Life-Producer Practice Questions

A.  

Disability

B.  

Long-term care

C.  

Workers' compensation

D.  

Burial

A.  

It is deducted from the face amount of the policy together with any interest due.

B.  

The beneficiary has an obligation to pay the amount to the insurance company.

C.  

It represents a primary claim against the estate of the insured.

D.  

It is canceled, and the beneficiary receives the face amount of the policy.

A.  

Legible and brief description of the policy on the first page

B.  

Notary seal

C.  

Premium coupon book

D.  

Financial statement of the life insurance company

A.  

Adhesion

B.  

Waiver

C.  

Estoppel

D.  

Subrogation

A.  

Until the annuitant dies, or for ten years, whichever is longer

B.  

Until the annuitant dies, and for an additional ten years

C.  

Only until the annuitant dies, regardless of when death occurs

D.  

Only for ten years, regardless of how long the annuitant lives

A.  

Ethnic heritage

B.  

Amount of insurance applied for

C.  

Driving record

D.  

Family health history

A.  

Most of the premium amount purchases whole life insurance for the head of the household

B.  

Life insurance coverage is provided automatically to children born during the policy period

C.  

Coverage is available only to heads of households who are 30 years old or younger

D.  

Coverage for dependents can be converted to whole life insurance without evidence of insurability

A.  

Can be any amount as determined by the employer from year to year

B.  

Must be the same dollar amount for every full-time employee

C.  

Cannot exceed maximum limits set by the Internal Revenue Service

D.  

Usually reflects the employee's individual work performance each year

A.  

The Medical Information Bureau report

B.  

The application attached to the policy

C.  

Any attending physician's statement

D.  

The producer's report to the insurer

A.  

5%

B.  

10%

C.  

20%

D.  

50%