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Q 1/8
Score 0
All of the following statements regarding term life insurance are correct EXCEPT
30
An option to convert provides that a term life insurance policy can be exchanged for a permanent one
Both the option to renew and the option to convert relieve the insured from furnishing evidence of insurability
A 3-year renewable policy allows a term policyowner to renew the same coverage for another 3 years
BA 3-year renewable policy allows a term policyowner to increase coverage for the next 3 years
Q 2/8
Score 0
The cash values of life insurance policies belong to which of the following?
60
Insurer
Insured
Beneficiary
Policyowner
8 questions
Q.
All of the following statements regarding term life insurance are correct EXCEPT
1
30 sec
Q.
The cash values of life insurance policies belong to which of the following?
2
60 sec
Q.
All of the following statements regarding basic forms of whole life insurance are correct EXCEPT
3
60 sec
Q.
What type of policy would be best used when the need for protection declines from year to year?
4
60 sec
Q.
All of the following statements about term insurance are correct EXCEPT
5
60 sec
Q.
Bob purchases a $50,000 5-year level term policy. All of the following statements about Bob’s coverage are correct EXCEPT
6
60 sec
Q.
Mrs. Williamson purchases a 5-year $50,000 level term policy with an option to renew. At the end of the 5-year term, she renews the policy. Which of the following statements is CORRECT?
7
60 sec
Q.
A policy covering 2 lives that only pays a death benefit when the second insured person dies is
