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A series of multiple choice questions and answers covering various aspects of insurance, including annuities, social security disability benefits, life insurance policies, health insurance, and more. it's a valuable resource for students studying insurance principles, providing a practical way to test their understanding of key concepts and terminology. The questions cover a range of topics, from policy types and features to legal and regulatory considerations. this makes it useful for self-assessment and exam preparation.
Typology: Exams
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2 / insurer's financial rating 20-Pay Life and Straight Life accumulate cash value at the same rate Answer 20-Pay Life accumulates cash value faster than Straight Life
4 / Medicare Supplement Medicaid Answer Medicare Supplement
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8 / Federal Fair Credit Act Violation Title 18 Fraud violation Anti-Money Laundering violation Unfair Trade Practice violation Answer Anti-Money Laundering violation
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11 / both an insurance and securities product an insurance product only a securities product only the insurance company assumes the investment risk Answer both an insurance and securities product
13 / policy itself? Policy Exclusion Incontestable Entire Contract Provision Assignment Answer Entire Contract Provision
14 / Answer Modified Premium Life
16 / Answer pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age
17 / is prohibited by state law is allowed only on policies dates after 1992 transfers rights from the company to the policyholder Answer transfers payments to someone other than the policyowner
10 / 40 Stop Loss provision Corridor provision Answer Carryover provision
10 / 40 Answer Collect initial premium along with a signed health statement