Rob, Joe, and Mike are brothers who have a $60,000 "first-to-die" Joint life policy covering all three of their lives. If Joe dies first, the policy proceeds
A. will not provide further insurance protection.
B. must be shared equally by Rob and Joe's wife.
C. will accumulate with interest until another brother dies and then be awarded to the surviving brother.
D. must be awarded to Joe's estate.
Making a statement that is false and maliciously critical of the financial condition of an insurer is known as
A. coercion.
B. defamation.
C. intimidation.
D. misrepresentation.
It is unlawful for a person to provide an advertisement which
A. uses a testimonial.
B. refers to the insurer's financial rating.
C. points out coverage advantages of a policy.
D. uses a policy title to inaccurately describe a coverage.
What does a limited payment whole life policy provide?
A. Protection to age 65.
B. Life time protection.
C. A lower premium.
D. Pure protection.
An exposure Is a condition or situation that presents the possibility of
A. hazard.
B. peril.
C. indemnity.
D. loss.
Which rider would allow additional insurance to be purchased at specified dates or events, without additional underwriting?
A. Guaranteed renewability.
B. Guaranteed insurability.
C. Cost of living.
D. Disability income.
An accelerated death benefit
A. pays an additional benefit if the policyholder dies as a result of an accident.
B. allows the policyowner to sell their policy to a third party.
C. pays a portion of the face amount when a policyowner Is determined to be terminally ill.
D. pays only in the event of an accident resulting in death.
All the following riders can Increase the death benefit amount EXCEPT
A. Cost of Living.
B. Waiver of Premium.
C. Accidental Death Rider.
D. Guaranteed Insurability.
An Insurer would consider which of the following In determining whether to accept a group life plan?
A. Grace period
B. Beneficiary
C. Average age
D. Dependents
Risks are generally NOT Insurable if
A. there are many individuals who may also experience a similar loss.
B. the policyholder has a policy from another insurer.
C. deductibles would be required.
D. the loss is expected.
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