in a case where the premium has not been paid and the cash values has been exhausted, the policy can still avail of the grace period.

• TRUE

• FALSE

According to the law of large numbers, events which happens seemingly by chance will actually be bound to follow a predictable pattern, if enough such happenings are observed.

• TRUE

• FALSE

anti-selection occurs when persons with poor health wish to buy insurance

• TRUE

• FALSE

a policy is still in force for the full face amount and will remain in force for a further period four years and 118 days, without the payment of any premium, has availed of paid insurance option.

• TRUE

• FALSE

in the case of misstatement of age, the amount of insurance is adjusted to the amount which the premium is paid at the correct age would have purchased

• TRUE

• FALSE

A policy the provides guaranteed cash values plus extra annual distributions and pays the insured after a specified time is known as a participating endowment

• TRUE

• FALSE

in a group insurance it is assumed that every member of the group is insurable, provided that every member of the group is working minimum number of (usually 50 hours) each week.

• true

• false

An endowment at age 65 policy with premium payable for a limited period of 20 years pays the full amount after 20 years.

• true

• false

In most life insurance applications, the largest amount of information requested is data which identifies the applicant.

• true

• false

A policy is not rendered void by reason by misstatement of the assured's death.

• true

• false