1. Exam Prep
  2. Alaska
  3. Life, Accident & Health
  4. Life Policy Provisions Options and Riders

Free Life Policy Provisions Options and Riders Practice Questions

Alaska Life, Accident & Health exam — 52 practice questions.

Subtopics: Interest only option, Fixed period option, Fixed amount option, Life income option, Spendthrift clause, Common disaster, Automatic premium loan, Collateral assignment, Policyowner rights, Convertible term, Accelerated death benefit, Payor benefit, Standard provisions, Assignment, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Policy loans, Dividend options, Riders, Grace period, Reinstatement, Incontestable clause, Suicide clause, Misstatement of age, Primary beneficiary, Irrevocable beneficiary, Minor beneficiary, Per capita, Estate as beneficiary, Dividend option cash, Dividend option reduce premium, Dividend option accumulate at interest, Dividend option one-year term, Joint and survivor settlement, Guaranteed insurability rider, Cost of living rider, Payor benefit rider, Return of premium rider, Child term rider

Read the Life Policy Provisions Options and Riders study guide

Sample questions & answers

1. Under the interest-only settlement option the insurer:

Holds the proceeds and pays only the interest to the beneficiary

The interest-only option leaves the proceeds with the insurer and pays the beneficiary the interest earned.

2. The fixed-period settlement option pays the death proceeds:

In equal installments over a set number of years

The fixed-period option pays the proceeds in installments over a chosen number of years.

3. The fixed-amount settlement option pays:

A set installment amount until the proceeds and interest are exhausted

The fixed-amount option pays a chosen installment amount until the proceeds and interest run out.

4. The life income settlement option provides the beneficiary:

Income guaranteed for the beneficiary's lifetime

The life income option converts proceeds into income payable for the beneficiary's lifetime.

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Practice: Life Policy Provisions Options and Riders

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.