MOCK Exam Arranged.odt

**LATS MOCK EXAMINATION** **Name:** \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ FINAL SCORE **Date:** \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ ** **Trainer :** \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ ** ** ***LIFE** **INSURANCE** **CONCEPT** **QUESTIONN...

**LATS MOCK EXAMINATION** **Name:** \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ FINAL SCORE **Date:** \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ ** **Trainer :** \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ ** ** ***LIFE** **INSURANCE** **CONCEPT** **QUESTIONNAIRES*** 1\. In insurance, risk means a. chances of you being paid by the companyc.)hazards on peoples lives b.)chances of the beneficiary being paidd.)none of the above 2\. Life insurance contributes directly to the welfare and progress of the country by a. accumulating capital for investment in commerce and industry b. partially relieving the community of the care of dependents c. encouraging provisions for the future d. all of the above 3\. Life insurance can provide money when income stops because of a. Disability c.) retirement b.) Death d.) all of the above 4\. The fundamental advantage of the use of insurance as a means of meeting economic losses is that through insurance these losses are a.)spread over a large number of people b.)deferred for a specified period of time c.)reduced for the group as a whole through the multiplier effect d.) met as they arise through savings accumulated on an assessment basis 5\. Life insurance is a.)a luxury afforded by the rich c.) a cooperative risk-sharing plan b.) only available to specific group d.) a speculative risk 6\. A life insurance company earns income from two main sources a.) premium income and investment income c.) dividend income and interest income b.) mortgage income and premium income d.) mortgage income and dividend income ***LIFE** **INSURANCE** **CONTRACT** **QUESTIONNAIRES*** 7\. For a contract to be legal and binding a. parties to the contract must be members of the bar b. parties to the contract must be legally competent c. parties to the contract must be above 21 d.) parties to the contract must possess blood relationship 8\. A father enters into a life insurance contract on behalf of his child. In this case, the father is the a.) insured c.) insurer b.) beneficiary d.) applicant-owner 9\. The insurance code specifies that a contract does not take effect unless a. the policy is delivered to an insured, his assignee or agent, or to a beneficiary b. payment of the first premium is made to the insurer or its authorized agent c. no change has taken place in the insurability of the life to be insured between the time of the application was completed and the time the policy was delivered d.) the insured has named in the policy no fewer than two beneficiaries 10\. The parties involved in life insurance contract are the a.) Insurance company and agentc.) agent and insured b.) Insurance company and insuredd.) insured and beneficiary 11\. Choose the incorrect statement The entire contract between the policy-owner and the insurance company include a. the application and the policy b. any verbal statement made by the agent to the applicant c. any document attached to the policy when issued d\. any subsequent written amendments to the contract ***BENEFECIARY** **QUESTIONNAIRES*** 12\. For life insurance coverage to be valid, insurable interest must exist a.)only at the inception of the policy b.)only at the time of the loan c.) throughout the entire lifetime of the policy d.) both at the time of the policy issue and at the time of the loan but not necessarily throughout the lifetime of the policy 13\. All of the following would be practicable to become beneficiaries except a. children by former marriagec.) someone who owes you money b. brothers and sisters d.) someone whom you owe money 14\. Under the law pertaining to life insurance a. only minor children can be named irrevocable beneficiaries b. only the wife can be named irrevocable beneficiary c. only the wife and the children can be named irrevocable beneficiaries d.) any person with insurable interest can be named irrevocable beneficiaries 15\. A person has insurable interest in the life of a. his child or grandchild b. any person upon whom he is wholly or in part dependent on, or from whom he is receiving support or education c. any person in whom he has pecuniary interest d.) all of the above 16\. Anybody can be designated a beneficiary except a. a creditorc.) those expressly prohibited by law to receive donations b. minorsd.) all of the above 17\. According to insurance law, a common-law spouse cannot be designated a beneficiary a. since there is no benefit of marriage in the relationship b. if his/her legal partner is still living and the previous marriage has not been legally dissolved c. since the common-law relationship is an immoral relationship d.) all of the above 18\. If a policy-owner whose wife is the irrevocable beneficiary wishes to cash in his policy, he must a. tell his wife what he is going to doc.) have the check issued in the name of his wife b. first take a loan on the policyd.) have the wife's consent 19\. If a policy did not contain the name of a beneficiary, the beneficiary will be a. the wifec.) the insured's brothers and sisters b.) the children d.) the insured estate PREMIUM QUESTIONAIRES 20\. A single premium policy means a policy a. requiring only a single premium each year b. under which only one premium payment is required c. only available to single individuals d.) on which no more than one premium can be paid in advance 21\. To be able to calculate the required premiums for a given policy, the agent must know the applicants' a. agec.) face amount desired b.) choice of plan d.) all of the above 22\. To calculate premiums for the other modes of premium payment the annual premium is a. divided by the desired number of premium payments b. divided by a conversion factor for the mode of payment desired c. multiplied by a conversion factor for the mode of payment desired d. multiplied by a constant conversion factor 23\. Which of the following factors would have the least effect on the premium charged for life insurance? a. agec.) income b. occupation d.) all of the above 24\. The number of years that persons at a given age will live on average as shown by the mortality table is called a. law of large numbersc.) life annuity b.)life income option d.) life expectancy 25\. Part of the premium paid by a policyholder is invested by the insurance company. In premium computation, this factor is known as a. interestc.) loading b. investmentd.) mortality 26\. The three elements that make up a life insurance premium are a. mortality experience, investment earnings and operating expenses b. cash values, dividends and paid up values c. cash values, loan values and paid up values d. past dividend experience, present dividend and projected interest 27\. The term loading means a. the difference between the gross and net premiums for the purpose of paying the insurance overhead expenses including commissions and taxes b. the amount which the company will lend to the policyholder with the policy as a security c. the amount payable in the event of the occurrence of a loss which renders him unfit for insurance d.) none of the above 28\. The common practice of most life insurers is that the life insurance goes into force a.) when the application is received by the branch office b.) when the policy is delivered to the applicant c.)in accordance with the legal stipulation of the Insurance Code d.)when the agent gives the binding receipt 29\. A fixed amount added to premium of a given policy regardless of policy size is known as a.) policy fee c.) policy values b.) policy reserved.) extra premium 30\. Policy reserves are future obligations on the part of a. the Insurance Commission c.) the beneficiary b. the Insurance Company d.) the policy-owner CLASSIFICATIONS OF LIFE INSURANCE PLANS ***Permanent** **Plans*** 31\. An insurance plan which offers both protection and saving, is called a.) Temporary Planc.) Participating Plan b.) Permanent Plan d.) Non-participating Plan 32\. When explaining dividends, the following information must be supplied a. that they are not guaranteedc.) the anticipated dividends b. that dividends paid up in the previous yearsd.) the relation to the cost of the policy 33\. Mr. Juan Valdez wants a policy which will entitle him to receive dividends yearly. What will you recommend to Mr. Valdez? a. Participating Plansc.) Term Insurance b.) Non-participating Plans d.) None of the above 34\. A participating plan entitles the policy-owner to receive a return of excess premiums. Such is termed as: a. endowmentsc.) cash values b.) dividends d.) cash surrender value 35\. The savings element of permanent plans allows build up of a. dividendsc.) maturity benefits b.) cash values d.) death benefits 36\. The main difference between a term plan and a permanent plan is a. permanent plans provide both protection and savings while term plans offer protection only b. permanent plans provide savings and dividends while term plans provide savings only c. permanent plans can be converted and renewed while term plans cannot d.) all of the above WHOLELIFE 37\. Which of the following can give the longest protection? a. 20 Year Endowmentc.) Ordinary Life b.) Endowment at 65 d.) 20-Year Term ENDOWMENT 38\. An individual at age 35 purchases a policy under which he will in 20 years receive the face amount of the policy himself, if he is still alive at that date. This policy is obviously a a. 20-Year Endowmentc.) 20 Year Term b.) 20-Pay Life d.) none of the above ***LIMITED** **PAYMENT*** 39\. In a 20-Pay Life policy a. protection is until age 100, payment of premium is for 20 years b. protection is until age 100, payment of premiums until age 100 c. protection is for 20 years, payment of premium is for 20 years d. protection is for 20 years, payment of premiums until age 100 ***TERM** **INSURANCE** **QUESTIONNAIRES*** 40\. In the event an employee leaves the company in which he is a member of its group insurance policy, his group coverage can be changed to an individual policy using the a. policy exchange facilityc.) change of plan provision b.) conversion privilege d.) policy change form 41\. The convertible feature of a term insurance policy provides that the policy may be a. changed to permanent insurance policy without evidence of insurability b. changed to another life c. cashed for a guaranteed sum d.) changed to a permanent insurance with evidence of insurability 42\. A man with moderate means can have maximum protection possible through a. 20 Year Endowmentc.) Term Insurance b.) Limited Pay Life d.) Whole Life Insurance 43\. Mrs. Rose Cortez owns a policy which does not provide for the build up of cash values and whose premiums remain level. Mrs. Cortez owns: a. Ordinary Lifec.) Decreasing Term b.) Limited Pay Life d.) Level Term 44\. Two attractive features of a Term insurance are: a. convertibility and cash values c.) protection and dividends b.) cash values and dividends d.) convertibility and renewability 45\. A term policy only offers a. cash valuesc.) savings b.) protection d.) dividends 46\. A term insurance which allows the policy-owners to convert it to a permanent insurance within a specified period without evidence of insurability contains \_\_\_\_\_\_\_\_\_\_\_\_ feature; a.) convertibility c.) dividend option b.) renewability d.) both a & b ***ANNUITY** **QUESTIONNAIRES*** 47\. An annuity plan a. offers life insurance protection c.)is the same as the endowment plan b. offers the waiver of premium benefit d.) is a purchase income 48\. The person who purchases the annuity plan is called the a.) assignor c.) insured b.) owner d.) annuitant ***RIDERS** **QUESTIONNAIRE:*** ***Term** **Rider*** 49\. A term rider is a. a term policy with a waiver of premiumc.) a renewable term policy b. another name for a convertible term policyd.) a term insurance added to a permanent plan 50\. A person wanting a greater coverage for the least amount of premium has an option of attaching what rider in his permanent life policy? a. a waiver of premium c.) guaranteed insurability rider b.) term insurance rider d.) accidental death rider WPD 51\. An optional rider which can be attached to a policy stopping further premium payments in the event of disability is called a. policyholder protection clausec.) waiver of premium b. accidental death and dismembermentd.) total disability monthly income 52\. For the waiver of premium to be effective a. disability must be total c.) both a & b b.) disability must be permanent d.) either a or b 53\. Disability benefits are not paid a. for self-inflicted injuriesc.) if all the policy dividends have been withdrawn b. if there is a loan against the policyd.) f disability resulted from sickness only 54\. If an insured is disabled and his life insurance policy is being continued in force through the waiver of premium, the dividends of the policy would a.) cease c.)continue as if the owner is paying the premium b.) continue at reduced rate d.) continue but they would be applied toward premium being waived ADB 55\. If a policy with the accidental death rider becomes paid up a. the accidental death rider ceases b. the face amount of the policy is reduced c. premiums on the basic policy stop but the rider premium continues d.) none of the above 56\. Within two years of buying a life insurance policy you are accidentally killed when your car hits a tree. In these circumstances, the insurance company will a. refund premiums because it is suicidec.) pay the face amount b. pay double the face amountd.) pay nothing PAYOR'S CLAUSE 57\. A policy with a minor as a proposed insured is called a. rated policyc.) regular policy b.) juvenile policy d.) substandard policy 58\. One supplementary benefit offered is a payor's benefit which is intended to a.) provide for return of premiums to an adult payor in the event that a minor insured dies b.) provide a waiver of premium benefit in the event of death or disability of the person paying the premiums c.) allow the insurance company to pay the policy's proceeds to the person who seems equitably entitled to the proceeds d.) assure that the adult payor will retain a vested interest in the policy when the insured reaches the age of majority GROUP INSURANCE 59\. With employer-employee groups, an employee does not fill out a personal application for insurance. Instead, he merely fills out a.) an enrolment card c.) a certificate of insurance coverage b.) a registration card d.) a salary deduction form HEALTH INSURANCE 60\. Benefits payable under health insurance policies cover a. accidental death and dismemberment benefitsc.) disability income benefits b.) expense reimbursement benefits d.) all of the above UNDERWRITING ***UNDERWRITING** **QUESTIONNAIRES*** 61\. Life insurance policies for which higher than standard premium rates are payable are said to be a.) rated policies c.) non-participating policies b.) contingent policies d.) conditional policies 62\. Anti-selection occurs a. when the agent thinks only of his own interest and not of his policyholders b. when you purchase bad stocks with expectation that they will improve c. when the insurance company accepts more than the share of poor risks d. when persons in poor health wish to buy insurance 63\. In an application, the information that must be disclosed include a. only his date and place of birth c.) every fact in his knowledge that is material to the insurance b. only his family history d.)only information he wants the agent to know 64\. Insurance Companies have various sources of information and the insured. These are a. application formc.) inspection report b.) medical information bureau d.) all of the above 65\. In insurance risks are classified as a. unacceptable and acceptable c.) standard, substandard and decline b. regular and irregular d.) complete and incomplete 66\. A risk is considered substandard based on any or all of the following criteria a.) death, occupation and moral character c.) income, educational attainment and occupation b.) occupation, moral character and family health history d.) death, income and educational background 67\. A hazardous occupation could be defined a.) an occupation the duties of which expose the insured to a degree of danger sustaining injury b.) an occupation in unhealthy working conditions exposing the insured to elements which can cause sickness c.) an occupation which exposes the insured to social hazards d.) all of the above 68\. Mr. Roel Reyes has been confined in a hospital 3 years prior to his application for life insurance. He therefore needs to give the following information a. name of attending doctor, diagnosis, date of confinementc.) name of doctor only b. the bill and medicines d.) date of confinement only 69\. Insurance companies have a source of confidential medical information on applicants for life insurance. This is the a. agents confidential report bureau c.) financial standing bureau b. inspection reports bureau d.) medical impairment bureau 70.An agent is filling up the Agent's Confidential Report. What information must he put in his report? a. information about insured's standing in the community b. information about insured's finances c. all information he knows which are material to the application for insurance d.) a & b only 71\. In the case of life insurance a sale is considered completed if the application is signed and payment of the first premium is made by the applicant. For the sale to be considered completed a. a medical examination has to be made first b. payment of the first premium has to be made by the applicant in full or in part, as specified. One of the acceptable methods of settlement by cash or check in part, with a note for the balance c. payment of the first premium has to be made in full by a note first d.) the first premium has to be paid for in full and in cash 72\. Why is it important that the application is the basis of the policy? a. because the completed application is the basis of the policy contract and the company may accept or reject an application based on the information given in the application b. for the agent to have available data of his prospect in connection with future sales c. to avoid the necessity of the insurer putting all relevant details in the contract d.) none of the above 73\. All of the following statements regarding life insurance application are correct except a. it must be signed by the applicant b. usually it will be made a part of the policy contract c. misstatements of material facts could void the policy during the contestable period d. statements made on the applications are warranties 74\. Since the purchase of life insurance is a voluntary choice, the individual must meet a. comprehensive inspection reportc.) minimum income requirement b. certain standards of health and occupationd.) all of the above 75\. Insurance companies have a source of confidential medical information on applicants for life insurance. This is the a.) agents confidential report bureau c.) financial standing bureau b.) inspection reports bureaud.) medical impairment bureau POLICY PROVISIONS 76\. Statement in the application forms are a. guaranteesc.) warranties b. representationd.) none of the above ***Automatic** **Premium** **Loan** **or** **APL:*** 77\. Which one of the following provisions in a permanent life insurance policy may not lapse for non-payment of premium a. Guaranteed Insurability c.) Settlement Options b.) Automatic Premium Loan d.) Reinstatement Provision 78\. An automatic premium loan differs from the other policy loans in that an automatic premium loan a. need not be repaid by the policy-owner b. must be repaid during the policy year in which it is granted c. goes into effect requiring no separate action from the policy-owner d.) involves higher interest payments because of the greater cost of administration ***Policy** **Loan:*** 79\. A policyholder may obtain money from the insurance company and still remain insured by a. surrendering the policy for its cash valuec.) taking a policy loan b. discontinuing payment of premium for some period d.) taking the extended insurance option 80\. If a loan is taken on a participating policy, dividends for that policy while there is a loan against the policy will be a.) suspendedc.) unaffected b.) paid at a reduced rate d.) increased 81\. Interest is charged on policy loans a.) for registered policies only b.) if the loan is outstanding for more than a year, a loan repaid within a year is interest free c.) to replace investment income the insurer cannot earn since a loan has been granted free d.) for participating policies only ***Misstatement** **of** **Age:*** 82\. When you bought an insurance policy on your wife's life you were 27 and she was 26, but you stated that you were 26 and she was 27. Five years later, your wife died. The insurance company will pay a.) the face amountc.) the sum of the premiums paid b.) the face amount adjusted for misstatement of aged.) slightly less than the face amount 83\. In case of misstatement of age a. the policy is canceled and a new one is issued for the correct age b. the insured can be changed c. the amount of insurance is adjusted to the amount which the premium paid at the correct age would have purchased d.) the policy remains in force and the company cannot contest it 84\. Mr. Dela Cruz stated in his application that he was 30 years of age and a policy was issued to him on that basis. When he died twenty years later, it was found out that he was in fact 34 years of age at the time of his application. In conformity with the Insurance Code, the company a. paid the amount of insurance payable to his beneficiary reduced in relation to his actual age at the time the contract was signed b. paid one-half of the face value of the policy c. need not pay the face value of the policy but refund all premiums paid d.) paid the full face value of the policy without any extra charges ***Grace** **Period** **:*** 85\. If the insured dies during the grace period of an unpaid life insurance policy, the amount payable to the beneficiary is usually the a. total premiums paid plus interest b. cash surrender value of the policy minus the unpaid premiums c. face amount of the policy minus the unpaid premiums d.) full face amount 86\. The typical grace period provision in a life insurance policy obliges the life insurance company to a.) establish a policy loan to cover any premium which the policy-owner fails to pay by the due date b.) keep the policy in force for the duration of any major disability suffered by the policy-owner c.) allow the policy-owner a three-month extension beyond the due date to make the late premium payment without penalty d.) none of the above 87\. If a policy-owner does not pay a premium on the due date, the policy will immediately a. lapse c.) go into automatic premium loan b. be converted to a paid up policy for a lesser amount d.) continue in full force for a period of grace ***Absolute** **Assignee:*** 88\. When a policy is assigned absolutely a. the assignee acquires all the rights and interests of the original policyholder b. the original policyholder still can exercise some of the rights c. the original beneficiary is not changed d.) none of the above. ***Suicide** **Clause:*** 89\. The suicide clause is in effect for a. the first 6 months c.) the first two years b.) the first year d.) the first 18 months 90\. If a policy-owner commits suicide within one year, what's the company's liability a. the company is not liable at all b. the company would be liable for the payment of the face value of the policy c. the company would be liable for the payment of the premiums paid by the insured only d.) none of the above 91\. Mr. Pedro Cruz became paralysed as a result of jumping out of the window in an attempt to commit suicide. Under the usual provisions of a disability income policy, he would be entitled to a. receive the total disability income benefit and the waiver of premiums b. receive partial disability benefits c. be granted the waiver of premiums d. receive neither disability income nor waiver of premiums NFO: 92\. The three non-forfeiture values in a permanent policy are a. cash dividends, bonus additions and extended term insurance b. cash surrender value, loan value, assignment c. waiver of premium, reinstatement and the policy loan d.) cash surrender value, paid value, extended term insurance 93\. In the event that a policy elects the paid up insurance option a. the premiums stop and the policy continues for the full face amount until age 65 b. the premium cease and protection continues with a reduced amount of coverage c. the insurance continues at a reduced amount and with a reduced premium d.) the policy will automatically terminate 94\. Name the provision in a permanent life insurance policy under which if the premiums are discontinued full insurance coverage will be maintained for a specified period a. extended term insurance c.) paid up additions b. paid up insurance d.) life income option 95\. Which of the following is not derived from the non-forfeiture values a. cash surrender value c.) dividends b. paid up insurance d.) extended term insurance 96\. Which of the non-forfeiture option gives the largest amount of protection a. fully paid insurancec.) extended term insurance b.) cash surrender value d.) all of the above given equal protection Reinstatement: 97\. Any policy which has lapsed can be reinstated subject to normal conditions of proof of insurability within a. three yearsc.) one year b.) six months d.) two years ***Settlement** **Option:*** 98\. What are the basic settlement options? a. cash surrender value, automatic premium loan b. fixed amount, fixed period, interest, fixed period and for life c. double indemnity, total disability, waiver of premium d.) policy loans, assignment, beneficiary designation 99\. Which of the following is a settlement option a. policy loanc.) extended term insurance option b. cash surrender valued.) interest on insurance proceeds 100\. When the proceeds of a life insurance policy are left with the company to earn interest a. income tax is levied on the proceeds b. income tax is levied on the interest earnings of the proceeds c. estate tax is levied on the proceeds d.) donor's tax is levied on the proceeds I.C. , AGENTS & LIFE INSURANCE COMPANY PD1460 ***AGENTS** **AND** **BROKERS** **ETHICAL** **PRACTICES:*** 101\. The insurance industry is under government regulations because a. it is required to account for money spent in company operations b. it pays high taxes c. it affects public interest d\) it is a charitable institution 102\. Insurance companies which are owned by the policy-owners are examples of a. stock companiesc.) family corporation b. mutual companiesd.) open-end companies 103\. Stock companies are owned by a. policyholders c.) creditors b.) stockholders d.) government 104\. Prior to granting a license, the IC requires proof of a. a clean record of employmentc.) a prospective agent's character and reputation b. a reasonable educational backgroundd.) all of the above 105\. The IC has the power to adjudicate insurance claims against insurance companies for any single claim not exceeding a. P 1,000,000.00 c.) P 100,000.00 b.) P 250,000.00 d.) P500,000.00 106\. The insurance industry is under government regulations because a.) it is required to account for money spent in company operationsc.) it affects public interest b.) it pays high taxesd.) it is a charitable institution 107\. The official who makes the necessary assumption and calculation in respect of the principal elements in life insurance premium in order to arrive at the premium rates to be charged is the a. life agent c.) Insurance Commissioner b.) senior statistician d.) Actuary 108\. Which one of the following statements is correct? a. an insurance agent's license will be renewed when the Commissioner is satisfied that the information in the application is accurate and all the requirements are met b. an insurance agent's license is valid only for one month c. an insurance agent's license is valid during the lifetime of the agent 1. 1. 1. d. an insurance agent's license will be renewed when the corresponding application and fee are received by the Insurance Commissioner 109\. Which one of the following statements is correct? a. advertising by life insurance agents is prohibited b. all information about a client or a prospective client has to be treated as confidential c. the agents should always recommend the amount and type of policy to a prospective client which would be a profitable for the company d.) when an agent advertises his services in the press, he is not allowed to state the name of his company 110\. Which one of the following statements is correct? a. an agent is allowed to share commissions when selling a whole life policy but not when selling a term policy b. an agent is allowed to share commissions with another licensed agent or agents but with no one else c. sharing the commission with any other person is called twisting d. an agent is not allowed to share commissions with any person 111.Which one of the following statements is correct? a. rebating of premiums can only be authorized by the head office of the insurer b. a life insurance is not allowed to identify on his letterhead the name of the insurer he represents c. life insurance agents are allowed to act for two insurers at the same time under the same license d. rebating of premiums by an insurance agent is prohibited. 112\. Persuading a policy-owner, directly or indirectly, to surrender or lapse a policy in one company and replacing it with a policy in another company is a. Rebating c.) knocking b. Twisting d.) discounting 113\. Rebating is a. dating the policy a month in advancec.) twisting b. giving false informationd.) premium discrimination against policyholders 114\. An insurance agent's license can be revoked for a. fraudulent practices c.) misrepresentation in the application for license b. violation of any provision of the Insurance Coded.) any or all of the above 115\. One example covered under the ethical practices and procedures is a. keep all policyholders information confidentialc.) never drink in front of client b. always recommend a willd.) always pick up the first premium with the application for insurance 116\. The term knocking means a. promising to pay to two annuitants a fixed annual income as long as both survive b. making derogatory remarks about competing underwriters or companies c. the number of years that person at a given age will live on the average as shown by mortality table d. none of the above 117\. The following are unethical practices in the solicitation and procurement of insurance except a. misleading estimates of the dividends or shares of surplus to be received thereon b. inducing a policyholder to lapse, forfeit or surrender a policy he holds for another company c. misrepresenting the terms of any policy issued by any insurance company or the benefits or advantages promised thereon. d. obtaining or attempting to obtain a license by fraud or misrepresentation 118\. Twisting is a. paying the premium on one policy by surrendering the dividends of another policy b. the replacement of a policy in one company with another policy in another company c. an attempt made by an insurance company to secure the services of an agent from another company d. an offense which does not apply to variable concepts 119\. The misstatement of facts by either of the parties of insurance to the other whether in writing or orally preliminary and in reference to making the insurance contract is a. Knocking c.) misrepresentation b. Overloadingd.) twisting 120\. Selling a person more insurance than what is warranted by his sources is called a. Overloading c.) rebating b. Twistingd.) knocking 121\. An agent is prohibited from doing all of the following except: a. alter an application without the applicants prior written approval b. convince a prospective client to cancel his policy in one insurance company in order to buy a policy in the insurance company represented by the agent c. refund some of his commission to his client d.) make complete comparisons of policies he sells and those offered by competing insurance companies. 122\. Inducing an insured to lapse or forfeit his insurance a. is not allowed by the conditions of the contract c.) is an offense in the great majority of cases b. is always to the advantage of the policyholderd.) is a matter left entirely to the discretion of the agent