exam A

PRACTICE EXAMS

exam A

71問 • 1年前PRACTICE EXAMS

問題一覧

An annuity that is purchased with a lump sum and whose benefits begin after 12 months is called a

single premium deferred annuity

A technique used to determine the amount of life insurance needed by focusing on the project earning potential of an insured is called the

Human life value approach

When replacing a policy the producer must present with a notice regarding replacement of life insurance

at the time of the application

The possibly of a financial loss incurred by a life insurance company for the premature death of a insured is known as a

Risk

The medical information bureau (MIB) is a nonprofit trade association that maintains

Medical information on applicants for the life and health insurance

A person who signs a fraudulent claim form may be found guilty of

perjury

Which policy is a combination of annual renewable term insurance and interest-sentive cash values

universal life

The right to a full refund of premium for insured age 60 or older is

30 days

The premium modes can be best described as the

frequency of premium payment

Intentionally omitting a history of heart problems on an application is

concealment

A tax sheltered annuity (TSA) is a qualified plan available for

nonprofit oraganization

The intent of replacement regulation is to protect the

policy owner

Which provision allows a lapsed policy to be put back in force

reinstatement

According to the California department of insurance an instrument whose article s of incorporation are registered in OSLO, Norway is considered an

alien insurer

Mortability is defined as the

rate of the death

Which of the. Following is not a characteristic of group life insurance

a group may exist for the purpose of purchasing insurance

When a producer collects the initial premium and issues a conditional receipt the receipt

may allow life insurance companies to start coverage befor policy delivery

The law of larger nunmebrs allows an insurance company to predict he expected losses among

members of a group of individuals with similiar risks

In an insured legal reserve fund are found to be less than the minimum required by law the insurer is considered

decreasing term

Which type of policy would be suitable to protect the balance of home mortgage

decreasing term

The rider that prides for partial payment of the death benefit in advance to help with. Nursing or convalescent home expense in the

long term

Which annuity pay guarantees you the return of all the principal invested in the contract

refund life annutiy

Which of the following statement is NOT true about participating polices

they pay dividends to stockholders

Insurance contract are based upon a doctrine which requires all parties to the contract to be honest this is know ad the doctrine of

utmost good faith

According to the California insurance code ,life-only producers must records of their transaction for at least

5 years

Which if these si NOT an element of a legal contract

unilateral

Which statement is INCORRECT about fixed annuity

income payments vary from month to month

In a group policy the employer receives

master contract

The risk of a loos to an insurance company is also referred to as a /an.

exposure

With a modified premium whole life contract premium payment are

lower in the early years of the contract

If a misstatement of each is discovered during the process of a life insurance claim the insurer will

Adjusted death benefit

The paying time for different and notice is also known as

Accumulation period

Statements made by an advocate on an application for insurance are considered to be

Representations

The cost of a loss is known as

Peril

When a producer ,broker , or solicitor handles premium for an insurer they are acting in which the following capacities

fiduciary

What is the risk classification for those who are insurability but have a higher then average risks

substandard

The option that pays a specified amount to the annuitant with remaining value payable to a beneficiary is

life only

Money bored dorm a life insurance policy cash value is

not taxable

An insured who submits a fradulent claim to an insure is an example of an

moral hazard

Selling which of the following policies would require a license by FINRA

variable universal life

The transfer of possible financial loss to another party refers to

insurance

The type of whole life insrance where premiums are payable over the whole life of the insured to age 100 is called

ordinary (straight ) life

Which of the following is NOT a risk management technique

exposure

Social security benefits do NOT include

workers completion

To be insurable a risk must NOT be

catastrophic

A life insurance death benefit paid in a lump sum to a beneficiary is

not subject to any taxes

Two business partner own life insurance on each other. If one partner dies which contract will allow the surviving arbiter to use the death benefit to purchase the deceased business intrest

buy- sell agreement

They type of policy that can be changes from one that does not have cash value to one that doe is a

convertible term policy

Which document describes the specific features and elects of a policy

policy summary

The attempt that an insurer makes to keep its existing insurance policy in force after receipt of notice of replacement from another company is called

conversation

A private and civil wrong for which a remedy may be sought through legal action is known as a

tort

If an annuitant before the annuilization period , what preoccupations will the beneficiary receive

acummulation value or the premiums paid , which ever is greater

Life-only agents may transact all of the following type of insurance EXCEPT

24 hours care coverage

If the cash value exceeds the premium paid in whole life policy what are the tax consequences if the policy is surrendered

unilateral contract

Which of the following policies could be expected to have the lowest premium

straight life

When completing an apllication for life insurance a producer should do which of the following

bind the applicant coverages

Which of the following characterizes a secular risk

having the possibility for loss or gain

Which policy provision include the application and the first premium from the insured and the promise to par from the insurer

consideration

The guaranteed insurability rider allows the policy owner to purchase additional insurance at the insured

attained age

A life policy that covers two lives and provides for payments of the death benefit upon the death of the fist insured is called

join tlife

Whose signature is required to make changes to a written application for a life insurance policy

applicant

A produce who knowingly misrepresents material information for the purpose of including a client to a lapse , forefeir , change or surrender a life insurance policy or annuity has committed an illegal practice is know as

twisting

Unerwritng is the process of

determine the company’s risk regarding a proposed insured

An arrangement where the employer and employee agree to purchase and fund life insurance on an employee is known as a

split dollar plans

A contract agreements for life insurance is composed of a/an

offer and acceptance

Term limit on liability refers to the

death benefit of life insurance policy

A policy that combines whole life on the breadwinner and term on the spouse and children is called a

family policy

Which nonforfeirutre values maintain the original face value contract but sacrifices the length of the contract

extended term

Which methods of handiling risk is self insurance

retention

When must insurable inrest exist

at the time of application

Which of the. Following is not a characteristic of group life insurance

a group may exist for the purpose of purchasing insurance

exam 7

ユーザ名非公開 · 75問 · 1年前

exam 7

75問 • 1年前

ユーザ名非公開

問題一覧

An annuity that is purchased with a lump sum and whose benefits begin after 12 months is called a

single premium deferred annuity

A technique used to determine the amount of life insurance needed by focusing on the project earning potential of an insured is called the

Human life value approach

When replacing a policy the producer must present with a notice regarding replacement of life insurance

at the time of the application

The possibly of a financial loss incurred by a life insurance company for the premature death of a insured is known as a

Risk

The medical information bureau (MIB) is a nonprofit trade association that maintains

Medical information on applicants for the life and health insurance

A person who signs a fraudulent claim form may be found guilty of

perjury

Which policy is a combination of annual renewable term insurance and interest-sentive cash values

universal life

The right to a full refund of premium for insured age 60 or older is

30 days

The premium modes can be best described as the

frequency of premium payment

Intentionally omitting a history of heart problems on an application is

concealment

A tax sheltered annuity (TSA) is a qualified plan available for

nonprofit oraganization

The intent of replacement regulation is to protect the

policy owner

Which provision allows a lapsed policy to be put back in force

reinstatement

According to the California department of insurance an instrument whose article s of incorporation are registered in OSLO, Norway is considered an

alien insurer

Mortability is defined as the

rate of the death

Which of the. Following is not a characteristic of group life insurance

a group may exist for the purpose of purchasing insurance

When a producer collects the initial premium and issues a conditional receipt the receipt

may allow life insurance companies to start coverage befor policy delivery

The law of larger nunmebrs allows an insurance company to predict he expected losses among

members of a group of individuals with similiar risks

In an insured legal reserve fund are found to be less than the minimum required by law the insurer is considered

decreasing term

Which type of policy would be suitable to protect the balance of home mortgage

decreasing term

The rider that prides for partial payment of the death benefit in advance to help with. Nursing or convalescent home expense in the

long term

Which annuity pay guarantees you the return of all the principal invested in the contract

refund life annutiy

Which of the following statement is NOT true about participating polices

they pay dividends to stockholders

Insurance contract are based upon a doctrine which requires all parties to the contract to be honest this is know ad the doctrine of

utmost good faith

According to the California insurance code ,life-only producers must records of their transaction for at least

5 years

Which if these si NOT an element of a legal contract

unilateral

Which statement is INCORRECT about fixed annuity

income payments vary from month to month

In a group policy the employer receives

master contract

The risk of a loos to an insurance company is also referred to as a /an.

exposure

With a modified premium whole life contract premium payment are

lower in the early years of the contract

If a misstatement of each is discovered during the process of a life insurance claim the insurer will

Adjusted death benefit

The paying time for different and notice is also known as

Accumulation period

Statements made by an advocate on an application for insurance are considered to be

Representations

The cost of a loss is known as

Peril

When a producer ,broker , or solicitor handles premium for an insurer they are acting in which the following capacities

fiduciary

What is the risk classification for those who are insurability but have a higher then average risks

substandard

The option that pays a specified amount to the annuitant with remaining value payable to a beneficiary is

life only

Money bored dorm a life insurance policy cash value is

not taxable

An insured who submits a fradulent claim to an insure is an example of an

moral hazard

Selling which of the following policies would require a license by FINRA

variable universal life

The transfer of possible financial loss to another party refers to

insurance

The type of whole life insrance where premiums are payable over the whole life of the insured to age 100 is called

ordinary (straight ) life

Which of the following is NOT a risk management technique

exposure

Social security benefits do NOT include

workers completion

To be insurable a risk must NOT be

catastrophic

A life insurance death benefit paid in a lump sum to a beneficiary is

not subject to any taxes

Two business partner own life insurance on each other. If one partner dies which contract will allow the surviving arbiter to use the death benefit to purchase the deceased business intrest

buy- sell agreement

They type of policy that can be changes from one that does not have cash value to one that doe is a

convertible term policy

Which document describes the specific features and elects of a policy

policy summary

The attempt that an insurer makes to keep its existing insurance policy in force after receipt of notice of replacement from another company is called

conversation

A private and civil wrong for which a remedy may be sought through legal action is known as a

tort

If an annuitant before the annuilization period , what preoccupations will the beneficiary receive

acummulation value or the premiums paid , which ever is greater

Life-only agents may transact all of the following type of insurance EXCEPT

24 hours care coverage

If the cash value exceeds the premium paid in whole life policy what are the tax consequences if the policy is surrendered

unilateral contract

Which of the following policies could be expected to have the lowest premium

straight life

When completing an apllication for life insurance a producer should do which of the following

bind the applicant coverages

Which of the following characterizes a secular risk

having the possibility for loss or gain

Which policy provision include the application and the first premium from the insured and the promise to par from the insurer

consideration

The guaranteed insurability rider allows the policy owner to purchase additional insurance at the insured

attained age

A life policy that covers two lives and provides for payments of the death benefit upon the death of the fist insured is called

join tlife

Whose signature is required to make changes to a written application for a life insurance policy

applicant

twisting

Unerwritng is the process of

determine the company’s risk regarding a proposed insured

An arrangement where the employer and employee agree to purchase and fund life insurance on an employee is known as a

split dollar plans

A contract agreements for life insurance is composed of a/an

offer and acceptance

Term limit on liability refers to the

death benefit of life insurance policy

A policy that combines whole life on the breadwinner and term on the spouse and children is called a

family policy

Which nonforfeirutre values maintain the original face value contract but sacrifices the length of the contract

extended term

Which methods of handiling risk is self insurance

retention

When must insurable inrest exist

at the time of application

Which of the. Following is not a characteristic of group life insurance

a group may exist for the purpose of purchasing insurance