10/14/25, 12:45 PM Pearson Vue Life Insurance Practice EXAM comprehensive questions and verified answers| FREQUENTLY MOST TESTED QU…
Pearson Vue Life Insurance Practice EXAM
comprehensive questions and verified answers|
FREQUENTLY MOST TESTED QUESTIONS AND
VERIFIED SOLUTIONS/GET IT 100% ACCURATE!!
Save
Terms in this set (50)
P wants to name her B
husband as the
beneficiary of her life
policy. However, she
wishes to retain all of the
rights of ownership. P
should have her husband
named as the:
A.irrevocable beneficiary
B.revocable beneficiary
C.secondary beneficiary
https://quizlet.com/1092452212/pearson-vue-life-insurance-practice-exam-comprehensive-questions-and-verified-answers-frequently-most-tested-qu… 1/32
,10/14/25, 12:45 PM Pearson Vue Life Insurance Practice EXAM comprehensive questions and verified answers| FREQUENTLY MOST TESTED QU…
A contract that has as its D
basic function the
systematic liquidation of
accumulated assets
through periodic
payments is called an:
A.indemnity contract
B.investment contract
C.endowment
D.annuity
https://quizlet.com/1092452212/pearson-vue-life-insurance-practice-exam-comprehensive-questions-and-verified-answers-frequently-most-tested-qu… 2/32
,10/14/25, 12:45 PM Pearson Vue Life Insurance Practice EXAM comprehensive questions and verified answers| FREQUENTLY MOST TESTED QU…
An insurance producer B
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?
A.A copy of the MIB
report
B.The insured's signed
statement of continued
good health
C.A copy of the
conditional receipt
D.A copy of the temporary
insurance agreement that
covered the period
between the application
date and the delivery
date.
https://quizlet.com/1092452212/pearson-vue-life-insurance-practice-exam-comprehensive-questions-and-verified-answers-frequently-most-tested-qu… 3/32
, 10/14/25, 12:45 PM Pearson Vue Life Insurance Practice EXAM comprehensive questions and verified answers| FREQUENTLY MOST TESTED QU…
An employer can deduct B
premium payments as an
ordinary business expense
for which of the following
life coverages?
A.Buy and Sell
Agreements
B.Group
C.Key Employee
D.Joint Life, if the business
is named as the
beneficiary
A producer takes D
applications from identical
twins who want to buy the
same type of policy in the
same amount. The insurer
issues the policies as
applied for, but charges a
25 percent higher
premium for one of the
policies. The difference in
premiums is probably due
to which of the following
factors?
A.Incontestability
B.Insurable interest
C.Consideration
D.Risk classification
https://quizlet.com/1092452212/pearson-vue-life-insurance-practice-exam-comprehensive-questions-and-verified-answers-frequently-most-tested-qu… 4/32
Pearson Vue Life Insurance Practice EXAM
comprehensive questions and verified answers|
FREQUENTLY MOST TESTED QUESTIONS AND
VERIFIED SOLUTIONS/GET IT 100% ACCURATE!!
Save
Terms in this set (50)
P wants to name her B
husband as the
beneficiary of her life
policy. However, she
wishes to retain all of the
rights of ownership. P
should have her husband
named as the:
A.irrevocable beneficiary
B.revocable beneficiary
C.secondary beneficiary
https://quizlet.com/1092452212/pearson-vue-life-insurance-practice-exam-comprehensive-questions-and-verified-answers-frequently-most-tested-qu… 1/32
,10/14/25, 12:45 PM Pearson Vue Life Insurance Practice EXAM comprehensive questions and verified answers| FREQUENTLY MOST TESTED QU…
A contract that has as its D
basic function the
systematic liquidation of
accumulated assets
through periodic
payments is called an:
A.indemnity contract
B.investment contract
C.endowment
D.annuity
https://quizlet.com/1092452212/pearson-vue-life-insurance-practice-exam-comprehensive-questions-and-verified-answers-frequently-most-tested-qu… 2/32
,10/14/25, 12:45 PM Pearson Vue Life Insurance Practice EXAM comprehensive questions and verified answers| FREQUENTLY MOST TESTED QU…
An insurance producer B
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?
A.A copy of the MIB
report
B.The insured's signed
statement of continued
good health
C.A copy of the
conditional receipt
D.A copy of the temporary
insurance agreement that
covered the period
between the application
date and the delivery
date.
https://quizlet.com/1092452212/pearson-vue-life-insurance-practice-exam-comprehensive-questions-and-verified-answers-frequently-most-tested-qu… 3/32
, 10/14/25, 12:45 PM Pearson Vue Life Insurance Practice EXAM comprehensive questions and verified answers| FREQUENTLY MOST TESTED QU…
An employer can deduct B
premium payments as an
ordinary business expense
for which of the following
life coverages?
A.Buy and Sell
Agreements
B.Group
C.Key Employee
D.Joint Life, if the business
is named as the
beneficiary
A producer takes D
applications from identical
twins who want to buy the
same type of policy in the
same amount. The insurer
issues the policies as
applied for, but charges a
25 percent higher
premium for one of the
policies. The difference in
premiums is probably due
to which of the following
factors?
A.Incontestability
B.Insurable interest
C.Consideration
D.Risk classification
https://quizlet.com/1092452212/pearson-vue-life-insurance-practice-exam-comprehensive-questions-and-verified-answers-frequently-most-tested-qu… 4/32
