Guide Newest Actual Questions &
_____________Quiz____________?
A special characteristic of insurance contract where equal value is not exchanged between
parties is known as: -
Answer✓✓
Aleatory
_____________Quiz____________?
Life insurance contracts are ___ agreements -
Answer✓✓
Unilateral
_____________Quiz____________?
What is the proper definition of "take it or leave it" contracts written by insurer? -
Answer✓✓
Adhesion
_____________Quiz____________?
using the human value approach, the best way to figure out the amount of death benefit is
based on?:
A. proposed insured's life span
B. proposed insured's retirement date
1
, C. proposed insured's health status
D. proposed insured's potential earnings -
Answer✓✓
D. proposed insured's potential earnings
_____________Quiz____________?
an insurer pays a refund from the surplus of profits to the holder of a participating policy.
what is this payment called?
A. unlawful rebate
B. dividend
C. annuity
D. not legal, as only stock companies pay dividends -
Answer✓✓
B. policy dividend
_____________Quiz____________?
the non-forfeiture provision that would give the insured the most amount of coverage
would be?
A. cash surrender value
B. extended term insurance
C. reduced paid up insurance
D. automatic premium loan -
Answer✓✓
B. extended term insurance
_____________Quiz____________?
if you choose the settlement option of receiving fixed monthly installments or fixed
amounts, you may receive an amount that is:
A. more than the face amount
B. less than the face amount
2
, C. the same as the face amount
D. none of the above -
Answer✓✓
A. more than the face amount.
_____________Quiz____________?
an individual, who wishes to provide a retirement income for himself that will also provide
retirement income for his wife in the event that he dies, should purchase which of the
following?
A. life annuity with period certain
B. a refundable life annuity
C. joint and survivor life annuity
D. immediate annuity -
Answer✓✓
C. joint and survivor life annuity
_____________Quiz____________?
a pure life annuity offers protection against the risk of:
A. death during the earning years
B. disability during the earning years
C. outliving one's income
D. death after the age of retirement -
Answer✓✓
C. outliving one's income
_____________Quiz____________?
a ____ is a product used to accumulate funds and later liquidate that amount?
A. industrial life policy
B. term life policy
3
_____________Quiz____________?
A special characteristic of insurance contract where equal value is not exchanged between
parties is known as: -
Answer✓✓
Aleatory
_____________Quiz____________?
Life insurance contracts are ___ agreements -
Answer✓✓
Unilateral
_____________Quiz____________?
What is the proper definition of "take it or leave it" contracts written by insurer? -
Answer✓✓
Adhesion
_____________Quiz____________?
using the human value approach, the best way to figure out the amount of death benefit is
based on?:
A. proposed insured's life span
B. proposed insured's retirement date
1
, C. proposed insured's health status
D. proposed insured's potential earnings -
Answer✓✓
D. proposed insured's potential earnings
_____________Quiz____________?
an insurer pays a refund from the surplus of profits to the holder of a participating policy.
what is this payment called?
A. unlawful rebate
B. dividend
C. annuity
D. not legal, as only stock companies pay dividends -
Answer✓✓
B. policy dividend
_____________Quiz____________?
the non-forfeiture provision that would give the insured the most amount of coverage
would be?
A. cash surrender value
B. extended term insurance
C. reduced paid up insurance
D. automatic premium loan -
Answer✓✓
B. extended term insurance
_____________Quiz____________?
if you choose the settlement option of receiving fixed monthly installments or fixed
amounts, you may receive an amount that is:
A. more than the face amount
B. less than the face amount
2
, C. the same as the face amount
D. none of the above -
Answer✓✓
A. more than the face amount.
_____________Quiz____________?
an individual, who wishes to provide a retirement income for himself that will also provide
retirement income for his wife in the event that he dies, should purchase which of the
following?
A. life annuity with period certain
B. a refundable life annuity
C. joint and survivor life annuity
D. immediate annuity -
Answer✓✓
C. joint and survivor life annuity
_____________Quiz____________?
a pure life annuity offers protection against the risk of:
A. death during the earning years
B. disability during the earning years
C. outliving one's income
D. death after the age of retirement -
Answer✓✓
C. outliving one's income
_____________Quiz____________?
a ____ is a product used to accumulate funds and later liquidate that amount?
A. industrial life policy
B. term life policy
3
