Pre-licensing-part 3

which of the following types of term life policies most likely contains a renewability feature

10 year convertible term

What type of policy would offer a 40-year old the quickest accumulation of cash value?

20-pay life

n is a 40-year old applicant who would like to retire at age 10, he is looking to buy a life insurance policy with level premiums, permanent protection, and be paid - up at retirement , which of these should n purchase

30 pay life

A company that owns a life insurance policy on one of its key employees Moy do all of the following except

Change the policy's interesy rate

The universal life policy is called an unbundled life policy because the policyholder can see the expense charges, the interest earned, and the:

Cost of Insurance

Variable life products require a producer to

Hold a life insurance license and securities license

which of the following actions require a policyowner to provide proof of insurability an adjustable life policy?

Increase face amount

a renewable term policy is renewable at the option of the

Insured

k buys a policy where the premium stays fixed for the first 5 years . The premium then increases in year 6 and stays level thereafter, all the while the death benefit remains the same. What kind of policy is this?

Modified whole life

A father who dies with 3 years after purchasing a life insurance policy on his infant daughter can hare the policy premiums waived under which provision

Payor provision

the amount of coverage on a group credit life policy is limited to:

The insured's total loan value

How does a typical Variable Life Policy investment account grow?

Through mutual funds, stocks, bonds

What type of life insurance incorporates flexible premiums and an adjustable death benefit?

Universal life

A(n)______life policy offers the owner investment in products such as money - market funds , long . Term bonds and equities

Variable

A life policy with a death benefit that can fluctuate according to the performance of its underlying investment portfolio is referred to as

Variable life

A life policy with a death benefit that can fluctuate according to the performance of its underlying investment portfolio is referred to as:

Variable life

Which policy requires an agent to register with the National Association of Securities Dealers (NASD) before selling?

Variable life

Which of the following policies is characterized by a flexible premium and death benefit and allows the policyowner control of the investment aspect of the plan?

Variable universal life

Q would like to purchase $100,000 of permanent protection on his wife and $50,000 of Term coverage on himself under the same policy. What kind of policy should Q purchase?

Whole life policy with other insured rider

Which of these is an element of a variable life policy?

a fixed, level premium

Variable whole life insurance can be described as:

both an insurance and securities product

which statement about a whole life policy is correct?

cash valve may be borrowed against

Which of the following features of a group term life policy enables an individual to leave the group and continue his or hers insurance without providing evidence of insurability?

conversion privilege

what kind of life insurance starts out as temporary coverage but can be later modified to permanent coverage without evidence of insurability?

convertible term

What type of life policy has a death benefit that adjusts periodically and is written for a specific period of time?

decreasing term

Which of these types of policies may not have the automatic premium loan provision attached to it

decreasing term

which of the following statements is correct about the period in which a term policy can be converted

it varies according to the contracts

whole life insurance policies are contractually guaranteed to provide each of the following, except:

partial withdrawl features beyond a surrender change period

which statement is correct regarding the premium payment schedule for whole life policies?

premiums are payable throughout insured's lifetime/coverage lasts until death of the insured

what type of life policy covers two people and pays upon the death of the last insured

survivorship

T would like to be assured $10.000 is available in 10years to replace a roof on his house . What kind of $10.000 policy should t purchase

ten - years endowment

what type of life insurance gives the the greatest amount of coverage for a limited period of time

term life

The investment gains from a universal life policy usually go toward:

the cash value

the most important factor to consider when determining whether To convert term insurance at the insured's attained age or the insured's original age is

the cost

When applied to whole life insurance, the word "straight" denotes:

the duration of premium payments

which of the following life insurance policies combine term insurance with an investment element?

universal life

a life insurance policy that provides a policyowner with cash value along with a lever face anount is called

whole life