Life insurance

Life insurance

Professional Development

10 Qs

quiz-placeholder

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Life insurance

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Assessment

Quiz

Professional Development, Business, Other

Professional Development

Hard

Created by

Surajit Basu

Used 58+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The product that does not have a savings component is

Whole Life

Endowment

Universal Life

Term Life

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The product that typically has a reducing sum insured is

Whole Life insurance

Endowment

Mortgage Term insurance

Variable Life insurance

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of these products has a fixed amount payable at maturity?

Universal Variable Life

Non-par Endowment

Whole Life participatory

Term Life

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Term products

always have a level premium, not varying each year.

have nothing payable on maturity

cannot have changes in sum insured

may not be converted to Whole Life policies

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Whole Life policies

always have bonus options

never have bonus options

have bonus options, only if the policy is participatory

have bonus options, only if the policy is non-participatory

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of these policies will not have a cash value?

Endowment

Whole Life

Universal Life

Term

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

From the age of 12 to 60, as age increases, the chances of death during each year

Stays the same

Increases

Decreases

Has no correlation with age

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