Af University Final Exam (Associates)

25 Questions | Total Attempts: 299

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Af University Final Exam (Associates)

Questions and Answers
  • 1. 
    How is LQOL for Endorsements different than LQOL for new business (auto quote)?
    • A. 

      You have no access to AccessAllstate.

    • B. 

      There is no difference.

    • C. 

      The LQOL for Endorsements will automatically recognize if the client has an Allstate/LBL life policy.

    • D. 

      None of the above

  • 2. 
    How does the client qualify for  Allstate Basic Term rates?
    • A. 

      Have their auto insured with Allstate

    • B. 

      Between the ages of 18-45

    • C. 

      Own their residence

    • D. 

      All of the above

  • 3. 
    What riders are available on Basic Term?
    • A. 

      Child Level Term

    • B. 

      Waiver of Premium

    • C. 

      Accidental Death Benefit

    • D. 

      Accelerated Death Benefit

  • 4. 
     What is the coverage limit with the Primary Insured Term Rider?
    • A. 

      30 years

    • B. 

      10 years

    • C. 

      20 years

    • D. 

      The lesser of 20 years or insured’s attained age 70

  • 5. 
    How many responses are available with LQOL when quoting an auto if the producer does not have L/H Binding authority?
    • A. 

      Six

    • B. 

      Five

    • C. 

      Two

    • D. 

      None

  • 6. 
    All of the following would be reasons for needing life insurance on a child Except?
    • A. 

      Establish future insurability

    • B. 

      Replace income

    • C. 

      Start building an estate

    • D. 

      Provide access to cash value

  • 7. 
    When working with an index universal life policy, the term“ floor “ is what?
    • A. 

      The S&P Index averaging method that is used.

    • B. 

      The maximum amount of return that is credited to policy in the current year

    • C. 

      The maximum surrender charge

    • D. 

      The minimum amount of return that is credited to the polcy in the current year

  • 8. 
     What are the three databases used when underwriting a Basic Term applicatioin?
    • A. 

      CBC, MIB and Prescription

    • B. 

      MIB, MLB and MVR

    • C. 

      MVR, MIB and Prescription

    • D. 

      TTT, CBC and MLB

  • 9. 
    How many Basic Term policies are allowed per customer?
    • A. 

      One

    • B. 

      Two

    • C. 

      As many as you want

    • D. 

      Four

  • 10. 
     If you are looking for simple affordable protection that gives you the largest amount of coverage at a low initial cost, a TrueTerm may be right for you for all the following reasons Except?
    • A. 

      You just got married

    • B. 

      Became a new parent

    • C. 

      Want to build some cash value

    • D. 

      Bought a new home

  • 11. 
    The waiver of premium rider helps to protect the insured in the case of _?
    • A. 

      Partial disability

    • B. 

      Accidental death

    • C. 

      Permanent disability

    • D. 

      Forgetting to pay your premium

  • 12. 
    The conversion privilege on a TrueTerm policy is available for how long?
    • A. 

      The first year only

    • B. 

      Always ten years

    • C. 

      As long as the insured is insurable

    • D. 

      Ten years or the anniversary after age 60 whichever is earliest

  • 13. 
    Where is App On-line located?
    • A. 

      AccessAllstate

    • B. 

      Alliance

    • C. 

      Gateway

    • D. 

      Have no idea

  • 14. 
    Part 2 of the life application covers what part of the applicant?
    • A. 

      General information

    • B. 

      Health information

    • C. 

      Beneficiaries

    • D. 

      Payment options

  • 15. 
    When is the best time to ask our clients about life insurance?
    • A. 

      Only when they ask us

    • B. 

      When we can find the time

    • C. 

      When we know all there is to know about life insurance

    • D. 

      Today

  • 16. 
    Using the Life Insurance Needs Analysis (LINA) which of the following expenses are most important to consider?
    • A. 

      Mortgage and other outstanding debts.

    • B. 

      Funeral and other final expenses.

    • C. 

      Capital needed for college.

    • D. 

      All of the above

  • 17. 
    Which of the following would be an example of a life event?
    • A. 

      Attending a Taylor Swift concert .

    • B. 

      Your young child takes his or her first step.

    • C. 

      Getting Married.

    • D. 

      Taking a Caribbean cruise.

  • 18. 
    Why would you sell life insurance for a juvenile?
    • A. 

      To insure his health.

    • B. 

      To keep his grandparents happy.

    • C. 

      To make sure the parents standard of living won’t be diminished.

    • D. 

      To establish future insurability.

  • 19. 
     The Green Sheet process will increase my AF sales by…
    • A. 

      Reviewing all of the items that you currently have insured with the client.

    • B. 

      Finding out if they own a motorcycle.

    • C. 

      Verifying where they live and their email address.

    • D. 

      Finding out if they have any life insurance outside of an employer plan.

  • 20. 
    Which of the following fills a personal need for life insurance?
    • A. 

      Saving through life insurance to help toward financial goals.

    • B. 

      Provide supplemental retirement income.

    • C. 

      Wealth transfer and estate or tax planning.

    • D. 

      All of the above.

  • 21. 
    Which of the following is not true about True Term?
    • A. 

      Minimum death benefit ages 18-45 is $200,000.

    • B. 

      Issue ages are 18-70.

    • C. 

      Minimum death benefit ages 46 and up is $50,000.

    • D. 

      Any term period 10 to 30 years.

  • 22. 
    Which of the following health problems would not disqualify you immediately for Basic Term Insurance coverage?
    • A. 

      Stroke

    • B. 

      Diabetes

    • C. 

      Asthma

    • D. 

      Kidney disease

  • 23. 
    What is the best way to find people to sell life insurance to?
    • A. 

      Just Ask all of the people who call you.

    • B. 

      Use the Green Sheet process on every client.

    • C. 

      Ask every person you talk to (no matter what)

    • D. 

      All of the above

  • 24. 
    Who is responsible to sell life insurance in your agency?
    • A. 

      The Agent

    • B. 

      LSPs

    • C. 

      EFSs

    • D. 

      Everyone

    • E. 

  • 25. 
    Which of the following is true about a counter offer for Basic Term?
    • A. 

      You can counter offer the applicant a maximum coverage amount of $75,000 at a rated price.

    • B. 

      The basic term counter offer is valid for 30 days.

    • C. 

      A counter offer is only available for true term.

    • D. 

      If the client accepts the offer within 7 days they receive a 10% discount.

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