Question 1 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Under a Universal Life Insurance policy, a corridor represents the A. gap between the total death benefit and the policy's cash value. B. time allotted to the insured to convert a group policy to an individual policy. C. stipulated time period that a policy may be reinstated after it has lapsed. D. percentage of benefits paid to each of the policy's beneficiaries. Submit Answer
Question 2 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link When trying on wedding rings at a jewelry store, a woman left her engagement ring on the countertop only to return later and find it missing. The woman experienced a A. transfer of risk. B. hazard. C. peril. D. loss. Submit Answer
Question 3 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Licenses for a life settlement broker MUST be renewed A. every year. B. every 2 years. C. every 4 years. D. every 7 years. Submit Answer
Question 4 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link An insured wants to purchase a policy with three key elements: flexible premium, death benefit, and the choice of how the cash value will be invested. The insured should purchase A. adjustable life. B. universal term life. C. variable universal life. D. graded premium whole life. Submit Answer
Question 5 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link A common disaster clause states that if the beneficiary dies from the same accident as the insured individual, the insurer will proceed as if the A. insured individual outlived the beneficiary. B. beneficiary outlived the insured individual. C. beneficiary was never named on the policy. D. beneficiary and the insured individual died simultaneously. Submit Answer