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Alabama Life & Health Insurance Exam Test Bank 2
Newest Actual Exam With Complete Questions And
Correct Detailed Answers ||Verified Exam!!! (Verified
Answers) |Already Graded A+||Newest Exam!!!
Variable Life insurance is based on what kind of premium?
a) Increasing
b) Decreasing
c) Graded
d) Level fixed - Answer-D
How long is an open enrollment period for Medicare
supplement policies?
a) 6 months
b) 1 year
c) 30 days
d) 90 days - Answer-A
Most policies will pay the accident death benefits as long
as the death is caused by the accident and occurs within
a) 30 days.
b) 60 days.
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c) 90 days.
d) 120 days. - Answer-C
In Modified Life policies, what happens to the premium?
a) It always remains level.
b) It is higher during the first policy years.
c) It varies at the beginning, but levels out by the end of
the third year.
d) It is level at the beginning and increases after the first
few years. - Answer-D
All of the following qualify for Medicare Part A EXCEPT
a) Anyone who is at the end stage of renal disease.
b) Anyone who is over 65, not covered by Social Security,
and is willing to pay premium.
c) Anyone who is willing to pay a premium.
d) Anyone that qualifies through Social Security. - Answer-
C
An insured owns a $50,000 whole life policy. At age 47,
the insured decides to cancel his policy and exercise the
extended term option for the policy's cash value, which is
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currently $20,000. What would be the face amount of the
new term policy?
a) $20,000
b) $25,000
c) $50,000
d) The face amount will be determined by the insurer. -
Answer-C
Which of the following authorities is authorized to issue a
temporary insurance producer's license?
a) Federal Insurance Licensing Association
b) State Insurance Board
c) Commissioner
d) NAIC - Answer-C
Which of the following is NOT true regarding Equity
Indexed Annuities?
a) The insurance company keeps a percentage of the
returns.
b) They have guaranteed minimum interest rates.
c) They are less risky than variable annuities.
d) They earn lower interest rates than fixed annuities. -
Answer-D
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A producer is helping a married couple determine the
financial needs of their children in the event one or both
should die prematurely. This is a personal use of life
insurance known as
a) Survivorship insurance
b) Juvenile protection provision
c) Survivor protection
d) Life planning - Answer-C
In disability income insurance, the own occupation
definition of disability applies
a) During the elimination period.
b) As long as an individual is unable to work.
c) For the first 2 years of a disability.
d) During the waiting period. - Answer-C
In reference to the standard Medicare Supplement
benefits plans, what does the term standard mean?
a) All plans must include basic benefits A-N.
b) Coverage options and conditions are developed for
average individuals.
c) All providers will have the same coverage options and
conditions for each plan.
Alabama Life & Health Insurance Exam Test Bank 2
Newest Actual Exam With Complete Questions And
Correct Detailed Answers ||Verified Exam!!! (Verified
Answers) |Already Graded A+||Newest Exam!!!
Variable Life insurance is based on what kind of premium?
a) Increasing
b) Decreasing
c) Graded
d) Level fixed - Answer-D
How long is an open enrollment period for Medicare
supplement policies?
a) 6 months
b) 1 year
c) 30 days
d) 90 days - Answer-A
Most policies will pay the accident death benefits as long
as the death is caused by the accident and occurs within
a) 30 days.
b) 60 days.
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c) 90 days.
d) 120 days. - Answer-C
In Modified Life policies, what happens to the premium?
a) It always remains level.
b) It is higher during the first policy years.
c) It varies at the beginning, but levels out by the end of
the third year.
d) It is level at the beginning and increases after the first
few years. - Answer-D
All of the following qualify for Medicare Part A EXCEPT
a) Anyone who is at the end stage of renal disease.
b) Anyone who is over 65, not covered by Social Security,
and is willing to pay premium.
c) Anyone who is willing to pay a premium.
d) Anyone that qualifies through Social Security. - Answer-
C
An insured owns a $50,000 whole life policy. At age 47,
the insured decides to cancel his policy and exercise the
extended term option for the policy's cash value, which is
,3|Page
currently $20,000. What would be the face amount of the
new term policy?
a) $20,000
b) $25,000
c) $50,000
d) The face amount will be determined by the insurer. -
Answer-C
Which of the following authorities is authorized to issue a
temporary insurance producer's license?
a) Federal Insurance Licensing Association
b) State Insurance Board
c) Commissioner
d) NAIC - Answer-C
Which of the following is NOT true regarding Equity
Indexed Annuities?
a) The insurance company keeps a percentage of the
returns.
b) They have guaranteed minimum interest rates.
c) They are less risky than variable annuities.
d) They earn lower interest rates than fixed annuities. -
Answer-D
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A producer is helping a married couple determine the
financial needs of their children in the event one or both
should die prematurely. This is a personal use of life
insurance known as
a) Survivorship insurance
b) Juvenile protection provision
c) Survivor protection
d) Life planning - Answer-C
In disability income insurance, the own occupation
definition of disability applies
a) During the elimination period.
b) As long as an individual is unable to work.
c) For the first 2 years of a disability.
d) During the waiting period. - Answer-C
In reference to the standard Medicare Supplement
benefits plans, what does the term standard mean?
a) All plans must include basic benefits A-N.
b) Coverage options and conditions are developed for
average individuals.
c) All providers will have the same coverage options and
conditions for each plan.
