Life Insurance Exam Questions And Verified
Answers
1. What cis canother cword cfor ca cmathematician cwho canalyzes cthe cprobability cof cspecific cevents
coccurring cand cvalues chealth cor clife cinsurance cpolicies cdepending con cthe cprobability cof cthose
cevents coccurring?
Statistician
cComputator
cActuary
c Economist
cANSWER:
cActuary
An cactuary cis ca cmathematician cwho canalyzes cthe cprobability cof ccertain cevents coccurring cand
cthen cprices cinsurance cpolicies cdepending con cthe cprobability cof cthose cevents coccurring.
2. Mikey, cLen’s cgrandson, cis cone cof chis cthree cchildren. cLen’s cdisability cpolicy cnames chis
cwife cas cthe cprimary cbeneficiary, cbut cshe cdied cfive cyears cago. cAll cof cLen’s cchildren chad
cdied cby cthe ctime che cgoes caway. cThey, clike cMikey, chad cbenefited cfrom chis cgenerosity.
cMikey cis cwhat ckind cof cbeneficiary?
Secondary
cTertiary
cPrimary
None cof cthe
cabove cAll cof cthe
cabove cANSWER:
cTertiary
,The cpolicyholder cnames ca cbeneficiary cto creceive cthe cbenefits cor cpayout cfrom can cinsurance cpolicy.
cThe cfollowing care cthe cthree csorts cof cbeneficiaries:
Primary c(a cspouse) cis cthe cprimary cbeneficiary, creceiving cbenefits cor ccash cfrom cthe cpolicy cbefore
call cother cbeneficiaries.
In cthe ccase cthat cthe cprimary cbeneficiary cis cdeceased cwhen cthe cinsured cdies, ca csecondary
cbeneficiary c(a cchild) ccan cget cthe cbenefits cor cproceeds.
In cthe ccase cthat cboth cthe cprimary cand csecondary cbeneficiaries care cdeceased cwhen cthe cinsured
cdies, ca ctertiary cbeneficiary c(a cgrandchild) ccan cget cthe cbenefits cor cproceeds.
3. When ccompared cto cother ctypes cof cplans, cadjustable clife cpolicies care?
, Flexible
cIllegal
cStrict
cRisky
cWaiver
ANSWER: cFlexible
In ccomparison cto cother ctypes cof cplans, cadjustable clife cpolicies care cmore cflexible.
cAdjustable clife cinsurance cpolicies cexist cprimarily cbecause cof cthe cflexibility cthey
cprovide.
Adjustable clife cinsurance cpolicies callow cyou cto cadjust cthe cpolicy’s cmain caspects, csuch cas cthe
cpremiums cyou cpay cand cthe cface cvalue.
Conventional cinsurance cis cutilized cas ca cbase, cand cthe cfeatures ccan cthen cbe ctailored cto cthe
cinsured’s cspecific cneeds.
The cinsured chas cthe coption cof crequesting ca ccertain cpremium cpayment cschedule cand
camount. cChanges cto cthe cprotection ctime cand cface camount care calso cpossible.
The cinsured cgains cmore cflexibility cwith can cadjustable cpolicy, cwhile cthe cinsurer ccan ccharge ca
clarger cpremium cthan cwith ca cwhole cor cterm clife cpolicy.
4. Ken cwants cto cget ca clife cinsurance cpolicy cas csoon cas cpossible, cbut che calso cwants cthe
cflexibility cto cshop cabout cand cswitch cplans cif che cdiscovers cone cthat che clikes cbetter. cWhat
cbenefit cwill cKen creceive cfrom cthis cprovision?
Free clook
cSample
cperiod
cReview
cperiod cFirst
clook cTryout
cclause
ANSWER: cFree clook
A c“free-look” cclause callows ca cpolicyholder cto cbuy clife cinsurance cwith cthe coption cof cshopping
caround cand cswitching cpolicies cif cbetter ccoverage cis cfound.
Answers
1. What cis canother cword cfor ca cmathematician cwho canalyzes cthe cprobability cof cspecific cevents
coccurring cand cvalues chealth cor clife cinsurance cpolicies cdepending con cthe cprobability cof cthose
cevents coccurring?
Statistician
cComputator
cActuary
c Economist
cANSWER:
cActuary
An cactuary cis ca cmathematician cwho canalyzes cthe cprobability cof ccertain cevents coccurring cand
cthen cprices cinsurance cpolicies cdepending con cthe cprobability cof cthose cevents coccurring.
2. Mikey, cLen’s cgrandson, cis cone cof chis cthree cchildren. cLen’s cdisability cpolicy cnames chis
cwife cas cthe cprimary cbeneficiary, cbut cshe cdied cfive cyears cago. cAll cof cLen’s cchildren chad
cdied cby cthe ctime che cgoes caway. cThey, clike cMikey, chad cbenefited cfrom chis cgenerosity.
cMikey cis cwhat ckind cof cbeneficiary?
Secondary
cTertiary
cPrimary
None cof cthe
cabove cAll cof cthe
cabove cANSWER:
cTertiary
,The cpolicyholder cnames ca cbeneficiary cto creceive cthe cbenefits cor cpayout cfrom can cinsurance cpolicy.
cThe cfollowing care cthe cthree csorts cof cbeneficiaries:
Primary c(a cspouse) cis cthe cprimary cbeneficiary, creceiving cbenefits cor ccash cfrom cthe cpolicy cbefore
call cother cbeneficiaries.
In cthe ccase cthat cthe cprimary cbeneficiary cis cdeceased cwhen cthe cinsured cdies, ca csecondary
cbeneficiary c(a cchild) ccan cget cthe cbenefits cor cproceeds.
In cthe ccase cthat cboth cthe cprimary cand csecondary cbeneficiaries care cdeceased cwhen cthe cinsured
cdies, ca ctertiary cbeneficiary c(a cgrandchild) ccan cget cthe cbenefits cor cproceeds.
3. When ccompared cto cother ctypes cof cplans, cadjustable clife cpolicies care?
, Flexible
cIllegal
cStrict
cRisky
cWaiver
ANSWER: cFlexible
In ccomparison cto cother ctypes cof cplans, cadjustable clife cpolicies care cmore cflexible.
cAdjustable clife cinsurance cpolicies cexist cprimarily cbecause cof cthe cflexibility cthey
cprovide.
Adjustable clife cinsurance cpolicies callow cyou cto cadjust cthe cpolicy’s cmain caspects, csuch cas cthe
cpremiums cyou cpay cand cthe cface cvalue.
Conventional cinsurance cis cutilized cas ca cbase, cand cthe cfeatures ccan cthen cbe ctailored cto cthe
cinsured’s cspecific cneeds.
The cinsured chas cthe coption cof crequesting ca ccertain cpremium cpayment cschedule cand
camount. cChanges cto cthe cprotection ctime cand cface camount care calso cpossible.
The cinsured cgains cmore cflexibility cwith can cadjustable cpolicy, cwhile cthe cinsurer ccan ccharge ca
clarger cpremium cthan cwith ca cwhole cor cterm clife cpolicy.
4. Ken cwants cto cget ca clife cinsurance cpolicy cas csoon cas cpossible, cbut che calso cwants cthe
cflexibility cto cshop cabout cand cswitch cplans cif che cdiscovers cone cthat che clikes cbetter. cWhat
cbenefit cwill cKen creceive cfrom cthis cprovision?
Free clook
cSample
cperiod
cReview
cperiod cFirst
clook cTryout
cclause
ANSWER: cFree clook
A c“free-look” cclause callows ca cpolicyholder cto cbuy clife cinsurance cwith cthe coption cof cshopping
caround cand cswitching cpolicies cif cbetter ccoverage cis cfound.
