CPMA Exam| Questions and
answers | Updated RATED A+
NEW EDITION
Pure or straight life - answer- Which of the following annuity benefit payment options
would generate the highest monthly payments to the contract owner upon annuitization?
Paid-up additions
1-year term
Cash - answer- All of the following are dividend options on a participating life insurance
policy:
Insured - answer- The person upon whose life an annuity is based is known as the:
Reduced paid-up - answer- When a policyowner uses the cash value in their policy to
buy a lesser amount of permanent life insurance, they have exercised which
nonforfeiture option:
Interest only - answer- Which of the following life insurance settlement options enables
the beneficiary to conserve the proceeds of a life insurance policy?
The account value - answer- In the case of a variable annuity sold to a senior citizen in
this state for which the owner has directed that the premium be invested in the mutual
funds underlying the contract during the 30-day cancellation period, cancellation during
that period entitles the owner to a refund of:
They are purchased by those who are worried about outliving their savings.
They are not suitable as short term investments.
They may be used as a life insurance settlement option. - answer- All of the following
are true regarding annuities
Group (Life Insruance) - answer- Which of the following would not be considered to be
ordinary life insurance?
They are not guaranteed
They are legally defined as a return of premium and are not taxable
answers | Updated RATED A+
NEW EDITION
Pure or straight life - answer- Which of the following annuity benefit payment options
would generate the highest monthly payments to the contract owner upon annuitization?
Paid-up additions
1-year term
Cash - answer- All of the following are dividend options on a participating life insurance
policy:
Insured - answer- The person upon whose life an annuity is based is known as the:
Reduced paid-up - answer- When a policyowner uses the cash value in their policy to
buy a lesser amount of permanent life insurance, they have exercised which
nonforfeiture option:
Interest only - answer- Which of the following life insurance settlement options enables
the beneficiary to conserve the proceeds of a life insurance policy?
The account value - answer- In the case of a variable annuity sold to a senior citizen in
this state for which the owner has directed that the premium be invested in the mutual
funds underlying the contract during the 30-day cancellation period, cancellation during
that period entitles the owner to a refund of:
They are purchased by those who are worried about outliving their savings.
They are not suitable as short term investments.
They may be used as a life insurance settlement option. - answer- All of the following
are true regarding annuities
Group (Life Insruance) - answer- Which of the following would not be considered to be
ordinary life insurance?
They are not guaranteed
They are legally defined as a return of premium and are not taxable
