AZ
Life
/
Insurance
/
Exam
/
Prep
/
Study
/
Guide
/
Questions With Correct Answers
/ / / /
A
/Contingent
/Beneficiary
/has
/the
/__________
/right /to /collect /an /Insured's /death /benefit. /- /verified /answer(s)-✔✔-
Secondary
What /does /the /Producer /Licensing /Model /Act /(PLMA) /provide?
-A /uniform /set /of /insurance /regulations /
-Disability /income
-A /double /payout
-Private /Life /Maturity /Assets /- /verified /answer(s)-✔✔-
A /uniform /set /of /insurance /regulations
,All
/but
/which /of /the /following /are /true /about /Whole /life /insurance /policies?
-They /are /a /traditional /type /of /life /insurance /policy
-They /are /more /restrictive /than /adjustable /policies /
-They /are /known /for /their /very /flexible /payment /terms
-Each /premium /payment /is /the /same /
-It /is /not /easy /to /change /the /face /amount /- /verified /answer(s)-✔✔-
They /are /known /for /their /very /flexible /payment /terms
A
/life
/insurance
/Policy
/is
/a(n)
/__________________
/that
/requires
/the
/Insurer
/to
/pay /the /Death /Benefit /of /the /policy /to /the /policy /Beneficiary /when /the
/insured /dies. /
-Annuity
-Underwriting /
-Promise
-Contract /- /verified /answer(s)-✔✔-Contract
,Rachel
/is
/the
/Beneficiary
/of /
a
/life
/insurance
/policy.
/The
/insured
/has
/passed
/away.
/She
/reviews
/the
/various
/payout
/settlement
/options.
/Rachel
/chooses
/the
/option
/that
/operates /like /an /annuity. /What /option /did /she /choose /for /the /payout?
-Periodic /annuitized /payout
-Fixed /period /installments
-Fixed /amount /installments
-Life /Income /- /verified /answer(s)-✔✔-Life /Income
Aaron
/wants
/to
, /buy
/an
/insurance
/policy
/and
/serve
/as
/the
/Beneficiary
/in
/the
/event
/that
/his
/daughter
/Cheryl /passes /away. /What /type /of /policy /will /Aaron /purchase?
-First-party /policy
-Third-party /policy
-Second-party /policy /
-Indirect /policy
-None /of /the /above /- /verified /answer(s)-✔✔-Third-party /policy
The
/premium /for /a /Whole /life /policy /is /usually /________________ /the /premium
/of /a /Term /life /policy:
-Less /than
-The /same /as /
-Greater /than /
-Half /the /cost /of /
-One-third /of /- /verified /answer(s)-✔✔-Greater /than
Life
/
Insurance
/
Exam
/
Prep
/
Study
/
Guide
/
Questions With Correct Answers
/ / / /
A
/Contingent
/Beneficiary
/has
/the
/__________
/right /to /collect /an /Insured's /death /benefit. /- /verified /answer(s)-✔✔-
Secondary
What /does /the /Producer /Licensing /Model /Act /(PLMA) /provide?
-A /uniform /set /of /insurance /regulations /
-Disability /income
-A /double /payout
-Private /Life /Maturity /Assets /- /verified /answer(s)-✔✔-
A /uniform /set /of /insurance /regulations
,All
/but
/which /of /the /following /are /true /about /Whole /life /insurance /policies?
-They /are /a /traditional /type /of /life /insurance /policy
-They /are /more /restrictive /than /adjustable /policies /
-They /are /known /for /their /very /flexible /payment /terms
-Each /premium /payment /is /the /same /
-It /is /not /easy /to /change /the /face /amount /- /verified /answer(s)-✔✔-
They /are /known /for /their /very /flexible /payment /terms
A
/life
/insurance
/Policy
/is
/a(n)
/__________________
/that
/requires
/the
/Insurer
/to
/pay /the /Death /Benefit /of /the /policy /to /the /policy /Beneficiary /when /the
/insured /dies. /
-Annuity
-Underwriting /
-Promise
-Contract /- /verified /answer(s)-✔✔-Contract
,Rachel
/is
/the
/Beneficiary
/of /
a
/life
/insurance
/policy.
/The
/insured
/has
/passed
/away.
/She
/reviews
/the
/various
/payout
/settlement
/options.
/Rachel
/chooses
/the
/option
/that
/operates /like /an /annuity. /What /option /did /she /choose /for /the /payout?
-Periodic /annuitized /payout
-Fixed /period /installments
-Fixed /amount /installments
-Life /Income /- /verified /answer(s)-✔✔-Life /Income
Aaron
/wants
/to
, /buy
/an
/insurance
/policy
/and
/serve
/as
/the
/Beneficiary
/in
/the
/event
/that
/his
/daughter
/Cheryl /passes /away. /What /type /of /policy /will /Aaron /purchase?
-First-party /policy
-Third-party /policy
-Second-party /policy /
-Indirect /policy
-None /of /the /above /- /verified /answer(s)-✔✔-Third-party /policy
The
/premium /for /a /Whole /life /policy /is /usually /________________ /the /premium
/of /a /Term /life /policy:
-Less /than
-The /same /as /
-Greater /than /
-Half /the /cost /of /
-One-third /of /- /verified /answer(s)-✔✔-Greater /than
