Tn Life Insurance Exam Review (Questions) 100% Solved

Buy/Sell life contract partners would buy this if business is worth $100,000 a. $100,000 on each partner b. $100,000 on one partner c. $50,000 on one partner d. $50,000 on each partner {Ans: d. $50,000 on each partner}What would be the face amount on an extended term nonforfeiture option: a. less than the original policy b. more than the original policy c. same as the original policy d. face amount and cash value are both paid {Ans: c. same as the original policy}On the graded death benefit of a substandard life risk, the insured pays the standard premium for a $20,000 policy but would probably have this amount of coverage for the face amount: a. $15,000 b. $20,000 c. $25,000 d. 50% of the face amount {Ans: a. $15,000}A great prospect for an annuity in my family: a. my 22 year old daughter, Betsy who need income to complete her Ph.D in psychology b. my brother Bill who faces the prospects of college costs for his 5 children c. my 57 year old sister Mary who has fears of running out of money d. my 38 year old brother Jay whose wife works at home caring for