TN Life Insurance Exam Review (Questions)
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1. Term life insurance shall never provide: d. a living benefit
a. death protection
b. low premiums
c. temporary protection
d. a living benefit
2. The premium paid on whole life would be ___________ c. same
at the age 25 than age 75:
a. more
b. less
c. same
d. twice the rate
3. If the insured lives to age 100 on a whole life coverage, b. equal to
the cash value would be ___________ the face amount:
a. less than
b. equal to
c. more than
d. double
4. The premium on limited payment whole life vs contin- c. more
uous pay whole life would be:
a. less
b. same
c. more
d. identical
5. The cash value on limited payment whole life vs. con- c. more
tinuous pay whole life would be:
, TN Life Insurance Exam Review (Questions)
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a. less
b. same
c. more
d. exactly equal
6. This type of life insurance always has a level premium: b. whole
a. term
b. whole
c. variable
d. annuity
7. How much of the group life of $75,000 would be tax- d. none
able to the beneficiary:
a. $25,000
b. $50,000
c. $75,000
d. none
8. Adjustable life you may change all except: a. raise the face amount
a. raise the face amount
b. lower the face amount
c. raise the premium
d. lower the premium
9. A permanent life policy allows policyholders to tie ac- b. indexed life
cumulation values to a stock market index. (i.e., S&P
500):
a. variable life
b. indexed life
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c. term life
d. variable universal life
10. Third party ownership (not the owner) policy is owned c. corporation or spouse
by:
a. co-workers
b. insured is owner
c. corporation or spouse
d. owned by policyholders
11. On a joint life last survivorship policy who would col- b. beneficiaries of the sec-
lect: ond to die
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
12. This provision would waive the breadwinner's premi- a. waiver of premium
um on their policy should he/she become disabled for
90 days:
a. waiver of premium
b. juvenile
c. payor benefit
d. disability rider
13. This provision would waive the child's premium on c. payor benefit
their policy should the parent die or become dis-
abled:
a. waiver of premium
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b. juvenile
c. payor benefit
d. disability rider
14. This life policy, based on the money purchase concept, a. adjustable life
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
15. This life product could be defined as a one-year re- b. universal life
newable term insurance and a cash account realizing
current interest rates:
a. adjustable life
b. universal life
c. variable life
d. variable universal life
16. This product was the first to take advantage of the c. variable life
equity markets as a hedge against inflation:
a. adjustable life
b. universal life
c. variable life
d. limited pay
17. This rider allows the insured to purchase additional b. guaranteed insurability
amounts of insurance between ages 25 and 40 with-
out proof of insurability:
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1. Term life insurance shall never provide: d. a living benefit
a. death protection
b. low premiums
c. temporary protection
d. a living benefit
2. The premium paid on whole life would be ___________ c. same
at the age 25 than age 75:
a. more
b. less
c. same
d. twice the rate
3. If the insured lives to age 100 on a whole life coverage, b. equal to
the cash value would be ___________ the face amount:
a. less than
b. equal to
c. more than
d. double
4. The premium on limited payment whole life vs contin- c. more
uous pay whole life would be:
a. less
b. same
c. more
d. identical
5. The cash value on limited payment whole life vs. con- c. more
tinuous pay whole life would be:
, TN Life Insurance Exam Review (Questions)
Study online at https://quizlet.com/_7lua2e
a. less
b. same
c. more
d. exactly equal
6. This type of life insurance always has a level premium: b. whole
a. term
b. whole
c. variable
d. annuity
7. How much of the group life of $75,000 would be tax- d. none
able to the beneficiary:
a. $25,000
b. $50,000
c. $75,000
d. none
8. Adjustable life you may change all except: a. raise the face amount
a. raise the face amount
b. lower the face amount
c. raise the premium
d. lower the premium
9. A permanent life policy allows policyholders to tie ac- b. indexed life
cumulation values to a stock market index. (i.e., S&P
500):
a. variable life
b. indexed life
, TN Life Insurance Exam Review (Questions)
Study online at https://quizlet.com/_7lua2e
c. term life
d. variable universal life
10. Third party ownership (not the owner) policy is owned c. corporation or spouse
by:
a. co-workers
b. insured is owner
c. corporation or spouse
d. owned by policyholders
11. On a joint life last survivorship policy who would col- b. beneficiaries of the sec-
lect: ond to die
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
12. This provision would waive the breadwinner's premi- a. waiver of premium
um on their policy should he/she become disabled for
90 days:
a. waiver of premium
b. juvenile
c. payor benefit
d. disability rider
13. This provision would waive the child's premium on c. payor benefit
their policy should the parent die or become dis-
abled:
a. waiver of premium
, TN Life Insurance Exam Review (Questions)
Study online at https://quizlet.com/_7lua2e
b. juvenile
c. payor benefit
d. disability rider
14. This life policy, based on the money purchase concept, a. adjustable life
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
15. This life product could be defined as a one-year re- b. universal life
newable term insurance and a cash account realizing
current interest rates:
a. adjustable life
b. universal life
c. variable life
d. variable universal life
16. This product was the first to take advantage of the c. variable life
equity markets as a hedge against inflation:
a. adjustable life
b. universal life
c. variable life
d. limited pay
17. This rider allows the insured to purchase additional b. guaranteed insurability
amounts of insurance between ages 25 and 40 with-
out proof of insurability:
