TRAD 81-90

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TRAD 81-90

81. Disability benefits are not paid *

1 point

a. If all policy dividends have been withdrawn

b. If there is a loan against the policy

c. For self-inflicted injuries

d. If disability resulted from sickness only

82. Setting aside possible legal impediments, which option would you recommend if an endowment policy owner, at age 65, tells you that he wants to provide his church with a monthly donation for as long as the church exists? *

1 point

c. Fixed income option

a. Interest option

d. Periodic annuity option

b. Life annuity option

83. A Family Income rider is specifically designed to ____. *

1 point

b. Provide a monthly income from the date of death of the insured to some future date specified in the contract

c. Provide an income for the adjustment period immediately following death

a. Pay twice the face amount of the policy in the event of death.

d. Provide a retirement income for the insured and his spouse

84. Nicole want to enhance her exiting policy by purchasing a separate provision coverage for a different nature. What would you recommend to her? *

1 point

a. Deposit privileges

b. Assignment

c. Dividends

d. Riders

85. Applicants for life insurance with moderate physical impairments are called sub-standard risks and ____. *

1 point

a. Are required to pay premiums on an annual basis

b. May be insured at increased rates to compensate for the extra hazard

c. Therefore cannot obtain life insurance in any company

d. Are issued policies without any non-forfeiture values

86. Life insurance companies practice risk selection primarily to ____. *

1 point

a. Establish dividend rates on participating policies

b. Determine policy reserve amount

c. Guard against anti-selection

d. Gather and test mortality statistics

87. What is the legal consideration for the promise made by the insurance company in a life insurance contract? *

1 point

a. Payment of renewal premium

b. Payment of the initial premium

c. Establishment of the reserve

d. Approval by the underwriters

88. A hazardous occupation could be defined *

1 point

a. An occupation the duties of which expose the insured to a degree of danger of sustaining injury

b. An occupation in an unhealthy working condition exposing the insured to elements which can cause sickness

c. An occupation which exposes the insured to social hazards

d. All of the above

89. Which of the following is not true about insurance premiums? *

1 point

a. Cash is required for all premiums paid in the grace period

b. The grace period is usually 31 days

c. A premium is the legal consideration needed to effectuate a life insurance policy

d. Premiums which are paid quarterly or semi-annually are higher than those paid annually

90. Which of the following determines the extent of medical evidence required? *

1 point

a. The age of the applicant and the proposed sum to be insured

b. Date of the last medical examination

c. Financial condition of the applicant

d. Occupation of the applicant

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