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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

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