Question 1 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Without written consent, a policyowner CANNOT change the beneficiary if he has named A. a contingent beneficiary. B. a revocable beneficiary. C. a permanent beneficiary. D. an irrevocable beneficiary. Submit Answer
Question 2 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Open perils are BEST defined as A. losses specifically named in the policy. B. losses that have specific coverage limits within the policy. C. losses that are not specifically limited or excluded. D. basic plus broad perils. Submit Answer
Question 3 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Statements made by a proposed Insured on an application for life Insurance are called A. provisions. B. guarantees. C. representations. D. warranties. Submit Answer
Question 4 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link The applicant must face the possibility of losing something of value in the event of the Insured’s death. This principle is known as A. insurable interest. B. adverse selection. C. indemnification. D. vistical settlement. Submit Answer
Question 5 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link What is the approach to assessing the consumer's need for life insurance that focuses on an individual's future stream of income? A. Needs approach B. Affordability approach C. Human Life Value approach D. Return of investment approach Submit Answer