Question 1

Another name for temporary life insurance is

Accepted Answer

A)  Whole life insurance. 
B)  Straight life insurance. 
C)  Ordinary life insurance. 
D)  Term life insurance. 
E)  Cash value life insurance. 
A)  Whole life insurance. 
B)  Straight life insurance. 
C)  Ordinary life insurance. 
D)  Term life insurance. 
E)  Cash value life insurance.

Question 2

Another name for a straight term policy is

Accepted Answer

A)  Renewable term. 
B)  Multiyear level term. 
C)  Decreasing term. 
D)  Limited payment. 
E)  Conversion term. 
A)  Renewable term. 
B)  Multiyear level term. 
C)  Decreasing term. 
D)  Limited payment. 
E)  Conversion term.

Question 3

If you change your mind about your insurance policy, you have 60 days to return it to receive a refund of your premium.

Accepted Answer

A) True 
 B)False

Question 4

If you shop for insurance on the internet, the website is secure if the URL begins with "https:" or if the lock icon is in the address bar.

Accepted Answer

A) True 
 B)False

Question 5

In 2014 life expectancy has risen, and a female who is 30 years old can expect to live an additional 55 years.

Accepted Answer

A) True 
 B)False

Question 6

When considering why to buy annuities, which of the following statements is correct?

Accepted Answer

A)  It is better to fund a fixed annuity before fully funding your IRA, Keogh, or 401(k). 
B)  The timing for payments of a fixed annuity are variable. 
C)  It is better to fund a variable annuity before fully funding your IRA, Keogh, or 401(k). 
D)  A fixed annuity is one where the investments put into the annuity are variable. 
E)  It is better to fully fun your IRA, Keogh, or 401(k) before buying an annuity. 
A)  It is better to fund a fixed annuity before fully funding your IRA, Keogh, or 401(k). 
B)  The timing for payments of a fixed annuity are variable. 
C)  It is better to fund a variable annuity before fully funding your IRA, Keogh, or 401(k). 
D)  A fixed annuity is one where the investments put into the annuity are variable. 
E)  It is better to fully fun your IRA, Keogh, or 401(k) before buying an annuity.

Question 7

Return-of-premium term pays out all premiums plus interest to a beneficiary.

Accepted Answer

A) True 
 B)False

Question 8

Another name for a straight term policy is renewable return-of-premium term policy.

Accepted Answer

A) True 
 B)False

Question 9

Premium payments are fixed with a variable life policy.

Accepted Answer

A) True 
 B)False

Question 10

Todd plans to purchase a life insurance policy from a stock life insurance company. What kind of policy is he planning to purchase?

Accepted Answer

A)  Dividend policy 
B)  Nonparticipating policy 
C)  Mutual policy 
D)  Participating policy 
E)  Stock policy 
A)  Dividend policy 
B)  Nonparticipating policy 
C)  Mutual policy 
D)  Participating policy 
E)  Stock policy

Question 11

If you have a renewable term policy,

Accepted Answer

A)  You may not continue it for another term once your term ends. 
B)  Your premium may increase if you continue it for another term because you will be older. 
C)  Your premium will not increase because your policy is renewable. 
D)  You can convert your policy to a permanent type at the end of the term. 
E)  All of the above are correct. 
A)  You may not continue it for another term once your term ends. 
B)  Your premium may increase if you continue it for another term because you will be older. 
C)  Your premium will not increase because your policy is renewable. 
D)  You can convert your policy to a permanent type at the end of the term. 
E)  All of the above are correct.

Another name for temporary life insurance is

Another name for a straight term policy is

If you change your mind about your insurance policy, you have 60 days to return it to receive a refund of your premium.

If you shop for insurance on the internet, the website is secure if the URL begins with "https:" or if the lock icon is in the address bar.

In 2014 life expectancy has risen, and a female who is 30 years old can expect to live an additional 55 years.

When considering why to buy annuities, which of the following statements is correct?

Return-of-premium term pays out all premiums plus interest to a beneficiary.

Another name for a straight term policy is renewable return-of-premium term policy.

Premium payments are fixed with a variable life policy.

Todd plans to purchase a life insurance policy from a stock life insurance company. What kind of policy is he planning to purchase?

If you have a renewable term policy,

Personal Financial Planning in Action

Money Management Skills

Taxes in Your Financial Plan

Financial Services: Saving Plans and Payment Accounts

Consumer Credit: Advantages, Disadvantages, Sources, and Costs

Consumer Purchasing Strategies and Wise Buying of Motor Vehicles

Selecting and Financing Housing

Home and Automobile Insurance

Health and Disability Insurance

Investing Fundamentals and Bonds

Investing in Stocks

Investing in Mutual Funds

Starting Early: Retirement and Estate Planning

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Exam 10: Financial Planning With Life Insurance

Another name for temporary life insurance is

Another name for a straight term policy is

If you change your mind about your insurance policy, you have 60 days to return it to receive a refund of your premium.

If you shop for insurance on the internet, the website is secure if the URL begins with "https:" or if the lock icon is in the address bar.

In 2014 life expectancy has risen, and a female who is 30 years old can expect to live an additional 55 years.

When considering why to buy annuities, which of the following statements is correct?

Return-of-premium term pays out all premiums plus interest to a beneficiary.

Another name for a straight term policy is renewable return-of-premium term policy.

Premium payments are fixed with a variable life policy.

Todd plans to purchase a life insurance policy from a stock life insurance company. What kind of policy is he planning to purchase?

If you have a renewable term policy,

Personal Financial Planning in Action

Money Management Skills

Taxes in Your Financial Plan

Financial Services: Saving Plans and Payment Accounts

Consumer Credit: Advantages, Disadvantages, Sources, and Costs

Consumer Purchasing Strategies and Wise Buying of Motor Vehicles

Selecting and Financing Housing

Home and Automobile Insurance

Health and Disability Insurance

Investing Fundamentals and Bonds

Investing in Stocks

Investing in Mutual Funds

Starting Early: Retirement and Estate Planning

Filters