Navy Mutual Products Assessment

10 Questions | Total Attempts: 12

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Navy Quizzes & Trivia

This quiz assesses user knowledge and familiarity with Navy Mutual products.


Questions and Answers
  • 1. 
    Which of the following products is Settlement Option 3?
    • A. 

      SPDA 2-Year Lock

    • B. 

      SPDA Interest Only

    • C. 

      SPDA Settle Claims

    • D. 

      SPDA 5-Year Lock

    • E. 

      SPDA 10-Year Lock

    • F. 

      SPDA 7-Year Lock

  • 2. 
    The minimum guaranteed rate for a Settlement Option is:
    • A. 

      3%

    • B. 

      3.5%

    • C. 

      5%

    • D. 

      7%

    • E. 

      8.5%

  • 3. 
    The maximum guaranteed rate for a Settlement Option is 5%
    • A. 

      True

    • B. 

      False

  • 4. 
    Which of the following product(s) are open for new business?
    • A. 

      Express Term Plus

    • B. 

      Family Flex

    • C. 

      Flex Decreasing

  • 5. 
    Does the Express Term Plus product require a medical exam?
    • A. 

      Yes

    • B. 

      No

  • 6. 
    Which of the following product(s) are open for new business?
    • A. 

      Permanent Plus

    • B. 

      Legacy Permanent Plus

    • C. 

      Universal Life

  • 7. 
    John is listed as the Primary Beneficiary on his father's policy. John has called to obtain the value of the death benefit on this policy. What steps should the customer service representative take to provide John with the information he has requested?
    • A. 

      Search for the contract and confirm if John is listed as the owner of the policy. If John is not the owner, he legally cannot obtain values for this policy.

    • B. 

      Search for the contract and obtain the death benefit from the contract's Quotes page

    • C. 

      Conduct a Primary Search for John's father, locate the contract on the contract overview page, obtain the death benefit value and provide it to John

  • 8. 
    Jill currently holds an annuity policy at ABC Life. After researching competitive rates, she has decided to move her policy to Navy Mutual. Jill would like to exchange her annuity policy at ABC Life for Navy Mutual's UL Permanent Plus product. T/F: Jill can swtich her annuity to a UL permanent plus via a 1035 exchange.  
    • A. 

      True

    • B. 

      False

  • 9. 
    Today and moving forward, only one type of rider can be added to an existing policy. Name that rider.
    • A. 

      Child Rider

    • B. 

      Free conv Rider

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