Preview Questions Insurance Advisor | Role Specific Skill

Question 1: What is a participating life insurance policy?

Which action should you take?

Choose only one option

A policy that shares its profits with the policyholder in the form of bonuses

A policy that only offers life coverage without any investment component

A policy that guarantees returns based on interest rates

A policy offering coverage for critical illness in addition to life insurance

Question 2: For a client seeking cyber insurance coverage, which critical step ensures proper quantification of risk exposures related to data breaches, ransomware, and business interruption events?

Which action should you take?

Choose only one option

Using a generic factor for cyber risk without differentiation

Ignoring cyber risk entirely and focusing on property and casualty exposures

Assuming a fixed average loss per breach based on industry rumors

Conducting a comprehensive cyber risk assessment including network vulnerability scans, incident simulations, and scenario-based financial impact analysis

Question 3: Which of the following best describes the advantage of a guaranteed universal life insurance policy?

Which action should you take?

Choose only one option

It offers both permanent and term coverage

It provides a guaranteed death benefit with level premiums

It allows for the investment of premiums

It provides a flexible death benefit

Question 4: How would you explain a complex insurance product to a client without prior knowledge of the product?

Which action should you take?

Choose only one option

Provide them with detailed brochures

Simplify the product by focusing on key benefits and real-life examples

Tell them it's a common policy with minimal risks

Use technical jargon to impress the client

Question 5: When evaluating the risk of insuring an individual with a pre-existing medical condition, what is typically considered by the underwriter?

Which action should you take?

Choose only one option

The potential for future complications based on current treatments

All of the above

Whether the condition is stable and well-managed

The cost of medications for the condition

Question 6: What distinguishes a traditional life insurance policy from a modern investment-linked policy?

Which action should you take?

Choose only one option

Traditional policies have higher premium rates compared to modern policies

Traditional policies focus on guaranteed benefits, while investment-linked policies are subject to market risks

Modern policies provide health coverage, while traditional policies focus solely on life insurance

Traditional policies offer investment returns based on interest rates, while modern policies offer guaranteed returns