Free Life Policy Provisions Options and Riders Practice Questions
Wyoming Life, Accident & Health exam — 111 practice questions.
Subtopics: Per capita, Common disaster, Facility of payment, War exclusion, Reduced paid-up, Extended term, Payor benefit, Spouse term rider, Grace period, Incontestability, Entire contract, Policy loans, Reinstatement, Payment of claims, Suicide exclusion, Permitted exclusions, Prohibited provisions, Assignment, Replacement, 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, 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, Aviation and avocation exclusions, Exclusions, Dividends, Accelerated benefits, Premium modes, Free look, Change of owner
Read the Life Policy Provisions Options and Riders study guide
Sample questions & answers
1. Under a per capita beneficiary designation, the surviving named beneficiaries:
Share the proceeds equally among themselves
With a per capita designation, the living named beneficiaries divide the proceeds equally among themselves.
2. A common disaster clause helps determine payment when:
The insured and primary beneficiary die in the same event and the order of death is unclear
The common disaster clause governs payment when the insured and primary beneficiary die in the same event and the order of death cannot be determined.
3. A facility-of-payment clause allows the insurer to pay a small benefit to:
A relative or person who appears equitably entitled when no beneficiary is named
The facility-of-payment clause lets the insurer pay a limited amount to a relative or person appearing entitled when no valid beneficiary exists.
4. A provision that limits or denies payment when the insured's death results from active military combat is a:
War exclusion
A war exclusion limits the insurer's liability for deaths resulting from war or active military combat as defined.
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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.
