UNIVERSITY OF UTAH LIFE INSURANCE EXAM

UNIVERSITY OF UTAH LIFE INSURANCE EXAM Minimum Age to receive a license - correct answer 18 SEC - correct answer Securities Exchange Commission Children's Term Rider - correct answer -if attached to a life insurance policy, children can be covered under the policy until they reach the maximum age stated in the policy. At that point, they can convert their covered to a new policy without issuing a proof of insurabliity. Which of the following statements is TRUE concerning irrevocable beneficiaries? - correct answer They can be changed only with the written consent of that beneficiary. If either one spouse should die within a specified time, the other one will receive benefits until the end of the specified time. This is known as - correct answer -Joint Life and Term Certain What is the major problem with naming a trust as the beneficiary of a life insurance policy? - correct answer They are expensive to the administrator What Life insurance policies are considered interest sensitive? - correct answer Universal Life In an Adjustable Life insurance policy the policy owner can change ALL but what thing? - correct answer The type of investment A domest