FINAL EXAM NEW MEXICO LIFE ONLY
QUESTIONS AND ANSWERS 100% CORRECT
ANSWERS ALREADY
GRADED A+
Q: cWhat cis can cinsurance ccontract cthat cidentifies cindividuals cby
crelationship cto ca cspecific corganization?
Ans: c group cinsurance
Q: c When can cinsured cunder ca cgroup clife cinsurance cplan cin cNM
celects cthe cconversation coption, cthe cnew cpolicy cis cissued
Ans: c Without crequiring cevidence cof cinsurability
,Q: c What cis canother cname cfor ca cKeogh cplan
Ans: c HR c10 cplan
Q: c An cinsurance cpolicy cmay cbe cissued cwith ca cpreferred cinsurance
cpremium cin call cthese csituations cEXEPT
Ans: c Living cin ca crural carea
Q: c All cof cthese cstatements cconcerning cgroup ccredit clife cinsurance care
cfalse cEXEPT
Ans: c The cface camount cis cbased con cthe coutstanding cloan cbalance
Q: c Risk c is cthe cprocess cof canalyzing cexposures cthat ccreate crisk
cand cdesigning cprograms cto chandle cthem
Ans: c management
Q: c XYZ cInsurance cCompany cgives cdirect cauthority cto cits cproducers cto
csell cinsurance cthrough can cagency ccontract, cbut cnothing cis cstated
cregarding cthe
, collection cof cpremiums. cWhich cauthority cgrants cthe cproducer cthe cright
cto ccollect cpremiums?
Ans: c implied cauthority
Q: c When cthe csuperintendent cbelieves can cagent cis ccausing csubstantial
cand cmaterial charm, cthe csuperintendent chas cthe cauthority cto
Ans: c issue ca ccease cand cdesist corder cagainst cthe cagent
Q: c Who cnormally cpays cthe cpremiums cfor cgroup ccredit clife cinsurance?
Ans: c borrower
Q: c For cpolicyholders cin cthe csame crisk cclassification, cit cis cunlawful cto
Ans: c Charge cdifferent cpremiums
Q: c What chappens cto cthe ccash cvalue cof ca cmarket cvalue cadjusted cannuity
cif cit's csurrendered cprior cto cthe cend cof cthe cstated cguarantee cperiod
Ans: c Subject cto cmarket cvalue cadjustment
Q: c What cmust cbe cgiven cto ca clife cinsurance capplicant cwhen cthe cagent
creceives can capplication cand cthe cinitial cpremium
Ans: c Conditional creceipt
Q: c Which csituation cwould cnot crequire cthe cinsureds cconsent cwhen ca clife
cinsurance cpolicy cis cissued
Ans: c A cpolicy cis cpurchased cby ca cparent cfor ca cminor cchild
Q: c A cbusiness cbecoming cincorporated cis can cexample cof crisk c .
Ans: c to ctransfer
Q: c The cSuperintendent cmay csuspend can cagent's clicense cwhen cthe cagent
Ans: c Rebates ca cportion cof cthe ccommission cto cthe cinsured
QUESTIONS AND ANSWERS 100% CORRECT
ANSWERS ALREADY
GRADED A+
Q: cWhat cis can cinsurance ccontract cthat cidentifies cindividuals cby
crelationship cto ca cspecific corganization?
Ans: c group cinsurance
Q: c When can cinsured cunder ca cgroup clife cinsurance cplan cin cNM
celects cthe cconversation coption, cthe cnew cpolicy cis cissued
Ans: c Without crequiring cevidence cof cinsurability
,Q: c What cis canother cname cfor ca cKeogh cplan
Ans: c HR c10 cplan
Q: c An cinsurance cpolicy cmay cbe cissued cwith ca cpreferred cinsurance
cpremium cin call cthese csituations cEXEPT
Ans: c Living cin ca crural carea
Q: c All cof cthese cstatements cconcerning cgroup ccredit clife cinsurance care
cfalse cEXEPT
Ans: c The cface camount cis cbased con cthe coutstanding cloan cbalance
Q: c Risk c is cthe cprocess cof canalyzing cexposures cthat ccreate crisk
cand cdesigning cprograms cto chandle cthem
Ans: c management
Q: c XYZ cInsurance cCompany cgives cdirect cauthority cto cits cproducers cto
csell cinsurance cthrough can cagency ccontract, cbut cnothing cis cstated
cregarding cthe
, collection cof cpremiums. cWhich cauthority cgrants cthe cproducer cthe cright
cto ccollect cpremiums?
Ans: c implied cauthority
Q: c When cthe csuperintendent cbelieves can cagent cis ccausing csubstantial
cand cmaterial charm, cthe csuperintendent chas cthe cauthority cto
Ans: c issue ca ccease cand cdesist corder cagainst cthe cagent
Q: c Who cnormally cpays cthe cpremiums cfor cgroup ccredit clife cinsurance?
Ans: c borrower
Q: c For cpolicyholders cin cthe csame crisk cclassification, cit cis cunlawful cto
Ans: c Charge cdifferent cpremiums
Q: c What chappens cto cthe ccash cvalue cof ca cmarket cvalue cadjusted cannuity
cif cit's csurrendered cprior cto cthe cend cof cthe cstated cguarantee cperiod
Ans: c Subject cto cmarket cvalue cadjustment
Q: c What cmust cbe cgiven cto ca clife cinsurance capplicant cwhen cthe cagent
creceives can capplication cand cthe cinitial cpremium
Ans: c Conditional creceipt
Q: c Which csituation cwould cnot crequire cthe cinsureds cconsent cwhen ca clife
cinsurance cpolicy cis cissued
Ans: c A cpolicy cis cpurchased cby ca cparent cfor ca cminor cchild
Q: c A cbusiness cbecoming cincorporated cis can cexample cof crisk c .
Ans: c to ctransfer
Q: c The cSuperintendent cmay csuspend can cagent's clicense cwhen cthe cagent
Ans: c Rebates ca cportion cof cthe ccommission cto cthe cinsured
