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Financial Advisor VUL Exam - Benefits and Risks of VUL Funds, Working with Numbers, Traditional Plans, and Agent's Code of Ethics
24問 • 11ヶ月前
  • Angela Daet
    • 通報

    問題一覧

  • 1

    Diversification in investment involves ______________________

    Reducing the risks of investment by putting one fund under management into several categories of investment

  • 2

    Which one of the following statements is NOT TRUE about the benefits of investing in a Variable Life insurance policy?

    The fund ensures definite high yield for an investor since it is managed by professionals who are well-versed in the management of risk of the investment portfolio

  • 3

    Risk can be classified into two particular categories in relation to investment. They include __________________: I. The risk of not losing some or all of a person’s initial investment II. The risk of rate of return on the investment not matching up to the individual’s expectation III. The risk of rate of return on the investment matching up to the individual’s expectation IV. The risk of losing some or all of a person’s initial investment

    II and IV

  • 4

    The benefits of investing in Variable Life fund include: I. Policyowners have access to pooled and diversified portfolio of investment. II. The policyowner can easily change the level of premium payments as the product design of Variable Life insurance policies have clear structures which cater separately for investment and insurance protection. III. Policyowners can gain access to Variable Life funds managed by professional investment managers. IV. The policyowner is relieved of the day-to-day administration of his investment.

    All of the above

  • 5

    To the policyowners, administration benefits under Variable Life include:

    Keeping track of their investment through the statements provided regularly by the insurance company.

  • 6

    Which one of the following statements about diversification in portfolio management is FALSE?

    Diversified can completely eliminate the risk of investing in stocks in a portfo

  • 7

    Which of the following statement about risk of investing in variable life funds is TRUE?

    Policy owners who invest in variable life funds with high equity investment face greater risk but can expect to achieve higher return than the traditional life insurance product over the long term

  • 8

    The flexibility benefits of investing in variable life funds include ________________: I. Policy owner can easily change the level of sum assured and switch their investment between funds II. Policy owners can easily take premium holidays and add single premium to top-ups III. Variable life insurance products have a simple product design with a clear structure which cater separately for investment and insurance protection IV. Policy owners can easily change the level of their premium payment

    I, II, and IV

  • 9

    Which of the following statements about benefits in variable life fund is FALSE?

    The fund ensures definite high yield an investor since it is managed by professional who are well- versed in the management of risks of investment portfolios

  • 10

    Which statement regarding the risk of investment in Variable Life is TRUE?

    Policyowners who invest in Variable Life funds with high equity investment face greater risk but can expect to achieve higher return than Traditional Life insurance policies with high equity investment.

  • 11

    Which of the following BEST describes the policy benefits variable life policies?

    The policy benefits are directly linked to the investment performance of the underlying assets

  • 12

    The benefits of investing in variable life funds include _____________________ I. Policy owners have access to pooled or diversified portfolios of investment II. Policy owners can easily change the level of the premium payments as the product design of variable life insurance policies have clear structures which cater separately for investment and insurance protection. III. Policy owners can gain access to variable life funds managed by professional investment managers with proven track records. IV. Policy owners can buy a variable life insurance policy only with a high initial investment.

    I, II, and III

  • 13

    The selling price under a variable life insurance policy is:

    The price at which units under the policy are offered for the sale by the life company

  • 14

    Under the dual pricing method of single premium policies ______________

    The policyholder buys the units at the offer price and sells the units at the bid price

  • 15

    If the current offer price = P2.50 and the Bid-offer spread = 4%, calculate for the bid price.

    P2.40

  • 16

    This is known as the difference between the offer price and the bid price.

    Bid-offer spread

  • 17

    What would be the withdrawal value after a year? Offer Price = Php16.00 Bid-offer spread = 4.5% Number of Units bought = 25,000 Policy Fee = Php1,800 Admin and Mortality charge = Php8,750 Top-up Fee = Php700 Admin for Top-up = Php2,000 Sum assured is 190% of single premium or the value of the units, whichever is higher. ASSUMPTIONS: 1. Charges and Fees are deducted after the single premium has been invested into the account. 2. The growth rate of the unit price and the bid-offer spread is maintained at 8% and 4.5% respectively.

    401,107.58

  • 18

    With traditional participating life insurance products, the allocations to policy owners in the form of dividends ____________________: I. Are not directly linked to the life company’s investment performance II. Have already been smoothened by the life company III. Do not have the highs and lows of investment returns as in good investment years of life company IV. Are not fixed at the inception of the policy, but are greatly dependent on the investment performance of the life company

    II, III, and IV

  • 19

    Term insurance _________________________.

    Provides protection for a specific period and has no savings element.

  • 20

    The objective of satisfying customers need profitably can be achieved by an agent through I. The giving of freebies to the customers II. Extensive investment training by the company III. The use of sales plan, where sales goals, strategic and objectives are coordinated with market analysis, segmentation and targeting IV. The giving of monetary assistance and discount to the customers

    II and III

  • 21

    Which of the following statement about rebating are TRUE? I. Rebating is prohibited under the Insurance Code II. Rebating deals with offering the prospect a special inducement to purchase a policy III. Rebating will enhance the sales performance and uphold the prestige of an agent

    I and II

  • 22

    Why is it important that the customer must understand the sales proposal in full?

    Because the impact of changes in investment condition on variable life policy borne solely by the customer

  • 23

    Which of the following statements about twisting is FALSE?

    It refers to an agent offering a prospect a special inducement to purchase a polic

  • 24

    Which of the following statement is FALSE?

    Misrepresentation is a specific form of twisting

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    問題一覧

  • 1

    Diversification in investment involves ______________________

    Reducing the risks of investment by putting one fund under management into several categories of investment

  • 2

    Which one of the following statements is NOT TRUE about the benefits of investing in a Variable Life insurance policy?

    The fund ensures definite high yield for an investor since it is managed by professionals who are well-versed in the management of risk of the investment portfolio

  • 3

    Risk can be classified into two particular categories in relation to investment. They include __________________: I. The risk of not losing some or all of a person’s initial investment II. The risk of rate of return on the investment not matching up to the individual’s expectation III. The risk of rate of return on the investment matching up to the individual’s expectation IV. The risk of losing some or all of a person’s initial investment

    II and IV

  • 4

    The benefits of investing in Variable Life fund include: I. Policyowners have access to pooled and diversified portfolio of investment. II. The policyowner can easily change the level of premium payments as the product design of Variable Life insurance policies have clear structures which cater separately for investment and insurance protection. III. Policyowners can gain access to Variable Life funds managed by professional investment managers. IV. The policyowner is relieved of the day-to-day administration of his investment.

    All of the above

  • 5

    To the policyowners, administration benefits under Variable Life include:

    Keeping track of their investment through the statements provided regularly by the insurance company.

  • 6

    Which one of the following statements about diversification in portfolio management is FALSE?

    Diversified can completely eliminate the risk of investing in stocks in a portfo

  • 7

    Which of the following statement about risk of investing in variable life funds is TRUE?

    Policy owners who invest in variable life funds with high equity investment face greater risk but can expect to achieve higher return than the traditional life insurance product over the long term

  • 8

    The flexibility benefits of investing in variable life funds include ________________: I. Policy owner can easily change the level of sum assured and switch their investment between funds II. Policy owners can easily take premium holidays and add single premium to top-ups III. Variable life insurance products have a simple product design with a clear structure which cater separately for investment and insurance protection IV. Policy owners can easily change the level of their premium payment

    I, II, and IV

  • 9

    Which of the following statements about benefits in variable life fund is FALSE?

    The fund ensures definite high yield an investor since it is managed by professional who are well- versed in the management of risks of investment portfolios

  • 10

    Which statement regarding the risk of investment in Variable Life is TRUE?

    Policyowners who invest in Variable Life funds with high equity investment face greater risk but can expect to achieve higher return than Traditional Life insurance policies with high equity investment.

  • 11

    Which of the following BEST describes the policy benefits variable life policies?

    The policy benefits are directly linked to the investment performance of the underlying assets

  • 12

    The benefits of investing in variable life funds include _____________________ I. Policy owners have access to pooled or diversified portfolios of investment II. Policy owners can easily change the level of the premium payments as the product design of variable life insurance policies have clear structures which cater separately for investment and insurance protection. III. Policy owners can gain access to variable life funds managed by professional investment managers with proven track records. IV. Policy owners can buy a variable life insurance policy only with a high initial investment.

    I, II, and III

  • 13

    The selling price under a variable life insurance policy is:

    The price at which units under the policy are offered for the sale by the life company

  • 14

    Under the dual pricing method of single premium policies ______________

    The policyholder buys the units at the offer price and sells the units at the bid price

  • 15

    If the current offer price = P2.50 and the Bid-offer spread = 4%, calculate for the bid price.

    P2.40

  • 16

    This is known as the difference between the offer price and the bid price.

    Bid-offer spread

  • 17

    What would be the withdrawal value after a year? Offer Price = Php16.00 Bid-offer spread = 4.5% Number of Units bought = 25,000 Policy Fee = Php1,800 Admin and Mortality charge = Php8,750 Top-up Fee = Php700 Admin for Top-up = Php2,000 Sum assured is 190% of single premium or the value of the units, whichever is higher. ASSUMPTIONS: 1. Charges and Fees are deducted after the single premium has been invested into the account. 2. The growth rate of the unit price and the bid-offer spread is maintained at 8% and 4.5% respectively.

    401,107.58

  • 18

    With traditional participating life insurance products, the allocations to policy owners in the form of dividends ____________________: I. Are not directly linked to the life company’s investment performance II. Have already been smoothened by the life company III. Do not have the highs and lows of investment returns as in good investment years of life company IV. Are not fixed at the inception of the policy, but are greatly dependent on the investment performance of the life company

    II, III, and IV

  • 19

    Term insurance _________________________.

    Provides protection for a specific period and has no savings element.

  • 20

    The objective of satisfying customers need profitably can be achieved by an agent through I. The giving of freebies to the customers II. Extensive investment training by the company III. The use of sales plan, where sales goals, strategic and objectives are coordinated with market analysis, segmentation and targeting IV. The giving of monetary assistance and discount to the customers

    II and III

  • 21

    Which of the following statement about rebating are TRUE? I. Rebating is prohibited under the Insurance Code II. Rebating deals with offering the prospect a special inducement to purchase a policy III. Rebating will enhance the sales performance and uphold the prestige of an agent

    I and II

  • 22

    Why is it important that the customer must understand the sales proposal in full?

    Because the impact of changes in investment condition on variable life policy borne solely by the customer

  • 23

    Which of the following statements about twisting is FALSE?

    It refers to an agent offering a prospect a special inducement to purchase a polic

  • 24

    Which of the following statement is FALSE?

    Misrepresentation is a specific form of twisting