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Questions and Answers
Which of the following best describes a single premium policy?
Which of the following best describes a single premium policy?
- A policy requiring only a single premium each year
- A policy under which only one premium payment is required (correct)
- A policy only available to single individuals
- A policy on which no more than one premium can be paid in advance
What is a fixed amount added to the premium of a given policy regardless of policy size known as?
What is a fixed amount added to the premium of a given policy regardless of policy size known as?
- Policy reserve
- Policy values
- Extra premium (correct)
- Policy fee
What information must the agent know in order to calculate the required premiums for a given policy?
What information must the agent know in order to calculate the required premiums for a given policy?
- Age
- Choice of plan
- Face amount desired
- All of the above (correct)
How is the annual premium divided to calculate premiums for other modes of premium payment?
How is the annual premium divided to calculate premiums for other modes of premium payment?
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What benefits are covered under health insurance policies?
What benefits are covered under health insurance policies?
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