61. For the waiver of premium to be effective
*
a. disability must be total
b. disability must be permanent
c. both a & b
d. either a or b
62. Disability benefits are not paid
*
a. for self-inflicted injuries resulted from sickness only
b. if there is a loan against the policy
c. if all the policy dividends have been withdrawn
d. if disability if disability resulted from sickness only
63. Mr. Pedro Cruz became paralyzed as a result of jumping out of the window in an attempt to commit suicide. Under the usual provisions of a disability income policy, he would be entitled to
*
a. receive the total disability income benefit and the waiver of premiums
b. receive partial disability benefits
c. be granted the waiver of premium
d. receive neither disability income nor waiver of premiums
64. A person wanting a greater coverage for the least amount of premium has an option of attaching what rider in his permanent life policy?
*
a. a waiver of premium
b. term insurance rider
c. guaranteed insurability rider
d. accidental death rider
65. One supplementary benefit offered is a payor’s benefit which is intended to
*
a. provide for the return of premiums to an adult payor in the event that a minor insured dies
b. provide a waiver of premium benefit in the event of death or disability of the person paying the premium
c. allow the insurance company to pay the policy’s proceeds to the person who seems equitable entitled to the proceeds
d. assure that the adult payor will retain a vested in the policy when the insured reaches the age of majority
66. A policy with a minor as the proposed insured is called
*
a. rated policy
b. juvenile policy
c. regular policy
d. substandard policy
67. Life insurance policies for which higher than standard premium rates are payable are said to be
*
a. rated policies
b. contingent policies
c. non-participating policies
d. conditional policies
68. Insurance Companies have various sources of information about the insured. These are
*
a. application form
b. medical information bureau
c. inspection report
d. all of the above
69. In insurance, risk means
*
a. chances of you being declined by the company
b. hazard on people’s lives
c. chances of the beneficiary being paid
d. none of the above
70. In insurance risks are classified as
*
a. unacceptable and acceptable
b. regular and irregular
c. standard, substandard and declined
d. complete and incomplete