Question 1 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link A married couple who wants life insurance benefits to pay estate taxes when the second spouse dies should purchase what policy? A. Family policy. B. Joint life policy. C. Survivorship policy. D. Universal life policy. Submit Answer
Question 2 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Unfair methods of competition laws prohibit a life agent from preparing an insurance quote that includes A. policy comparisons. B. misleading dividend payouts. C. estimated accrual information. D. financial information about the insurer. Submit Answer
Question 3 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link What does the statement 'Life insurance creates an immediate estate' mean? A. Premiums are due and payable immediately. B. The total cash value is available immediately. C. The total death benefit is paid whenever the insured dies. D. Policy proceeds are automatically paid to the insured's estate. Submit Answer
Question 4 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Which of the following statements about life insurance policy loans is correct? A. Policy loans may be repaid at any time while the policy is in force. B. Unpaid policy loans become debts of a deceased policymaker’s estate. C. Policy loans can be used to pay premiums without affecting the amount of the death benefit. D. A policy loan establishes a debtor-creditor relationship between the insurer and the policymaker. Submit Answer
Question 5 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link The tendency of a person who has a higher than average exposure to loss to purchase insurance is known as A. adverse selection. B. law of large numbers. C. probability distribution. D. risk pooling. Submit Answer