Primerica - Exam test Questions

An agent completed a CE course in 2014. Until what year must the agent keep the records of completion? a) 2015 b) 2016 c) 2018 d) 2024

2018

An insurance policy that only requires a payment of premium at its inception, provides insurance protection for the life of the insured, and matures at the insured's age 100 is called a) Modified Endowment Contract (MEC). b) Level term life. c) Graded premium whole life. d) Single premium whole life.

Single Premium Whole Life

A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. This is a personal use of life insurance known as a) Survivorship insurance b) Juvenile protection provision c) Survivor protection d) Life planning

Survivor protection

Which of the following is called a "second-to-die" policy? a) Juvenile life b) Joint life c) Survivorship life d) Family income

Survivorship Life

Which of the following would help prevent a universal life policy from lapsing? a) Corridor of insurance b) Target premium c) Face amount d) Adjustable premium

Target premium

An insured owns a $50,000 whole life policy. At age 47, the insured decides to cancel his policy and exercise the extended term option for the policy's cash value, which is currently $20,000. What would be the face amount of the new term policy? a) $20,000 b) $25,000 c) $50,000 d) The face amount will be determined by the insurer.

$50,000

An employee quits her job where she has a balance of $10,000 in her qualified plan. The balance was paid out directly to the employee in order for her to move the funds to a new account. If she decides to rollover her plan to a Traditional IRA, how much will she receive from the plan administrator and how long does she have to complete the tax-free rollover? a) $8,000, 30 days b) $10,000, 60 days c) $10,000, 30 days d) $8,000, 60 days

$8,000, 60 days

An insured had a $10,000 term life policy. The annual premium of $200 was due on February 1; however, the insured failed to pay the premium. He died on February 28. How much would the beneficiary receive from the policy? a) $0 b) $200 c) $9,800 d) $10,000

$9,800

#91. What percentage of continuing education hours must be in a classroom setting? a) 25% b) 50% c) 75% d) 100%

50%

#69. If a policyowner surrenders his life insurance policy that has been in force for 5 years within 60 days after the premium due date, what will the insurer be required to pay? a) A paid-up nonforfeiture benefit b) Nothing c) The death benefit d) A cash surrender value

A cash surrender value

According to the Entire Contract provision, a policy must contain a) A declarations page with a summary of insureds. b) Buyer's guide to life insurance. c) Listing of the insured's former insurer(s) for incontestability provisions. d) A copy of the original application for insurance

A copy of the original application for insurance

Who is a third-party owner? a) An insurer who issues a policy for two people b) An employee in a group policy c) An irrevocable beneficiary d) A policyowner who is not the insured

A policy owner who is not the insured

An insurer has made all of the decisions regarding the provisions included in the insured's policy. The insured finds an objectionable provision and wants to negotiate it with the insurer but is not allowed to do so. Her only options are to reject the policy or accept it as is. Which contract feature does this describe? a) Unilateral b) Conditional c) Personal d) Adhesion

Adhesion

#94. Which of the following is the closest term to an authorized insurer? a) Certified b) Licensed c) Legal d) Admitted

Admitted

#39. Which of the following best describes the concept that the insured pays a small amount of premium for a large amount of risk on the part of the insurance company? a) Adhesion b) Subrogation c) Warranty d) Aleatory

Aleatory

Rebating is an unfair trade practice and is regulated by law. All of the following would be considered to be rebating EXCEPT a) An agent offers tickets to a baseball game as an inducement to buy insurance. b) An agent misrepresents policy benefits to convince a policyowner to replace policies. c) An agent offers the use of his lake house to person as an inducement to buy. d) An agent offers to share his commission with a policyholder.

An agent misrepresents policy benefits to convince a policyowner to replace policies.

#71. What is a foreign insurer? a) An insurer with a home office in another country b) An insurer with licensed agents doing business in other countries c) An insurer with licensed agents who are citizens in more than one country d) An insurer with a home office in another state

An insurer with a home office in another state

When an annuity is written, whose life expectancy is taken into account? a) Beneficiary b) Life expectancy is not a factor when writing an annuity. c) Owner d) Annuitant

Annuitant

In an annuity, the accumulated money is converted into a stream of income during which time period? a) Conversion period b) Annuitization period c) Payment period d) Amortization period

Annuitization period

Partners in a business enter into a buy-sell agreement to purchase life insurance, which states that should one of them die prematurely, the other would be financially able to buy the interest of the deceased partner. What type of insurance policy may be used to fund this agreement? a) Term insurance only b) Permanent insurance only c) Universal life insurance only d) Any form of life insurance

Any form of life insurance

Employer contributions made to a qualified plan a) Are subject to vesting requirements. b) May discriminate in favor of highly paid employees. c) Are after-tax contributions. d) Are taxed annually as salary.

Are subject to vesting requirements

SIMPLE Plans require all of the following EXCEPT a) No more than 100 employees. b) Employees must receive a minimum of $5,000 in annual compensation. c) At least 1,000 employees. d) No other qualified plan can be used.

At least 1,000 employees.

All of the following are considered unfair or deceptive acts in connection with the sale of insurance EXCEPT a) Delaying a settlement because there is other insurance that will satisfy any portion of the loss. b) Lacking standards for the investigation of an insured's claims. c) Attempting to settle a claim in which liability is clear. d) Stating facts or provisions in a way that misrepresents the true nature of the policy.

Attempting to settle a claim in which liability is clear.

#92. If an insurer meets the state's financial requirements and is approved to transact business in the state, it is considered to be a) Certified. b) Qualified. c) Approved. d) Authorized.

Authorized.

If an applicant for a life insurance policy is found to be a substandard risk, the insurance company is most likely to a) Lower its insurability standards. b) Refuse to issue the policy. c) Charge a higher premium. d) Require a yearly medical examination.

Charge a higher premium.

An insured and his wife are both involved in a head-on collision. The husband dies instantly, and the wife dies 15 days later. The company pays the death benefit to the estate of the insured. This indicates that the life insurance policy had what provision? a) Survivor Life b) Second-to-Die c) Common Disaster d) Accidental Death

Common Disaster

An insurer neglects to pay a legitimate claim that is covered under the terms of the policy. Which of the following insurance principles has the insurer violated? a) Consideration b) Good faith c) Representation d) Adhesion

Consideration

#47. An insured pays an annual premium to his insurer. In return, the insurer promises to pay benefits in accordance with the terms of the contract. This is called a) Acceptance. b) Consideration. c) Conditions. d) Utmost good faith.

Consideration.

The type of policy that can be changed from one that does not accumulate cash value to the one that does, is a a) Decreasing Term Policy. b) Whole Life Policy. c) Convertible Term Policy. d) Renewable Term Policy.

Convertible Term Policy

What happens when a policy is surrendered for its cash value? a) The policy can be reinstated by paying back all policy loans and premiums. b) The policy can be converted to term coverage. c) Coverage ends and the policy cannot be reinstated. d) Coverage ends but the policy can be reinstated at any time.

Coverage ends and the policy cannot be reinstated

#93. Which of the following is true regarding the insurance amount in a credit life policy? a) Creditor may insure the debtor for an unlimited amount of coverage. b) Allowable amount of coverage is determined by the State Insurance Commissioner. c) The amount of coverage can be greater than the amount owed. d) Creditor can only insure the debtor for the amount owed.

Creditor can only insure the debtor for the amount owed.

An individual has just borrowed $10,000 from his bank on a 5-year installment loan requiring monthly payments. What type of life insurance policy would be best suited to this situation? a) Variable life b) Universal life c) Whole life d) Decreasing term

Decreasing Term

#74. Which of the following types of insurance policies is most commonly used in credit life insurance? a) Equity indexed life b) Decreasing term c) Increasing term d) Whole life

Decreasing term

#88. Which of the following terms describes making false statements about the financial condition of any insurer that are intended to injure any person engaged in the business of insurance? a) Slandering b) Defamation c) Undercutting d) Twisting

Defamation

Which of the following is NOT a term for the period of time during which the annuitant or the beneficiary receives income? a) Annuitization period b) Pay-out period c) Liquidation period d) Depreciation period

Depreciation Period

#84. Two individuals are in the same risk and age class; yet, they are charged different rates for their insurance policies due to an insignificant factor. What is this called? a) Law of large numbers b) Misrepresentation c) Adverse selection d) Discrimination

Discrimination

If an annuitant dies before annuitization occurs, what will the beneficiary receive? a) Either the amount paid into the plan or the cash value of the plan, whichever is the lesser amount b) Amount paid into the plan c) Cash value of the plan d) Either the amount paid into the plan or the cash value of the plan, whichever is the greater amount

Either the amount paid into the plan or the cash value of the plan, whichever is the greater amount

When a life insurance policy is cancelled and the insured has selected the extended term nonforfeiture option, the cash value will be used to purchase term insurance that has a face amount a) In lesser amounts for the remaining policy term of age 100. b) Equal to the cash value surrendered from the policy. c) The same as the original policy minus the cash value. d) Equal to the original policy for as long a period of time that the cash values will purchase.

Equal to the original policy for as long a period of time that the cash values will purchase.

Which of the following must an agent receive in order to sell variable life insurance policies? a) Variable products license b) Certificate of authority c) SEC registration d) FINRA registration

FINRA registration

Which policy component decreases in decreasing term insurance? a) Dividend b) Premium c) Face amount d) Cash value

Face amount

#100. The usage of words or symbols that are similar to what entity is prohibited in life insurance advertisements? a) Federal government b) Insurer c) Department of Insurance d) Stock

Federal government

Both Universal Life and Variable Universal Life have a a) Flexible premium. b) Level fixed premium. c) Decreasing premium. d) Increasing premium.

Flexible premium

When possible, what should insurers strive to eliminate from illustrations? a) Words they don't know b) Footnotes and caveats c) References to other products d) Policy amendments more than a page long

Footnotes and caveats

Under a 20-pay whole life policy, in order for the policy to pay the death benefit to a beneficiary, the premiums must be paid a) Until the policyowner reaches age 65. b) For 20 years. c) Until the policyowner's age 100, when the policy matures. d) For 20 years or until death, whichever occurs first.

For 20 years or until death, whichever occurs first

Under a 20-pay whole life policy, in order for the policy to pay the death benefit to a beneficiary, the premiums must be paid a) Until the policyowner's age 65. b) For 20 years. c) Until the policyowner's age 100, when the policy matures. d) For 20 years or until death, whichever occurs first.

For 20 years or until death, whichever occurs first.

In a direct rollover, how is the money transferred from one plan to the new one? a) From trustee to the participant b) From the participant to the new plan c) From the original plan to the original custodian d) From trustee to trustee

From trustee to trustee

Which is TRUE about the cash surrender nonforfeiture option? a) Funds exceeding the premium paid are taxable as ordinary income. b) After the cash surrender, the insured is covered for a grace period of 1 month. c) The policy remains active for some time after the policyholder opts for cash surrender. d) The policyholder receives the original cash value of the policy.

Funds exceeding the premium paid are taxable as ordinary income

What required provision protects against unintentional lapse of the policy? a) Payment of premiums b) Reinstatement c) Grace period d) Assignment

Grace period

To become a Texas insurance agent, an individual must a) Have passed a licensing exam within the 12 months before applying. b) File a personal financial statement with the Commissioner for the previous 3 years. c) Have resided in Texas for at least 1 year. d) Post a $25,000 bond.

Have passed a licensing exam within the 12 months before applying.

#59. Annually renewable term policies provide a level death benefit for a premium that a) Fluctuates. b) Increases annually. c) Decreases annually. d) Remains level.

Increases annually.

A Return of Premium term life policy is written as what type of term coverage? a) Renewable b) Level c) Increasing d) Decreasing

Increasing

A life insurance policy has a legal purpose if both of which of the following elements exist? a) Policyowners and named beneficiaries b) Insurable interest and consent c) Underwriting and reciprocity d) Offer and counteroffer

Insurable interest and consent

Which of the following policy components contains the company's promise to pay? a) Insuring clause b) Premium mode c) Consideration clause d) Entire contract provision

Insuring clause

An insured purchased a Life Insurance policy. The agent told him that depending upon the company's investments and expense factors, the cash values could change from those shown in the policy at issue time. The policy is a/an a) Credit Life. b) Annual Renewable Term. c) Adjustable Life. d) Interest-sensitive Whole Life.

Interest-sensitive Whole Life

Which of the following is TRUE of a qualified plan? a) It may discriminate in favor of highly paid employees. b) It may allow unlimited contributions. c) It has a tax benefit for both employer and employee. d) It does not need to have a vesting schedule.

It has a tax benefit for both employer and employee.

What is the purpose of a conditional receipt? a) It is intended to provide coverage on a date earlier than the date of the issuance of the policy. b) It guarantees the applicant that a policy will be issued in the amount applied for in the application. c) It serves as proof that the agent has determined the applicant to be fully insurable for coverage by the insurance company. d) It is given by the agent only to applicants who fully prepay all scheduled premiums in advance of policy issue.

It is intended to provide coverage on a date earlier than the date of the issuance of the policy

Which of the following best describes annually renewable term insurance? a) It is level term insurance. b) It requires proof of insurability at each renewal. c) Neither the premium nor the death benefit is affected by the insured's age. d) It provides an annually increasing death benefit.

It is level term insurance.

Which of the following is true about the premium on the children's rider in a life insurance policy? a) It decreases when an adopted child is added to the policy. b) It remains the same no matter how many children are added to the policy. c) It decreases when the oldest child reaches the age of 21. d) It increases when a newborn baby is added to the policy.

It remains the same no matter how many children are added to the policy.

Which of the following statements is TRUE about a policy assignment? a) It authorizes an agent to modify the policy. b) It transfers rights of ownership from the owner to another person. c) It is the same as a beneficiary designation. d) It permits the beneficiary to designate the person to receive the benefits.

It transfers rights of ownership from the owner to another person

Variable Life insurance is based on what kind of premium? a) Decreasing b) Graded c) Level fixed d) Increasing

Level fixed

Which two terms are associated directly with the premium? a) Fixed or variable b) Term or permanent c) Renewable or convertible d) Level or flexible

Level or flexible

#43. Which of the following terms means a result of calculation based on the average number of months the insured is projected to live due to medical history and mortality factors? a) Risk exposure b) Morbidity c) Life expectancy d) Mortality rate

Life expectancy

Your client wants both protection and savings from the insurance, and is willing to pay premiums until retirement at age 65. What would be the right policy for this client? a) Life annuity with period certain b) Increasing term c) Limited pay whole life d) Interest-sensitive whole life

Limited pay whole life

All other factors being equal, what would the premium be like in a survivorship life policy as compared to the premium in a joint life policy? a) As high b) Half the amount c) Lower d) Higher

Lower

What is the term for how frequently a policyowner is required to pay the policy premium? a) Consideration b) Mode c) Schedule d) Grace period

Mode

#73. During replacement of life insurance, a replacing insurer must do which of the following? a) Guarantee a replacement for each existing policy b) Designate a new producer for a replaced policy c) Send a copy of the Notice Regarding Replacement to the Department of Insurance d) Obtain a list of all life insurance policies that will be replaced

Obtain a list of all life insurance policies that will be replaced

Which of the following explains the policyowner's right to change beneficiaries, choose options, and receive proceeds of a policy? a) The Entire Contract Provision b) The Consideration Clause c) Assignment Rights d) Owner's Rights

Owner's Rights

An insured purchases a policy in 2008 and died in 2013. The insurance company discovers at that time that the insured concealed information during the application process. What can they do? a) Sue for the right to not pay the death benefit b) Pay the death benefit c) Refuse to pay the death benefit because of the fraud d) Pay a decreased death benefit

Pay the death benefit

#38. Which of the following allows the insurer to relieve a minor insured from premium payments if the minor's parents have died or become disabled? a) Waiver of Premium b) Payor Benefit c) Jumping Juvenile d) Juvenile Premium Provision

Payor Benefit

#90. All of the following are mandatory life insurance policy provisions EXCEPT a) Incontestability. b) Grace period. c) Policy backdating. d) Misstatement of age.

Policy backdating.

#41. Which of the following will be included in a policy summary? a) Comparisons with similar policies b) Primary and secondary beneficiary designations c) Premium amounts and surrender values d) Copies of illustrations and application

Premium amounts and surrender values

Which nonforfeiture option provides coverage for the longest period of time? a) Paid-up option b) Accumulated at interest c) Reduced paid-up d) Extended term

Reduced paid-up

The policyowner pays for her life insurance annually. Until now, she has collected a nontaxable dividend check each year. She has decided that she would rather use the dividends to help pay for her next premium. What option would allow her to do this? a) Paid-up addition b) Accumulation at interest c) Cash option d) Reduction of premium

Reduction of premium

Under the Fair Credit Reporting Act, if the consumer challenges the accuracy of the information contained in his or her report, the reporting agency must a) Defend the report if the agency feels it is accurate. b) Change the report. c) Send an actual certified copy of the entire report to the consumer. d) Respond to the consumer's complaint.

Respond to the consumer's complaint.

#40. Which of the following, when attached to a permanent life insurance policy, allows the policyowner to customize the policy to provide an additional amount of temporary insurance on the insured, or allows amounts of temporary insurance to cover other family members? a) Accidental death and dismemberment rider b) Guaranteed insurability rider c) Change of insured rider d) Term rider

Term rider

The president of a company is starting an annuity and decides that his corporation will be the annuitant. Which of the following statements is true? a) The contract can be issued without an annuitant. b) The annuitant must be a natural person. c) A corporation can be an annuitant as long as it is also the owner. d) A corporation can be an annuitant as long as the beneficiary is a natural person.

The annuitant must be a natural person

Which of the following is NOT the consideration in a policy? a) The application given to a prospective insured b) Something of value exchanged between parties c) The premium amount paid at the time of application d) The promise to pay covered losses

The application given to a prospective insured

Which of the following is an example of liquidity in a life insurance contract? a) The death benefit paid to the beneficiary b) The flexible premium c) The money in a savings account d) The cash value available to the policyowner

The cash value available to the policyowner

An individual applied for an insurance policy and paid the initial premium. The insurer issued a conditional receipt. Five days later the applicant had to submit to a medical exam. If the policy is issued, what would be the policy's effective date? a) The date of policy delivery b) The date of issue c) The date of application d) The date of medical exam

The date of medical exam

The policyowner of an adjustable life policy wants to increase the death benefit. Which of the following statements is correct regarding this change? a) The death benefit can be increased by providing evidence of insurability. b) The death benefit cannot be increased. c) The death benefit can be increased only when the policy has developed a cash value. d) The death benefit can be increased only by exchanging the existing policy for a new one.

The death benefit can be increased by providing evidence of insurability

The policyowner of an adjustable life policy wants to increase the death benefit. Which of the following statements is correct regarding this change? a) The death benefit can be increased only when the policy has developed a cash value. b) The death benefit can be increased only by exchanging the existing policy for a new one. c) The death benefit can be increased by providing evidence of insurability. d) The death benefit cannot be increased.

The death benefit can be increased by providing evidence of insurability.

Which of the following is the best reason to purchase life insurance rather than annuities? a) To liquidate a sum of money over a lifetime b) To create an estate c) To liquidate a sum of money over a period of years d) To create regular income payments

To create an estate

All of the following statements concerning an employer sponsored nonqualified retirement plan are true EXCEPT a) The employer can receive a current tax deduction for any contributions made to the plan. b) The plan is a legal method of accumulating money for retirement needs. c) The plan can discriminate as to who may participate. d) The plan is not approved for favorable tax treatment by the IRS.

The employer can receive a current tax deduction for any contributions made to the plan

An insured purchased a 10-year level term life policy that is guaranteed renewable and convertible. What happens at the end of the 10-year term? a) The insured must provide evidence of insurability to renew the policy. b) The insured may only convert the policy to another term policy. c) The insured may renew the policy for another 10 years at the same premium rate. d) The insured may renew the policy for another 10 years, but at a higher premium rate.

The insured may renew the policy for another 10 years, but at a higher premium rate.

When a life insurance policy was issued, the policyowner designated a primary and a contingent beneficiary. Several years later, both the insured and the primary beneficiary died in the same car accident, and it was impossible to determine who died first. Which of the following would receive the death benefit? a) The insurance company b) The insured's estate c) The primary beneficiary's estate d) The insured's contingent beneficiary

The insured's contingent beneficiary

A father owns a life insurance policy on his 15-year-old daughter. The policy contains the optional Payor Benefit rider. If the father becomes disabled, what will happen to the life insurance premiums? a) The insured's premiums will be waived until she is 21. b) The premiums will become tax deductible until the insured's 18th birthday. c) Since it is the policyowner, and not the insured, who has become disabled, the life insurance policy will not be affected. d) The insured will have to pay premiums for 6 months. If at the end of this period the father is still disabled, the insured will be refunded the premiums.

The insured's premiums will be waived until she is 21.

What is the main purpose of the regulation on life insurance policy illustrations? a) To help customers make educated decisions in buying life insurance b) To compare life policies c) To help producers submit proper reports to the department of insurance d) To present a life policy in a visual way

To help customers make educated decisions in buying life insurance

In a life settlement contract, whom does the life settlement broker represent? a) The owner b) The insurer c) The beneficiary d) The life settlement intermediary

The owner

All of the following are true regarding a decreasing term policy EXCEPT a) The payable premium amount steadily declines throughout the duration of the contract. b) It has a lower premium than level term. c) The contract pays only in the event of death during the term and there is no cash value. d) The face amount steadily declines throughout the duration of the contract.

The payable premium amount steadily declines throughout the duration of the contract

Which of the following best describes what the annuity period is? a) The period of time from the accumulation period to the annuitization period b) The period of time during which money is accumulated in an annuity c) The period of time from the effective date of the contract to the date of its termination d) The period of time during which accumulated money is converted into income payments

The period of time during which accumulated money is converted into income payments

All of the following are general requirements of a qualified plan EXCEPT a) The plan must be communicated to all employees. b) The plan must be for the exclusive benefits of the employees and their beneficiaries. c) The plan must be permanent, written and legally binding. d) The plan must provide an offset for social security benefits.

The plan must provide an offset for social security benefits

If an insurer issued a policy based on the application that had unanswered questions, which of the following will be TRUE? a) The insurer may deny coverage later, because of the information missing on the application. b) The policy will be interpreted as if the insurer waived its right to have an answer on the application. c) The policy will be interpreted as if the insured did not have an answer to the question. d) The policy will be void.

The policy will be interpreted as if the insurer waived its right to have an answer on the application

If an insured continually uses the automatic premium loan option to pay the policy premium, a) The policy will terminate when the cash value is reduced to nothing. b) The face amount of the policy will be reduced by the automatic premium loan amount. c) The cash value will continue to increase. d) The insurer will increase the premium amount.

The policy will terminate when the cash value is reduced to nothing

Which of the following is NOT true of life settlements? a) They could be used for a key person coverage. b) They could be sold for an amount greater than the current cash value. c) They involve insurance policies with large face amounts. d) The seller must be terminally ill.

The seller must be terminally ill.

#78. An agent explains the details of a life insurance policy to a client. The agent does not realize, however, that the state has recently rewritten two of the provisions. As a result, the agent inadvertently misrepresents the policy, making it more attractive than it really is. What best describes this situation? a) Misrepresentation b) Deceptive claim settlement practice c) There is no misconduct d) Fraud

There is no misconduct

Which of the following statements is TRUE concerning irrevocable beneficiaries? a) They can be changed only with the written consent of that beneficiary. b) They may be changed at any time. c) They can never be changed. d) They may be changed only on the anniversary date of the policy.

They can be changed only with the written consent of that beneficiary

What is the purpose of a fixed-period settlement option? a) To provide a guaranteed income for life b) To provide a guaranteed amount of money each month c) To provide a guaranteed income for a certain amount of time d) To settle the insurance company's liability

To provide a guaranteed income for a certain amount of time.

In insurance policies, the insured is not legally bound to any particular action in the insurance contract, but the insurer is legally obligated to pay losses covered by the policy. What contract element does this describe? a) Unidirectional b) Aleatory c) Conditional d) Unilateral

Unilateral

All of the following are TRUE regarding the convertibility option under a term life insurance policy EXCEPT a) Upon conversion, the death benefit of the permanent policy will be reduced by 50%. b) Evidence of insurability is not required. c) Most term policies contain a convertibility option. d) Upon conversion, the premium for the permanent policy will be based upon attained age.

Upon conversion, the death benefit of the permanent policy will be reduced by 50%

In a survivorship life policy, when does the insurer pay the death benefit? a) Upon the last death b) Upon the first death c) Half at the first death, and half at the second death d) If the insured survives to age 100

Upon the last death

Which of the following is a statement that is guaranteed to be true, and if untrue, may breach an insurance contract? a) Concealment b) Indemnity c) Representation d) Warranty

Warranty

When would a 20-pay whole life policy endow? a) After 20 payments b) In 20 years c) When the insured reaches age 100 d) At the insured's age 65

When the insured reaches age 100

Which of the following types of insurance policies would perform the function of cash accumulation? a) Increasing term b) Whole life c) Term life d) Credit life

Whole Life

If a policy includes a free-look period of at least 10 days, the Buyer's Guide may be delivered to the applicant a) Upon issuance of the policy. b) Within 30 days after the first premium payment was collected. c) Prior to filling out an application for insurance. d) With the policy.

With the policy.