E Quiz: Exam 8 - Unit 8 (Chapter 19) Question 6 of 15 This quiz: 15 point(s) possible This question: 1 point(s) possible Submit quiz Use the given table. Parker's $250,000 whole-life insurance policy has a cash value of $11,268. Parker is 60 years old, female, smokes, and is converting to an extended term policy for Question list K the same face value. Use 10-year level term rates to estimate the number of years of extended term insurance she has. Click the icon to view the data table. O Question 1 O Question 2 Parker has years of extended term insurance. Do not round until the final answer. Then round to two decimal places as needed. - X O Question 3 Data table O Question 4 Estimated Annual Life Insurance Premium Rates per $1,000 of Face Value 10-Year Level Term 20-Year Level Term Age Male Female Agel Male Female PREF |NT T PREF |NT T PREF NT T PREF NT Question 5 20 0.87 1.27 2.28 0.75 1.10 1.88 20 1 1.09 1.50 2.86 0.91 1.31 2.56 25 0.87 1.27 2.28 |0.75 1.10 1.88 25 1.09 1.50 2.86 0.91 1.31 2.56 30 0.87 1.36 2.49 0.75 1.16 5 30 1.12 1.61 3.24 0.96 1.42 2.67 35 0.87 1.44 2.73 0.75 1.26 2.23 35 1.17 1.73 3.62 1.02 1.53 2.78 O Question 6 40 1.13 1.96 3.78 1.00 1.57 2.93 1.49 2.36 5.38 1.26 2.00 3.77 45 1.51 2.69 5.33 1.38 2.12 4.08 45 2.23 3.73 8.42 1.75 2.92 5.57 50 2.03 3.76 8.08 1.72 2.98 5.78 50 3.45 5.99 12.90 2.59 4.40 8.02 55 2.95 5.61 12.48 2.27 4.44 8.33 55 5.38 9.52 19.15 3.96 6.66 11.45 O Question 7 60 4.61 9.07 20.07 3.46 6.95 12.57 60 8.46 15.15 29.14 6.17 10.36 16.74 Whole Life Universal Life Age Male Female Age Male Female O Question 8 PREF NT T PREF NT T PREF NT T PREF NT 20 8.39 9.02 10.55 7.55 8.12 9.95 20 5.25 5.78 7.17 4.53 4.65 5.97 25 9.51 10.22 12.70 8.65 9.30 11.59 25 6.21 6.69 8.61 5.37 5.61 7.17 30 10.86 11.68 14.77 9.82 10.56 13.48 30 7.41 8.13 10.29 6.45 6.81 8.73 O Question 9 5 12.37 13.30 16.59 10.97 11.80 14.85 35 9.09 9.93 12.69 7.89 8.25 10.77 40 14.42 15.50 19.31 12.54 13.48 16.69 40 11.25 12.33 15.69 9.69 10.17 13.41 5 17.65 18.98 24.03 15.14 16.28 20.43 45 14.01 15.45 19.65 12.09 12.69 16.77 0 22.45 24.14 30.65 19.09 20.53 25.39 50 17.61 19.17 24.45 15.09 16.05 21.33 O Question 10 55 28.67 30.82 39.00 24.11 25.92 30.97 55 22.41 24.57 7 31.41 18.93 20.25 26.97 60 36.06 38.77 49.39 29.75 31.99 37.25 60 28.77 34.53 43.65 23.97 28.29 37.53 PREF = preferred, NT = non-tobacco, and T = tobacco usage NextQuestion 2 of 15 This quiz: 15 point(s) possible = Quiz: Exam 8 - Unit 8 (Chapter 19) This question: 1 point(s) possible Submit quiz Find the annual premium for a universal-life insurance policy with a face value of $15,000 for a 55-year old female using a non-tobacco rate. Round to the nearest cent. Question list K Click the icon to view the tables of premium rates. O Question 1 X Tables of Premium Rates O A. $283.95 O Question 2 O B. $368.55 O C. $388.80 Estimated Annual Life Insurance Premium Rates per $1,000 of Face Value 10-Year Level Term 20-Year Level Term O Question 3 O D. $303.75 Age Male Female Age Male Female PREF NT PREF NT T PREF NT T PREF NT T 20 0.87 1.27 2.28 0.75 1.10 1.88 20 1.09 1.50 2.86 0.91 1.31 2.56 25 0.87 1.27 2.28 0.75 1.10 1.88 25 1.09 1.50 2.86 0.91 1.31 2.56 30 0.87 1.36 2.49 0.75 1.16 2.06 30 1.12 1.61 3.24 0.96 1.42 2.67 Question 4 35 0.87 1.44 2.73 0.75 1.26 2.23 35 1.17 1.73 3.62 1.02 1.53 2.78 40 1.13 1.96 3.78 1.00 1.57 2.93 40 1.49 2.36 5.38 1.26 2.00 3.77 Premium Rates for Periods Less 45 1.51 2.69 5.33 1.38 2.12 4.08 45 2.23 3.73 8.42 1.75 2.92 5.57 3.76 8.08 1.72 2.98 4.40 8.02 than One Year 50 2.03 5.78 50 3.45 5.99 12.90 2.59 55 2.95 5.61 12.48 2.27 4.44 8.33 55 5.38 9.52 19.15 3.96 6.66 11.45 Percent of Question 5 60 4.61 9.07 20.07 3.46 6.95 12.57 60 8.46 15.15 29.14 6.17 10.36 16.74 Annual Whole Life Universal Life Period Premium Male Female Male 51.00 Age Age Female Semiannually PREF NT T PREF NT T PREF NT PREF NT T Quarterly 26.00 O Question 6 20 8.39 9.02 10.55 7.55 8.12 9.95 20 5.25 5.78 7.17 4.53 4.65 5.97 Monthly 8.75 9.51 10.22 12.70 8.65 9.30 11.59 25 6.21 6.69 8.61 5.37 5.61 7.17 30 10.86 11.68 14.77 9.82 10.56 13.48 30 7.41 8.13 10.29 6.45 6.81 8.73 35 12.37 13.30 16.59 10.97 11.80 14.85 35 9.09 9.93 12.69 7.89 8.25 10.77 40 14.42 15.50 19.31 12.54 13.48 16.69 40 11.25 12.33 15.69 9.69 10.17 13.41 O Question 7 45 17.65 18.98 24.03 15.14 16.28 20.43 45 14.01 15.45 19.65 12.09 12.69 16.77 50 22.45 24.14 30.65 19.09 20.53 25.39 50 17.61 19.17 24.45 15.09 16.05 21.33 28.67 30.82 39.00 24.11 25.92 30.97 55 22.41 24.57 31.41 18.93 20.25 26.97 60 36.06 38.77 49.39 29.75 31.99 37.25 60 28.77 34.53 43.65 23.97 28.29 37.53 PREF = preferred; NT = I = non-tobacco; T = tobacco usage O Question 8This quiz: 15 point(s) possible = Quiz: Exam 8 - Unit 8 (Chapter 19) Question 8 of 15 This question: 1 point(s) possible Submit quiz Tim Navholtz needs a $20,000 renters insurance policy and has selected the $1,000,000 liability with $1,000 deductible. The insurance company has determined his credit is excellent Question list K and has given him the "good" credit rate. If he adds an endorsement of $0.85/$100 to ensure $10,900 of jewelry, $20/year for the options of identity theft/protection and $75/year for sewer/sump pump backup protection for his basement, find his annual premium using the given table. Click the icon to see a hypothetical table of Estimated Annual Renters Insurance Premium Rates. Question 1 Question 2 The annual premium is $ . (Simplify your answer. Type an integer or a decimal.) O Question 3 - X Data table O Question 4 Estimated Annual Renters Insurance Premium Rates $20,000 Policy Limit $40,000 Policy Limit Liability $500 Deductible $1000 Deductible $500 Deductible $1000 Deductible O Question 5 Good OCC Bad Good OCC Bad Good OCC Bad Good OCC Bad $300,000 141 226 253 126 203 227 195 312 349 174 280 313 $500,000 149 239 268 134 215 241 206 330 370 185 297 333 $1,000,000 169 270 303 154 246 276 233 373 418 213 339 381 O Question 6 O Question 7 Print Done O Question 8=Quiz: Exam 8 - Unit 8 (Chapter 19) Question 3 of 15 This quiz: 15 point(s) possible This question: 1 point(s) possible Submit quiz Question list K What are the semiannual payments on a $200,000 whole-life insurance policy for a 30-year-old female with a preferred rate? Use table 1 and table 2. Click the icon to view Table 1, Estimated annual life insurance premium rates per $1,000 of face value. O Question 1 Click the icon to view Table 2, Premium rates for periods less than one year. O Question 2 The semiannual payment is $ . (Round to two decimal places as needed.) - X - X Data table Table 2 Data table Table 1 Table 2-Premium Rates for Periods Less Estimated Annual Life Insurance Premium Rates per $1,000 of Face Value Period Percent of Annual 10-Year Level Term 20-Year Level Term Period Premium Age Male Female Agel Male Female Semiannually 51.00 PREF |NT PREF |NT PREF Quarterl 26.00 PREF |NT NT 8.75 20 0.87 1.27 2.28 0.75 1.10 1.88 20 1.09 1.50 2.86 0.91 1.31 2.56 Monthly 25 0.87 7 2.28 1.10 1.88 25 1.09 1.50 2.86 0.91 1.31 2.56 30 0.87 1.36 2.49 0.75 1.16 2.06 30 1.12 1.61 3.24 0.96 1.42 2.67 35 0.87 1.44 2.73 0.75 1.26 2.23 35 1.17 1.73 3.62 1.02 1.53 2.78 40 1.13 1.96 3.78 1.00 1.57 2.93 40 1.49 2.36 5.38 1.26 2.00 3.77 5.57 Print 45 1.51 2.69 5.33 1.38 2.12 4.08 45 2.23 3.73 8.42 1.75 2.92 Done 50 2.03 3.76 8.08 1.72 2.98 5.78 50 3.45 5.99 12.90 2.59 4.40 8.02 55 2.95 5.61 12.48 2.27 4.44 8.33 55 5.38 9.52 19.15 3.96 6.66 11.45 60 4.61 9.07 20.07 3.46 6.95 12.57 60 8.46 15.15 29.14 6.17 10.36 16.74 Whole Life Universal Life Age Male Female Age Male Female PREF NT T PREF NT T PREF NT T PREF NT 20 8.39 9.02 10.55 7.55 9.95 20 5.25 5.78 7.17 4.53 4.65 5.97 25 9.51 10.22 12.70 8.65 9.30 11.59 25 6.21 6.69 8.61 5.37 7.17 30 10.86 11.68 14.77 9.82 10.56 13.48 30 7.41 8.13 10.29 6.45 6.81 8.73 35 12.37 13.30 16.59 10.97 11.80 14.85 35 9.09 9.93 12.69 7 7.89 8.25 10.77 40 14.42 15.50 19.31 12.54 13.48 16.69 40 11.25 12.33 15.69 9.69 10.17 13.41 45 17.65 18.98 24.03 15.14 16.28 20.43 45 14.01 15.45 19.65 12.09 12.69 16.77 50 22.45 24.14 30.65 19.09 20.53 25.39 50 17.61 19.17 24.45 15.09 16.05 21.33 55 28.67 30.82 39.00 24.11 25.92 30.97 55 22.41 24.57 31.41 18.93 20.25 26.97 60 36.06 38.77 49.39 29.75 31.99 37.25 60 28.77 34.53 43.65 23.97 28.29 37.53 preferred, NT = non-tobacco, and T = tobacco usage. Next CQuestion 7 of 15 This quiz: 15 point(s) possible E Quiz: Exam 8 - Unit 8 (Chapter 19) This question: 1 point(s) possible Submit quiz Cindy needs a $20,000 renters insurance policy and has selected the $1,000,000 liability with $500 deductible. The insurance company has determined her credit is excellent and has Question list K given her the "good" credit rate. If she adds an endorsement to insure $2000 worth of jewelry and the options of identity theft/fraud protection and sewer/sump pump backup protection for her basement, find her annual premium. Click the icon to view the rate tables. O Question 1 O Question 2 - X O A. $206.00 Rate Tables O B. $281.00 O Question 3 O C. $266.00 O D. $382.00 Estimated Annual Renters Insurance Premium Rates $20,000 Policy Limit $40,000 Policy Limit O Question 4 Liability $500 Deductible | $1,000 Deductible | $500 Deductible | $1,000 Deductible GOOD OCC BAD GOOD OCC BAD GOOD OCC BAD GOOD OCC BAD $300,000 141 226 253 126 3 227 195 312 174 280 313 $500,000 149 239 268 134 215 241 206 330 370 185 297 333 O Question 5 $1.000.000 169 270 303 154 246 276 233 373 418 213 339 381 GOOD = good credit; OCC = occasional payments past 30 days; BAD = judgments, collection, bankruptcy Rates for Optional Coverage and Extended Coverage Endorsements O Question 6 Optional Coverage Extended Endorsement Coverage Identity theft/fraud protection $20/year Jewelry, watches, and furs $0.85/$ 100/year Sewer/sump pump backup $75/year Camera equipment $1.35/$ 100/year O Question 7 protection (for property Computer equipment $0.95/$ 100/year located in a basement) Fine art and collectibles $1.10/$100/year Firearms and accessories $1.45/$100/year O Question 8 Portable tools $3.25/$100/year O Question 9 Print Done O Question 10E Quiz: Exam 8 - Unit 8 (Chapter 19) Question 5 of 15 This quiz: 15 point(s) possible This question: 1 point(s) possible Submit quiz Question list K Use the given table. Cindy started a whole-life insurance policy for $255,000 when she was 23 years old. At age 50, the policy has a cash value of $12,404 and Cindy converts the policy to extended term insurance for the same face value. Use 20-year level term rates to estimate the number of years of extended term insurance she has. Use a non-tobacco rate. Click the icon to view the data table. O Question 1 O Question 2 Cindy has years of extended term insurance. (Do not round until the final answer. Then round to two decimal places as needed.) O Question 3 - X Data table O Question 4 Estimated Annual Life Insurance Premium Rates per $1,000 of Face Value 10-Year Level Term 20-Year Level Term Age Male Female Age Male Female PREF |NT PREF | NT PREF NT PREF NT Question 5 20 0.87 1.27 2.28 0.75 1.10 1.88 20 1.09 1.50 2.86 0.91 1.31 2.56 25 0.87 1.27 2.28 0.75 1.10 1.88 25 1.09 1.50 0.91 1.31 2.56 30 0.87 1.36 2.49 0.75 5 2.06 30 1.12 1.61 3.24 0.96 1.42 2.67 35 0.87 1.44 2.73 0.75 1.26 2.23 35 1.17 3.62 1.02 1.53 2.78 O Question 6 1.73 40 1.13 1.96 3.78 1.00 1.57 2.93 40 1.49 2.36 5.38 1.26 2.00 3.77 45 1.51 2.69 5.33 1.38 2.12 4.08 45 2.23 3.73 3 8.42 1.75 2.92 5.57 50 2.03 3.76 8.08 1.72 2.98 5.78 50 3.45 5.99 12.90 2.59 4.40 8.02 O Question 7 55 2.95 5.61 12.48 2.27 4.44 8.33 55 5.38 9.52 19.15 3.96 6.66 11.45 0 4.61 9.07 20.07 3.46 6.95 12.57 60 8.46 15.15 29.14 6.17 10.36 16.74 Whole Life Universal Life Age Male Female Age Male Female O Question 8 PREF NT PREF NT T PREF NT PREF NT 20 8.39 9.02 10.55 7.55 8.12 9.95 20 5.25 5.78 7.17 4.53 4.65 5.97 5 9.51 10.22 12.70 8.65 9.30 11.59 25 6.21 6.69 8.61 5.37 5.61 7.17 10.86 11.68 14.77 9.82 10.56 13.48 30 7.41 6.81 O Question 9 8.13 6.45 8.73 35 12.37 13.30 16.59 10.97 11.80 14.85 35 9.09 9.93 12.69 7.89 8.25 10.77 40 14.42 15.50 19.31 12.54 13.48 16.69 40 11.25 12.33 15.69 9.69 10.17 13.41 45 17.65 18.98 24.03 15.14 16.28 20.43 45 14.01 15.45 19.65 12.09 12.69 16.77 O Question 10 50 22.45 24.14 30.65 19.09 20.53 25.39 50 17.61 19.17 24.45 15.09 16.05 21.33 55 28.67 30.82 39.00 24.11 25.92 30.97 55 22.41 24.57 31.41 18.93 20.25 26.97 60 36.06 38.77 49.39 29.75 31.99 37.25 60 28.77 34.53 43.65 23.97 28.29 37.53 PREF = preferred, NT = non-tobacco, and T = tobacco usage. NextThis quiz: 15 point(s) possible Quiz: Exam 8 - Unit 8 (Chapter 19) Question 4 of 15 This question: 1 point(s) possible Submit quiz Compare the premiums for a 10-year level term policy for $60,000 for a 45-year old male to the same policy for a 45-year old female. Use a non-tobacco rate. Round to the nearest cent. Question list K Click the icon to view the tables of premium rates. O Question 1 O A. The male pays a premium that is $34.20 higher. O Question 2 O B. The male pays a premium that is $48.60 higher. O C. The female pays a premium that is $7.80 higher. O D. The female pays a premium that is $34.20 higher. O Question 3 - X Tables of Premium Rates O Question 4 Question 5 Estimated Annual Life Insurance Premium Rates per $1,000 of Face Value 10-Year Level Term 20-Year Level Term Age Male Female Age Male Female PREF NT T PREF NT T PREF NT T PREF NT T 20 0.87 1.27 2.28 0.75 1.10 1.88 20 1.09 1.50 2.86 0.91 1.31 2.56 O Question 6 25 0.87 1.27 2.28 0.75 1.10 1.88 1.09 1.50 2.86 0.91 1.31 2.56 30 0.87 1.36 2.49 0.75 1.16 2.06 1.12 1.61 3.24 0.96 1.42 2.67 35 0.87 1.44 2.73 0.75 2.23 1.17 1.73 1.02 1.53 2.78 40 1.13 1.96 3.78 1.00 1.57 2.93 1.49 2.36 2.00 3.77 Premium Rates for Periods Less 45 1.51 2.69 5.33 1.38 2.12 4.08 2.23 3.73 8.42 2.92 5.57 50 8.08 1.72 2.98 50 3.45 5.99 12.90 2.59 4.40 8.02 than One Year O Question 7 2.03 3.76 55 2.95 5.61 12.48 2.27 8.33 55 5.38 9.52 19.15 3.96 6.66 11.45 Percent of 60 4.61 9.07 20.07 3.46 6.95 12.57 8.46 15.15 29.14 6.17 10.36 16.74 Annual Whole Life Universal Life Period Premium O Question 8 Age Male Female Male Female Semiannually 51.0 Age PREF NT T PREF NT T PREF NT T PREF NT T Quarterly 26.00 20 8.39 9.02 10.55 7.55 8.12 9.95 20 5.25 5.78 7.17 4.53 4.65 5.97 Monthly 8.75 25 9.51 10.22 12.70 5 9.30 11.59 25 6.21 6.69 8.61 5.37 5.61 7.17 30 10.86 11.68 14.77 9.82 10.56 13.48 30 7.41 8.13 10.29 6.45 6.81 8.73 O Question 9 35 12.37 13.30 16.59 10.97 11.80 14.85 35 9.09 9.93 12.69 7.89 8.25 10.77 40 14.42 15.50 19.31 12.54 13.48 16.69 40 11.25 12.33 15.69 9.69 10.17 13.41 45 17.65 18.98 24.03 15.14 16.28 8 20.43 45 14.01 15.45 19.65 12.09 12.69 16.77 50 22.45 24.14 30.65 19.09 20.53 2 50 17.61 19.17 24.45 15.09 16.05 21.33 55 28.67 30.82 39.00 24.11 25.92 30.97 55 22.41 24.57 31.41 18.93 20.25 2 26.97 O Question 10 60 36.06 38.77 49.39 29.75 31.99 37.25 60 28.77 34.53 43.65 23.97 28.29 37.53 PREF = preferred; NT = non-tobacco; T = tobacco usageQuiz: Exam 8 - Unit 8 (Chapter 19) Question 1 of 15 This quiz: 15 point(s) possible This question: 1 point(s) possible Submit quiz Find the annual premium for a 20-year level term insurance policy with a face value of $15,000 for a 25-year old male who smokes. Round to the nearest cent. Question list K Click the icon to view the tables of premium rates. O Question 1 - X O A. $16.35 Tables of Premium Rates O Question 2 O B. $42.90 O C. $38.40 Estimated Annual Life Insurance Premium Rates per $1,000 of Face Value O D. $34.20 O Question 3 10-Year Level Term 20-Year Level Term Age Male Female Age Male Female PREF NT T PREF NT PREF NT T PREF NT T 20 0.87 1.27 2.28 0.75 1.10 1.88 20 1.09 1.50 2.86 0.91 1.31 2.56 0.87 127 2.28 1.10 1.88 25 1.09 1.50 2.86 0.91 1.31 2.56 O Question 4 20 0.87 1.36 2.49 0.75 1.16 2.06 1.12 1.61 3.24 0.96 1.42 2.67 35 0.87 1.44 2.73 1.26 2.23 1.17 1.73 3.62 1.02 1.53 2.78 40 1.13 1.96 3.78 1.00 1.57 2.93 1.49 2.36 5.38 2.00 3.77 45 1.51 2.69 5.33 2.12 4.08 45 2.23 3.73 8.42 2.92 5.57 Premium Rates for Periods Less than One Year 50 2.03 3.76 S.OS 2.98 5.78 50 3.45 5.99 12.90 2.59 4.40 8.02 O Question 5 55 2.95 5.61 12.48 2.27 4.44 8.33 55 5.38 9.52 19.15 3.96 6.66 11.45 Percent of 60 4.61 9.07 20.07 3.46 6.95 12.57 60 8.46 15.15 29.14 6.17 10.36 16.74 Annual Whole Life Universal Life Period Premium Age Male Female Age Male Female Semiannually 51.0 O Question 6 PREF NT I PREF NT I PREF NT PREF NT Quarterly 26.00 20 8.39 9.02 10.55 7.55 9.95 20 5.25 5.78 7.17 4.53 4.65 5.97 Monthly 8.75 25 9.51 10.22 12.70 8.65 9.30 11.59 25 6.21 6.69 8.61 5.37 5.61 7.17 30 10.86 11.68 14.77 9.82 10.56 13.48 30 7.41 8.13 10.29 6.45 6.81 8.73 35 12.37 13.30 16.59 10.97 11.80 14.85 35 9.09 9.93 12.69 7.89 8.25 10.77 O Question 7 0 14.42 15.50 19.31 12.54 13.48 16.69 40 11.25 12.33 15.69 9.69 10.17 13.41 17.65 18.98 24.03 15.14 16.28 20.43 45 14.01 15.45 19.65 12.09 12.69 16.77 50 22.45 24.14 30.65 19.09 20.53 25.39 50 17.61 19.17 24.45 15.09 16.05 21.33 28.67 30.82 39.00 24.11 25.92 30.97 55 22.41 24.57 31.41 18.93 20.25 26.97 60 36.06 38.77 49.39 29.75 31.99 37.25 60 28.77 34.53 43.65 23.97 28.29 37.53 O Question 8 PREF = preferred; NT = non-tobacco; T = tobacco usage O Question 9 Print Done Question 10