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Quiz :
1..Life expectancy refers to: *
The average number of years a person can expect to live
All of the above
The number of years a person wish to live
How you expect to live
2Life insurance is justified if the insured has no earned income: *
True
False
3.Single premium whole life policy requires a single payment every year? *
True
False
4.The human life value approach considers the individual's contribution to society when valuing the benefit. *
True
False
5..Premature Death is: *
Death at a younger age
None of the above
Death of a teenager
Death of the family head
6..Term policy that is convertible as per the age of the client when the initial insurance contract was filed is known as? *
Limited Term Policy
Original-age method
Attained-age method
Initial Conversion policy
7.Low-premium products can have a clause allowing the insurer to increase the premium whenever necessary and there is no limit. *
True
False
8..Which of these usually have the highest financial impact of premature death? *
None of the above
Single People
Two-income earners with children
Sandwiched Family
9..One of the considerations of the need's approach is the need for retirement. *
True
False
10..A person who will earn $40,000 per year until retirement (in 30 years) will have a present value of how much if the discount rate is 12%? *
$ 312,998.54
$ 354,852.14
$ 321,205.44
$ 322,207.36
Answer & Explanation
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