LIFE INSURANCE PRACTICE EXAM ANSWERS WITH ACTUAL
QUESTIONS GRADED A+ 100% VERIFIED.
Insurable Receipt ANS << The receipt given to a life insurance applicant when the
application is completed and the initial premium is received is called a(n)
Representations ANS << Statements in the application for insurance that are
believed to be true to the best of the applicant’s knowledge are
Provide the annuitant with an interest rate that is lesser of the guaranteed or
current rate ANS << An annuity is considered fixed when it does all of the following
EXCEPT
Continuous Premium (straight) life ANS << The most common type of whole life
insurance where premiums are payable over the whole life of the insured to age
100 is called.
, Entire contract ANS << The policy and a copy of the application, along with any
riders and amendments, is called the
Not taxable ANS << Money borrowed from the policy's cash value is
All annuities (Variable, Deferred & Equity Indexed) ANS << Which of the following
annuity products requires an agent to hold a securities license?
Life income annuity ANS << Which type of annuity settlement stops when the
annuitant dies?
59 1/2 ANS << At what age can a participant receive distributions from a qualified
plan without incurring a 10% penalty
Buy-Sell Agreement ANS << Two business partners own life insurance on each
other. If one partner dies, which of the following contracts will allow the surviving
partner to use the death benefit to purchase the deceased's business interests?
Adjustable life ANS << Which type of policy allows the insured to change the
amount of the dawah benefit, the amount of premium, or the type of coverage S
their needs change?
Either the cash value or the premiums paid, whichever is greater ANS << If an
annuitant dies during the accumulation period, what will the beneficiary receive?
No admitted ANS << Any insurer who is NOT approved to do business in this state is
considered
QUESTIONS GRADED A+ 100% VERIFIED.
Insurable Receipt ANS << The receipt given to a life insurance applicant when the
application is completed and the initial premium is received is called a(n)
Representations ANS << Statements in the application for insurance that are
believed to be true to the best of the applicant’s knowledge are
Provide the annuitant with an interest rate that is lesser of the guaranteed or
current rate ANS << An annuity is considered fixed when it does all of the following
EXCEPT
Continuous Premium (straight) life ANS << The most common type of whole life
insurance where premiums are payable over the whole life of the insured to age
100 is called.
, Entire contract ANS << The policy and a copy of the application, along with any
riders and amendments, is called the
Not taxable ANS << Money borrowed from the policy's cash value is
All annuities (Variable, Deferred & Equity Indexed) ANS << Which of the following
annuity products requires an agent to hold a securities license?
Life income annuity ANS << Which type of annuity settlement stops when the
annuitant dies?
59 1/2 ANS << At what age can a participant receive distributions from a qualified
plan without incurring a 10% penalty
Buy-Sell Agreement ANS << Two business partners own life insurance on each
other. If one partner dies, which of the following contracts will allow the surviving
partner to use the death benefit to purchase the deceased's business interests?
Adjustable life ANS << Which type of policy allows the insured to change the
amount of the dawah benefit, the amount of premium, or the type of coverage S
their needs change?
Either the cash value or the premiums paid, whichever is greater ANS << If an
annuitant dies during the accumulation period, what will the beneficiary receive?
No admitted ANS << Any insurer who is NOT approved to do business in this state is
considered
