Guaranteed Exam Missed Questions
how long is the grace period for an individual life insurance policy
1 month
*Policy loan requests, except for loan requests for payment of due premiums, may be deferred for a period of up to
6 months
how long is the period of time in which a licensee must renew his or her license
90 days prior to expiration
which of the following would benefit the most from a straight life immediate annuity
a 60 year old man who needs as much retirement income as possible
according to the life insurance replacement regulations, which of the following would be an example of policy replacement
a policy is reissued with a reduction in cash value
which of the following documents used in the underwriting process contains specific medical details about an applicant
attending physicians statement
which of the following would NOT trigger the payment of Accelerated Death Benefits
being permanently disabled
a whole life policy is surrendered for a reduce-paid up policy. the cash value in the new policy will
continue to increase
an adjustable life policy can assume the form of
either term insurance or permanent insurance
which of the following is a correct statement about annuities
fixed annuities do not provide protection against inflation
all of the following information needs to be included on an application for life insurance EXCEPT
health insurance policies in force
if a loan request for payment of due premium on the policy, how soon must the insurer issue a loan
immediately
all of the following are true regarding a cash refund annuity settlement option EXCEPT
it provides a cash payment to the annuitant at annuitization
which of the following best describes pure life annuity
it provides the highest monthly benefits
your client wants to provide a retirement income for his elderly parents in case something happens to him. he wants to make sure that both beneficiaries are guaranteed an income for life. what settlement option should this policy owner select
joint and survivor
cash value guarantees in a whole life policy are called
nonforfeiture values
if a life insurance company uses HIV testing as a part of its underwriting, when must an application be notified of the procedure
prior to performance of the test
what does the application of contract of adhesion mean
since the insured does not participate in preparing the contract, any ambiguities would be resolved in favor of the insured
in a deferred annuity the difference between the accumulation value and the surrender value is the
surrender charge
all of the following are true about key-person insurance EXCEPT
the death benefit is taxable to the business
which of the following statements is true regarding thrift plans
the employer contributes a certain amount for each dollar contributed by the employee
life insurance creates an immediate estate. which of the following best explains this statement
the face value of the policy is payable to the beneficiary upon the death on the insured
in a life insurance application, all of the following signatures will be required EXCEPT
the home office underwriter
all of the following are advantages of a qualified plan except
the income at retirement is tax free
With Adjustable Life, the owner can change all of the following EXCEPT
the insured
which of the following is true regarding a joint life annuity
the payments stop at the first death
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?
the primary beneficiary died before the insured
all of the following are true regarding the waiver of cost insurance rider except
the rider expires when the insured reaches age 60