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____ policies have no cash value and provide insurance only.
A) Endowment insurance
B) Term life insurance
C) Permanent insurance
D) Annuity insurance
Answer: B
Diff: 1 Type: MC Page Ref: 272
Skill: Recall
Objective List: 12.1 Identify the important aspects of the insurance industry
____ policies have a cash value which the policyholder can claim by cancelling the
policy.
A) Endowment insurance
B) Term life insurance
C) Permanent insurance
D) Annuity insurance
Answer: C
Diff: 1 Type: MC Page Ref: 272
Skill: Recall
Objective List: 12.1 Identify the important aspects of the insurance industry
Permanent life insurance is also known as ____.
A) endowment insurance
B) term life insurance
C) dowry insurance
D) annuity insurance
Answer: A
Diff: 1 Type: MC Page Ref: 272
Skill: Recall
Objective List: 12.1 Identify the important aspects of the insurance industry
____ are arrangements whereby the customer pays an annual premium in exchange for a
future stream of annual payments beginning at a set age and continuing until death.
A) Endowments
B) Term life
C) Dowrys
D) Annuities
Answer: D
Diff: 1 Type: MC Page Ref: 272
Skill: Recall
Objective List: 12.1 Identify the important aspects of the insurance industry