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Free Types of Life Insurance Policies Practice Questions

Tennessee Life exam — 76 practice questions.

Subtopics: Term life, Whole life, Universal life, Variable life, Decreasing term, Endowment, Group life, Credit life, Survivorship, Adjustable life, Term basics, Level term, Renewable term, Convertible term, Limited-pay life, Single premium, UL death benefit options, UL corridor, Variable universal life, Indexed universal life, Joint life, Survivorship life, Increasing term, Annual renewable term, Juvenile insurance, Jumping juvenile, Return of premium term, Modified whole life, Index whole life, Continuous premium, Group eligible groups, Group characteristics, Noncontributory plan, Contributory plan, Survivorship cost, Interest-sensitive whole life, Conversion timing, Survivorship second-to-die life, Family income policy, Family maintenance policy, Family plan policy, Graded premium whole life, Graded death benefit policy, Guaranteed issue life, Simplified issue life, Multiple protection policy, Endowment policy, Pure endowment, Term to age 100, Conversion attained vs original age, Reentry term, Deposit term, Group term dependent coverage, Group permanent life, Franchise life insurance, Industrial life insurance, Pre-need funeral insurance, Final expense whole life, Standalone accidental death policy, Survivorship universal life, UL Option A death benefit, Target premium UL, Single-premium variable life, Minimum deposit policy, Modified coverage whole life, Combination whole life and term, Joint life vs survivorship, Convertible group term

Read the Types of Life Insurance Policies study guide

Sample questions & answers

1. Which life policy provides protection for a specified period and builds no cash value?

Term life

Term life provides temporary protection for a stated period and does not build cash value.

2. A policy with level premiums, a guaranteed death benefit, and guaranteed cash value that endows at a stated age is:

Whole (ordinary) life

Whole life features level premiums, guaranteed cash values, and a guaranteed death benefit that endows at a stated age.

3. Which policy features flexible premiums and an adjustable death benefit, with cash value tied to current interest credits?

Universal life

Universal life offers flexible premiums and an adjustable death benefit with interest-sensitive cash value.

4. A life policy whose cash value and death benefit can fluctuate based on separate-account investment performance is:

Variable life

Variable life ties cash value and death benefit to separate-account investments and requires securities registration to sell.

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Practice: Types of Life Insurance Policies

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 Pennsylvania Insurance Department and the exam administrator before relying on it.