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

Free Life Policy Provisions Options and Riders Practice Questions

Washington Life, Accident & Health exam — 46 practice questions.

Subtopics: Automatic premium loan, Dividend options, Reduced paid-up, Extended term, Guaranteed insurability, Child term rider, Standard provisions, Assignment, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Policy loans, 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

Read the Life Policy Provisions Options and Riders study guide

Sample questions & answers

1. An automatic premium loan provision in a Washington whole life policy will:

Use available cash value to pay an overdue premium

The automatic premium loan uses available cash value to pay a premium that would otherwise go unpaid, preventing lapse.

2. A participating Washington life policyowner who elects paid-up additions uses dividends to:

Buy small amounts of additional permanent insurance

Paid-up additions use dividends to purchase additional paid-up insurance, increasing cash value and death benefit.

3. The reduced paid-up nonforfeiture option lets a surrendering owner keep:

A smaller paid-up policy using the cash value

Reduced paid-up uses the cash value as a single premium to buy a smaller, fully paid-up amount of the same type of insurance.

4. The extended term nonforfeiture option converts the cash value into:

Term insurance for the full face amount for a limited time

Extended term uses the cash value to continue the full face amount as term insurance for whatever period it will buy.

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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.