KY Life Insurance Final Exam
Questions with Guaranteed Pass
Solutions 2025-2026 Updated.
whether an insurable interest exists between the individuals - Answer if an applicant for a life
insurance policy and person to be insured by the policy are two different people, the
underwriter would be concerned about what
pay a reduced death benefit - Answer an insured has had a life insurance policy that he
purchased 3 years ago when he was forty years old. he is killed in an automobile accident and it
is discovered that he is actually 45 years old, not 43, as stated on the app. what will the
company do?
family income policy - Answer which special policy combines decreasing term insurance with
whole life insurance to provide the insured's family with a monthly income upon the death of
the insured, while maintaining permanent coverage until the end of the income payments
require evidence of insurability - Answer if an employee wants to enter the group outside of
the open enrollment period, to reduce the adverse selection, the insurer may
guaranteed insurability option - Answer an individual is purchasing a life insurance policy with
a face value of $25,000. while this is all the insurance that he can afford at this time, he wants to
be sure that additional coverage will be available in the future. which of the following options
should be included in the policy?
the cost of coverage is based on the ratio of men and women in the group - Answer which of
the following statements about group life is correct
reduced paid-up - Answer which nonforfeiture option provides coverage for the longest period
of time
cash values can be borrowed at any time - Answer what does "liquidity" refer to in a life
insurance policy
whether an insurable interest exists between the individuals - Answer if an applicant for a life
insurance policy and person to be insured by the policy are two different people, the
, mortality - Answer fewer of L&D insurance's insureds died than were actuarially projected this
year, therefore, fewer death claims were paid. when l&d insurance uses the money saved on
death claims to pay life insurance dividends, it is called
misrepresentation - Answer during sales presentation a producer intentionally makes a
statement which may mislead the insurance applicant. this describes what
funding against general company financial loss - Answer all of the following are business uses
of life insurance except
agents - Answer solicitors are employed by
workers compensation - Answer which of the following is not an example of a business use of
life insurance
debtor in creditor - Answer which of the following is not an example of an insurable interest
coverage until death or age 100 - Answer what characteristic makes whole life permanent
protection
depends on the performance of a separate account - Answer the death benefit in a variable
universal life policy
it is a period during which payments into the annuity grow tax deferred - Answer which of the
following is true regarding the accumulation period of an annuity
19 years and 8 months - Answer a 20 year family income policy was purchased effective April
1, 2001. the insured died four months later on August 1, 2001. the beneficiary receives monthly
income for
the period of time during which accumulated money is converted into income payments -
Answer which of the following best describes what the annuity period is
the donor must give all rights of ownership to the charity - Answer when making a charitable
Questions with Guaranteed Pass
Solutions 2025-2026 Updated.
whether an insurable interest exists between the individuals - Answer if an applicant for a life
insurance policy and person to be insured by the policy are two different people, the
underwriter would be concerned about what
pay a reduced death benefit - Answer an insured has had a life insurance policy that he
purchased 3 years ago when he was forty years old. he is killed in an automobile accident and it
is discovered that he is actually 45 years old, not 43, as stated on the app. what will the
company do?
family income policy - Answer which special policy combines decreasing term insurance with
whole life insurance to provide the insured's family with a monthly income upon the death of
the insured, while maintaining permanent coverage until the end of the income payments
require evidence of insurability - Answer if an employee wants to enter the group outside of
the open enrollment period, to reduce the adverse selection, the insurer may
guaranteed insurability option - Answer an individual is purchasing a life insurance policy with
a face value of $25,000. while this is all the insurance that he can afford at this time, he wants to
be sure that additional coverage will be available in the future. which of the following options
should be included in the policy?
the cost of coverage is based on the ratio of men and women in the group - Answer which of
the following statements about group life is correct
reduced paid-up - Answer which nonforfeiture option provides coverage for the longest period
of time
cash values can be borrowed at any time - Answer what does "liquidity" refer to in a life
insurance policy
whether an insurable interest exists between the individuals - Answer if an applicant for a life
insurance policy and person to be insured by the policy are two different people, the
, mortality - Answer fewer of L&D insurance's insureds died than were actuarially projected this
year, therefore, fewer death claims were paid. when l&d insurance uses the money saved on
death claims to pay life insurance dividends, it is called
misrepresentation - Answer during sales presentation a producer intentionally makes a
statement which may mislead the insurance applicant. this describes what
funding against general company financial loss - Answer all of the following are business uses
of life insurance except
agents - Answer solicitors are employed by
workers compensation - Answer which of the following is not an example of a business use of
life insurance
debtor in creditor - Answer which of the following is not an example of an insurable interest
coverage until death or age 100 - Answer what characteristic makes whole life permanent
protection
depends on the performance of a separate account - Answer the death benefit in a variable
universal life policy
it is a period during which payments into the annuity grow tax deferred - Answer which of the
following is true regarding the accumulation period of an annuity
19 years and 8 months - Answer a 20 year family income policy was purchased effective April
1, 2001. the insured died four months later on August 1, 2001. the beneficiary receives monthly
income for
the period of time during which accumulated money is converted into income payments -
Answer which of the following best describes what the annuity period is
the donor must give all rights of ownership to the charity - Answer when making a charitable
