Ult Part 1, Quiz 1

6 Questions | Total Attempts: 66

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Ult Part 1, Quiz 1 - Quiz

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Questions and Answers
  • 1. 
    Which kind of notice is sent out 30 days before the premium is due?
    • A. 

      Reminder notice

    • B. 

      Overdue notice

    • C. 

      Initial billing statement

  • 2. 
    Which kind of notice is sent out 6 days after the premium is due?
    • A. 

      Reminder notice

    • B. 

      Overdue notice

    • C. 

      Initial billing statement

  • 3. 
    Which kind of notice is sent out 30 days after the premium is due?
    • A. 

      Reminder notice

    • B. 

      Overdue notice

    • C. 

      Initial statement

  • 4. 
    An illustration is a tool that can be used to guarantee how long a universal life policy will last if no future premium payments are made. 
    • A. 

      True

    • B. 

      False

  • 5. 
    Which plans use the insufficiency calculation AV - Loan Balance - Current Surrender Charge? Hint: There is more than one correct answer -- select all that apply.  You can use KIWI to answer this question. 
    • A. 

      Sun Universal Protector

    • B. 

      LifeMaster 1

    • C. 

      Sun Universal Protector - LP

    • D. 

      PensionMaster 2

  • 6. 
    A policy's annual report projects how long the policy's current account value would allow the policy to "coast."
    • A. 

      True

    • B. 

      False

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