EXAMFX LIFE INSURANCE FINAL EXAM

EXAMFX LIFE INSURANCE FINAL EXAM


Agbuyer'sgguideg-gans--ThegentiregcontractgincludesgallgofgthegfollowinggEXCEPT...

Thegdeathgbenefitgisgnotgincreasedg-gans--
AllgofgthegfollowinggstatementsgaboutgindexedgwholeglifeginsurancegEXCEPT...

AgWarrantyg-gans--
Whatgguaranteesgthatgtheginformationgexplainedgingtheginsurancegcontractgisgtrue?

(1)gthegpolicy,g(2)gagcopygofgthegapplication,gandg(3)ganygridersgorgamendments.g-gans--
Thegentiregcontractgincludes:

guaranteedg-gans--
Undergangindexedgwholeglifegpolicy,gthegpremiumgisgfixed,gbutgthegdeathgbenefitgis...

Warrantiesg-
gans--...garegconsideredgstatementsgofgfactgorgsomethinggguaranteedgtogbegtrue.



voidingg-gans--
Agbreachgofgwarrantygcangbegconsideredggroundsgforg________________gthegpolicy.

Wholeglifeg-gans--Aggradedgpremiumglifeginsurancegpolicygisgagmodifiedgformgof...

GradedgPremiumg-
gans--...gagwholeglifegpolicygwithgpremiumsgthatgincreasegannuallygovergthegfirstg5gtog10gye

ars.

Gracegperiodg-gans--
Anginsuredgboughtganginsurancegpolicygthatgrequiresghimgtogpayg$150gingpremiumsgongthe
g15thgofgeachgmonth.gHegthengtakesgangextendedgvacationgandgforgetsgtogpaygthegpremiu

m.gTengdaysglater,ghisgpolicygisgstillgingeffectgandghasgnotglapsed.gWhatgpolicygprovisiongall
owedgforgthis?

premiumg-gans--
Gracegperiodgisgagmandatorygprovisiongfoundgingallglifeginsurancegpoliciesgthatgprovidesgc
overagegforgagperiodgofgtimegaftergtheg_____________________gbecomesgpastgdue.

ThegAnnuitantg-gans--
Whichgofgthegfollowinggindicatesgthegpersongupongwhoseglifegthegannuitygincomegamountgi
sgdetermined?

, annuitygincomeg-gans--
Thegannuitantgisgthegpersongwhoseglifegtheg______________g__________________gam
ountgisgdetermined.

Thegpremiumgisgbasedgongthegagegofgeachginsuredg-gans--TruegofgSurvivorshipgLifegpolicy

Thegfacegamountgisgpaidgtogtheginsured.g-gans--
Whatghappensgtogthegfacegamountgofgagwholeglifegpolicygifgtheginsuredgreachesgthegagegof
g100?



Agpolicygisgreissuedgwithgagreductiongingcashgvalueg-gans--
Accordinggtogtheglifeginsurancegreplacegmeantgregulations,gwhichgofgthegfollowinggwouldgb
egangexamplegofgpolicygreplacement?

ThegCommissionergmaygholdghearingsgimmediatelygaftergdetermininggthatgagviolationghas
goccurred.g-gans--

truegregardinggtheginsurancegcommissioner'sgpowersgrelatedgtoghearingsgandginvestigatio
ns

Applicantsgwhogmaygrequiregaglargergdeathgbenefitgingthegfuturegshouldgbuygconvertiblegte
rmginsuranceg-gans--
Incorrectgregardinggthegtypegofgtermginsurancegthatgfitsgbestgwithgthegapplicant'sgneeds

jointglifeg-gans--
Whatgisgthegmostgcommongnamegforgagsinglegpolicygthatgisgdesignedgtoginsuregtwogorgmor
eglivesgwithgagstandardgpremium,gandgthatgpaysgthegdeathgbenefitgupongthegfirstgdeath?

Angaccidentalgdeathgriderg-gans--
Whichgofgthegfollowinggridersgpaysgagbeneficiarygagdeathgbenefitgthatgisgdoublegorgtriplegth
egfacegamountgifgtheginsured'sgdeathgwasgcausedgbygangaccidentgasgdefinedgingthegpolicy
?

Thegdeathgbenefitgisgtaxablegtogthegbusinessg-gans--notgtruegaboutgkey-personginsurance

Onegpartygacceptsgthegexactgtermsgofgthegothergparty'sgofferg-gans--
Whichgstatementgbestgdescribesgagreementgasgitgrelatesgtoginsurancegcontracts?

Livingglongergthangexpectedg-gans--
Whatgdoesgangannuitygprotectgthegcontractgownergagainst?

10gbusinessgdaysg-gans--
Anginsurancegagentgchangesghisgaddress.gHowglonggwillgthegagentgbeggivengtognotifygtheg
DepartmentgofgInsurance?