QFA Life Assurance Sample Paper 2
A 'codicil' is:
A a felony name for a Will
B an amendment made to an existing Will
C a clause that defines the minimum survival duration requirement
D the call for the witness that has signed the Will - ANS-B
five.2.3 - Codicil
A client's emergency financial savings fund should usually be which MINIMUM more than one of
his or her monthly internet earnings?
A1
B three
C6
D 12 - ANS-B
9.2.2 - Emergency Fund
A commission paid annually by using a life employer to an insurance intermediary based at the
value of a unit-linked bond is known as which sort of commission?
A Initial
B Advance
C Trail
D Closed - ANS-C
8.1.2 - Charges
A Consensus Managed Fund adopts which sort of funding management fashion?
A Active
B Hedged
C Passive
D Contrarian - ANS-C
eight.1.Three - Unit Fund Choice
,A Disclosure Notice does NOT need to be furnished for which one of the following kinds of
policies?
A Policies issued to non-residents
B Savings plans for much less than €30 consistent with month
C Guaranteed whole of existence
D Term warranty - ANS-A
12.2.Five.5 - Policies not subject to the Disclosure Regulations
A joint life first dying coverage held through a married couple is legally presumed to be held as:
A tenants in common
B tenants in ownership
C shared tenants
D joint tenants - ANS-D
5.1.Three - Life Assurance rules
A Keyperson existence guarantee policy is which one of the following?
A An own lifestyles policy
B A existence of some other policy
C An own lifestyles policy arranged below trust for the benefit of the surviving shareholders
D A joint life coverage insuring the agency and one of the shareholders - ANS-B
6.3.Three - Arranging the Keyperson Insurance Policy
A lifestyles warranty policy organized under the Section 72 Capital Acquisitions Tax Act may be
used to fund:
(i) inheritance tax
(ii) profits tax deducted on dying from an inheritance taken from a vested PRSA
(iii) earnings tax deducted on death from an inheritance taken from an ARF.
A (i) simplest
B (iii) handiest
C (i) and (ii) best
D (i), (ii) and (iii) - ANS-D
four.2.Eight.3 - Providing for taxes payable on demise
A lifestyles guarantee coverage taken out to pay off taxes springing up on death is which sort of
coverage?
, A Savings
B Investment
C Protection
D Loan - ANS-C
1.4 - Life guarantee rules to fulfill financial needs
A lifestyles company is NOT required to make a revenue go back of the benefits paid out on
which one of the following coverage sorts?
A PRSA
B Tracker bond
C Unit-connected bond
D Unit-related financial savings plan. - ANS-A
13.7 - Reporting gain payments to Revenue
A lifestyles agency may also, on occasion, refuse to accept new investments into which one of
the following sorts of unit budget?
A Property
B Equity
C Bond
D Managed - ANS-A
eight.1.5 - Property fund regulations
A loan safety policy isn't always appropriate to Joan, who has an interest best domestic loan
over seven years because:
A the minimal time period on a loan safety is ten years
B the debt isn't reducing so, inside the event of demise, the coverage would no longer clean the
debt in complete
C if Joan dies in three years, there may be a shortfall among the coverage declare and the
house mortgage debt
D it can't be assigned to the bank - ANS-B
2.2.Five - Mortgage Protection
A mortgage safety coverage is which kind of Term Assurance?
A Level
B Decreasing
A 'codicil' is:
A a felony name for a Will
B an amendment made to an existing Will
C a clause that defines the minimum survival duration requirement
D the call for the witness that has signed the Will - ANS-B
five.2.3 - Codicil
A client's emergency financial savings fund should usually be which MINIMUM more than one of
his or her monthly internet earnings?
A1
B three
C6
D 12 - ANS-B
9.2.2 - Emergency Fund
A commission paid annually by using a life employer to an insurance intermediary based at the
value of a unit-linked bond is known as which sort of commission?
A Initial
B Advance
C Trail
D Closed - ANS-C
8.1.2 - Charges
A Consensus Managed Fund adopts which sort of funding management fashion?
A Active
B Hedged
C Passive
D Contrarian - ANS-C
eight.1.Three - Unit Fund Choice
,A Disclosure Notice does NOT need to be furnished for which one of the following kinds of
policies?
A Policies issued to non-residents
B Savings plans for much less than €30 consistent with month
C Guaranteed whole of existence
D Term warranty - ANS-A
12.2.Five.5 - Policies not subject to the Disclosure Regulations
A joint life first dying coverage held through a married couple is legally presumed to be held as:
A tenants in common
B tenants in ownership
C shared tenants
D joint tenants - ANS-D
5.1.Three - Life Assurance rules
A Keyperson existence guarantee policy is which one of the following?
A An own lifestyles policy
B A existence of some other policy
C An own lifestyles policy arranged below trust for the benefit of the surviving shareholders
D A joint life coverage insuring the agency and one of the shareholders - ANS-B
6.3.Three - Arranging the Keyperson Insurance Policy
A lifestyles warranty policy organized under the Section 72 Capital Acquisitions Tax Act may be
used to fund:
(i) inheritance tax
(ii) profits tax deducted on dying from an inheritance taken from a vested PRSA
(iii) earnings tax deducted on death from an inheritance taken from an ARF.
A (i) simplest
B (iii) handiest
C (i) and (ii) best
D (i), (ii) and (iii) - ANS-D
four.2.Eight.3 - Providing for taxes payable on demise
A lifestyles guarantee coverage taken out to pay off taxes springing up on death is which sort of
coverage?
, A Savings
B Investment
C Protection
D Loan - ANS-C
1.4 - Life guarantee rules to fulfill financial needs
A lifestyles company is NOT required to make a revenue go back of the benefits paid out on
which one of the following coverage sorts?
A PRSA
B Tracker bond
C Unit-connected bond
D Unit-related financial savings plan. - ANS-A
13.7 - Reporting gain payments to Revenue
A lifestyles agency may also, on occasion, refuse to accept new investments into which one of
the following sorts of unit budget?
A Property
B Equity
C Bond
D Managed - ANS-A
eight.1.5 - Property fund regulations
A loan safety policy isn't always appropriate to Joan, who has an interest best domestic loan
over seven years because:
A the minimal time period on a loan safety is ten years
B the debt isn't reducing so, inside the event of demise, the coverage would no longer clean the
debt in complete
C if Joan dies in three years, there may be a shortfall among the coverage declare and the
house mortgage debt
D it can't be assigned to the bank - ANS-B
2.2.Five - Mortgage Protection
A mortgage safety coverage is which kind of Term Assurance?
A Level
B Decreasing
