Exam fx simulate 3rd attempt

Which of the following would be an example of a limited accident and health insurance policy?

A dread disease policy

Which of the following would NOT be an exclusion in a long-term care policy?

Alzheimer's disease

The term "fixed" in a fixed annuity refers to all of the following EXCEPT

Death Benefit

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

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

Stranger-orientated life insurance policies are in direct opposition to the principle of

Insurance interest

Which of the following is TRUE of a qualified plan?

It has a tax benefit for both employer and emploee

A provision found in insurance policies which prevents the insured from collecting twice for the same loss is called

Subrogation

All of the following statements concerning the use of life insurance as an Executive Bonus are correct EXCEPT

The policy is owned by the company