Question 15 (1 point) Special provisions that may be added to your policy which either provide extra benefits to the beneficiary or limit the company's liability under certain conditions are known as A) alternative provisions. D) secondary provisions. B) attachments. E) none of the above. riders. Question 16 (1 point) You are considering the need for insurance. You desire a policy that provides permanent protection, has a fixed premium, and provides a fixed death benefit. What type of policy would you purchase? A) Fixed premium insurance Whole life insurance 8) Term insurance E) None of the above Universal life insurance Question 17 (1 point) risk sprcting 29 Question 12 (1 point) Using the earnings multiple approach calculate how much life insurance Heather and Robert need to take out on Heather. She earns $80,000 and is 37 years old. They want coverage until she retires at age 67. Robert is sure he can get an annual rate of return on the policy settlement of 8%. They have no children. C) $104,227 A) $854,214 B) $997,553 D) None of the above + Question 13 (1 point) Charles is the sole beneficiary of his late uncle's life insurance policy. The face value of the policy is $785,000. Charles has decided to accept annual annuity payments of $95,000. The interest rate on the policy is 5%. How many annual payments will Charles receive from this policy? PMT A) 8.26 years worth of payments C) 10.92 years worth of payments N- 5% B) 7.08 years worth of payments IN D) None of the above PV 785000 Question 14 (1 point) PMT 95000 VO Let's assume you are the beneficiary of your great Aunt's life insurance policy. Sadly she passed away vesterday. You elect to receive annual payments from this policy for the next 20 years. The settlement amount is $500,000 and the interest accruing on the policy is an annual 8%. What will be your annual life insurance annuity payments? A) $98,934 C) $10,923 B) $50,926 D) $72,551 a reverse premium. C) a premium payout Den annuity. B) an annual premium. Question 8 (1 point) Patty and Johnny have decided to buy a life insurance policy that would cover a $55,000 cash flow stream for the next 15 years until the kids are out of school. If they feel they can earn 5.5% after taxes and inflation, what are their life insurance needs today? A) 5825,000 C) $552,067 B) 5657,272 D) $795,520 Question 9 (1 point) The primary advantage of term insurance is Question 5 (1 point) Celineshame Ss0.000 a year to help provide financial support to her family, comprised of hand and two children. She is considering purchasing life insurance. Using the earnings multipla anaraach how much coverage should she purchase using a discount rate of 5% to replace 10 years earnings? 50,000x (1.05 A) $301,148 C) $386,000 PMT B) $340,005 D) $500,000 N 1072 Question 5 (1 point) I/Y 5% PV - With decreasing term insurance PMT 50.000