Insurance #1
Required number of participants in a noncontributory group plan
%100
All of the following are examples of third party owner ship of life insurance policy except
1. 2. An insured borrows money from the bank and makes a collateral assignment of a part of death benefit to secure the loan. 3. 4.
In classifying right, the Home Office underwriting department will look at all of the following EXCEPT 1. Applicants present occupation 2. Applicants past income 3. Applicants med history 4. Applicants present physical condition
2 applicants past income
Which policy component decreases in decreasing term insurance?
Face amount
If a life policy allows the policyowner to make periodic additions to the face amount at standard rates, without proving insurability, the policy includes a
Guaranteed insurability rider
Which of the following is an eligibility requirement for all Social Security Disability Income benefits?
Have attained fully insured status
During partial withdrawal from a universal life policy, which portion will be taxed?
Interest gets taxed
As a field underwriter, a producer is responsible for all of the following tasks..EXcept 1. 2. Issue the policy that is required 3. 4.
Issue the policy that is required
Which of the following best describes annually renewable term insurance?
It is level term insurance
Which of the following statements is true about policy assignment?
It transfers rights of ownership from the owner to another person.
Which of the following information will be stated in the consideration clause if a life insurance policy?
The amount of premium payment
Which of the following is TRUE regarding variable annuities?
The annuitant assumes the risks on investment
Which of the following is NOT true regarding the annuitant? 1. 2. The annuitant cannot be the same person as the annuity owner. 3. 4.
The annuitant cannot be the same person as the annuity owner.
Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. What does this mean?
The beneficiary will only receive payments of the interest earned on the death benefit.
