Insurance Policy Knowledge Quiz
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Questions and Answers

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?

  • 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?

  • 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?

    <p>Multiplied by a conversion factor for the mode of payment desired</p> Signup and view all the answers

    What benefits are covered under health insurance policies?

    <p>Accidental death and dismemberment benefits</p> Signup and view all the answers

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