FREE AND STUDY GAMES ABOUT PE C3 EXAM QUESTIONS

PDF Download

FREE AND STUDY GAMES ABOUT PE C3 EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -25 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: Which of the following is true about the premium on the children's rider in a life insurance policy?

Answer:

It remains the same no matter how many children are added to the policy.Question 2: Which type of retirement account does not require the owner to start taking distributions at age of 73?

Answer:

Roth IRA.Question 3: Which of the following named beneficiaries would NOT receive the death benefit directly from the insurer in the event of the insured's death?

Answer:

A minor son of the insured.Question 4: What insurance concept is associated with the names Weiss and Fitch?

Answer:

Guides describing company financial integrity.

Question 5: Which of the following methods of calculating the amount of life insurance needed takes into account the insured's wages, years until retirement and inflation?

Answer:

Human Life Value Approach.Question 6: An insured receives an annual life insurance dividend check. What term best describes this arrangement?

Answer:

Cash option.Question 7: An Adjustable Life policyowner can change which of the following policy features?

Answer:

The coverage period.Question 8: According to the entire contract provision, what document must be made part of the insurance policy?

Answer:

Copy of the original application.Question 9: Which of the following is NOT a type of information that needs to be gathered in order to determine the value of someone's life when using the needs approach?

Answer:

Estimated longevity.

Question 10: The risk of loss may be classified as...

Answer:

Pure risk and speculative risk.Question 11: Which of the following statements about the reinstatement provision is true?

Answer:

It requires the policyowner to pay all overdue premiums with interest before the policy is reinstated.

Question 12: Which is not true about beneficiary designations?

Answer:

The beneficiary must have insurable interest in the insured.

Question 13: Units with the same or similar exposure to loss are referred to as...

Answer:

Homogeneous.Question 14: What is the benefit of choosing extended term as a nonforfeiture option?

Answer:

It has the highest amount of insurance protection.Question 15: Illustrations used in the sale of life insurance policies must contain all of the following EXCEPT...

Answer:

The insured's financial classification.Question 16: When a reduced paid-up nonforfeiture option is chosen, what happens to the face amount of the policy?

Answer:

It is reduced to the amount of what the cash value would buy as a single premium.Question 17: In terms of parties to a contract, which of the following does NOT describe a competent party?

Answer:

The person must have at least completed secondary education.

Question 18: Which of the following is true regarding a risk retention group?

Answer:

It is a liability insurance company owned by its members.

Question 19: Which statement is NOT true regarding a Straight Life policy?

Answer:

Its premium steadily decreases over time, in response to its growing cash value.Question 20: Which of the following statements is TRUE concerning the Accidental Death Rider?

Answer:

It will pay double or triple the face amount.

Question 21: Justyne, a widow, is retiring from her job and will soon receive Social Security benefits. Which income period is Justyne about to enter?

Answer:

Retirement period.Question 22: Which is the appropriate action by the insurer if a prospective insured submitted an incomplete application?

Answer:

Return the application to the applicant for completion.Question 23: Which of the following entities will most likely regulate an insurer's advertisement on a local TV station?

Answer:

The marketing department of the insurance company.Question 24: Which of the following features of the Indexed Whole Life policy is NOT fixed?

Answer:

Cash value growth.Question 25: Which of the following types of policies would allow a policyowner to choose a premium amount and payment schedule?

Answer:

Flexible premium.