Which of the following most correctly describes the option(s) available with a
Universal Life Insurance policy the owner no longer wishes to maintain?
Give this one a try later!
Surrender the policy for its cash value or let the policy continue without
premiums until the cash value can no longer cover monthly deductions.
When selling a life insurance policy that replaces an existing policy, the agent must
leave all of the following items with the applicant expect:
Give this one a try later!
Confirmation that any existing insurers have been notified of the
replacement
,Jamie is 37 years old, but her friends insist that she looks younger than her age. She
applies for a health insurance policy and on the application states that she is 27 years
old. When the insurer discovers the truth, what will it probably do?
Give this one a try later!
Reduce the benefits
Derek buys an individual life insurance policy after he loses his job and is no longer
covered by his former employer's group plan. However, he dies during the conversion
period and before the policy takes effect. Which of the following statements is true?
Give this one a try later!
A death benefit will be paid under a group plan
All the following statements regarding traditional whole life insurance policy loans are
correct except:
Give this one a try later!
Policy loans are available from the moment the policy is issued
Amanda, age 45, bought a $50,000 ten-year renewable and convertible term life
policy. Regarding this, all the following statements are correct EXCEPT
Give this one a try later!
, premiums for this policy will be more than for a $50,000 permanent life
insurance policy
Jim applies for a health insurance policy. Although the insurer issues the policy, it
excludes coverage for losses associated with cardiac illness. The insurer has classified
Jim's risk as:
Give this one a try later!
Substandard
Health insurers and producers are prohibited from discriminating among insured
persons of the same:
Give this one a try later!
class and risk
life insurers cannot discriminate between persons of the same:
Give this one a try later!
class and life expectancy
Which of the following best describes the premium tax insurance companies must pay
when they receive premiums?
, Give this one a try later!
It is a state tax imposed by relatively few states
The notice of claim provision of a health insurance policy gives the insured how many
days to notify the insurer after a covered loss?
Give this one a try later!
20 days
Who's rights does the federal Fair Credit Reporting Act protect?
Give this one a try later!
consumers
Which of the following is not a required provision of health insurance policies issued
in New Mexico?
Give this one a try later!
Misstatement of age
All of the following distributions from a qualified plan are exempt from the 10 percent
penalty tax on premature distributions, except:
Universal Life Insurance policy the owner no longer wishes to maintain?
Give this one a try later!
Surrender the policy for its cash value or let the policy continue without
premiums until the cash value can no longer cover monthly deductions.
When selling a life insurance policy that replaces an existing policy, the agent must
leave all of the following items with the applicant expect:
Give this one a try later!
Confirmation that any existing insurers have been notified of the
replacement
,Jamie is 37 years old, but her friends insist that she looks younger than her age. She
applies for a health insurance policy and on the application states that she is 27 years
old. When the insurer discovers the truth, what will it probably do?
Give this one a try later!
Reduce the benefits
Derek buys an individual life insurance policy after he loses his job and is no longer
covered by his former employer's group plan. However, he dies during the conversion
period and before the policy takes effect. Which of the following statements is true?
Give this one a try later!
A death benefit will be paid under a group plan
All the following statements regarding traditional whole life insurance policy loans are
correct except:
Give this one a try later!
Policy loans are available from the moment the policy is issued
Amanda, age 45, bought a $50,000 ten-year renewable and convertible term life
policy. Regarding this, all the following statements are correct EXCEPT
Give this one a try later!
, premiums for this policy will be more than for a $50,000 permanent life
insurance policy
Jim applies for a health insurance policy. Although the insurer issues the policy, it
excludes coverage for losses associated with cardiac illness. The insurer has classified
Jim's risk as:
Give this one a try later!
Substandard
Health insurers and producers are prohibited from discriminating among insured
persons of the same:
Give this one a try later!
class and risk
life insurers cannot discriminate between persons of the same:
Give this one a try later!
class and life expectancy
Which of the following best describes the premium tax insurance companies must pay
when they receive premiums?
, Give this one a try later!
It is a state tax imposed by relatively few states
The notice of claim provision of a health insurance policy gives the insured how many
days to notify the insurer after a covered loss?
Give this one a try later!
20 days
Who's rights does the federal Fair Credit Reporting Act protect?
Give this one a try later!
consumers
Which of the following is not a required provision of health insurance policies issued
in New Mexico?
Give this one a try later!
Misstatement of age
All of the following distributions from a qualified plan are exempt from the 10 percent
penalty tax on premature distributions, except:
