Question 1

What is not one of the five questions when choosing an insurance agent?

Accepted Answer

A) Is your agent available when needed? 
B) Does your agent advise you to have a financial plan? 
C) Does your agent keep up with changes in the insurance field? 
D) Is your agent a top 1% of their field insurance agent? 
E) Is your agent happy to answer questions? 
A) Is your agent available when needed? 
B) Does your agent advise you to have a financial plan? 
C) Does your agent keep up with changes in the insurance field? 
D) Is your agent a top 1% of their field insurance agent? 
E) Is your agent happy to answer questions?

Question 2

Most people are more likely to lose their income due to death than due to disability.

Accepted Answer

A) True 
 B)False

Question 3

Individual health insurance covers either one person or family.

Accepted Answer

A) True 
 B)False

Question 4

The lump-sum payment is the most widely used settlement option for life insurance policies.

Accepted Answer

A) True 
 B)False

Question 5

Canadians are amongst the most life-insured people in the world.

Accepted Answer

A) True 
 B)False

Question 6

At what age is term life insurance usually not renewable?

Accepted Answer

A) 50 
B) 60 to 65 
C) 85 to 90 
D) 70 to 75 
E) 55 to 60 
A) 50 
B) 60 to 65 
C) 85 to 90 
D) 70 to 75 
E) 55 to 60

Question 7

In 2015 roughly how much did Canadians pay for health and insurance products?

Accepted Answer

A) 20 billion 
B) 30 billion 
C) 40 billion 
D) 50 billion 
E) 90 billion 
A) 20 billion 
B) 30 billion 
C) 40 billion 
D) 50 billion 
E) 90 billion

Question 8

In planning your insurance program, you should

Accepted Answer

A) seek advice from a competent financial adviser. 
B) determine what insurance is required. 
C) consider social security and other group insurance. 
D) decide what type of insurance best meets your needs. 
E) seek advice from a competent financial adviser, determine what insurance is required, consider social security and other group insurance, and decide what type of insurance best meets your needs. 
A) seek advice from a competent financial adviser. 
B) determine what insurance is required. 
C) consider social security and other group insurance. 
D) decide what type of insurance best meets your needs. 
E) seek advice from a competent financial adviser, determine what insurance is required, consider social security and other group insurance, and decide what type of insurance best meets your needs.

Question 9

Canadian consumers are generally unaware that long-term care insurance even exists.

Accepted Answer

A) True 
 B)False

Question 10

Life insurance may be used as a way to provide liquidity at the time of death.

Accepted Answer

A) True 
 B)False

Question 11

Just about every worker is covered by disability income insurance.

Accepted Answer

A) True 
 B)False

Question 12

The "free-look" period allows you to cancel your life insurance without penalty anytime within 30 days.

Accepted Answer

A) True 
 B)False

Question 13

Group health insurance covers all of your health insurance needs.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following methods can be used to estimate your life insurance requirements?

Accepted Answer

A) income replacement method. 
B) family need method. 
C) average income replacement method. 
D) A and B are correct. 
E) A, B and C are correct 
A) income replacement method. 
B) family need method. 
C) average income replacement method. 
D) A and B are correct. 
E) A, B and C are correct

Question 15

A method of evaluating the cost of life insurance by taking into account the time value of money is called

Accepted Answer

A) double indemnity. 
B) guaranteed insurability. 
C) an interest-adjusted index. 
D) the consumer price index. 
E) a present value index. 
A) double indemnity. 
B) guaranteed insurability. 
C) an interest-adjusted index. 
D) the consumer price index. 
E) a present value index.

Question 16

Which type of insurance is probably the most neglected form of available insurance protection?

Accepted Answer

A) life 
B) liability 
C) disability 
D) car 
E) home and property 
A) life 
B) liability 
C) disability 
D) car 
E) home and property

Question 17

With a lump-sum payment, the insurance company pays the face amount of the policy in one installment to the beneficiary or to the estate of the insured.

Accepted Answer

A) True 
 B)False

Question 18

What percent of all applicants who apply for life insurance are found to be insurable?

Accepted Answer

A) 58 
B) 68 
C) 85 
D) 90 
E) 98 
A) 58 
B) 68 
C) 85 
D) 90 
E) 98

Question 19

Universal life is a type of permanent life insurance

Accepted Answer

A) True 
 B)False

Question 20

A nonparticipating policy has somewhat higher premiums than a participating policy.

Accepted Answer

A) True 
 B)False

What is not one of the five questions when choosing an insurance agent?

Most people are more likely to lose their income due to death than due to disability.

Individual health insurance covers either one person or family.

The lump-sum payment is the most widely used settlement option for life insurance policies.

Canadians are amongst the most life-insured people in the world.

At what age is term life insurance usually not renewable?

In 2015 roughly how much did Canadians pay for health and insurance products?

In planning your insurance program, you should

Canadian consumers are generally unaware that long-term care insurance even exists.

Life insurance may be used as a way to provide liquidity at the time of death.

Just about every worker is covered by disability income insurance.

The "free-look" period allows you to cancel your life insurance without penalty anytime within 30 days.

Group health insurance covers all of your health insurance needs.

Which of the following methods can be used to estimate your life insurance requirements?

A method of evaluating the cost of life insurance by taking into account the time value of money is called

Which type of insurance is probably the most neglected form of available insurance protection?

With a lump-sum payment, the insurance company pays the face amount of the policy in one installment to the beneficiary or to the estate of the insured.

What percent of all applicants who apply for life insurance are found to be insurable?

Universal life is a type of permanent life insurance

A nonparticipating policy has somewhat higher premiums than a participating policy.

Personal Financial Planning: An Introduction

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Banking Services of Financial Institutions

Introduction to Consumer Credit

Choosing a Source of Credit: The Costs of Credit Alternatives

The Finances of Housing

Home and Automobile Insurance

Fundamentals of Investing

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Retirement Planning

Estate Planning

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Exam 9: Life, Health, and Disability Insurance

What is not one of the five questions when choosing an insurance agent?

Most people are more likely to lose their income due to death than due to disability.

Individual health insurance covers either one person or family.

The lump-sum payment is the most widely used settlement option for life insurance policies.

Canadians are amongst the most life-insured people in the world.

At what age is term life insurance usually not renewable?

In 2015 roughly how much did Canadians pay for health and insurance products?

In planning your insurance program, you should

Canadian consumers are generally unaware that long-term care insurance even exists.

Life insurance may be used as a way to provide liquidity at the time of death.

Just about every worker is covered by disability income insurance.

The "free-look" period allows you to cancel your life insurance without penalty anytime within 30 days.

Group health insurance covers all of your health insurance needs.

Which of the following methods can be used to estimate your life insurance requirements?

A method of evaluating the cost of life insurance by taking into account the time value of money is called

Which type of insurance is probably the most neglected form of available insurance protection?

With a lump-sum payment, the insurance company pays the face amount of the policy in one installment to the beneficiary or to the estate of the insured.

What percent of all applicants who apply for life insurance are found to be insurable?

Universal life is a type of permanent life insurance

A nonparticipating policy has somewhat higher premiums than a participating policy.

Personal Financial Planning: An Introduction

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Banking Services of Financial Institutions

Introduction to Consumer Credit

Choosing a Source of Credit: The Costs of Credit Alternatives

The Finances of Housing

Home and Automobile Insurance

Fundamentals of Investing

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Retirement Planning

Estate Planning

Filters