Pearson Vue Life Insurance Practice Exam LATEST ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

Pearson Vue Life Insurance Practice Exam LATEST ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ An insured owns a $10,000 policy with a $4,000 cash value and a 6 percent interest rate. On January 1, the insured borrows $500 and pays one year's interest in advance. During the year, the insured does not repay any part of the loan or interest. If the insured dies on December 31, the beneficiary will be entitled to a MAXIMUM of: A.$3,500 B.$6,000 C.$9,470 D.$9,500 - CORRECT ANSWER D Which of the following retirement plans is tax-qualified? A.Key-person B.Defined contribution C.Section 457 deferred compensation D.Split dollar life insurance - CORRECT ANSWER B A life insurance application is incomplete if it is missing the signature of which of the following? A.A revocable beneficiary B.The president of the insurer C.The proposed insured's primary care physician D.The proposed adult insured - CORRECT ANSWER D The right to change a beneficiary designation is reserved for the: A.beneficiary B.policyowner C.insurer D.insured - CORRECT ANSWER B All of the following policies may be examples of third party ownership EXCEPT: A.Modified Life B.Group Life C.Split-dollar Lif