Pearson Vue Comprehensive Exam Part
1 Questions & Answers Rated A+
Admitted life insurance must pay interest, at a rate specified by life, on death benefits
from the date of the insured's death, through how many days following the date the
insurer receives the claim?
a. 15 days
b. 20 days
c. 30 days
d. 31 days - CORRECT ANSWER-c. 30 days
The policy loan amount cannot exceed the __________________.
a. The cumulative premiums paid
b. The loan balance
c. Available cash surrender value
d. The face amount of the policy - CORRECT ANSWER-c. Available cash surrender
value
The State's ______________ branch enforces the existing statues that have been in
place.
a. Executive
b. Judicial
c. Electoral
d. Legislativec - CORRECT ANSWER-c. Executive
A(n)___________ plan calls for the business to purchase life insurance policies on each
of the business owners.
, a. Cross Purchase
b. Entity
c. Group
d. Credit Protection - CORRECT ANSWER-b. Entity
Which of the following is true about group life insurance death benefits?
a. If a person dies during the conversion period and no premium has been paid, no
death benefit will be paid
b. If no beneficiary is named on a policy, the death benefit will not pay for the burial
expenses
c. The death benefit is not liable to garnishment or debts without the insured's directive
d. A beneficiary of a group life policy must share the proceeds with a judgement from a
judicial proceeding - CORRECT ANSWER-c. The death benefit is not liable to
garnishment or debts without the insured's directive
All of the follow are TRUE regarding non-qualified retirement plans, except:
a. Contributions are not tax deductible
b. Upon withdrawal only the earnings are subject to taxation.
c. Contributions are immediately tax deductible
d. Earnings can be tax deferred until withdrawn - CORRECT ANSWER-c. Contributions
are immediately tax deductible
All of the following are correct pertaining to Decreasing Term, except:
a. The premium declines throughout the term of the policy
b. Its most common uses is in credit life insurance
c. The death benefit decreases
d. The premium stays level - CORRECT ANSWER-a. The premium declines throughout
the term of the policy
1 Questions & Answers Rated A+
Admitted life insurance must pay interest, at a rate specified by life, on death benefits
from the date of the insured's death, through how many days following the date the
insurer receives the claim?
a. 15 days
b. 20 days
c. 30 days
d. 31 days - CORRECT ANSWER-c. 30 days
The policy loan amount cannot exceed the __________________.
a. The cumulative premiums paid
b. The loan balance
c. Available cash surrender value
d. The face amount of the policy - CORRECT ANSWER-c. Available cash surrender
value
The State's ______________ branch enforces the existing statues that have been in
place.
a. Executive
b. Judicial
c. Electoral
d. Legislativec - CORRECT ANSWER-c. Executive
A(n)___________ plan calls for the business to purchase life insurance policies on each
of the business owners.
, a. Cross Purchase
b. Entity
c. Group
d. Credit Protection - CORRECT ANSWER-b. Entity
Which of the following is true about group life insurance death benefits?
a. If a person dies during the conversion period and no premium has been paid, no
death benefit will be paid
b. If no beneficiary is named on a policy, the death benefit will not pay for the burial
expenses
c. The death benefit is not liable to garnishment or debts without the insured's directive
d. A beneficiary of a group life policy must share the proceeds with a judgement from a
judicial proceeding - CORRECT ANSWER-c. The death benefit is not liable to
garnishment or debts without the insured's directive
All of the follow are TRUE regarding non-qualified retirement plans, except:
a. Contributions are not tax deductible
b. Upon withdrawal only the earnings are subject to taxation.
c. Contributions are immediately tax deductible
d. Earnings can be tax deferred until withdrawn - CORRECT ANSWER-c. Contributions
are immediately tax deductible
All of the following are correct pertaining to Decreasing Term, except:
a. The premium declines throughout the term of the policy
b. Its most common uses is in credit life insurance
c. The death benefit decreases
d. The premium stays level - CORRECT ANSWER-a. The premium declines throughout
the term of the policy
