Exam FX Life Insurance Test Questions and Answers Already Passed

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Exam FX Life Insurance Test Questions and Answers Already Passed 50/50 ✔✔Ray has an individual major medical policy that requires a coinsurance payment. Ray rarely visits his physician and woul... d prefer to pay the lowest premium possible. Which coinsurance arranngement would be best for Ray? Single payment or periodic payments ✔✔Which two terms are associated directly with the way an annuity is funded? An insured borrows money from the bank and makes a collateal assignment of a part of the death benefit to secure the loan ✔✔All of the following are examples of thirs party ownership of life insurance Reduction of premium ✔✔An insured pays $1,200 annually for her life insurance premium. The insured applies this year's $300 worth of accumulated dividends to the next year's premiums, thus reducing it to $900. What option does this describe? Convert to an individual policy ✔✔A small company offers group insurance to its employees, but recently has decided to terminate the health insurance contract, leaving the workers without insurance. What can the employees do regarding their insurance? Free-Look period ✔✔What phase begins after a new policy is delivered? Revocable ✔✔An insured want to name her husband as the beneficiary of her health policy. She also wishes to retain all of the rights of ownership. The insured should have herhusband named as what type of beneficiary? 100 ✔✔In order for a debtor group to qualify for group life insurance, what should be the minimum number of participants joining the plan every year Replacement rule ✔✔Which rule would apply if an agent knows an applicant is going to cash in an old policy and use the funds to purchase new insurance? Nonforfeiture values ✔✔Which term secribes the benefits of a life insurance policy that the policyowner does not automatically relinquish even if the policy lapses? Twisting ✔✔Agents who persaude insureds to cancel a policy in favor of another one when it might not be in the insured's best interest are guilty of [Show More]

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