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According to the entire contract provision, what document must be made part of the insurance policy?
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Which of the following types of policies would allow a policyowner to choose a premium amount and payment schedule?
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According to the entire contract provision, what document must be made part of the insurance policy? Copy of the original application.
Which of the following types of policies would allow a policyowner to choose a premium amount and payment schedule? Flexible premium.
What insurance concept is associated with the names Weiss and Fitch? Guides describing company financial integrity.
In terms of parties to a contract, which of the following does NOT describe a competent party? The person must have at least completed secondary education.
Which is not true about beneficiary designations? The beneficiary must have insurable interest in the insured.
An Adjustable Life policyowner can change which of the following policy features? The coverage period.
What is the benefit of choosing extended term as a nonforfeiture option? It has the highest amount of insurance protection.
When a reduced paid-up nonforfeiture option is chosen, what happens to the face amount of the policy? It is reduced to the amount of what the cash value would buy as a single premium.
The risk of loss may be classified as... Pure risk and speculative risk.
Which of the following is NOT a type of information that needs to be gathered in order to determine the value of someone's life when using the needs approach? Estimated longevity.
Which of the following features of the Indexed Whole Life policy is NOT fixed? Cash value growth.
Which type of retirement account does not require the owner to start taking distributions at age of 73? Roth IRA.
Which of the following statements is TRUE concerning the Accidental Death Rider? It will pay double or triple the face amount.
Justyne, a widow, is retiring from her job and will soon receive Social Security benefits. Which income period is Justyne about to enter? Retirement period.
Which of the following methods of calculating the amount of life insurance needed takes into account the insured's wages, years until retirement and inflation? Human Life Value Approach.
Illustrations used in the sale of life insurance policies must contain all of the following EXCEPT... The insured's financial classification.
Units with the same or similar exposure to loss are referred to as... Homogeneous.
Which statement is NOT true regarding a Straight Life policy? Its premium steadily decreases over time, in response to its growing cash value.
Which of the following is true about the premium on the children's rider in a life insurance policy? It remains the same no matter how many children are added to the policy.
An insured receives an annual life insurance dividend check. What term best describes this arrangement? Cash option.
Which of the following is true regarding a risk retention group? It is a liability insurance company owned by its members.
Which of the following named beneficiaries would NOT receive the death benefit directly from the insurer in the event of the insured's death? A minor son of the insured.
Which is the appropriate action by the insurer if a prospective insured submitted an incomplete application? Return the application to the applicant for completion.
Which of the following statements about the reinstatement provision is true? It requires the policyowner to pay all overdue premiums with interest before the policy is reinstated.
Which of the following entities will most likely regulate an insurer's advertisement on a local TV station? The marketing department of the insurance company.
Created by: desmooney04
 

 



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