XCEL CHAPTER 6 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+
A life insurance claim which involves a per capita distribution of policy proceeds would be payable to the?
A. estate of the insured only
B. estate of the deceased beneficiaries only
C. named contingent beneficiaries onl...
A life insurance claim which involves a per capita distribution of policy proceeds
would be payable to the?
A. estate of the insured only
B. estate of the deceased beneficiaries only
C. named contingent beneficiaries only
D. named living primary beneficiaries
named living primary beneficiaries
Mortality is calculated by using a large risk pool of?
A. hobbies and time
B. people and time
C. family history and geographical area
D. insurance companies and agents
people and time
A policyowner is prohibited from making any changes to the policy without the
beneficiary's written consent under which beneficiary designation?
A. Contingent beneficiary
B. Tertiary beneficiary
, C. Revocable beneficiary
D. Irrevocable beneficiary
Irrevocable beneficiary
Over the course of a year, which premium payment mode is most expensive?
A. Monthly
B. Quarterly
C. Semi-Annually
D. Annually
Monthly
Naming a contingent beneficiary as "all surviving children" is described by which
term?
A. Contingent designation
B. Primary designation
C. Class designation
D. Tertiary designation
Class designation
How is the cost of a policy affected when a policyowner pays premiums more
frequently?
A. Not affected
B. Increases
C. Decreases
D. Depends on the type of coverage
Increases
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