Protection IUL [SS07 L4 of 7]

Question 1

TRUE/FALSE

The index performance charge applies to the Base Indexed Accounts.

Question 2

The available index accounts in NY are:

• Capped
• High Par
• Base Capped
• Base High Par
• PIUL 21 is not approved in the state of NY

Question 3

What of the following accounts, on PIUL, have an Indexed performance Charge?

• Fixed Account
• Base Capped Two Year Account
• Capped Indexed Account
• Select Capped Indexed Account
• High Par Capped Indexed Account
• High Capped Indexed Account

Question 4

Policy loans on the PIUL:

• Are available any time after the policy is inforce
• Have a minimum loan amount of $500
• Have no charge associated with them at any point
• Are available after the 3rd policy anniversary

Question 5

TRUE/FALSE

The charge for Vitality Plus on PIUL is $4 per month.

Question 6

TRUE/FALSE

Segments are created on the 15th of each month, and mature after 18 months.

Question 7

The assumed rate for the Capped Indexed Account in PIUL is:

• 5.14%
• 6.22%
• 4.78%
• 5.75%

Question 8

TRUE/FALSE

The minimum face amount for the PIUL is $100,000.

Question 9

What loan options are available to the PIUL?

• Indexed Loan
• Standard Loan
• Fixed Index Loan
• Withdrawals

Question 10

The available core Indexed Accounts available in the PIUL are:

• Capped
• High Capped
• High Par Capped
• Plus Capped
• Plus Capped
• Hang Seng

Question 11

TRUE/FALSE

One way to try to reduce market volatility is by using automated transfers.

Question 12

The Base High Par Capped accounts has a guaranteed multiplier of:

• 38%
• 55%
• 65%
• 0%

Question 13

What is the first year maximum premium?

• 4x Target
• 20x Target
• 15x Target
• 10x Target

Question 14

The No Lapse premium is also referred to as:

• Death Benefit Duration
• Death Benefit Extension
• Death Benefit Protection
• Death Benefit Guarantee

Question 15

TRUE/FALSE

Death Benefit changes from Option 1 to 2 are allowed after policy year 1.

Question 16

The Cash Value Enhancement Rider (CVE) on the PIUL:

• Enhances the case value for the first five years
• Has a one-time charge of $400
• Impacts compensation
• Extends the chargeback period

Question 17

TRUE/FALSE

The persistency bonus id a guaranteed bonus that starts in year 11.

Question 18

TRUE/FALSE

The Quit Smoking Incentive (QSI) allows standard and preferred smokers to receive standard non-smoker charges for the first 4 policy years.

Question 19

The Indexed Performance Charge starts in year:

• 6
• 11
• 1
• 2

Question 20

TRUE/FALSE

The earliest someone can request a change to non-smoker is on or after the first policy anniversary.

Question 21

Upon surrender, the cumulative guarantee ensures a minimum annualized ROR over the life of the policy of:

• 1%
• 2%
• 3%
• 4%

Question 22

With QSI, to maintain non-smoker charges, insureds must:

• Have quit smoking for at lase 18 months
• Submit a micro free of nicotine
• Quit smoking for at least 12 consecutive months

Question 23

The max potential crediting for the Capped Indexed account is:

• 8%
• 13.95%
• 13.2%
• 15.75%

Question 24

One way to avoid surprise premium increases on a PIUL policy with Vitality is to:

• Solve to pay for a set premium duration
• Lifetrack solve
• Lifetrack Solve Bronze
• Assume Gold all years

Question 25

On the PIUL, face amount decreases:

• Are first allowed after the second policy year
• Have a minimum decrease of $50,000
• Have a pro rata surrender charge during the surrender period
• Allow the policy to go below the minimum face amount

Question 26

TRUE/FALSE

PIUL can utilize either GPT or CVAT for the Definition of Life Insurance test.