EXAMFX LIFE INSURANCE FINAL EXAM 2026-2027 LATEST
UPDATE EXPERT VERIFIED QUESTIONS AND ANSWERS
REAL EXAM
A buyer's guide - correct answer-The entire contract includes all of the following EXCEPT...
The death benefit is not increased - correct answer-
All of the following statements about indexed whole life insurance EXCEPT...
A Warranty - correct answer-
What guarantees that the information explained in the insurance contract is true?
(1) the policy, (2) a copy of the application, and (3) any riders or amendments. - correct answer-
The entire contract includes:
guaranteed - correct answer-
Under an indexed whole life policy, the premium is fixed, but the death benefit is...
Warranties - correct answer-... are considered statements of fact or something guaranteed to be true.
voiding - correct answer-
A breach of warranty can be considered grounds for the policy.
Whole life - correct answer-A graded premium life insurance policy is a modified form of...
Graded Premium - correct answer-
... a whole life policy with premiums that increase annually over the first 5 to 10 years.
Grace period - correct answer-
An insured bought an insurance policy that requires him to pay $150 in premiums on the 15th of each
month. He then takes an extended vacation and forgets to pay the premium. Ten days later, his policy is
still in effect and has not lapsed. What policy provision allowed for this?
, premium - correct answer-
Grace period is a mandatory provision found in all life insurance policies that provides coverage for a p
eriod of time after the becomes past due.
The Annuitant - correct answer-
Which of the following indicates the person upon whose life the annuity income amount is determined?
annuity income - correct answer-
The annuitant is the person whose life the amount is determine
d.
The premium is based on the age of each insured - correct answer-True of Survivorship Life policy
The face amount is paid to the insured. - correct answer-
What happens to the face amount of a whole life policy if the insured reaches the age of 100?
A policy is reissued with a reduction in cash value - correct answer-
According to the life insurance replace meant regulations, which of the following would be an example
of policy replacement?
The Commissioner may hold hearings immediately after determining that a violation has occurred. -
correct answer-
true regarding the insurance commissioner's powers related to hearings and investigations
Applicants who may require a larger death benefit in the future should buy convertible term insurance -
correct answer-Incorrect regarding the type of term insurance that fits best with the applicant's needs
joint life - correct answer-
What is the most common name for a single policy that is designed to insure two or more lives with a s
tandard premium, and that pays the death benefit upon the first death?
An accidental death rider - correct answer-
Which of the following riders pays a beneficiary a death benefit that is double or triple the face amount
if the insured's death was caused by an accident as defined in the policy?
UPDATE EXPERT VERIFIED QUESTIONS AND ANSWERS
REAL EXAM
A buyer's guide - correct answer-The entire contract includes all of the following EXCEPT...
The death benefit is not increased - correct answer-
All of the following statements about indexed whole life insurance EXCEPT...
A Warranty - correct answer-
What guarantees that the information explained in the insurance contract is true?
(1) the policy, (2) a copy of the application, and (3) any riders or amendments. - correct answer-
The entire contract includes:
guaranteed - correct answer-
Under an indexed whole life policy, the premium is fixed, but the death benefit is...
Warranties - correct answer-... are considered statements of fact or something guaranteed to be true.
voiding - correct answer-
A breach of warranty can be considered grounds for the policy.
Whole life - correct answer-A graded premium life insurance policy is a modified form of...
Graded Premium - correct answer-
... a whole life policy with premiums that increase annually over the first 5 to 10 years.
Grace period - correct answer-
An insured bought an insurance policy that requires him to pay $150 in premiums on the 15th of each
month. He then takes an extended vacation and forgets to pay the premium. Ten days later, his policy is
still in effect and has not lapsed. What policy provision allowed for this?
, premium - correct answer-
Grace period is a mandatory provision found in all life insurance policies that provides coverage for a p
eriod of time after the becomes past due.
The Annuitant - correct answer-
Which of the following indicates the person upon whose life the annuity income amount is determined?
annuity income - correct answer-
The annuitant is the person whose life the amount is determine
d.
The premium is based on the age of each insured - correct answer-True of Survivorship Life policy
The face amount is paid to the insured. - correct answer-
What happens to the face amount of a whole life policy if the insured reaches the age of 100?
A policy is reissued with a reduction in cash value - correct answer-
According to the life insurance replace meant regulations, which of the following would be an example
of policy replacement?
The Commissioner may hold hearings immediately after determining that a violation has occurred. -
correct answer-
true regarding the insurance commissioner's powers related to hearings and investigations
Applicants who may require a larger death benefit in the future should buy convertible term insurance -
correct answer-Incorrect regarding the type of term insurance that fits best with the applicant's needs
joint life - correct answer-
What is the most common name for a single policy that is designed to insure two or more lives with a s
tandard premium, and that pays the death benefit upon the first death?
An accidental death rider - correct answer-
Which of the following riders pays a beneficiary a death benefit that is double or triple the face amount
if the insured's death was caused by an accident as defined in the policy?
