Preview Questions Insurance Advisor | Role Specific Skill

Question 1: When assessing the impact of inflation on a client's future financial needs, what approach should an advisor take?

Which action should you take?

Choose only one option

Use projected inflation rates and adjust the financial plan accordingly

Ignore inflation as it has little effect on long-term goals

Focus solely on the client's current income level

Estimate the client's future job growth based on industry trends

Question 2: When dealing with a price-sensitive client, which approach should an Insurance Advisor take to maintain the sale while addressing concerns over price?

Which action should you take?

Choose only one option

Offer a temporary price discount

Reduce the policy's coverage to lower the price

Focus on the value and long-term benefits of the policy

Suggest a cheaper competitor's plan

Question 3: How should an insurance advisor respond to a client who has expressed dissatisfaction with the terms of their policy?

Which action should you take?

Choose only one option

Avoid further communication to avoid conflict

Acknowledge the concern and offer a review of options

Disregard the complaint and continue business as usual

Offer a full refund for the policy

Question 4: What is the most effective way to approach a client's concerns about changing their insurance provider?

Which action should you take?

Choose only one option

Suggest offering the lowest premiums without discussing needs

Focus on how their current provider is underperforming

Avoid discussing the client's concerns and push for a quick sale

Highlight how your policy can better meet their current and future needs

Question 5: What is the primary purpose of calculating a client's replacement ratio during a needs analysis?

Which action should you take?

Choose only one option

To calculate the total insurance coverage needed for retirement planning

To estimate the portion of income the client needs to maintain their lifestyle

To analyze the client's debts and liabilities

To determine the client's monthly living expenses

Question 6: What is the main advantage of a premium waiver rider in a life insurance policy?

Which action should you take?

Choose only one option

It allows the policy to be transferred to a spouse

It provides tax relief to the policyholder

It increases the death benefit payout upon disability

It waives premium payments if the policyholder becomes disabled or critically ill