
Types of Life Policies...Q3

Quiz
•
Professional Development
•
Hard
Demetria Edison
Used 5+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of life insurance policy generates immediate cash value?
Decreasing Term
Continuous Premium
Single Premium
Level Term
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
During partial withdrawal from a universal life policy, which portion will be taxed?
Loan
Interest
Cash value
Principal
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who bears all of the investment risk in a fixed annuity?
The beneficiary
The annuitant
The insurance company
The owner
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of life insurance policy allows the policy owner to pay more or less than the planned premium?
Straight whole life
Universal life
Variable life
Decreasing term
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A man decided to purchase a $100,000 Annually Renewable Term Life policy to provide additional protection until his children finished college. He discovered that his policy
Decreased death benefit at each renewal.
Required a premium increase each renewal.
Built cash values.
Required proof insurability every year.
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following is TRUE regarding the annuity period?
It may last for the lifetime of the annuitant.
During this period of time the annuity payments grow interest tax deferred.
It is also referred to as the accumulation period.
It is the period of time during which the annuitant makes premium payments into the annuity.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following products requires a securities license?
Variable annuity
Fixed annuity
Equity Indexed annuity
Deferred annuity
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