1. Does everyone need life insurance?(Select the best answer below.)

		a. Yes, all people need life insurance.
		b. No, only those with children need life insurance.
		c. No, only those with financial dependents need life insurance.
		d. Yes, all legal adults need life insurance.

2.

What is term insurance? What factors determine the premium for term insurance? What is decreasing-term insurance?

Term insurance: (Select the best answer below.)

		a. serves as an investmentserves as an investment.
		b. provides insurance for the term of employment.
		c. provides protection over the specified periodprovides protection over the specified period.
		d. provides insurance for the term of the investment.

3. The factors that determine the premium for term insurance include:(Select the best answer below.)

		a. eduational leveleduational level.
		b. religious affiliationreligious affiliation.
		c. geographic locationgeographic location.
		d. length of time coveredlength of time covered.

4.

Why is the premium paid for whole life higher than the premium paid for term life? What alternative approach to purchasing life insurance might provide the same benefits as whole life?

The premium paid for a whole life policy is higher than the premium for term life because: (Select the best answer below.)

		a. regulators set the premium prices.
		b. he insured values for whole life policies are higher.
		c. term life insurance policies are not available to everyone.
		d. whole life insurance provides both insurance protection and savings.