Team Af Quiz - Review

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| By Alison Anderson
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Alison Anderson
Community Contributor
Quizzes Created: 16 | Total Attempts: 2,418
Questions: 10 | Attempts: 116

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Team Af Quiz - Review - Quiz

Questions and Answers
  • 1. 

    The "Guaranteed Insurability Rider" is available on all the following policies "except"?

    • A.

      TotalAccumualtor

    • B.

      AWLA

    • C.

      TrueTerm

    • D.

      Ultra Plus

    Correct Answer
    C. TrueTerm
    Explanation
    The "Guaranteed Insurability Rider" is available on all the mentioned policies except for the TrueTerm policy.

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  • 2. 

    Which of the following policies have guaranteed premiums and guaranteed cash values?

    • A.

      AWLA

    • B.

      TrueTerm

    • C.

      Legacy Secure

    • D.

      Ultra Plus

    Correct Answer
    A. AWLA
    Explanation
    AWLA is the policy that has guaranteed premiums and guaranteed cash values. This means that the premiums paid for the policy will remain the same throughout the life of the policy, and the policyholder will also have a guaranteed cash value that they can access if needed. The other policies listed may have different premium structures or may not offer guaranteed cash values.

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  • 3. 

    You are planning to do a term conversion on on a existing TrueTerm policy. Where can you find the underwriting class that the policy was"issued as" while viewing the current policy (view the "Service This Customer" area)?

    • A.

      View Transactions

    • B.

      Contract Information Change

    • C.

      View Customer Information

    • D.

      Request Billing Change

    Correct Answer
    C. View Customer Information
    Explanation
    While viewing the current policy in the "Service This Customer" area, you can find the underwriting class that the policy was "issued as" by selecting "View Customer Information".

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  • 4. 

    The Extended Coverage Option under the  "Coverage Gurantee Rider" that is available on the TotalAccumulator provides a guaranteed death benefit for 20 years or age 70 whichever is greater. True or False?

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The Extended Coverage Option under the "Coverage Guarantee Rider" on the TotalAccumulator offers a guaranteed death benefit for a minimum of 20 years or until the insured reaches age 70, whichever is longer. This means that if the insured passes away within the specified time frame, the policy will pay out a death benefit. Therefore, the statement is true.

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  • 5. 

    Which of the following statements is "false" regarding the Ultra Index policy?

    • A.

      It is considered a fixed product

    • B.

      The "Floor" is 0%

    • C.

      Can not write juveniles (under 18)

    • D.

      The minium interest guarantee is 2%

    Correct Answer
    C. Can not write juveniles (under 18)
    Explanation
    The statement "Can not write juveniles (under 18)" is false regarding the Ultra Index policy. This means that the policy does allow writing insurance for individuals who are under 18 years old.

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  • 6. 

    When using the "Product Info" drop down under "Products" if you are viewing TrueTerm (LBL company view) you can use the "Quick Links" to jump to information on the Face Amount, Riders, Conversion Privileges and Issue Ages. True or False?

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    When using the "Product Info" drop down under "Products" in the TrueTerm (LBL company view), you can indeed use the "Quick Links" to jump to information on the Face Amount, Riders, Conversion Privileges, and Issue Ages. This means that the statement is true.

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  • 7. 

    On a "Child Term Rider" when any child on the rider  reaches Age 25, they can convert this coverage to 5x the face amount of the rider and have their own policy without proof of insurability. What is/are the options they have as to what kind of policy that they can convert to? 

    • A.

      Another term policy

    • B.

      Permanent policy (could have a term rider)

    • C.

      Only an Allstate policy

    • D.

      None

    Correct Answer
    B. Permanent policy (could have a term rider)
    Explanation
    When a child on the "Child Term Rider" reaches age 25, they have the option to convert their coverage to a permanent policy. This means that they can have their own policy without needing to provide proof of insurability. The permanent policy they can convert to may also include a term rider, which provides additional coverage for a specified period of time. Therefore, the correct answer is "Permanent policy (could have a term rider)".

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  • 8. 

    UL policies have "flexible" premiums and "flexible" death benfits. The whole life polcies have "guaranteed" premiums and "guaranteed" death benfits. True or False?

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The statement is true. UL policies, which stands for universal life policies, have flexible premiums and flexible death benefits. This means that the policyholder can adjust the amount of premium they pay and the death benefit amount throughout the life of the policy. On the other hand, whole life policies have guaranteed premiums and guaranteed death benefits. This means that the premium amount and death benefit amount remain fixed for the entire duration of the policy.

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  • 9. 

    The "Liquidity Rider" is available on the following policy?

    • A.

      Ultra Plus

    • B.

      L:egacy Secure

    • C.

      AWLA

    • D.

      TrueTerm

    Correct Answer
    B. L:egacy Secure
    Explanation
    The "Liquidity Rider" is available on the L:egacy Secure policy.

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  • 10. 

    Your client wants a policy that has the following; level premiums that are set and will not increase, death benefit that is certain to be there and will not decrease (it could increase) and increasing cash value that is safe, secure for the future (regardless of market conditions). Which policy would best fit their needs?

    • A.

      TrueTerm

    • B.

      Allstate Whole Life Advantage

    • C.

      Ultra Plus

    • D.

      Legacy Secure

    Correct Answer
    B. Allstate Whole Life Advantage
    Explanation
    The Allstate Whole Life Advantage policy would best fit the client's needs because it offers level premiums that will not increase over time. Additionally, it guarantees a death benefit that will not decrease and has the potential to increase. The policy also provides increasing cash value that is safe and secure for the future, regardless of market conditions.

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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 19, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Mar 04, 2014
    Quiz Created by
    Alison Anderson
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