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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 on which no more than one premium can be paid in advance
- A policy under which only one premium payment is required (correct)
- A policy requiring only a single premium each year
- A policy only available to single individuals
Which term is used to describe a fixed amount added to the premium of a given policy regardless of policy size?
Which term is used to describe a fixed amount added to the premium of a given policy regardless of policy size?
- Extra premium (correct)
- Policy reserve
- Policy fee
- Policy values
To calculate the required premiums for a given policy, what information must the agent know about the applicant?
To calculate the required premiums for a given policy, what information must the agent know about the applicant?
- 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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