Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Critical illness benefits are paid

Accepted Answer

A)  immediately after the policyholder dies 
B)  to the policyholder before he or she dies 
C)  in equal installments over a period of 5 years 
D)  to the spouse of the policy holder 
E)  five days after the policyholder dies 
A)  immediately after the policyholder dies 
B)  to the policyholder before he or she dies 
C)  in equal installments over a period of 5 years 
D)  to the spouse of the policy holder 
E)  five days after the policyholder dies

Question 3

The principle of home insurance can be applied to the lives of persons.

Accepted Answer

A) True 
 B)False

Question 4

Which type of health insurance policy may not cover all of your health insurance needs or may deny benefits if you lose your job?

Accepted Answer

A)  group health 
B)  individual health 
C)  Basic health 
D)  Comprehensive medical 
E)  Disability income 
A)  group health 
B)  individual health 
C)  Basic health 
D)  Comprehensive medical 
E)  Disability income

Question 5

In Canada all basic medical procedures are provided for under provincial government health plans.

Accepted Answer

A) True 
 B)False

Question 6

Very few employers provide disability income protection for their employees through the group insurance plans.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Most insurers limit benefits from all sources to no more than ____________ percent of your take-home pay.

Accepted Answer

A)  30-40 
B)  40-50 
C)  70-80 
D)  60-70 
E)  50-60 
A)  30-40 
B)  40-50 
C)  70-80 
D)  60-70 
E)  50-60

Question 9

In choosing supplemental health and disability insurance, ideally, you should

Accepted Answer

A)  get a basic plan with a major supplementary plan. 
B)  get dental and vision plans. 
C)  buy dread disease and cancer insurance plans. 
D)  purchase nursing home insurance. 
E)  purchase accident insurance. 
A)  get a basic plan with a major supplementary plan. 
B)  get dental and vision plans. 
C)  buy dread disease and cancer insurance plans. 
D)  purchase nursing home insurance. 
E)  purchase accident insurance.

Question 10

Basically, the word disability has only one definition.

Accepted Answer

A) True 
 B)False

Question 11

A plan that insures a large number of persons under the terms of a single policy without a medical examination is called a(n) ____________ life insurance policy plan.

Accepted Answer

A)  individual 
B)  whole 
C)  large number 
D)  permanent 
E)  group 
A)  individual 
B)  whole 
C)  large number 
D)  permanent 
E)  group

Question 12

The waiting period in disability income insurance is called ____________ period.

Accepted Answer

A)  Exclusion 
B)  no benefit 
C)  Coverage 
D)  trade-off 
E)  Elimination 
A)  Exclusion 
B)  no benefit 
C)  Coverage 
D)  trade-off 
E)  Elimination

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Of all life insurance applicants, 98 percent are found to be insurable, though some may have to pay higher premiums because of an existing medical condition.

Accepted Answer

A) True 
 B)False

Question 16

What are the two types of life insurance? What are the major types and subtypes?

Accepted Answer

The two main types of life insurance are

Question 17

The price that a company charges for a life insurance policy is affected by

Accepted Answer

A)  the company's cost of doing business. 
B)  inflation. 
C)  the seasons. 
D)  provincial regulations. 
E)  federal regulations. 
A)  the company's cost of doing business. 
B)  inflation. 
C)  the seasons. 
D)  provincial regulations. 
E)  federal regulations.

Question 18

A deductible is the amount the policyholder must pay before the policy benefits begin.

Accepted Answer

A) True 
 B)False

Question 19

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 20

What is the importance of supplemental health insurance and disability insurance in personal financial planning?

Accepted Answer

Both protections should be a p

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

Critical illness benefits are paid

The principle of home insurance can be applied to the lives of persons.

Which type of health insurance policy may not cover all of your health insurance needs or may deny benefits if you lose your job?

In Canada all basic medical procedures are provided for under provincial government health plans.

Very few employers provide disability income protection for their employees through the group insurance plans.

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

Most insurers limit benefits from all sources to no more than ____________ percent of your take-home pay.

In choosing supplemental health and disability insurance, ideally, you should

Basically, the word disability has only one definition.

A plan that insures a large number of persons under the terms of a single policy without a medical examination is called a(n) ____________ life insurance policy plan.

The waiting period in disability income insurance is called ____________ period.

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

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

Of all life insurance applicants, 98 percent are found to be insurable, though some may have to pay higher premiums because of an existing medical condition.

What are the two types of life insurance? What are the major types and subtypes?

The price that a company charges for a life insurance policy is affected by

A deductible is the amount the policyholder must pay before the policy benefits begin.

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

What is the importance of supplemental health insurance and disability insurance in personal financial planning?

Personal Financial Planning: An Introduction

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

The Banking Services of Financial Institutions

Introduction to Consumer Credit

Choosing a Source 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

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

Critical illness benefits are paid

The principle of home insurance can be applied to the lives of persons.

Which type of health insurance policy may not cover all of your health insurance needs or may deny benefits if you lose your job?

In Canada all basic medical procedures are provided for under provincial government health plans.

Very few employers provide disability income protection for their employees through the group insurance plans.

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

Most insurers limit benefits from all sources to no more than ____________ percent of your take-home pay.

In choosing supplemental health and disability insurance, ideally, you should

Basically, the word disability has only one definition.

A plan that insures a large number of persons under the terms of a single policy without a medical examination is called a(n) ____________ life insurance policy plan.

The waiting period in disability income insurance is called ____________ period.

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

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

Of all life insurance applicants, 98 percent are found to be insurable, though some may have to pay higher premiums because of an existing medical condition.

What are the two types of life insurance? What are the major types and subtypes?

The price that a company charges for a life insurance policy is affected by

A deductible is the amount the policyholder must pay before the policy benefits begin.

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

What is the importance of supplemental health insurance and disability insurance in personal financial planning?

Personal Financial Planning: An Introduction

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

The Banking Services of Financial Institutions

Introduction to Consumer Credit

Choosing a Source 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