Af University Bachelors Final Exam
- 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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