Pearson Vue Insurance Practice Exam
Questions and Answers (100% Correct
Answers) Already Graded A+
Under the social security retirement benefits, all of the
following factors will influence how much a retiring
individual will receive as a monthly income benefit except
the individual's [ Ans: ] Sex
In life insurance, insurance interest must exist at the time
the [ Ans: ] Producer writes an application on a proposed
insured
Which of the following statements is NOT correct about
representations? [ Ans: ] They are true in every respect
An insurance producer takes an application for a life
insurance policy but does not collect the initial premium.
On delivery of the policy to the proposed insured, the
producer must collect the initial premium and which of
the following? [ Ans: ] The insured's signed statement of
continued good health
Which of the following retirement plans is tax-qualified? [
Ans: ] Defined contribution
Which of the following statements is correct about the
paid-up additions in a participating whole life policy? [
Ans: ] They are purchased on an attained age basis
, The right to change a beneficiary designation is reserved
for the: [ Ans: ] Policyowner
Which of the following provisions in a life policy specifies
the manner in which proceeds will be paid to a beneficiary
on the death of the insured? [ Ans: ] Settlement options
Two business partners own life insurance on each other. If
one partner dies, which of the following contracts will
allow the other partner to buy 100 percent of the business
interest? [ Ans: ] buy-sell agreement
The waiver of premium provision of a life policy allows
the insurer to take which of the following actions? [ Ans: ]
waive an insured's premiums if the insured becomes
totally disabled before a certian age
A life insurance application is incomplete if it is missing
the signature of which of the following? [ Ans: ] The
proposed adult insured
Which of the following statements is correct about group
life conversion privileges? [ Ans: ] Death during the
conversion period is covered if the departing employee
chose not to conver the policy.
In the event of an insured's death, which of the following
provides an income for the family during a designated
period of time followed by a lump sum death benefit? [
Ans: ] Family income rider
Questions and Answers (100% Correct
Answers) Already Graded A+
Under the social security retirement benefits, all of the
following factors will influence how much a retiring
individual will receive as a monthly income benefit except
the individual's [ Ans: ] Sex
In life insurance, insurance interest must exist at the time
the [ Ans: ] Producer writes an application on a proposed
insured
Which of the following statements is NOT correct about
representations? [ Ans: ] They are true in every respect
An insurance producer takes an application for a life
insurance policy but does not collect the initial premium.
On delivery of the policy to the proposed insured, the
producer must collect the initial premium and which of
the following? [ Ans: ] The insured's signed statement of
continued good health
Which of the following retirement plans is tax-qualified? [
Ans: ] Defined contribution
Which of the following statements is correct about the
paid-up additions in a participating whole life policy? [
Ans: ] They are purchased on an attained age basis
, The right to change a beneficiary designation is reserved
for the: [ Ans: ] Policyowner
Which of the following provisions in a life policy specifies
the manner in which proceeds will be paid to a beneficiary
on the death of the insured? [ Ans: ] Settlement options
Two business partners own life insurance on each other. If
one partner dies, which of the following contracts will
allow the other partner to buy 100 percent of the business
interest? [ Ans: ] buy-sell agreement
The waiver of premium provision of a life policy allows
the insurer to take which of the following actions? [ Ans: ]
waive an insured's premiums if the insured becomes
totally disabled before a certian age
A life insurance application is incomplete if it is missing
the signature of which of the following? [ Ans: ] The
proposed adult insured
Which of the following statements is correct about group
life conversion privileges? [ Ans: ] Death during the
conversion period is covered if the departing employee
chose not to conver the policy.
In the event of an insured's death, which of the following
provides an income for the family during a designated
period of time followed by a lump sum death benefit? [
Ans: ] Family income rider
