Skip to content

Log In
|
0 items - $0.00

Call (801) 518-1956 | Text (801) 518-5016

Home
Exam Prep
- Utah
- Idaho
- Arizona
- Nevada
Career Network
CE Courses
- Utah
- Idaho
- Arizona
Resources
- Utah Independent Agents (UIA)
FAQ
About Us
- Contact Us
- Our Story
Log In
0 items - $0.00

Classes of Life Insurance (ID-L)

Time limit: 0

Quiz Summary

0 of 22 Questions completed

Questions:

Information

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Quiz complete. Results are being recorded.

Results

Congratulations, you passed! Sorry, you did not pass. 0 of 22 questions answered correctly . A passing score is 4% or better.

Categories

Not categorized 0%

You can click the green button to go to the next lesson.

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22

Current
Review / Skip
Answered
Correct
Incorrect

Question 1 of 22

1. Question

Which of the following statements is FALSE?

Stock insurers sell nonparticipating policies.

Mutual insurers and fraternal benefit societies sell participating policies.

Mutual insurers and fraternal benefit societies are owned by the customers that purchase the insurance.

It is common for customers of a stock company to receive dividends from the insurer.

Correct

Incorrect
Question 2 of 22

2. Question

Which of the following types of life insurance pay(s) a guaranteed death benefit?

Only fixed

Only variable

Neither fixed nor variable

Both fixed and variable

Correct

Incorrect
Question 3 of 22

3. Question

How many people can be insured under an individual life insurance policy?

One and never more than one

Normally only one person, but sometimes the insured’s spouse and other family members can also be insured under the same policy

As many as the owner of the policy is willing to pay for, as long as all the insureds meet the insurance company's underwriting guidelines

Up to 100

Correct

Incorrect
Question 4 of 22

4. Question

Variable life insurance is regulated by all of the following EXCEPT which one?

National Association of Insurance Commissioners (NAIC)

State insurance department

U.S. Securities and Exchange Commission (SEC)

Financial Industry Regulatory Authority (FINRA)

Correct

Incorrect
Question 5 of 22

5. Question

For which type of life insurance is the cash value invested in stocks or bonds?

Fixed

Variable

Term

Industrial

Correct

Incorrect
Question 6 of 22

6. Question

In which type of life insurance is the death benefit and cash value accumulation guaranteed–and the insurance policy is NOT considered an investment?

Fixed

Variable

Term

Industrial

Correct

Incorrect
Question 7 of 22

7. Question

Which of the following is the life insurance that is sold today and includes all types and variations of life insurance except industrial?

Ordinary

Industrial

Post-industrial

Pre-industrial

Correct

Incorrect
Question 8 of 22

8. Question

Which of the following statements is FALSE about group life insurance?

It is purchased by the group’s sponsor, such as an employer or an association.

It is for the benefit of employees or association members.

Many people are insured under just one policy.

There is usually extensive individual underwriting.

Correct

Incorrect
Question 9 of 22

9. Question

Which type of life insurance policies were written with small death benefit amounts (usually about $1,000), and premiums were normally paid weekly?

Ordinary

Industrial

Participating

Fixed

Correct

Incorrect
Question 10 of 22

10. Question

For which type of life insurance is the cash value invested in stocks or bonds?

Fixed

Variable

Term

Industrial

Correct

Incorrect
Question 11 of 22

11. Question

Which of the following statements is true about term life insurance policies?

The two main types of term life insurance are whole life (WL) and universal life (UL).

This type of policy accumulates cash value.

Coverage is provided for a limited time (term) such as 10, 20, or 30 years.

This type of policy is normally purchased with the intent of keeping it permanently (until the insured dies).

Correct

Incorrect
Question 12 of 22

12. Question

In which type of life insurance is the death benefit and cash value accumulation guaranteed–and the insurance policy is NOT considered an investment?

Fixed

Variable

Term

Industrial

Correct

Incorrect
Question 13 of 22

13. Question

Which of the following statements is FALSE about permanent life insurance policies?

The two main types of permanent life insurance are whole life (WL) and universal life (UL).

This type of policy accumulates cash value.

This is temporary insurance; coverage is provided for a limited time (term) such as 10, 20, or 30 years.

This type of policy is normally purchased with the intent of keeping it permanently (until the insured dies).

Correct

Incorrect
Question 14 of 22

14. Question

Which of the following statements is FALSE about group life insurance?

It is purchased by the group’s sponsor, such as an employer or an association.

It is for the benefit of employees or association members.

Many people are insured under just one policy.

There is usually extensive individual underwriting.

Correct

Incorrect
Question 15 of 22

15. Question

Which of the following statements is FALSE?

Stock insurers sell nonparticipating policies.

Mutual insurers and fraternal benefit societies sell participating policies.

Mutual insurers and fraternal benefit societies are owned by the customers that purchase the insurance.

It is common for customers of a stock company to receive dividends from the insurer.

Correct

Incorrect
Question 16 of 22

16. Question

How many people can be insured under an individual life insurance policy?

One and never more than one

Normally only one person, but sometimes the insured’s spouse and other family members can also be insured under the same policy

As many as the owner of the policy is willing to pay for, as long as all the insureds meet the insurance company's underwriting guidelines

Up to 100

Correct

Incorrect
Question 17 of 22

17. Question

Which of the following types of life insurance pay(s) a guaranteed death benefit?

Only fixed

Only variable

Neither fixed nor variable

Both fixed and variable

Correct

Incorrect
Question 18 of 22

18. Question

Which of the following is the life insurance that is sold today and includes all types and variations of life insurance except industrial?

Ordinary

Industrial

Post-industrial

Pre-industrial

Correct

Incorrect
Question 19 of 22

19. Question

Variable life insurance is regulated by all of the following EXCEPT which one?

National Association of Insurance Commissioners (NAIC)

State insurance department

U.S. Securities and Exchange Commission (SEC)

Financial Industry Regulatory Authority (FINRA)

Correct

Incorrect
Question 20 of 22

20. Question

Which type of life insurance policies were written with small death benefit amounts (usually about $1,000), and premiums were normally paid weekly?

Ordinary

Industrial

Participating

Fixed

Correct

Incorrect
Question 21 of 22

21. Question

Which of the following statements is true about term life insurance policies?

The two main types of term life insurance are whole life (WL) and universal life (UL).

This type of policy accumulates cash value.

Coverage is provided for a limited time (term) such as 10, 20, or 30 years.

This type of policy is normally purchased with the intent of keeping it permanently (until the insured dies).

Correct

Incorrect
Question 22 of 22

22. Question

Which of the following statements is FALSE about permanent life insurance policies?

The two main types of permanent life insurance are whole life (WL) and universal life (UL).

This type of policy accumulates cash value.

This is temporary insurance; coverage is provided for a limited time (term) such as 10, 20, or 30 years.

This type of policy is normally purchased with the intent of keeping it permanently (until the insured dies).

Correct

Incorrect

CONTACT US

Business Hours

9:00am to 7:00pm, Mountain Time

Monday thru Friday

Office Phone

(801) 518-1956

Text Us (anytime)

(801) 518-5016

Email Us

marlene@mountainCE.com

rjmauer@mountainCE.com

Quiz Summary

Information

Results

Results

Categories

1. Question

2. Question

3. Question

4. Question

5. Question

6. Question

7. Question

8. Question

9. Question

10. Question

11. Question

12. Question

13. Question

14. Question

15. Question

16. Question

17. Question

18. Question

19. Question

20. Question

21. Question

22. Question