TN LIFE INSURANCE EXAM REVIEW
(QUESTIONS) & VERIFIED CORRECT
ANSWERS PASSED 100%
Term life insurance shall never provide:
a. death protection
b. low premiums
c. temporary protection
d. a living benefit
d. a living benefit
The premium paid on whole life would be ___________ at the age 25 than age 75:
a. more
b. less
c. same
d. twice the rate
c. same
If the insured lives to age 100 on a whole life coverage, the cash value would be ___________
the face amount:
a. less than
b. equal to
c. more than
d. double
b. equal to
The premium on limited payment whole life vs continuous pay whole life would be:
a. less
b. same
c. more
d. identical
c. more
The cash value on limited payment whole life vs. continuous pay whole life would be:
a. less
b. same
,c. more
d. exactly equal
c. more
This type of life insurance always has a level premium:
a. term
b. whole
c. variable
d. annuity
b. whole
How much of the group life of $75,000 would be taxable to the beneficiary:
a. $25,000
b. $50,000
c. $75,000
d. none
d. none
Adjustable life you may change all except:
a. raise the face amount
b. lower the face amount
c. raise the premium
d. lower the premium
a. raise the face amount
A permanent life policy allows policyholders to tie accumulation values to a stock market
index. (i.e., S&P 500):
a. variable life
b. indexed life
c. term life
d. variable universal life
b. indexed life
Third party ownership (not the owner) policy is owned by:
a. co-workers
, b. insured is owner
c. corporation or spouse
d. owned by policyholders
c. corporation or spouse
On a joint life last survivorship policy who would collect:
a. beneficiaries of the first to die
b. beneficiaries of the second to die
c. 50% paid to each of the above
d. beneficiaries of either of the first to die
b. beneficiaries of the second to die
This provision would waive the breadwinner's premium on their policy should he/she become
disabled for 90 days:
a. waiver of premium
b. juvenile
c. payor benefit
d. disability rider
a. waiver of premium
This provision would waive the child's premium on their policy should the parent die or
become disabled:
a. waiver of premium
b. juvenile
c. payor benefit
d. disability rider
c. payor benefit
This life policy, based on the money purchase concept, allows the insured to adjust the policy
face amount, premium and length of protection:
a. adjustable life
b. variable life
c. universal life
d. changeable life
a. adjustable life
(QUESTIONS) & VERIFIED CORRECT
ANSWERS PASSED 100%
Term life insurance shall never provide:
a. death protection
b. low premiums
c. temporary protection
d. a living benefit
d. a living benefit
The premium paid on whole life would be ___________ at the age 25 than age 75:
a. more
b. less
c. same
d. twice the rate
c. same
If the insured lives to age 100 on a whole life coverage, the cash value would be ___________
the face amount:
a. less than
b. equal to
c. more than
d. double
b. equal to
The premium on limited payment whole life vs continuous pay whole life would be:
a. less
b. same
c. more
d. identical
c. more
The cash value on limited payment whole life vs. continuous pay whole life would be:
a. less
b. same
,c. more
d. exactly equal
c. more
This type of life insurance always has a level premium:
a. term
b. whole
c. variable
d. annuity
b. whole
How much of the group life of $75,000 would be taxable to the beneficiary:
a. $25,000
b. $50,000
c. $75,000
d. none
d. none
Adjustable life you may change all except:
a. raise the face amount
b. lower the face amount
c. raise the premium
d. lower the premium
a. raise the face amount
A permanent life policy allows policyholders to tie accumulation values to a stock market
index. (i.e., S&P 500):
a. variable life
b. indexed life
c. term life
d. variable universal life
b. indexed life
Third party ownership (not the owner) policy is owned by:
a. co-workers
, b. insured is owner
c. corporation or spouse
d. owned by policyholders
c. corporation or spouse
On a joint life last survivorship policy who would collect:
a. beneficiaries of the first to die
b. beneficiaries of the second to die
c. 50% paid to each of the above
d. beneficiaries of either of the first to die
b. beneficiaries of the second to die
This provision would waive the breadwinner's premium on their policy should he/she become
disabled for 90 days:
a. waiver of premium
b. juvenile
c. payor benefit
d. disability rider
a. waiver of premium
This provision would waive the child's premium on their policy should the parent die or
become disabled:
a. waiver of premium
b. juvenile
c. payor benefit
d. disability rider
c. payor benefit
This life policy, based on the money purchase concept, allows the insured to adjust the policy
face amount, premium and length of protection:
a. adjustable life
b. variable life
c. universal life
d. changeable life
a. adjustable life
