2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!
Massachusetts Life Questions and Correct
Answers | Latest Update
Accelerated Benefits
✓ -:- Riders attached to life insurance policies that allow death benefits to
be used to cover nursing or convalescent home expenses.
Accidental Death Benefits
✓ -:- A policy rider that states that the cause of death will be analyzed to
determine if it complies with the policy description of accidental death.
Accidental Death Insurance
✓ -:- An insurance policy that provides payment if the insured's death is
the result of an accident.
Accumulation Period
✓ -:- The time before an annuitant's retirement during which the
annuitant is making payments or investments in an annuity.
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,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!
AIDS
✓ -:- An infections and incurable disease caused by HIV
Actual Cash Value
✓ -:- The required amount to pay damages or for property loss. This
amount is calculated based on the property's current replacement value
minus depreciation.
Adhesion
✓ -:- A contract offered on a "take-it-or-leave-it" basis by an insurer, in
which the insured's only option is to either accept or reject the contract.
Any ambiguities in the contract will be settled in favor of the insured.
Adjustable Life
✓ -:- Life insurance that permits changes in the face amount, premium
amount, period of protection, and the duration of the pre mium payment
period.
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,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!
Adjuster
✓ -:- A representative of an insurance company who investigates and acts
on the behalf of the company to obtain agreements for the amount of the
insurance claim.
Administrator
✓ -:- An individual appointed by a court as a fiduciary to settle the
financial affairs and estate of a deceased person.
Admitted Insurer
✓ -:- An insurance company authorized and licensed to transact business
in a particular state.
Adult Day Care
✓ -:- A program for impaired adults that attempts to meet their health,
social, and functional needs in a setting away from their homes.
Adverse Selection
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, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!
✓ -:- The tendency of risks with higher probability of loss to purchase and
maintain insurance more often than the risks who present lower
probability.
Agency
✓ -:- An insurance sales office or company.
Agent
✓ -:- An individual who is licensed to sell, negotiate, or effect insurance
contracts on behalf of the insurer.
Agent's Authority
✓ -:- Special powers granted to an agent by his or her agency contract.
Aleatory
✓ -:- A contract in which participating parties exchange unequal amounts.
Insurance contracts are aleatory in that the amount the insured will pay
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Massachusetts Life Questions and Correct
Answers | Latest Update
Accelerated Benefits
✓ -:- Riders attached to life insurance policies that allow death benefits to
be used to cover nursing or convalescent home expenses.
Accidental Death Benefits
✓ -:- A policy rider that states that the cause of death will be analyzed to
determine if it complies with the policy description of accidental death.
Accidental Death Insurance
✓ -:- An insurance policy that provides payment if the insured's death is
the result of an accident.
Accumulation Period
✓ -:- The time before an annuitant's retirement during which the
annuitant is making payments or investments in an annuity.
1|P a g e | G r a d e A + | 2 0 2 0 2 5
,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!
AIDS
✓ -:- An infections and incurable disease caused by HIV
Actual Cash Value
✓ -:- The required amount to pay damages or for property loss. This
amount is calculated based on the property's current replacement value
minus depreciation.
Adhesion
✓ -:- A contract offered on a "take-it-or-leave-it" basis by an insurer, in
which the insured's only option is to either accept or reject the contract.
Any ambiguities in the contract will be settled in favor of the insured.
Adjustable Life
✓ -:- Life insurance that permits changes in the face amount, premium
amount, period of protection, and the duration of the pre mium payment
period.
2|P a g e | G r a d e A + | 2 0 2 0 2 5
,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!
Adjuster
✓ -:- A representative of an insurance company who investigates and acts
on the behalf of the company to obtain agreements for the amount of the
insurance claim.
Administrator
✓ -:- An individual appointed by a court as a fiduciary to settle the
financial affairs and estate of a deceased person.
Admitted Insurer
✓ -:- An insurance company authorized and licensed to transact business
in a particular state.
Adult Day Care
✓ -:- A program for impaired adults that attempts to meet their health,
social, and functional needs in a setting away from their homes.
Adverse Selection
3|P a g e | G r a d e A + | 2 0 2 0 2 5
, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!
✓ -:- The tendency of risks with higher probability of loss to purchase and
maintain insurance more often than the risks who present lower
probability.
Agency
✓ -:- An insurance sales office or company.
Agent
✓ -:- An individual who is licensed to sell, negotiate, or effect insurance
contracts on behalf of the insurer.
Agent's Authority
✓ -:- Special powers granted to an agent by his or her agency contract.
Aleatory
✓ -:- A contract in which participating parties exchange unequal amounts.
Insurance contracts are aleatory in that the amount the insured will pay
4|P a g e | G r a d e A + | 2 0 2 0 2 5
