All of the following statements abou

单选题 All of the following statements about the termination provisions of the PAP are true EXCEPT

A、 The insured can cancel the policy for any reason.

B、 The insurer can cancel a newly-written policy if it has been in force for fewer than 60 days.

C、 The insurer can cancel the policy after it has been in force for 60 days only if the insured has three or more traffic violations.

D、 The insurer can refuse to renew the policy at its annual anniversary date as long as proper notice is given prior to the end of the policy period.

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单选题 All of the following are defects which limit the usefulness of the human life value approach in determining the correct amount of life insurance to purchase EXCEPT

A、 The effects of inflation are ignored.

B、 Other sources of income for survivors are ignored.

C、 Earnings are assumed to remain constant.

D、 Earnings during the individual's productive lifetime are ignored.

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单选题 The human life value is defined as the

A、 present value of a deceased breadwinner's future gross income.

B、 future value of a deceased breadwinner's past earnings.

C、 present value of the family's share of a deceased breadwinner's future earnings.

D、 future value of the family's share of a deceased breadwinner's future earnings.

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单选题 Which of the following statements about the needs approach for estimating the amount of life insurance to purchase is (are) true?I.It involves an analysis of various family needs which must be met if a family breadwinner dies.II.Its use is appropriate only if a person currently has no life insurance protection.

A、 I only

B、 II only

C、 both I and II

D、 neither I nor II

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单选题 To calculate a human life value, it is necessary to deduct certain costs from a person's average annual earnings. These costs include

A、 funeral costs.

B、 income taxes.

C、 investment income.

D、 pension benefits after retirement.

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单选题 Which of the following is a cost/expense that an estate clearance fund is designed to pay?

A、 burial expenses

B、 retiring the mortgage

C、 education costs

D、 income for the widow(er) during the readjustment period

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单选题 What is the length of the readjustment period which is considered when the needs approach is used to determine the amount of life insurance to own?

A、 3 to 6 months

B、 1 to 2 years

C、 until the youngest child reaches age 18

D、 until the surviving spouse reaches age 65

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单选题 Which of the following types of families is likely to have the least need for a large amount of life insurance?

A、 a blended family

B、 a traditional family

C、 a single person family

D、 a sandwiched family

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单选题 Which of the following pieces of information is needed to calculate a person's human life value?

A、 the marital status of the person.

B、 the person's estimated annual Social Security benefits after retirement.

C、 the person's cost of self-maintenance.

D、 current outstanding debts, including mortgage debt.

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