2016 Afua Pre Assesment Results

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Quizzes Created: 16 | Total Attempts: 2,472
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  • 1/20 Questions

    When is the best time to ask our clients about Life Insurance?

    • Only when they ask
    • When we can fird the time
    • When we know all there is to know about life insurance
    • Today
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About This Quiz

The 2016 AFUA pre-assessment results quiz evaluates knowledge on Allstate's Basic Term and TrueFit life insurance policies. It covers eligibility, policy specifics, underwriting databases, and sourcing leads, crucial for professionals in the insurance sector.

Assessment Quizzes & Trivia

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  • 2. 

    Which of the following would be an example of a Life Event?

    • Attending a Taylor Swift concert

    • Your young chld takes his or her first step

    • Getting Married

    • Taking a Caribbean cruise

    Correct Answer
    A. Getting Married
    Explanation
    Getting married is considered a life event because it is a significant milestone in a person's life. It marks the beginning of a new chapter and involves a commitment to a lifelong partnership. Getting married often involves a ceremony, celebration, and legal documentation, making it a significant and memorable event for individuals and their families.

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  • 3. 

    There is a discount on your auto insurance if you bundle life insurance with it.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Bundling different types of insurance policies is a common practice in the insurance industry. By bundling life insurance with auto insurance, customers can often receive a discount on their auto insurance premiums. This is because insurance companies want to incentivize customers to purchase multiple policies from them, which helps to increase customer loyalty and retention. Therefore, it is true that there is a discount on auto insurance if life insurance is bundled with it.

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  • 4. 

    The following is a way to uncover potential life leads..

    • Life leads on the ALR Splash Page

    • Use the Green Sheet process with all of your clients

    • Ask every person you talk to (no matter what)

    • All of the above

    Correct Answer
    A. All of the above
    Explanation
    The correct answer is "All of the above." This means that all of the mentioned methods, including using the ALR Splash Page, utilizing the Green Sheet process with clients, and asking every person you talk to, can help in uncovering potential life leads.

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  • 5. 

    When we ask people if they have changed jobs in the last 5 years we are trying to establish

    • If they are a good risk for an auto policy

    • What industry they work in

    • If they have 401K money with a previous employer

    • What their current income is

    Correct Answer
    A. If they have 401K money with a previous employer
    Explanation
    When we ask people if they have changed jobs in the last 5 years, we are trying to establish if they have 401K money with a previous employer. This question helps us determine if the individual has any retirement savings from their previous job, which is important information for assessing their financial stability and future planning. It can also indicate their level of commitment and longevity in previous job positions.

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  • 6. 

    Why would you sell life insurance for a juvenile?

    • Because juveniles have a lot of money

    • To make grandparents happpy

    • To make sure the parents standard of living won't be diminished

    • To establish future insurability

    Correct Answer
    A. To establish future insurability
    Explanation
    Selling life insurance for a juvenile is done to establish future insurability. By purchasing life insurance at a young age, the juvenile can secure coverage for their entire life, regardless of any future health conditions or risks. This ensures that they will have access to life insurance in the future when they may need it for their own family or financial security.

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  • 7. 

    Who is responsible to sell Life Insurance in your agency?

    • Your EFS

    • The Agent

    • LSPs

    • Everyone

    Correct Answer
    A. Everyone
    Explanation
    In this scenario, the correct answer is "Everyone." This means that all individuals within the agency are responsible for selling life insurance. This implies that it is not limited to a specific role or position such as the EFS or the agent, but rather a collective effort from all individuals within the agency.

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  • 8. 

    What does D.I.M.E. stand for?

    • Debt, Income, Mortgage, Expenses

    • Dogs, Invocies, Money, Extras

    • Debt, Income, Money, Extras

    • Donations, Income, Mortgages, Everything else

    Correct Answer
    A. Debt, Income, Mortgage, Expenses
    Explanation
    D.I.M.E. stands for Debt, Income, Mortgage, Expenses. This acronym represents the key elements that are often considered when analyzing personal or financial situations. Debt refers to any outstanding loans or financial obligations. Income represents the money earned or received. Mortgage refers to the loan taken out to purchase a property. Expenses encompass all the costs and expenditures incurred. By considering these four factors, individuals or organizations can gain a comprehensive understanding of their financial situation.

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  • 9. 

    The Green Sheets will increase my AF sales by....

    • Reviewing all of the items that you currently have insured with the client

    • Finding out if they own a motorcycle

    • Verifying where they live and their email address

    • Finding out if they have any life insurance outside of an employer plan

    Correct Answer
    A. Finding out if they have any life insurance outside of an employer plan
    Explanation
    The Green Sheets will increase AF sales by finding out if the client has any life insurance outside of an employer plan. This is because if they do have existing life insurance, it indicates that they understand the importance of life insurance and may be more likely to be interested in purchasing additional coverage. Additionally, knowing if they have life insurance outside of an employer plan allows the salesperson to tailor their pitch and offer suitable products that meet the client's needs.

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  • 10. 

    Which of the following products give you lifelong protection if properly funded?

    • Truefit

    • Basic

    • Permanent products

    • All of the above

    Correct Answer
    A. Permanent products
    Explanation
    Permanent products provide lifelong protection if properly funded. Unlike term products, which provide coverage for a specific period, permanent products such as whole life or universal life insurance offer coverage for the entire lifetime of the insured individual. As long as the policy premiums are paid, the policy remains in force and provides lifelong protection, ensuring financial security and peace of mind.

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  • 11. 

    How many Basic Term policies are allowed per customer?

    • One

    • Two

    • As many as you want

    • Four

    Correct Answer
    A. One
    Explanation
    Each customer is allowed to have only one Basic Term policy. There is no limit to the number of Basic Term policies a customer can have. The correct answer is "One."

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  • 12. 

    If you are looking for simple, affordable protection that gives you the largest amount of coverage at a low initial cost, what type of policy is best for you?

    • Whole Life

    • Universal Life

    • Term Insurance

    • All of the above

    Correct Answer
    A. Term Insurance
    Explanation
    Term insurance is the best type of policy for someone looking for simple, affordable protection with a large amount of coverage at a low initial cost. Unlike whole life and universal life policies, term insurance provides coverage for a specific term, such as 10, 20, or 30 years. It does not have a cash value component or investment features, making it more affordable compared to other types of life insurance. Term insurance is ideal for individuals who want to protect their loved ones financially during a specific period, such as when they have dependents or a mortgage to pay off.

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  • 13. 

    What are the three databases used when underwriting a Basic Term application?

    • CBC, MIB, and Prescription

    • MIB, MLB, and MVR

    • MVR, MIB, and Prescription

    • TTT, CBC, and MLB

    Correct Answer
    A. MVR, MIB, and Prescription
    Explanation
    The correct answer is MVR, MIB, and Prescription. These three databases are commonly used in the underwriting process for a Basic Term application. MVR stands for Motor Vehicle Record, which provides information about an individual's driving history and any traffic violations. MIB refers to the Medical Information Bureau, which contains medical data and records of insurance applicants. Prescription database includes information about an individual's prescription drug history, which can be used to assess their overall health and potential risks.

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  • 14. 

    How old must a client be to qualify for the Allstate Basic Term?

    • Between the ages of 16 and 60

    • Between the ages of 18 and 45

    • You can be any age to qualify for a basic term

    • Between the ages of 20 and 80

    Correct Answer
    A. Between the ages of 18 and 45
    Explanation
    The Allstate Basic Term is a type of insurance policy. In order to qualify for this policy, the client must be between the ages of 18 and 45. This age range is likely determined by the insurance company based on factors such as risk assessment and actuarial calculations. Clients younger than 18 or older than 45 may not meet the eligibility criteria set by the insurance company for this specific policy.

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  • 15. 

    The conversion privilege on a Truefit policy is available for how long?

    • The first year only

    • 10 years

    • As long as the insured is insurable

    • 15 years or the anniversary after age 65 whichever is earliest

    Correct Answer
    A. 15 years or the anniversary after age 65 whichever is earliest
    Explanation
    The conversion privilege on a Truefit policy is available for 15 years or the anniversary after age 65, whichever comes earlier. This means that the policyholder has the option to convert their Truefit policy into another type of policy within this time frame. After 15 years or the anniversary after age 65, the conversion privilege will no longer be available.

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  • 16. 

    Which of the following is true about a counter offer for Basic Term?

    • Allstate will counter offer coverage of $75,000 at a rated price.

    • The counter offer is good for 30 days

    • Counter offers are not available for Basic Term

    • If the client accepts the offer in 7 days they recieve a 10% discount

    Correct Answer
    A. The counter offer is good for 30 days
    Explanation
    The correct answer states that the counter offer for Basic Term is good for 30 days. This means that the offer will remain valid and available for the client to accept or negotiate for a period of 30 days. After this time, the counter offer may expire or become invalid.

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  • 17. 

    Which of the following is true about Truefit?

    • Minimum death benefit ages 18-45 is $200,000

    • Any term period can be chosen from 10 to 30 years

    • Minimum death benefit ages 46 and up is $50,000

    • All of the above

    Correct Answer
    A. All of the above
    Explanation
    Truefit offers a minimum death benefit of $200,000 for individuals between the ages of 18-45, and a minimum death benefit of $50,000 for individuals aged 46 and above. Additionally, Truefit allows customers to choose any term period between 10 to 30 years. Therefore, all of the statements mentioned in the options are true about Truefit.

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  • 18. 

    How many Primary Term layers are allowed on a TrueFit Policy?

    • 1

    • 4

    • 5

    • 3

    Correct Answer
    A. 5
    Explanation
    A TrueFit Policy allows for a maximum of 5 Primary Term layers. This means that the policy can have up to 5 different terms or periods of coverage, each with its own set of conditions and premiums. This allows for flexibility in adjusting the policy to meet the changing needs of the insured over time.

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  • 19. 

    What product is used when quoting through the Home + Life process?

    • Basic Term

    • Truefit

    • Allstate homeowners life insurance

    • The Bridge

    Correct Answer
    A. Truefit
    Explanation
    Truefit is the product used when quoting through the Home + Life process.

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  • 20. 

    You can find life leads on the ALR Splash Page.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The explanation for the given correct answer is that life leads can be found on the ALR Splash Page.

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Quiz Review Timeline (Updated): Mar 21, 2023 +

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

  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Aug 18, 2014
    Quiz Created by
    Alison Anderson
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