Life Insurance Study Exam- Georgia
2025 Questions and Answers
An insurance producer selling a Variable Annuity whose cash value depends on the
performance of an underlying investment account must be registered with: -
ANSWER-The Financial Industry Regulatory Authority (FINRA, formerly the
NASD)
A life insurance policy whose cash value will fluctuate depending upon the
performance of a separate account is: - ANSWER-Variable Life
John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The
cash value will equal the face amount of the policy when he reaches the age of: -
ANSWER-100
Which of the following types of insurance policies would provide the greatest
amount of protection for a temporary period during which an insured will have
limited financial resources? - ANSWER-Term
Which of the following statements about a Renewable Term policy is true? -
ANSWER-It is renewable at the option of the insured
An Annuity is designed to provide which of the following financial features?
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, I. The liquidation of principal and interest
II. Favorable tax treatment
III. The creation of an estate - ANSWER-I and II
A 45-year old customer who is seeking to supplement his retirement income at age
65 would not buy a: - ANSWER-Immediate Annuity
Which of the following is an example of a Limited-Pay Life policy? - ANSWER-
Life Paid-Up at Age 65
You have a client that is a real estate agent. Which of the following types of
permanent protection is best for this type of client? - ANSWER-Adjustable life
Which of the following individual policy conversions is usually permitted without
any evidence of insurability? - ANSWER-Conversion from a Term policy to a
Whole Life policy
At age 30, Tom Morris wishes to purchase a Whole Life policy. His producer
explains that he can pay for the policy in several ways. One method is called 20-
Pay Life, and another, Straight Life. Tom wishes to know which plan will
accumulate cash value at a faster rate in the early years of the policy. Which of the
following would be the producer's most appropriate response? - ANSWER-"20-
Pay Life will accumulate cash value faster."
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
2025 Questions and Answers
An insurance producer selling a Variable Annuity whose cash value depends on the
performance of an underlying investment account must be registered with: -
ANSWER-The Financial Industry Regulatory Authority (FINRA, formerly the
NASD)
A life insurance policy whose cash value will fluctuate depending upon the
performance of a separate account is: - ANSWER-Variable Life
John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The
cash value will equal the face amount of the policy when he reaches the age of: -
ANSWER-100
Which of the following types of insurance policies would provide the greatest
amount of protection for a temporary period during which an insured will have
limited financial resources? - ANSWER-Term
Which of the following statements about a Renewable Term policy is true? -
ANSWER-It is renewable at the option of the insured
An Annuity is designed to provide which of the following financial features?
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, I. The liquidation of principal and interest
II. Favorable tax treatment
III. The creation of an estate - ANSWER-I and II
A 45-year old customer who is seeking to supplement his retirement income at age
65 would not buy a: - ANSWER-Immediate Annuity
Which of the following is an example of a Limited-Pay Life policy? - ANSWER-
Life Paid-Up at Age 65
You have a client that is a real estate agent. Which of the following types of
permanent protection is best for this type of client? - ANSWER-Adjustable life
Which of the following individual policy conversions is usually permitted without
any evidence of insurability? - ANSWER-Conversion from a Term policy to a
Whole Life policy
At age 30, Tom Morris wishes to purchase a Whole Life policy. His producer
explains that he can pay for the policy in several ways. One method is called 20-
Pay Life, and another, Straight Life. Tom wishes to know which plan will
accumulate cash value at a faster rate in the early years of the policy. Which of the
following would be the producer's most appropriate response? - ANSWER-"20-
Pay Life will accumulate cash value faster."
COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
