer: b. Entity Which of the following is true about group life insurance death benefits? a. If a person dies during the conversion period and no premium has been paid, no death benefit will be paid b. If no beneficiary is named on a policy, the death benefit will not pay for the burial expenses c. The death benefit is not liable to garnishment or debts without the insured's directive 3 d. A beneficiary of a group life policy must share the proceeds with a judgement from a judicial proceeding Correct Answer: c. The death benefit is not liable to garnishment or debts without the insured's directive