Exam 8: Insuring Your Life

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INSTRUCTIONS: Choose the word or phrase in [ ] that will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. You can learn about the financial stability of an insurance company by checking [ the Securities and Exchange Commission (SEC)'s | A. M. Best's ] rating system.

(Short Answer)

4.8/5

(45)

Question 101

_____ can be both an advantage and a disadvantage of universal life insurance.

(Multiple Choice)

4.9/5

(26)

Question 102

Universal life insurance is:

(Multiple Choice)

4.8/5

(42)

Question 103

Families faced with the loss of a principal wage earner receive Social Security survivor's benefits:

(Multiple Choice)

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(38)

Question 104

INSTRUCTIONS: Choose the word or phrase in [ ] that will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. Any activity that reduces the probability that a loss will occur constitutes [ risk shifting | loss prevention ].

(Short Answer)

4.9/5

(36)

Question 105

The life-income-with-period-certain option guarantees a specified number of settlement payments that are passable to secondary beneficiaries.

(True/False)

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(37)

Question 106

Social Security survivor's benefits are intended to provide basic, minimum support to families faced with the loss of a principal wage earner.

(True/False)

4.8/5

(49)

Question 107

Showing 101 - 107 of 107

_____ can be both an advantage and a disadvantage of universal life insurance.

Universal life insurance is:

Families faced with the loss of a principal wage earner receive Social Security survivor's benefits:

The life-income-with-period-certain option guarantees a specified number of settlement payments that are passable to secondary beneficiaries.

Social Security survivor's benefits are intended to provide basic, minimum support to families faced with the loss of a principal wage earner.

Understanding the Financial Planning Process

Developing Your Financial Statements and Plans

Preparing Your Taxes

Managing Your Cash and Savings

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Health

Protecting Your Property

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds and Real Estate

Planning for Retirement

Preserving Your Estate

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