Practice REAL 2025 Final Exam

Practice REAL 2025
Final Exam Questions
with Verified Answers
Before a life insurance policy is issued, which of these components of the
contract is required?
 Applicant's signature on application

 Beneficiary's signature

 A conditional receipt

 Attending Physician Statement (APS) – ANSWERS
 Applicant's signature on application

Which of these actions should a producer take when submitting an insurance
application to an insurer?

 Issue a binding receipt to applicant if no initial premium is submitted
 Disclose to the applicant the amount of commissions to be earned on this
transaction
 Inform insurer of relevant information not included on the application
 Arrange for a copy of the Attending Physician Statement (APS) to be sent to the
producer – ANSWERS
 Inform insurer of relevant information not included on the application

Which of these types of life insurance allows the policyowner to have level
premiums and to also choose from a selection of investment options?

 Modified Whole Life
 Variable Life
 Universal Life
 Adjustable Life – ANSWERS
 Variable Life

Which type of life policy contains a monthly mortality charge as well as self-
directed investment choices?


 Joint Life