Free Types of Life Insurance Policies Practice Questions
Alaska Life, Accident & Health exam — 56 practice questions.
Subtopics: Debtor group, Industrial life, Credit union group, Term life, Whole life, Universal life, Indexed life, Variable life, Variable universal life, Group life, Specialized policies, Annual renewable term, Return of premium term, Increasing term, Modified whole life, Limited-pay life, Joint life, Universal life Option A, Universal life target premium, Universal life interest crediting, Variable life prospectus, Variable products licensing, Interest-sensitive whole life, Endowment policy, Family income policy, Adjustable life, Credit life, Multiple protection, Fraternal and other
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Sample questions & answers
1. Under an Alaska creditor (debtor) group life policy, the amount of insurance on a debtor's life may not exceed:
The amount the debtor owes the creditor
Insurance on a debtor may at no time exceed the amount owed, and benefits are payable to the creditor to reduce or extinguish the debt.
2. Under Alaska's definition, industrial life insurance is written with a face amount of:
$1,000 or less, with premiums payable monthly or more often
Industrial life insurance has a face amount of $1,000 or less, the words industrial policy on its face, and premiums payable monthly or more often.
3. An Alaska credit union group life policy must cover at least how many members on the date of issue?
25
A credit union group policy must cover at least 25 members at issue, and contributory plans require at least 75 percent participation.
4. Term life insurance provides:
Death protection for a specified period that expires without value
Term insurance pays only if the insured dies within the stated period; if the insured survives, the coverage expires without value.
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Practice: Types of Life Insurance Policies
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
