03/20/20 - Life Insurance Quiz
Quiz by Christopher Jones
High School
Financial Mathematics
Texas Essential Knowledge and Skills (TEKS) - Electives
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5 questions
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- Q1Which of the following permanent life insurance policies has set premiums and set death benefits that never change over the course of the policy?Variable Life InsuranceUniversal Life InsuranceTerm Life InsuranceWhole Life Insurance300s130.180.F.10.A
- Q2Which of the following permanent life insurance policy has variable premiums AND variable death benefits depending on various factors?Term Life InsuranceUniversal Life InsuranceWhole Life InsuranceVariable Life Insurance300s130.180.F.10.A
- Q3How much annual income is recommended in the DIME method?30 years20 years10 years5 years300s130.180.F.10.B
- Q4Zara earns a net pay of $5,575 per month. She has a mortgage balance of $149,307.85. She wants enough life insurance to provide her family with 15 years of net pay and pay off the mortgage. How much life insurance does she need?$1,152,807.85$1,152,580.78$1,152,858.07$1,152,785.80300s130.180.F.10.B
- Q5Travis has a 20-year term life insurance policy with a death benefit of $600,000. His monthly premiums are $35. What is the total cost of his policy?$6,000$7,000$3,500$8,400300s130.180.F.10.A