Insurance Exam Practice Exam:
Questions and Answers
1. -On organization life coverage, based children may be covered as much as age
26 - ANSWER
2. Where substitute is worried, each life insurer that makes use of an agent in a life
coverage or annuity sale shall ship to the existing existence insurer a written
communique advising of the substitute within ____ operating days of the date the
software was acquired. 3 - ANSWER-
3. -Under social protection, being fully insured entitles a worker and family to complete
advantages. To attain fully insured status, an person must gain at the least ____
quarters of coverage. Forty - ANSWER
4. If a organization and a shareholder enter into an agreement that calls for the corporation
to buy the shareholder's stocks upon his or her demise, they've entered into: A buy/sell
agreement - ANSWER-
5. -When creating a life settlement, a policyowner will permanently transfer all rights of
ownership within the policy to every other birthday party by using making a(n):
Absolute challenge - ANSWER
6. When creating a life agreement, a policyowner will permanently transfer all rights of
possession inside the policy to another birthday celebration via making a(n): Absolute
undertaking - ANSWER-
7. The incontestability clause in a existence insurance coverage protects the insured
through stopping an insurer from denying a declare: After the coverage has been in
effect for a designated time period - ANSWER-
8. -Which of the subsequent completes the software for lifestyles coverage?Applicant -
ANSWER
9. Change the beneficiary
Assign or switch ownership inside the coverage
Take a loan - ANSWER-The owner of a existence coverage coverage may
additionally do all the following
10.-Under a long-time period care rider, which of the subsequent are considered to be
sports of each day residing? Dressing and ingesting - ANSWER
-All of following are required nonforfeiture options or provisions on a cash fee existence
insurance policy:Extended time period
Cash surrender
Questions and Answers
1. -On organization life coverage, based children may be covered as much as age
26 - ANSWER
2. Where substitute is worried, each life insurer that makes use of an agent in a life
coverage or annuity sale shall ship to the existing existence insurer a written
communique advising of the substitute within ____ operating days of the date the
software was acquired. 3 - ANSWER-
3. -Under social protection, being fully insured entitles a worker and family to complete
advantages. To attain fully insured status, an person must gain at the least ____
quarters of coverage. Forty - ANSWER
4. If a organization and a shareholder enter into an agreement that calls for the corporation
to buy the shareholder's stocks upon his or her demise, they've entered into: A buy/sell
agreement - ANSWER-
5. -When creating a life settlement, a policyowner will permanently transfer all rights of
ownership within the policy to every other birthday party by using making a(n):
Absolute challenge - ANSWER
6. When creating a life agreement, a policyowner will permanently transfer all rights of
possession inside the policy to another birthday celebration via making a(n): Absolute
undertaking - ANSWER-
7. The incontestability clause in a existence insurance coverage protects the insured
through stopping an insurer from denying a declare: After the coverage has been in
effect for a designated time period - ANSWER-
8. -Which of the subsequent completes the software for lifestyles coverage?Applicant -
ANSWER
9. Change the beneficiary
Assign or switch ownership inside the coverage
Take a loan - ANSWER-The owner of a existence coverage coverage may
additionally do all the following
10.-Under a long-time period care rider, which of the subsequent are considered to be
sports of each day residing? Dressing and ingesting - ANSWER
-All of following are required nonforfeiture options or provisions on a cash fee existence
insurance policy:Extended time period
Cash surrender
