問題一覧
1
An annuity that is purchased with a lump sum and whose benefits begin after 12 months is called a
single premium deferred annuity
2
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
3
When replacing a policy the producer must present with a notice regarding replacement of life insurance
at the time of the application
4
The possibly of a financial loss incurred by a life insurance company for the premature death of a insured is known as a
Risk
5
The medical information bureau (MIB) is a nonprofit trade association that maintains
Medical information on applicants for the life and health insurance
6
A person who signs a fraudulent claim form may be found guilty of
perjury
7
Which policy is a combination of annual renewable term insurance and interest-sentive cash values
universal life
8
The right to a full refund of premium for insured age 60 or older is
30 days
9
The premium modes can be best described as the
frequency of premium payment
10
Intentionally omitting a history of heart problems on an application is
concealment
11
A tax sheltered annuity (TSA) is a qualified plan available for
nonprofit oraganization
12
The intent of replacement regulation is to protect the
policy owner
13
Which provision allows a lapsed policy to be put back in force
reinstatement
14
According to the California department of insurance an instrument whose article s of incorporation are registered in OSLO, Norway is considered an
alien insurer
15
Mortability is defined as the
rate of the death
16
Which of the. Following is not a characteristic of group life insurance
a group may exist for the purpose of purchasing insurance
17
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
18
The law of larger nunmebrs allows an insurance company to predict he expected losses among
members of a group of individuals with similiar risks
19
In an insured legal reserve fund are found to be less than the minimum required by law the insurer is considered
decreasing term
20
Which type of policy would be suitable to protect the balance of home mortgage
decreasing term
21
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
22
Which annuity pay guarantees you the return of all the principal invested in the contract
refund life annutiy
23
Which of the following statement is NOT true about participating polices
they pay dividends to stockholders
24
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
25
According to the California insurance code ,life-only producers must records of their transaction for at least
5 years
26
Which if these si NOT an element of a legal contract
unilateral
27
Which statement is INCORRECT about fixed annuity
income payments vary from month to month
28
In a group policy the employer receives
master contract
29
The risk of a loos to an insurance company is also referred to as a /an.
exposure
30
With a modified premium whole life contract premium payment are
lower in the early years of the contract
31
If a misstatement of each is discovered during the process of a life insurance claim the insurer will
Adjusted death benefit
32
The paying time for different and notice is also known as
Accumulation period
33
Statements made by an advocate on an application for insurance are considered to be
Representations
34
The cost of a loss is known as
Peril
35
When a producer ,broker , or solicitor handles premium for an insurer they are acting in which the following capacities
fiduciary
36
What is the risk classification for those who are insurability but have a higher then average risks
substandard
37
The option that pays a specified amount to the annuitant with remaining value payable to a beneficiary is
life only
38
Money bored dorm a life insurance policy cash value is
not taxable
39
An insured who submits a fradulent claim to an insure is an example of an
moral hazard
40
Selling which of the following policies would require a license by FINRA
variable universal life
41
The transfer of possible financial loss to another party refers to
insurance
42
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
43
Which of the following is NOT a risk management technique
exposure
44
Social security benefits do NOT include
workers completion
45
To be insurable a risk must NOT be
catastrophic
46
A life insurance death benefit paid in a lump sum to a beneficiary is
not subject to any taxes
47
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
48
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
49
Which document describes the specific features and elects of a policy
policy summary
50
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
51
A private and civil wrong for which a remedy may be sought through legal action is known as a
tort
52
If an annuitant before the annuilization period , what preoccupations will the beneficiary receive
acummulation value or the premiums paid , which ever is greater
53
Life-only agents may transact all of the following type of insurance EXCEPT
24 hours care coverage
54
If the cash value exceeds the premium paid in whole life policy what are the tax consequences if the policy is surrendered
unilateral contract
55
Which of the following policies could be expected to have the lowest premium
straight life
56
When completing an apllication for life insurance a producer should do which of the following
bind the applicant coverages
57
Which of the following characterizes a secular risk
having the possibility for loss or gain
58
Which policy provision include the application and the first premium from the insured and the promise to par from the insurer
consideration
59
The guaranteed insurability rider allows the policy owner to purchase additional insurance at the insured
attained age
60
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
61
Whose signature is required to make changes to a written application for a life insurance policy
applicant
62
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
63
Unerwritng is the process of
determine the company’s risk regarding a proposed insured
64
An arrangement where the employer and employee agree to purchase and fund life insurance on an employee is known as a
split dollar plans
65
A contract agreements for life insurance is composed of a/an
offer and acceptance
66
Term limit on liability refers to the
death benefit of life insurance policy
67
A policy that combines whole life on the breadwinner and term on the spouse and children is called a
family policy
68
Which nonforfeirutre values maintain the original face value contract but sacrifices the length of the contract
extended term
69
Which methods of handiling risk is self insurance
retention
70
When must insurable inrest exist
at the time of application
71
Which of the. Following is not a characteristic of group life insurance
a group may exist for the purpose of purchasing insurance