EXAMFX LIFE AND HEALTH EXAM NEWEST 2024-
2025 ACTUAL EXAM COMPLETE 300 QUESTIONS
AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY
Terms in this set (100)
1. What is the maximum 3. $10,000
civil penalty for violating
the Superintendent's
cease and desist order?
(Choose from the
following options)
1. $1,000
2. $5,000
3. $10,000
4. $15,000
,2. Which option is being 1. Paid-up additions
utilized when the insurer
accumulates dividends at
interest and then uses the
accumulated dividends,
plus interest, and the
policy cash value to pay
the policy up early?
(Choose from the
following options)
1. Paid-up additions
2. Dividend Accumulation
option
3. Paid-up option
4. Accumulation at Interest
3. An insured owns a $50,000
$50,000 whole life policy.
At age 47, the insured The face of the term policy would be the same as the
decides to cancel his face amount provided under the whole life policy.
policy and exercise the
extended term option for
the policy's cash value,
which is currently $20,000.
What would be the face
amount of the new term
policy?
(Choose from the
following options)
1. $20,000
2. $25,000
3. $50,000
4. The face amount will be
determined by the insurer.
,4. After a back injury, an Monthly premium waiver and monthly income
insured is disabled for a
year. His insurance policy
carries a Disability Income The Disability Income Benefit rider waives the policy
Benefit rider. Which of the premiums, just like the Waiver of Premium rider. Unlike
following benefits will he the Waiver of Premium rider, it also allows the insured
receive? to receive a weekly or monthly income during the
disability period.
(Choose from the
following options)
1. Payments for life
2. Yearly premium waiver
and income
3. Monthly premium
waiver and monthly
income
4. Percentage of medical
costs paid by the insurer
, 5. A father owns a life d) The insured's premiums will be waived until she is
insurance policy on his 15- 21.
year-old daughter. The
policy contains the If the payor (usually a parent or guardian) becomes
optional Payor Benefit disabled for at least 6 months or dies, the insurer will
rider. If the father waive the premiums until the minor reaches a certain
becomes disabled, what age, such as 21.
will happen to the life
insurance premiums?
(Choose from the
following options)
1. The premiums will
become tax deductible
until the insured's 18th
birthday.
2. Since it is the
policyowner, and not the
insured, who has become
disabled, the life insurance
policy will not be affected.
3. The insured will have to
pay premiums for 6
months. If at the end of
this period the father is
still disabled, the insured
will be refunded the
premiums.
4. The insured's premiums
will be waived until she is
21.
2025 ACTUAL EXAM COMPLETE 300 QUESTIONS
AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY
Terms in this set (100)
1. What is the maximum 3. $10,000
civil penalty for violating
the Superintendent's
cease and desist order?
(Choose from the
following options)
1. $1,000
2. $5,000
3. $10,000
4. $15,000
,2. Which option is being 1. Paid-up additions
utilized when the insurer
accumulates dividends at
interest and then uses the
accumulated dividends,
plus interest, and the
policy cash value to pay
the policy up early?
(Choose from the
following options)
1. Paid-up additions
2. Dividend Accumulation
option
3. Paid-up option
4. Accumulation at Interest
3. An insured owns a $50,000
$50,000 whole life policy.
At age 47, the insured The face of the term policy would be the same as the
decides to cancel his face amount provided under the whole life policy.
policy and exercise the
extended term option for
the policy's cash value,
which is currently $20,000.
What would be the face
amount of the new term
policy?
(Choose from the
following options)
1. $20,000
2. $25,000
3. $50,000
4. The face amount will be
determined by the insurer.
,4. After a back injury, an Monthly premium waiver and monthly income
insured is disabled for a
year. His insurance policy
carries a Disability Income The Disability Income Benefit rider waives the policy
Benefit rider. Which of the premiums, just like the Waiver of Premium rider. Unlike
following benefits will he the Waiver of Premium rider, it also allows the insured
receive? to receive a weekly or monthly income during the
disability period.
(Choose from the
following options)
1. Payments for life
2. Yearly premium waiver
and income
3. Monthly premium
waiver and monthly
income
4. Percentage of medical
costs paid by the insurer
, 5. A father owns a life d) The insured's premiums will be waived until she is
insurance policy on his 15- 21.
year-old daughter. The
policy contains the If the payor (usually a parent or guardian) becomes
optional Payor Benefit disabled for at least 6 months or dies, the insurer will
rider. If the father waive the premiums until the minor reaches a certain
becomes disabled, what age, such as 21.
will happen to the life
insurance premiums?
(Choose from the
following options)
1. The premiums will
become tax deductible
until the insured's 18th
birthday.
2. Since it is the
policyowner, and not the
insured, who has become
disabled, the life insurance
policy will not be affected.
3. The insured will have to
pay premiums for 6
months. If at the end of
this period the father is
still disabled, the insured
will be refunded the
premiums.
4. The insured's premiums
will be waived until she is
21.
