CO LIFE INSURANCE EXAM FX 2024-2025 WITH CORRECT
ANSWERS
Which type of rider will waive the premium on a child's life insurance policy if the parent paying
the premium dies? - Answersguaranteed insurability
Pat owns a 20 pay life policy with a paid dividend option. Which of the following statements is
true? - Answersthe policy may be paid up early by using policy dividends
A renewable term life insurance policy can be renewed - Answersanytime the policy owners
request
What would a be an expense factor in an insurance program - Answersmortality costs
Which of the following is an annuity that is linked to a market related index.. - Answersequity
index annuity
Agreements made by terminally ill persons to sell their life insurance policies at a discount in
order to pay medical expenses is called.. - Answersviatical settlements
Variable life insurance & universal life insurance are similar. Which of these are held exclusively
by variable universal life insurance.. - AnswersPolicyowner has the right to select the
investments which will provide the the greatest return
, An accelerated death benefit in PA must be at least what percentage of the total death benefit..
- Answers25%
A producer's license CANNOT be revoked without - Answersa hearing given to the producer
Mike has inherited his father's traditional IRA. As a beneficiary, he will pay taxes on any money
withdrawn - Answersincome
Signatures for an insurance application MUST be obtained by the producer from all of the
following sources except.. - AnswersBeneficiary
What is the purpose for having an accelerated death benefit on a life insurance policy.. -
AnswersIt allows for cash advances to be paid against the death if the insured becomes
terminally ill
Which premium payment frequencies is not typically available to policyholders.. - Answersbi-
weekly
Single premium cash value policy can be described as.. - Answersa policy that is paid up only
after one payment
All of the following are considered appropriate uses of life insurance.. - Answers- attracting
quality employees by offering a group life plan
- protecting the business by covering key employees with life insurance
- funding an entity buy sell agreement
The do not call list offers exemption from all except - Answerslife insurance
Ken is a producer who has consumer info reports under false pretenses under the fair credit
reporting act, what is the max penalty.. - Answers$5000 & 1 year in jail
ANSWERS
Which type of rider will waive the premium on a child's life insurance policy if the parent paying
the premium dies? - Answersguaranteed insurability
Pat owns a 20 pay life policy with a paid dividend option. Which of the following statements is
true? - Answersthe policy may be paid up early by using policy dividends
A renewable term life insurance policy can be renewed - Answersanytime the policy owners
request
What would a be an expense factor in an insurance program - Answersmortality costs
Which of the following is an annuity that is linked to a market related index.. - Answersequity
index annuity
Agreements made by terminally ill persons to sell their life insurance policies at a discount in
order to pay medical expenses is called.. - Answersviatical settlements
Variable life insurance & universal life insurance are similar. Which of these are held exclusively
by variable universal life insurance.. - AnswersPolicyowner has the right to select the
investments which will provide the the greatest return
, An accelerated death benefit in PA must be at least what percentage of the total death benefit..
- Answers25%
A producer's license CANNOT be revoked without - Answersa hearing given to the producer
Mike has inherited his father's traditional IRA. As a beneficiary, he will pay taxes on any money
withdrawn - Answersincome
Signatures for an insurance application MUST be obtained by the producer from all of the
following sources except.. - AnswersBeneficiary
What is the purpose for having an accelerated death benefit on a life insurance policy.. -
AnswersIt allows for cash advances to be paid against the death if the insured becomes
terminally ill
Which premium payment frequencies is not typically available to policyholders.. - Answersbi-
weekly
Single premium cash value policy can be described as.. - Answersa policy that is paid up only
after one payment
All of the following are considered appropriate uses of life insurance.. - Answers- attracting
quality employees by offering a group life plan
- protecting the business by covering key employees with life insurance
- funding an entity buy sell agreement
The do not call list offers exemption from all except - Answerslife insurance
Ken is a producer who has consumer info reports under false pretenses under the fair credit
reporting act, what is the max penalty.. - Answers$5000 & 1 year in jail
