1
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AD Banker - Comprehensive exam 2
Questions and Answers (100% Correct
Answers) Already Graded A+
Who retains all of the rights in a life insurance policy?
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A. The policyowner
B. The beneficiary
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C. The insurer
D. The insured [ Ans: ] A. The policyowner
Barry has just been hired by OPQ Corporation and finds that he
cannot enroll for coverage under OPQ's group health insurance
plan for 30 days. This 30-day period is known as a:
A. Policy Period
B. Elimination Period
C. Deductible
, 2
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D. Probationary Period [ Ans: ] D. Probationary Period
When an individual is covered by more than one health plan and
is injured, what provision determines which plan is that person's
primary coverage?
A. Continuation of Coverage
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B. Extension of Benefits
C. Conversion Privilege
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D. Coordination of Benefits [ Ans: ] D. Coordination of Benefits
Which of the following scenarios best describes a viatical
settlement for life insurance?
A. A terminally ill insured/owner sells their policy to a third-party
provider
B. A policy is donated to a charitable organization in exchange
for certain benefits
C. An insured with 5 years or more life expectancy sells a policy no
longer needed for more than its cash value
, 3
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D. An insured gifts a policy to a non-profit organization in
exchange for certain benefits [ Ans: ] A. A terminally ill
insured/owner sells their policy to a third-party provider
All of the following are traditional whole life policy nonforfeiture
values, except:
A. Cash surrender values
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B. Reduced paid-up insurance
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C. Renewable and convertible features
D. Extended term insurance [ Ans: ] C. Renewable and
convertible features
All of the following are riders that can provide for additional
temporary coverage on a new or existing policy, except:
A. Spouse Rider
B. Insured Rider
C. Neighbor Rider
D. Children Rider [ Ans: ] C. Neighbor Rider
, 4
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What percentage of employee participation is required for a
contributory employer group plan?
A. 25%
B. 100%
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C. 75%
D. 50% [ Ans: ] C. 75%
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The maximum amount the accidental death and dismemberment
rider will pay out before it expires is
A. The capital sum plus the principal sum
B. There is no stated maximum. It depends on how often the
insured is insured.
C. The capital sum
D. The principal sum [ Ans: ] D. The principal sum
COBRA applies to employers with:
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AD Banker - Comprehensive exam 2
Questions and Answers (100% Correct
Answers) Already Graded A+
Who retains all of the rights in a life insurance policy?
© 2025 Assignment Expert
A. The policyowner
B. The beneficiary
Guru01 - Stuvia
C. The insurer
D. The insured [ Ans: ] A. The policyowner
Barry has just been hired by OPQ Corporation and finds that he
cannot enroll for coverage under OPQ's group health insurance
plan for 30 days. This 30-day period is known as a:
A. Policy Period
B. Elimination Period
C. Deductible
, 2
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D. Probationary Period [ Ans: ] D. Probationary Period
When an individual is covered by more than one health plan and
is injured, what provision determines which plan is that person's
primary coverage?
A. Continuation of Coverage
© 2025 Assignment Expert
B. Extension of Benefits
C. Conversion Privilege
Guru01 - Stuvia
D. Coordination of Benefits [ Ans: ] D. Coordination of Benefits
Which of the following scenarios best describes a viatical
settlement for life insurance?
A. A terminally ill insured/owner sells their policy to a third-party
provider
B. A policy is donated to a charitable organization in exchange
for certain benefits
C. An insured with 5 years or more life expectancy sells a policy no
longer needed for more than its cash value
, 3
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D. An insured gifts a policy to a non-profit organization in
exchange for certain benefits [ Ans: ] A. A terminally ill
insured/owner sells their policy to a third-party provider
All of the following are traditional whole life policy nonforfeiture
values, except:
A. Cash surrender values
© 2025 Assignment Expert
B. Reduced paid-up insurance
Guru01 - Stuvia
C. Renewable and convertible features
D. Extended term insurance [ Ans: ] C. Renewable and
convertible features
All of the following are riders that can provide for additional
temporary coverage on a new or existing policy, except:
A. Spouse Rider
B. Insured Rider
C. Neighbor Rider
D. Children Rider [ Ans: ] C. Neighbor Rider
, 4
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What percentage of employee participation is required for a
contributory employer group plan?
A. 25%
B. 100%
© 2025 Assignment Expert
C. 75%
D. 50% [ Ans: ] C. 75%
Guru01 - Stuvia
The maximum amount the accidental death and dismemberment
rider will pay out before it expires is
A. The capital sum plus the principal sum
B. There is no stated maximum. It depends on how often the
insured is insured.
C. The capital sum
D. The principal sum [ Ans: ] D. The principal sum
COBRA applies to employers with:
