Questions about Insurance 2

Questions about Insurance 2

Professional Development

20 Qs

quiz-placeholder

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Questions about Insurance 2

Questions about Insurance 2

Assessment

Quiz

Financial Education

Professional Development

Medium

Created by

Trang Huyền

Used 5+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

All of these are considered sources of underwriting information about an applicant EXCEPT

Inspection Report

Credit Report

Rating Services

Medical Information Bureau

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following types of policies pays a benefit if the insured goes blind

Universal life

AD&D

Endowment

Adjustable life

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Two partners own equal shares in a business worth a total of $1,000,000. If they both commit to the purchase of a life insurance policy that will fund a Buy-Sell Agreement, which of the following is TRUE

Each partner owns a $1,000,000 policy on their own life

Each partner owns a $1,000,000 policy on their partner's life

Each partner owns a $500,000 policy on their own life

Each partner owns a $500,000 policy on their partner's life

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Variable annuities may invest premiums in each of the following, EXCEPT

Common Stock

Money Market securities 

Insurer's corporate business account

Junk bonds

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following statements about accumulated interest earned on dividends from an insurance policy is true?

Partially Taxable

Tax Deductible

Nontaxable

Taxed as ordinary income

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The Commissioner of Insurance has the power and duty to take all of the following actions EXCEPT

activate insurance companies' financial reserves

compute insurance companies' required financial reserves

issue insurance licenses

handle insurance-related consumer complaints

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How are surrender charges deducted in a life policy with a rear-end loaded provision?

Deducted when the policy is discontinued

Deducted when the policy is continued

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