Tennessee Life - Final Exam Questions and Verified Answers, 100% Guarantee Pass (Latest 2025) Which statement is true in regards to a policy loan? - Correct Answers ✅Past-due interest on a policy loan is added to the total cost An individual who purchases a life annuity is given protection against - Correct Answers ✅the risk of living longer than expected A trustee-to-trustee transfer of rollover funds in a qualified plan allows a participant to avoid - Correct Answers ✅mandatory income tax withholding on the transfer amount J chooses a monthly premium payment mode on his whole life insurance policy. Which of these statements is correct? - Correct Answers ✅The gross premium is higher on a monthly payment mode as compared to being paid annually Which of these is a valid Tennessee regulation for referral fees? - Correct Answers ✅The commissioner may establish by rule a maximum amount for each referral an engineering firm that would suffer financially from the death of a project manager should purchase a - Correct Answers ✅key person life policy 1 / 3
Tennessee Life - Final Exam Questions and Verified Answers, 100% Guarantee Pass (Latest 2025) S buys a $10,000 Whole Life policy in 2003 and pays an annual premium of $100. S dies 5 years later in 2008 and the insurer pays the beneficiary $10,500. What kind of rider did S include on the policy? - Correct Answers ✅Return of premium rider In order for coverage on a non-medical insurance application to take effect the same day, the producer must collect a signed application and - Correct Answers ✅the initial premium A long-term care rider in a life insurance policy pays a daily benefit in the event of which of the following? - Correct Answers ✅inability of the insured to perform more than 2 activities of daily living (ADL's) J applies for an insurance policy. What BEST describes the particular terms of this policy? - Correct Answers ✅Policy summary All are true statements regarding the underwriting process, except - Correct Answers ✅AIDS and HIV virus exams can be conducted in a discriminatory fashion On a life insurance policy, who is qualified to change the beneficiary designation? - Correct Answers ✅policy owner 2 / 3
Tennessee Life - Final Exam Questions and Verified Answers, 100% Guarantee Pass (Latest 2025) N purchases an annuity by making payments in an amount no less than $100 quarterly. This describes which of the following annuities? - Correct Answers ✅Flexible installment deferred Who benefits in Investor-Originated Life Insurance (IOLI) when the insured dies? - Correct Answers ✅policy owner What group term life feature permits an individual to depart from the group and continue to be covered without providing evidence of insurability? - Correct Answers ✅conversion In Tennessee, an insurer that is incorporated in NJ and conducts business in TN is called a - Correct Answers ✅foreign insurer Which of these is NOT a fair marketing practice when an existing insurance policy is being replace? - Correct Answers ✅Reduce the cost by lowering the commission S has a Whole Life policy with a premium payment due soon.Which provision would keep the policy in force if S does not make the required payment and the policy has adequate cash value from which the premium payment can be made? - Correct Answers ✅Automatic Policy Loan
- / 3