In addition to the policy owner, which of the following individuals have the authority to exercise rights and complete transactions related to a life insurance policy while it is in force? 1. Policy owner's spouse. 2. Life insured. 3. Life insured's spouse.

Question 17 options:

	1 and 2
	1 and 3
	2 and 3
	None

Question 18

With regard to comparing a stock insurance company and mutual insurance company, which of the following statements are true?

1. Mutual insurance companies are able to raise capital faster than stock companies

2. Stock companies are able to raise capital faster than mutual companies 3. Stock companies are more competitive globally 4. Mutual companies are more competitive globally

Question 18 options:

	1 and 2
	1 and 4
	2 and 3
	3 and 4

Question 19

Which of the following is not true regarding Term 100 policies:

Question 19 options:

	It is a form of permanent insurance
	There is no income tax reporting required
	The policy holder has the option to choose investments that reflect their individual risk levels
	The premium schedule will appear higher in the early years of the policy when compared with a five or ten year term (non-permanent) because the premium is level throughout the term to 100 policy payment period

Question 20

With regard to long term care insurance, which of the following statements is true?

Question 20 options:

	A lump sum benefit amount is paid if the life insured contracts a serious life-altering illness as she ages.
	The insurance carrier uses the activities of daily living as the measuring criteria to determine if the life insured qualifies for benefits.
	The life insured must be able to demonstrate that she simply can no longer care for herself in order to qualify for benefits.
	The life insured must incur a severe and prolonged disability, as judged by the insurance carrier, in order to qualify for benefits.

Question 21

Which of the following equations properly addresses Cash Surrender Value?

Question 21 options:

	Cash Account + Surrender Charges - Policy Loan = Cash Surrender Value
	Cash Account - Surrender Charges + Policy Loan = Cash Surrender Value
	Cash Account + Surrender Charges + Policy Loan = Cash Surrender Value
	Cash Account - Surrender Charges - Policy Loan = Cash Surrender Value