Af University Final Exam (Bachelors)

25 Questions | Total Attempts: 83

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Af University Final Exam (Bachelors)

Questions and Answers
  • 1. 
     Which of the following is subtracted from the death benefit of a permanent policy at the time of a claim?
    • A. 

      A. Outstanding policy loans

    • B. 

      B. Withdrawals

    • C. 

      C. Cash Value

    • D. 

      D. Both A&B

  • 2. 
    Which of the following is not a key feature of Whole Life II?
    • A. 

      A. Guaranteed level premiums

    • B. 

      B. Permanent Insurance Protection

    • C. 

      C. Stream lined underwriting guidelines.

    • D. 

      D. Life insurance protection for a lifetime.

  • 3. 
    What is the maturity age for whole life II?
    • A. 

      90

    • B. 

      100

    • C. 

      85

    • D. 

      D. There is no maturity age.

  • 4. 
    Which of the following is a characteristic of Universal Life (UL)?
    • A. 

      Flexible premium

    • B. 

      Flexible face amounts

    • C. 

      C. Most popular Lincoln Benefit Life offering.

    • D. 

      D. All of the Above.

  • 5. 
    Which of the following is not a Legacy Secure Rider?
    • A. 

      A. Accelerated Death Benefit

    • B. 

      B. Children’s level term rider

    • C. 

      C. Accident forgiveness

    • D. 

      D. Coverage Protection Rider

  • 6. 
    Which of these is not a characteristic of an Annuity?
    • A. 

      A contract issued by an insurance Co.

    • B. 

      B. A savings vehicle that can be either fixed or variable in investment style.

    • C. 

      C. Can be looked at as a spending account.

    • D. 

      D. A product that has a guaranteed death benefit.

  • 7. 
    Which of the following annuity products are not offered by Allstate Financial (AF)?
    • A. 

      A. Allstate Good Hands Annuity

    • B. 

      B. Allstate Growth Protector

    • C. 

      C. Allstate Income Protector

    • D. 

      D. ProSaver Secure II

  • 8. 
    Underwriting questions allow the company to determine all of the following except.
    • A. 

      Purpose of Insurance

    • B. 

      B. Health status of the individual

    • C. 

      C. Congenital birth defects

    • D. 

      D. Whether the requested amount of insurance is reasonable.

  • 9. 
    Allstate Tobacco Classifications include all of the following except.
    • A. 

      A. Super preferred elite – no tobacco for 10 years.

    • B. 

      B. Preferred elite—no tobacco for 5 years

    • C. 

      C. Standard select (term plan only) no tobacco for 2 years

    • D. 

      D. Standard nonsmoker—No tobacco for 1 year

  • 10. 
    Which of the following is not a characteristic of the Sherlock Underwriting Program?
    • A. 

      Only available to applicants age 25-69

    • B. 

      B. For face amounts from $100,000 to $5,000,000.

    • C. 

      C. Available on all types of life insurance.

    • D. 

      D. Is automatically applied by underwriting.

  • 11. 
    What is the guaranteed minimum interest rate that is paid on a legacy Secure Universal Life Policy?
    • A. 

      A. 2.5%

    • B. 

      B. 3%

    • C. 

      C. 3.5%

    • D. 

      D. 4%

  • 12. 
    The Liquidity rider is:
    • A. 

      A. An option to have a percentage of the premium payments refunded if the customer owns a qualifying policy and decides to surrender the policy on or after the 7th anniversary.

    • B. 

      B. Allows you to use your cash value in your universal life policy to make house payments when you are facing a hardship to avoid foreclosure.

    • C. 

      C. Allows checking privlages on your cash value on your Universal Life Policy.

    • D. 

      D. Allows you to stop making payments on your Universal Life Policy and have the Cost of Insurance come out of your cash value.

  • 13. 
    Legacy Secure SL is for individuals interested in …
    • A. 

      A. Traditional estate liquidity

    • B. 

      B. Providing for an impaired child

    • C. 

      C. Wealth Transfer / Charitable gifting

    • D. 

      D. All of the above

  • 14. 
    Which policy does not include the Accidental Death Benefit Rider?
    • A. 

      A. True Term

    • B. 

      B. Legacy Secure

    • C. 

      C. Legacy Secure SL

    • D. 

      D. Ultra Plus

  • 15. 
    Which of the following is not a death benefit option for Ultra Plus?
    • A. 

      A. Death benefit equals the face amount

    • B. 

      B. Death benefit equals the face amount plus the policy value

    • C. 

      C. Issue ages 0-69. Death benefit equals the face amount plus premiums paid, less any partial withdrawals

    • D. 

      D. Death benefit equals face amount plus dividends.

  • 16. 
    Which of these is not a target market for Ultra Plus?
    • A. 

      A. Individual who want permanent life insurance protection with minimal death benefit.

    • B. 

      B. Looking for a vehicle for a deferred compensation plan.

    • C. 

      C. looking for the opportunity for aggressive returns on cash value

    • D. 

      D. All of the above

  • 17. 
    The Overloan Protection Rider
    • A. 

      A. Can be issued for all ages.

    • B. 

      B. When exercised, prevents the underlying policy from lapsing in the event policy loans exceed the policy value.

    • C. 

      C. When exercised triggers a one-time charge of no more than 4.5% of the policy value.

    • D. 

      D. All of the above.

  • 18. 
    Which of the following is not true of the Guaranteed Insurability Rider?
    • A. 

      A. Issue ages are0-38 (standard or better rate classes)

    • B. 

      B. Rider provides the opportunity to add additional insurance without underwriting requirements at preset dates

    • C. 

      C. Can exercise an unscheduled increase when you purchase a new car.

    • D. 

      D. Cannot be added, increased or decreased after issue.

  • 19. 
    What is the Ultra Plus grace period?
    • A. 

      30 days

    • B. 

      There is no grace period

    • C. 

      45 days

    • D. 

      61 days

  • 20. 
    Which of the following are Annuity phases?
    • A. 

      Accumulation Phase

    • B. 

      B. Growth Phase

    • C. 

      C. Payout Phase

    • D. 

      D. Both A and C

  • 21. 
    Who is our approved paramed vendor?
    • A. 

      Exam One

    • B. 

      B. Portamedic

    • C. 

      C. Phlebotek

    • D. 

      D. Field Health

  • 22. 
    What is a 1035 exchange used for?
    • A. 

      A. Transferring prior underwriting from one policy to another

    • B. 

      B. Transferring funds from one policy to a new policy.

    • C. 

      C. Transferring funds from policy holder to beneficiary.

    • D. 

      D. None of the above.

  • 23. 
    Medical and Paramedical requirements are determined by which of the following?
    • A. 

      Age

    • B. 

      B. Amount of death benefit applied for

    • C. 

      C. Risk involved in insured’s vocation

    • D. 

      D. Both A and B

  • 24. 
         Which of these is not a requirement the proposed insured must meet to be placed in a certain rate class?
    • A. 

      Build

    • B. 

      Family History

    • C. 

      High Risk Avocation

    • D. 

      Driving Record

  • 25. 
         Which of the following are Financial Underwriting Requirements for high face amount policies?
    • A. 

      A. Inspection Reports

    • B. 

      B. Business Financial Statements

    • C. 

      C. Consumer Database Verification

    • D. 

      D. All of the above.

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