real life ins

which of the following is not a component of an insurance policy premium a)number of beneficiaries b) c) d)

a)number of beneficiaries

which of the following is correct statement about annuities a) b)fixed annuities do not provide protection against inflation c) d)

b)fixed annuities do not provide protection against inflation

according to the common disaster clause if the insured and primary beneficiary are killed in the same accident and it cannot be determined who died first, which of the following will be assumed a)the primary beneficiary died before the insured b) c) d)

a)the primary beneficiary died before the insured

an insured has a life insurance policy in the amount of 250 000 naming his wife as beneficiary. upon his death, his beneficiary decides not to receive the death benefit for some time. when she finally received the death check, its in the amount of 250, 530. is any portion of the proceeds that beneficiary receive taxable a)yes, proceeds in excess of face amount are taxable as interest b) c) d)

a)yes, proceeds in excess of face amount are taxable as interest

an insured and his spouse recently had a child which of the following riders would allow the couple to insurer the child for a limited period of time at a specific amount a)spouse term rider b)children's term rider c)payor rider d)guaranteed insurability rider

b)children's term rider

what is the exclusion ratio used to determine a)the benefit amounts to be paid to the annuitant b)the annuity benefits to be excluded from taxes c)the premium amounts to be included in taxes d)the interest base and the payout base

b)the annuity benefits to be excluded from taxes

who is the annuity owner a)the insure b)the person who purchase the annuity c)the person who receives the benefits d)the person on whose life the annuity is written

b)the person who purchase the annuity

which of the following is not standard exclusion in life insurance polices? a) b) c)disability d)

c)disability

what is the difference between a straight life policy and a 20-pay whole life policy a)the face amount and cash value b)policy maturity date c)premium payment period d)the benefit settlement option

c)premium payment period

if the annuitant dies before the annuity start date which of the following is true a)the interest is tax free if the beneficiary is a spouse b)the interest is nontaxable c)the interest is taxable d)the interest will not be tax deferred

c)the interest is taxable

what type of authority is found in the agent's contract a)apparent b)implied c)assumed d)express

d)express

if the policy summary for a life insurance policy is not given when the application is taken when the policy summary be given to the policyowner a) b) c) d)when the policy is delivered

d)when the policy is delivered

the guaranteed insurability rider allows the owner to purchase additional amounts of life insurance without proof of insurability at all of the following except a)purchase of a new home b) c) d)

purchase of a new home