Insurance Exam Practice Exam: Questions
_____________Quiz____________?
Pure or straight life -
Answer✓✓
Which of the following annuity benefit payment options would generate the highest monthly
payments to the contract owner upon annuitization?
_____________Quiz____________?
Paid-up additions
1-year term
Cash -
Answer✓✓
All of the following are dividend options on a participating life insurance policy:
_____________Quiz____________?
Insured -
Answer✓✓
The person upon whose life an annuity is based is known as the:
_____________Quiz____________?
Reduced paid-up -
1
, Answer✓✓
When a policyowner uses the cash value in their policy to buy a lesser amount of
permanent life insurance, they have exercised which nonforfeiture option:
_____________Quiz____________?
Interest only -
Answer✓✓
Which of the following life insurance settlement options enables the beneficiary to conserve
the proceeds of a life insurance policy?
_____________Quiz____________?
The account value -
Answer✓✓
In the case of a variable annuity sold to a senior citizen in this state for which the owner has
directed that the premium be invested in the mutual funds underlying the contract during
the 30-day cancellation period, cancellation during that period entitles the owner to a
refund of:
_____________Quiz____________?
They are purchased by those who are worried about outliving their savings.
They are not suitable as short term investments.
They may be used as a life insurance settlement option. -
Answer✓✓
All of the following are true regarding annuities
_____________Quiz____________?
Group (Life Insruance) -
Answer✓✓
2
_____________Quiz____________?
Pure or straight life -
Answer✓✓
Which of the following annuity benefit payment options would generate the highest monthly
payments to the contract owner upon annuitization?
_____________Quiz____________?
Paid-up additions
1-year term
Cash -
Answer✓✓
All of the following are dividend options on a participating life insurance policy:
_____________Quiz____________?
Insured -
Answer✓✓
The person upon whose life an annuity is based is known as the:
_____________Quiz____________?
Reduced paid-up -
1
, Answer✓✓
When a policyowner uses the cash value in their policy to buy a lesser amount of
permanent life insurance, they have exercised which nonforfeiture option:
_____________Quiz____________?
Interest only -
Answer✓✓
Which of the following life insurance settlement options enables the beneficiary to conserve
the proceeds of a life insurance policy?
_____________Quiz____________?
The account value -
Answer✓✓
In the case of a variable annuity sold to a senior citizen in this state for which the owner has
directed that the premium be invested in the mutual funds underlying the contract during
the 30-day cancellation period, cancellation during that period entitles the owner to a
refund of:
_____________Quiz____________?
They are purchased by those who are worried about outliving their savings.
They are not suitable as short term investments.
They may be used as a life insurance settlement option. -
Answer✓✓
All of the following are true regarding annuities
_____________Quiz____________?
Group (Life Insruance) -
Answer✓✓
2
