Virginia Life: Life Insurance Basics (F-I)
Exam Questions and Answers 100%
Accurate
Solication - ANSWER-The process of issuing a life insurance policy begins with ____
Solicitation of Insurance - ANSWER-An attempt to persuade a person to buy an
insurance policy, and it can be done orally or in writing.
insurer - ANSWER-The ____ whose policies are advertised is responsible for all its
advertisements, regardless of who wrote, created, presented, or distributed them.
Buyer's Guide - ANSWER-A document that explains how a buyer should go about
choosing the amount and type of insurance to and how buyer can save money by
comparing the costs of similar policies
Policy Summary - ANSWER-Written statement describing the features and elements
of the policy being issued
Premium, cash value, dividends, surrender value and death benefit figures for
specific policy years - ANSWER-Policy Summaries include:
Generic, Specific - ANSWER-A buyer's guide provides ____ information on various
types of policies while a policy summary provides ____ information on the policy
being issued
Replacement - ANSWER-Practice of terminating an existing policy or letting it lapse,
and obtaining a new one
Replacing Insurer - ANSWER-The company that issues the new policy
Existing Insurer - ANSWER-The company whose policy is being replaced
Advertisement - ANSWER-Any oral, printed, written, or other marketing
communication designed to create public interest in life insurance or annuities, and
induce the public to purchase, modify, reinstate, surrender, or replace a policy
Investment, Profit, Interest Plan, Savings, Etc. - ANSWER-Terms deemed prohibited
in Life Insurance Advertisements:
Free, No Cost, Etc. - ANSWER-Terms deemed prohibited in Benefits and Services
Advertisements:
Exam Questions and Answers 100%
Accurate
Solication - ANSWER-The process of issuing a life insurance policy begins with ____
Solicitation of Insurance - ANSWER-An attempt to persuade a person to buy an
insurance policy, and it can be done orally or in writing.
insurer - ANSWER-The ____ whose policies are advertised is responsible for all its
advertisements, regardless of who wrote, created, presented, or distributed them.
Buyer's Guide - ANSWER-A document that explains how a buyer should go about
choosing the amount and type of insurance to and how buyer can save money by
comparing the costs of similar policies
Policy Summary - ANSWER-Written statement describing the features and elements
of the policy being issued
Premium, cash value, dividends, surrender value and death benefit figures for
specific policy years - ANSWER-Policy Summaries include:
Generic, Specific - ANSWER-A buyer's guide provides ____ information on various
types of policies while a policy summary provides ____ information on the policy
being issued
Replacement - ANSWER-Practice of terminating an existing policy or letting it lapse,
and obtaining a new one
Replacing Insurer - ANSWER-The company that issues the new policy
Existing Insurer - ANSWER-The company whose policy is being replaced
Advertisement - ANSWER-Any oral, printed, written, or other marketing
communication designed to create public interest in life insurance or annuities, and
induce the public to purchase, modify, reinstate, surrender, or replace a policy
Investment, Profit, Interest Plan, Savings, Etc. - ANSWER-Terms deemed prohibited
in Life Insurance Advertisements:
Free, No Cost, Etc. - ANSWER-Terms deemed prohibited in Benefits and Services
Advertisements:
