A.D. Banker - Comprehensive Exam Practice (1)- 401 questions- with complete solutions
With a Contributory Group Life Plan, what percentage of the employees must participate? correct answer: At least 75% A Contributory Plan is one in which the participants pay all or a portion of the premiums. The high enrollment percentage, 75%, helps to minimize the risk of adverse selection. Which of the following is a major risk to an employee covered under an employer's group life insurance plan? correct answer: The sponsor can elect to discontinue the plan If employees are relying solely on an employer's group life insurance coverage for their protection needs, they need to be made aware that the plan sponsor can discontinue the plan. Alice is the insured, Bill is the primary beneficiary, and Claire is the contingent beneficiary. Bill dies and Alice names Dale as the new primary beneficiary. Alice dies, so who receives the policy proceeds? correct answer: Dale Dale is the living primary beneficiary when Alice dies. Alice has the right to name, change, and re-name beneficiaries at any time. Tom elects the Life Income with 10-year Period Certain settlement option. Tom dies in year 6. The beneficiary receives payments for _______. correct answer: 4 years With Life Income Period Certain, payments
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- Subido en
- 27 de mayo de 2023
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- 2022/2023
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- Examen
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