Question 1

The premiums charged on life insurance will be higher if the individual is more likely to ________ in the near future.

Accepted Answer

The answer of The premiums charged on life insurance will...

Question 2

The services that insurance companies provide should not be a factor in selecting a life insurance company.

Accepted Answer

A) True 
 B)False

Question 3

Term life insurance is

Accepted Answer

A) often available in group policies through employers. 
B) less expensive when you renew it. 
C) pure insurance with no savings feature. 
D) Both A and C 
A) often available in group policies through employers. 
B) less expensive when you renew it. 
C) pure insurance with no savings feature. 
D) Both A and C

Question 4

A limited payment option on a whole life policy pays a smaller share of the policy face value to beneficiaries during the first five years of the policy.

Accepted Answer

A) True 
 B)False

Question 5

Whole life policies can be structured to provide a higher level of death benefits to beneficiaries in the early years of the policies or for the policies to be paid off in a certain time period,for example twenty years.

Accepted Answer

A) True 
 B)False

Question 6

A lump-sum insurance settlement would be most appropriate for

Accepted Answer

A) a surviving spouse with small children. 
B) parents living in a nursing home. 
C) a disciplined beneficiary. 
D) a former spouse. 
A) a surviving spouse with small children. 
B) parents living in a nursing home. 
C) a disciplined beneficiary. 
D) a former spouse.

Question 7

Life insurance affects everything except your

Accepted Answer

A) liquidity. 
B) net worth. 
C) life expectancy. 
D) peace of mind. 
A) liquidity. 
B) net worth. 
C) life expectancy. 
D) peace of mind.

Question 8

Which of the following insurance is intended to provide a limited choice of investments and an insurance component in the event of death?

Accepted Answer

A) Whole life 
B) Universal life 
C) Term insurance 
D) Mortgage life 
A) Whole life 
B) Universal life 
C) Term insurance 
D) Mortgage life

Question 9

The most accurate method of determining life insurance needs is

Accepted Answer

A) the income method. 
B) the budget method. 
C) subtracting your annual income from $1 million. 
D) having enough insurance to provide $50,000 per year for 20 years. 
A) the income method. 
B) the budget method. 
C) subtracting your annual income from $1 million. 
D) having enough insurance to provide $50,000 per year for 20 years.

Question 10

During the time the policy is in effect,term life insurance has a good savings and investment component.

Accepted Answer

A) True 
 B)False

The premiums charged on life insurance will be higher if the individual is more likely to ________ in the near future.

The services that insurance companies provide should not be a factor in selecting a life insurance company.

Term life insurance is

A limited payment option on a whole life policy pays a smaller share of the policy face value to beneficiaries during the first five years of the policy.

Whole life policies can be structured to provide a higher level of death benefits to beneficiaries in the early years of the policies or for the policies to be paid off in a certain time period,for example twenty years.

A lump-sum insurance settlement would be most appropriate for

Life insurance affects everything except your

Which of the following insurance is intended to provide a limited choice of investments and an insurance component in the event of death?

The most accurate method of determining life insurance needs is

During the time the policy is in effect,term life insurance has a good savings and investment component.

Overview of a Financial Plan

Planning With Personal Financial Statements

Applying Time Value Concepts

Using Tax Concepts for Planning

Banking and Interest Rates

Managing Your Money

Assessing and Securing Your Credit

Managing Your Credit

Personal Loans

Purchasing and Financing a Home

Auto and Homeowners Insurance

Health and Disability Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Asset Allocation

Retirement Planning

Estate Planning

Integrating the Components of a Financial Plan

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Exam 13: Life Insurance

The premiums charged on life insurance will be higher if the individual is more likely to ________ in the near future.

The services that insurance companies provide should not be a factor in selecting a life insurance company.

Term life insurance is

A limited payment option on a whole life policy pays a smaller share of the policy face value to beneficiaries during the first five years of the policy.

Whole life policies can be structured to provide a higher level of death benefits to beneficiaries in the early years of the policies or for the policies to be paid off in a certain time period,for example twenty years.

A lump-sum insurance settlement would be most appropriate for

Life insurance affects everything except your

Which of the following insurance is intended to provide a limited choice of investments and an insurance component in the event of death?

The most accurate method of determining life insurance needs is

During the time the policy is in effect,term life insurance has a good savings and investment component.

Overview of a Financial Plan

Planning With Personal Financial Statements

Applying Time Value Concepts

Using Tax Concepts for Planning

Banking and Interest Rates

Managing Your Money

Assessing and Securing Your Credit

Managing Your Credit

Personal Loans

Purchasing and Financing a Home

Auto and Homeowners Insurance

Health and Disability Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Asset Allocation

Retirement Planning

Estate Planning

Integrating the Components of a Financial Plan

Filters