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Insurance Exam Practice Exam: Questions and Answers Already Passed

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Insurance Exam Practice Exam: Questions and Answers Already Passed Which of the following annuity benefit payment options would generate the highest monthly payments to the contract owner upon annu... itization? ✔✔Pure or straight life All of the following are dividend options on a participating life insurance policy: ✔✔Paid-up additions 1-year term Cash The person upon whose life an annuity is based is known as the: ✔✔Insured When a policyowner uses the cash value in their policy to buy a lesser amount of permanent life insurance, they have exercised which nonforfeiture option: ✔✔Reduced paid-up Which of the following life insurance settlement options enables the beneficiary to conserve the proceeds of a life insurance policy? ✔✔Interest only In the case of a variable annuity sold to a senior citizen in this state for which the owner has directed that the premium be invested in the mutual funds underlying the contract during the 30- day cancellation period, cancellation during that period entitles the owner to a refund of: ✔✔The account value All of the following are true regarding annuities ✔✔They are purchased by those who are worried about outliving their savings. They are not suitable as short term investments. They may be used as a life insurance settlement option. Which of the following would not be considered to be [Show More]

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