Free Life Policy Provisions Options and Riders Practice Questions
Kansas Life, Accident & Health exam (series 12-KS-05) — 117 practice questions.
Subtopics: Automatic premium loan, Assignment, Ownership rights, Convertible term, Renewable term, Accelerated death benefit, Long-term care rider, Payor rider, Spendthrift clause, Aviation exclusion, Common disaster, Nonforfeiture, Free look, Grace period, Incontestability, Representations, Policy loans, Reinstatement, Nonforfeiture table, Lapse notice, Prohibited provisions, Policy loan interest, Death claim interest, Testamentary trustee, Creditor protection, Accelerated benefits, Standard provisions, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Dividend options, Riders, Incontestable clause, Suicide clause, Misstatement of age, Primary beneficiary, Irrevocable beneficiary, Minor beneficiary, Per capita, Estate as beneficiary, Dividend option cash, Dividend option reduce premium, Dividend option accumulate at interest, Dividend option one-year term, Joint and survivor settlement, Guaranteed insurability rider, Cost of living rider, Payor benefit rider, Return of premium rider, Child term rider, War exclusion, Aviation and avocation exclusions, Exclusions, Dividends, Premium modes, Entire contract, Change of owner
Read the Life Policy Provisions Options and Riders study guide
Sample questions & answers
1. The automatic premium loan provision prevents a policy from lapsing by:
Using available cash value to pay an overdue premium
The automatic premium loan uses available cash value to pay an overdue premium and keep the policy in force.
2. The assignment provision of a life insurance policy allows the owner to:
Transfer ownership rights to another party
The assignment provision lets the owner transfer some or all policy rights to another party.
3. In a life insurance policy, the right to name the beneficiary and exercise policy options belongs to the:
Policyowner
The policyowner holds the ownership rights, including naming the beneficiary and exercising options.
4. The conversion feature of a convertible term policy allows the owner to:
Exchange it for permanent coverage without proof of insurability
Convertibility lets the insured exchange term coverage for permanent coverage without proving insurability again.
All Life, Accident & Health topics
Practice: Life Policy Provisions Options and Riders
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.
