Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
Give this quiz to my class
Q 1/25
Score 0
Which of the below is NOT required for a legal binding contract?
60
Legal Purpose
Competent Parties
Offer and Acceptance
Good Credit
Q 2/25
Score 0
What is the grace period for a Floridian who has a life policy and is over 64 years old?
60
30 days
31 days
54 days and it can be extended if another party is advised of a pending lapse
The normal grace period plus 21 additional days
25 questions
Q.
Which of the below is NOT required for a legal binding contract?
1
60 sec
Q.
What is the grace period for a Floridian who has a life policy and is over 64 years old?
2
60 sec
Q.
Which of the following is part of maintaining a license?
3
60 sec
Q.
A few years ago the insurance industry introduced a new rider that allows an insured policy owner to become, in part, his or her own beneficiary. It is called:
4
60 sec
Q.
Which of the following is NOT correct about a participating policy?
5
60 sec
Q.
Many mutual companies can show dividend histories for over 100 years, therefore they can:
6
60 sec
Q.
There is a policy merchandising idea that returns to the beneficiary all of the premium paid during the insured’s life, as well as the policy’s face value. It is called:
7
60 sec
Q.
Basic factors in computing life premiums (rate making) do NOT include?
8
60 sec
Q.
Which of the following are types of Term Policies?
9
60 sec
Q.
Tom is the insured/owner of a $500,000 life insurance policy and dies leaving four surviving children, Mary, Carrie, Larry, Barry and a deceased child Harry. Each child receives $100,000 upon Tom’s death. This is an example of:
10
60 sec
Q.
Which of the following best defines the Uniform Simultaneous Death Act?
11
60 sec
Q.
Jim wants to re-instate his policy, he must do all the following EXCEPT:
12
60 sec
Q.
The application requires the insured to answer questions. The supplied information can be used for all EXCEPT:
13
60 sec
Q.
If an applicant requests a copy of a medical information bureau (MIB) report, the MIB will release medical information contained in the report to which of the following, if any?
14
60 sec
Q.
Which of the following statements about the Fair Credit Reporting Act is true?
15
60 sec
Q.
Which of the following laws requires an insurance company to notify an applicant in writing that an investigative consumer report may be made on him/her?
16
60 sec
Q.
XYZ Corporation purchased a group Life contract to cover all 59 employees and paid the total premium. What percentage of employees must participate under this arrangement?
17
60 sec
Q.
Features of group insurance do NOT include which of the following?
18
60 sec
Q.
All of the following are standard life insurance policy nonforfeiture options EXCEPT:
19
60 sec
Q.
John purchased a $100,000 life insurance policy and pre-paid for 3 years. After 9 months he committed suicide. The insurance company would:
20
60 sec
Q.
A Joint and 2/3rds annuity distribution is selected:
21
60 sec
Q.
Al puts $10,000 into a fixed annuity. He is expected to receive $20,000 during his lifetime. Al’s monthly taxable income is:
22
60 sec
Q.
During the time one is paying into a non-qualified variable annuity on a regular basis, they are NOT doing which of the following?
23
60 sec
Q.
Which of the annuity distributions below will NOT have a named beneficiary?
24
60 sec
Q.
Which life insurance provision allows the policyowner to inspect and, if dissatisfied, to return the policy for a full refund?
