LIFE INSURANCE EXAM QUESTIONS AND ANSWERS
What ccis ccanother ccword ccfor cca ccmathematician ccwho ccanalyzes ccthe ccprobability ccof ccspecific
ccevents ccoccurring ccand ccvalues cchealth ccor cclife ccinsurance ccpolicies ccdepending ccon ccthe
ccprobability ccof ccthose ccevents ccoccurring?
Statistician
ccComputator
ccActuary
ccEconomist
ccANSWER:
ccActuary
An ccactuary ccis cca ccmathematician ccwho ccanalyzes ccthe ccprobability ccof cccertain ccevents
ccoccurring ccand ccthen ccprices ccinsurance ccpolicies ccdepending ccon ccthe ccprobability ccof ccthose
ccevents ccoccurring.
1. Mikey, ccLen’s ccgrandson, ccis ccone ccof cchis ccthree ccchildren. ccLen’s ccdisability ccpolicy
ccnames cchis ccwife ccas ccthe ccprimary ccbeneficiary, ccbut ccshe ccdied ccfive ccyears ccago. ccAll ccof
ccLen’s ccchildren cchad ccdied ccby ccthe cctime cche ccgoes ccaway. ccThey, cclike ccMikey, cchad
ccbenefited ccfrom cchis ccgenerosity. ccMikey ccis ccwhat cckind ccof ccbeneficiary?
Secondary
ccTertiary
ccPrimary
None ccof ccthe
ccabove ccAll ccof
ccthe ccabove
ccANSWER:
ccTertiary
The ccpolicyholder ccnames cca ccbeneficiary ccto ccreceive ccthe ccbenefits ccor ccpayout ccfrom ccan
ccinsurance ccpolicy. ccThe ccfollowing ccare ccthe ccthree ccsorts ccof ccbeneficiaries:
,Primary cc(a ccspouse) ccis ccthe ccprimary ccbeneficiary, ccreceiving ccbenefits ccor cccash ccfrom ccthe
ccpolicy ccbefore ccall ccother ccbeneficiaries.
In ccthe cccase ccthat ccthe ccprimary ccbeneficiary ccis ccdeceased ccwhen ccthe ccinsured ccdies, cca
ccsecondary ccbeneficiary cc(a ccchild) cccan ccget ccthe ccbenefits ccor ccproceeds.
In ccthe cccase ccthat ccboth ccthe ccprimary ccand ccsecondary ccbeneficiaries ccare ccdeceased ccwhen
ccthe ccinsured ccdies, cca cctertiary ccbeneficiary cc(a ccgrandchild) cccan ccget ccthe ccbenefits ccor
ccproceeds.
2. When cccompared ccto ccother cctypes ccof ccplans, ccadjustable cclife ccpolicies ccare?
, Flexible
ccIllegal
ccStrict
ccRisky
ccWaive
r
ANSWER: ccFlexible
In cccomparison ccto ccother cctypes ccof ccplans, ccadjustable cclife ccpolicies ccare ccmore
ccflexible. ccAdjustable cclife ccinsurance ccpolicies ccexist ccprimarily ccbecause ccof ccthe
ccflexibility ccthey ccprovide.
Adjustable cclife ccinsurance ccpolicies ccallow ccyou ccto ccadjust ccthe ccpolicy’s ccmain ccaspects, ccsuch
ccas ccthe ccpremiums ccyou ccpay ccand ccthe ccface ccvalue.
Conventional ccinsurance ccis ccutilized ccas cca ccbase, ccand ccthe ccfeatures cccan ccthen ccbe
cctailored ccto ccthe ccinsured’s ccspecific ccneeds.
The ccinsured cchas ccthe ccoption ccof ccrequesting cca cccertain ccpremium ccpayment
ccschedule ccand ccamount. ccChanges ccto ccthe ccprotection cctime ccand ccface ccamount ccare
ccalso ccpossible.
The ccinsured ccgains ccmore ccflexibility ccwith ccan ccadjustable ccpolicy, ccwhile ccthe ccinsurer
cccan cccharge cca cclarger ccpremium ccthan ccwith cca ccwhole ccor ccterm cclife ccpolicy.
3. Ken ccwants ccto ccget cca cclife ccinsurance ccpolicy ccas ccsoon ccas ccpossible, ccbut cche ccalso ccwants
ccthe ccflexibility ccto ccshop ccabout ccand ccswitch ccplans ccif cche ccdiscovers ccone ccthat cche cclikes
ccbetter. ccWhat ccbenefit ccwill ccKen ccreceive ccfrom ccthis ccprovision?
Free cclook
ccSample
ccperiod
ccReview
ccperiod ccFirst
cclook ccTryout
ccclause
ANSWER: ccFree cclook
What ccis ccanother ccword ccfor cca ccmathematician ccwho ccanalyzes ccthe ccprobability ccof ccspecific
ccevents ccoccurring ccand ccvalues cchealth ccor cclife ccinsurance ccpolicies ccdepending ccon ccthe
ccprobability ccof ccthose ccevents ccoccurring?
Statistician
ccComputator
ccActuary
ccEconomist
ccANSWER:
ccActuary
An ccactuary ccis cca ccmathematician ccwho ccanalyzes ccthe ccprobability ccof cccertain ccevents
ccoccurring ccand ccthen ccprices ccinsurance ccpolicies ccdepending ccon ccthe ccprobability ccof ccthose
ccevents ccoccurring.
1. Mikey, ccLen’s ccgrandson, ccis ccone ccof cchis ccthree ccchildren. ccLen’s ccdisability ccpolicy
ccnames cchis ccwife ccas ccthe ccprimary ccbeneficiary, ccbut ccshe ccdied ccfive ccyears ccago. ccAll ccof
ccLen’s ccchildren cchad ccdied ccby ccthe cctime cche ccgoes ccaway. ccThey, cclike ccMikey, cchad
ccbenefited ccfrom cchis ccgenerosity. ccMikey ccis ccwhat cckind ccof ccbeneficiary?
Secondary
ccTertiary
ccPrimary
None ccof ccthe
ccabove ccAll ccof
ccthe ccabove
ccANSWER:
ccTertiary
The ccpolicyholder ccnames cca ccbeneficiary ccto ccreceive ccthe ccbenefits ccor ccpayout ccfrom ccan
ccinsurance ccpolicy. ccThe ccfollowing ccare ccthe ccthree ccsorts ccof ccbeneficiaries:
,Primary cc(a ccspouse) ccis ccthe ccprimary ccbeneficiary, ccreceiving ccbenefits ccor cccash ccfrom ccthe
ccpolicy ccbefore ccall ccother ccbeneficiaries.
In ccthe cccase ccthat ccthe ccprimary ccbeneficiary ccis ccdeceased ccwhen ccthe ccinsured ccdies, cca
ccsecondary ccbeneficiary cc(a ccchild) cccan ccget ccthe ccbenefits ccor ccproceeds.
In ccthe cccase ccthat ccboth ccthe ccprimary ccand ccsecondary ccbeneficiaries ccare ccdeceased ccwhen
ccthe ccinsured ccdies, cca cctertiary ccbeneficiary cc(a ccgrandchild) cccan ccget ccthe ccbenefits ccor
ccproceeds.
2. When cccompared ccto ccother cctypes ccof ccplans, ccadjustable cclife ccpolicies ccare?
, Flexible
ccIllegal
ccStrict
ccRisky
ccWaive
r
ANSWER: ccFlexible
In cccomparison ccto ccother cctypes ccof ccplans, ccadjustable cclife ccpolicies ccare ccmore
ccflexible. ccAdjustable cclife ccinsurance ccpolicies ccexist ccprimarily ccbecause ccof ccthe
ccflexibility ccthey ccprovide.
Adjustable cclife ccinsurance ccpolicies ccallow ccyou ccto ccadjust ccthe ccpolicy’s ccmain ccaspects, ccsuch
ccas ccthe ccpremiums ccyou ccpay ccand ccthe ccface ccvalue.
Conventional ccinsurance ccis ccutilized ccas cca ccbase, ccand ccthe ccfeatures cccan ccthen ccbe
cctailored ccto ccthe ccinsured’s ccspecific ccneeds.
The ccinsured cchas ccthe ccoption ccof ccrequesting cca cccertain ccpremium ccpayment
ccschedule ccand ccamount. ccChanges ccto ccthe ccprotection cctime ccand ccface ccamount ccare
ccalso ccpossible.
The ccinsured ccgains ccmore ccflexibility ccwith ccan ccadjustable ccpolicy, ccwhile ccthe ccinsurer
cccan cccharge cca cclarger ccpremium ccthan ccwith cca ccwhole ccor ccterm cclife ccpolicy.
3. Ken ccwants ccto ccget cca cclife ccinsurance ccpolicy ccas ccsoon ccas ccpossible, ccbut cche ccalso ccwants
ccthe ccflexibility ccto ccshop ccabout ccand ccswitch ccplans ccif cche ccdiscovers ccone ccthat cche cclikes
ccbetter. ccWhat ccbenefit ccwill ccKen ccreceive ccfrom ccthis ccprovision?
Free cclook
ccSample
ccperiod
ccReview
ccperiod ccFirst
cclook ccTryout
ccclause
ANSWER: ccFree cclook
