IIAP Study guides, Class notes & Summaries
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IIAP MOCK EXAMS 2024 ALREADY SCORED A+
- Exam (elaborations) • 21 pages • 2024
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IIAP MOCK EXAMS 2024 ALREADY SCORED A+
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IIAP MOCK EXAM 2023 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION
- Exam (elaborations) • 21 pages • 2023
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A single premium policy means a policy 
 
a. requiring only a single premium each year 
b. under which only one premium payment is required 
c. only available to single individuals 
d. on which no more than one premium can be paid in advance 
 
*Single premium policy only requires one premium payment(lump sum). - Answer<>b 
 
A fixed amount added to the premium of a premium given policy regardless of policy size is known as 
 
a. policy fee 
b. policy reserve 
c. policy values 
d. extra ...
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