10 Questions
Which of the following actions can an insured with an irrevocable beneficiary NOT do without beneficiary permission?
Alter the dividend option presently in effect
Which of the following is NOT a function of an application for a life insurance policy?
To give details pertaining to non-forfeiture options
Which of the following is true about both endowment and term life insurance policies?
Renewal and conversion privileges are available
In a life insurance policy, what is the purpose of an application?
To assess the applicant's insurability
Which of the following is a requirement for a policy to have cash value available to the policy owner during the term?
The policy must be an endowment policy
Which of the following actions can an insured with an irrevocable beneficiary NOT do without beneficiary permission?
Change the policy terms and conditions
What is the purpose of an application for a life insurance policy?
To furnish initial information as to insurability
Which of the following is NOT a function of an application for a life insurance policy?
To give details pertaining to non-forfeiture options
Which of the following is true about both endowment and term life insurance policies?
Renewal and conversion privileges are available
What is not a function of an application for a life insurance policy?
To give details pertaining to non-forfeiture options
Test your knowledge of life insurance policies and regulations with this Insurance Commission Insurance Agents Examination (Life) quiz. Explore questions about beneficiaries, non-forfeiture options, premium payments, and more. Challenge yourself to see if you can answer them correctly!
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