Explore the fundamentals of life insurance through this quiz. Topics include liquidity, estate conservation, viatical settlements, and the roles of insurance professionals. Designed for learners to understand key insurance concepts and their practical implications.
Small employers
Military personnel
The elderly
Low income individuals and families
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Benefit Period
Benefit Check Period
Buy Sell Period
Blackout Period
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Annually
Semi-annually
Quarterly
Monthly
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The insured is receiving payments each month in retirement
The policy owner receives dividend checks each year
Cash values can be borrowed at any time
The death benefit replaces the assets that would have accumulated if the insured had not died
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$3,000 or less
$1,000 or less
$2,500 or less
$5,000 or less
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Estate Creation
Estate Conservation
Estate Compensation
Estate Calculation
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Leaving a copy or original of all solicitation material used for presentation to the applicant
Submitting all expenses to creditors
Submitting to the replacing insurer a copy of all soliciting material
Submitting to the replacing insurer a statement signed by the applicant as to whether or not he has existing Life insurance
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Location of residence
Number of children
Avocation
Marital status
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A Medical examination
The Medical Information Bureau
The Agent’s Report
The Inspection Report
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The Key Person is the owner and the employer is the beneficiary
The employer is the owner and beneficiary
The employer is the owner and the Key Person is the beneficiary
The Key Person is the owner and beneficiary
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PPO individual health insurance
Group universal life insurance
Term group life insurance
Tax-exempt deferred annuities
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Is given by the agent only to applicants who fully prepay all scheduled premiums in advance of policy issue
Is intended to provide coverage on a date earlier than the date of the issuance of the policy
Guarantees the applicant that a policy will be issued in the amount applied for in the application
Serves as proof that the agent has determined the applicant to be fully insurable for coverage by the insurance company
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The Life provider
The Viatical Settlement Provider
The Settlement Broker
The Life Broker
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Only what is approved by the Insurance commissioner
Cost of policy benefit or loss of which the benefit is payable
Misleading statements about costs
Period of time for which any benefit is payable
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