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

Free Life Policy Provisions Options and Riders Practice Questions

New Hampshire Life, Accident & Health exam — 52 practice questions.

Subtopics: Ownership rights, Absolute assignment, Per stirpes, Fixed-period option, Policy loan, Nonforfeiture purpose, Spendthrift clause, Common disaster, Term rider, Cost of living rider, Return of premium rider, Family rider, 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, Payor benefit rider, Child term rider

Read the Life Policy Provisions Options and Riders study guide

Sample questions & answers

1. The owner of a life insurance policy generally has the right to:

Name and change the beneficiary, assign the policy, and access cash value

The policyowner holds ownership rights such as naming beneficiaries, assigning the policy, and accessing any cash value.

2. When a policyowner transfers all ownership rights in a life policy permanently to another party, this is a(n):

Absolute assignment

An absolute assignment is a complete and permanent transfer of all ownership rights to another party.

3. A per stirpes beneficiary designation provides that, if a named beneficiary predeceases the insured, that beneficiary's share passes to:

That beneficiary's descendants

Under a per stirpes designation, a deceased beneficiary's share passes to that beneficiary's living descendants.

4. A life insurance settlement option that pays the death benefit in equal installments for a guaranteed number of years is the:

Fixed-period option

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

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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.