Team Af Knowledge Check

10 Questions | Total Attempts: 41

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Team Af Knowledge Check

This is a quiz to help us be more comfortable in discussing AF with EAs and LSPs. Each quiz will cover a different topic in the AF area.


Questions and Answers
  • 1. 
    You can qualify for the Allstate Basic Term rate if you own your home and you have your auto with Allstate?
    • A. 

      True

    • B. 

      False

  • 2. 
    How many layers can you add of Prime Term Rider can you have on a TrueTerm (2012) policy?
    • A. 

      0

    • B. 

      3

    • C. 

      5

    • D. 

      1

  • 3. 
    You have a customer that is a 31 year old male. He rents an apartment and has his auto insured with Allstate. He is a non-smoker.  What is the rate that you would quote him for a $100,000 Basic Term policy?
    • A. 

      23.54

    • B. 

      25.81

    • C. 

      33.33

    • D. 

      26.16

  • 4. 
    How long do I have the ability to exercise the conversion provision in a TrueTerm policy (2012)?
    • A. 

      Age 59 1/2

    • B. 

      The length of the rate guarantee

    • C. 

      10 years only

    • D. 

      10 years or the anniversary following age 60

  • 5. 
    What is the monthly rate for a 37 year old female, non-smoker and preferred underwriting class? She needs $500,000 for 30 years, $200,000 for 18 years, $200,000 for 13 years,$100,000 for 10 years with the waiver of premium rider (23yrs).
    • A. 

      $1365

    • B. 

      113.75

    • C. 

      222.22

    • D. 

      119.44

  • 6. 
    The new term prices will be most competitive for 10-20 year non-smokers with coverage of $200,000 - 1,000,000. These comprise up to what percentage of TrueTerm sales on a policy basis?
    • A. 

      50%

    • B. 

      90%

    • C. 

      33%

    • D. 

      75%

  • 7. 
    Which of the following riders is not  available on True Term?
    • A. 

      Accidental Death Benefit

    • B. 

      Accelerated Death Benefit

    • C. 

      Guaranteed Insurability Rider

    • D. 

      Childrens Term Rider

  • 8. 
    Which of the following is true about the Children Term Rider
    • A. 

      It can be purchased in 1/2 units

    • B. 

      At age 25 it can be increased to 5x the face amount

    • C. 

      You can sell a maximum of 4 units

    • D. 

      The cost per unit is $30

    • E. 

      All of the above

  • 9. 
    One of the great selling points of True Term is that it can be customized to meet the specific needs of the client.
    • A. 

      True

    • B. 

      False

  • 10. 
    A conversion credit is offered for conversions during the first 10 years, except for conversions in the first policy year. The conversion credit is equal to the total first-year premium associated with the coverage being converted on the primary insured.
    • A. 

      True

    • B. 

      False

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