Af University Bachelors Pre-quiz

20 Questions | Total Attempts: 36

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Af University Bachelors Pre-quiz


Questions and Answers
  • 1. 
    Which o fthe following is subtracted from the death benefit of a permanent policy at the time of a death claim?
    • A. 

      Outstanding Policy loans

    • B. 

      Withdrawals

    • C. 

      Cash Value

    • D. 

      Both A & C

  • 2. 
    Which of the following is not a key feature of Whole Life II?
    • A. 

      Guaranteed level premiums

    • B. 

      Permanent Insurance Protection

    • C. 

      Streamlined underwriting guidelines

    • D. 

      Life insurance protection for a lifetime

  • 3. 
    What is the maturity age for Whole Life II?
    • A. 

      90

    • B. 

      100

    • C. 

      121

    • D. 

      There is no maturity age

  • 4. 
    Which of the following is a characteristic of Universal Life (UL)?
    • A. 

      Flexible premium

    • B. 

      Flexible face amount

    • C. 

      Most popular Lincoln Benefit Life offering

    • D. 

      All of the Above

  • 5. 
    Which of the following is not a Legacy Secure Rider
    • A. 

      Accelerated Death Benefit

    • B. 

      Childrens Level Term Rider

    • C. 

      Accidental Death Benefit

    • D. 

      Accident Forgiveness

  • 6. 
    Which of these is not a characteristic of an annuity?
    • A. 

      A contract issued by an insurance company

    • B. 

      A savings vehicle that can be either fixed or variable in investment style

    • C. 

      Can be looked at as a spending account

    • D. 

      A product that has a guaranteed death benefit

  • 7. 
    Underwriting questions  allow the company to determine all of the following except
    • A. 

      Purpose of insurance

    • B. 

      Health status of the individual

    • C. 

      What the client's cancer risk factor is

    • D. 

      Whether the requested amount of insurance is reasonable

  • 8. 
    Allstate tobacco underwriting clssifications include all of the following except
    • A. 

      Super Preferred Elite - no tobacco for 10 years

    • B. 

      Preferred Elite - no tobacco for 5 years

    • C. 

      Standard Select - (term plan only) no tobacco for 2 years

    • D. 

      Standard Nonsmoker - no tobacco for 1 year

  • 9. 
    What is the guaranteed minimum interest rate that is paid on a Legacy Secure Universal Life Policy?
    • A. 

      2.5%

    • B. 

      3%

    • C. 

      3.5%

    • D. 

      4%

  • 10. 
    Legacy Secure SL is for individuals interested in...
    • A. 

      Traditional Estate Liquidity

    • B. 

      Providing for an impaired child

    • C. 

      Wealth Transfer / Charitable Gifting

    • D. 

      All of the above

  • 11. 
    Which policy does not include the Accidental Death Benefit Rider?
    • A. 

      True Term

    • B. 

      Legacy Secure

    • C. 

      Legacy Secure SL

    • D. 

      Ultra Plus

  • 12. 
    Which of the following is not a death benefit option for Ultra Plus?
    • A. 

      Death benefit equals the face amount

    • B. 

      Death benefit equals the face amount plus dividends

    • C. 

      Death benefit equals the face amount plus premiums paid, less any partial withdrawals

    • D. 

      Death benefit equals the face amoung pllus the policy value

  • 13. 
    The Overloan Protection Rider
    • A. 

      Can be issued for all ages

    • B. 

      When exercised prevents the underlying policy from lapsing in the event policy loans exceed the policy value.

    • C. 

      When exercise triggers a one-time charge of no more than4.5% of the policy value

    • D. 

      All of the above

  • 14. 
    Which of the following is not true of the Guaranteed insurability Rider?
    • A. 

      Issue ages are 0-38 (standard or better rate class)

    • B. 

      Rider provides the opportunity to add additional insurance without underwrting requriements at preset dates.

    • C. 

      Can exercise an unscheduled increase when you purchase a new car

    • D. 

      Cannot be added, increased or decreased after issue

  • 15. 
    What is the Ultra Plus grace period?
    • A. 

      30 days

    • B. 

      There is no grace period

    • C. 

      20 days

    • D. 

      61 days

  • 16. 
    Which of the following are Annuity phases?
    • A. 

      Accumulation Phase

    • B. 

      Growth Phase

    • C. 

      Payout Phase

    • D. 

      Both A and C

  • 17. 
    Who is our approved Paramed Vendor?
    • A. 

      Portamedic

    • B. 

      Phlebotek

    • C. 

      Exam One

    • D. 

      Field Health

  • 18. 
    What is a 1035 exchange used for?
    • A. 

      Transferring prior underwriting from from one policy to another

    • B. 

      Transferring funds from an existing policy to a new policy

    • C. 

      Transferring funds from policy holder to beneficiary

    • D. 

      None of the above

  • 19. 
    Medical and Paramedical requirements are determined by which of the following?
    • A. 

      Age

    • B. 

      Amount of death benefit applied for

    • C. 

      Risk involved in insured's vocation

    • D. 

      Both A and B

  • 20. 
    Ultra Index is a fixed product eventhough it is tied to the S&P 500.
    • A. 

      True

    • B. 

      False

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