41. In most life insurance applications, the largest amount of information requested is data which
*
a. Identifies the applicant
b. Describes the type of insurance applied for
c. Relates to the insurability of the applicant
d. Describes the desired benefits and mode of payment
42. The conservation of a life insurance policy is dependent on all the following except
*
a. The level of first year commission
b. Agent’s service oriented attitude
c. Pressure selling
d. The use of effective needs selling
43. All of the following are sources of information to an insurance company pertaining to the insurability of an applicant except
*
a. The applicant’s personal appearance
b. Medical examination report
c. Agent’s inspection report
d. Government tax records
44. Indicate which of the following is not a function of an application for life insurance policy.
*
a. To give details pertaining to non-forfeiture options
b. To furnish information on which the contract of life insurance may be written
c. To furnish initial information as to insurability
d. To convey to the company the desire of the applicant to obtain insurance
45. A father enters into a life insurance contract on behalf of his child. In this case, the father is the
*
a. insured
b. beneficiary
c. insurer
d. applicant-owner
46. Part of the premium paid by a policyholder is invested by the insurance company. In premium computation, this factor is known as
*
a. interest
b. investment
c. loading
d. mortality
47. The parties involved in life insurance contract are the
*
a. insurance company and agent
b. insurance company and insured
c. agent and insured
d. insured and beneficiary
48. Life insurance contributes directly to the welfare and progress of the country by
*
a. accumulating capital for investment in commerce and industry
b. partially relieving the community of the care of dependents
c. encouraging provisions for the future
d. all of the above
49. The number of years that persons at a given age will live on the average as shown by the mortality table is called
*
a. law of large numbers
b. life income option
c. life annuity
d. life expectancy
50. An insurance plan which offers both protection and savings is called
*
a. Temporary Plan
b. Permanent Plan
c. Participating Plan
d. Non-participating Plan