1. With respect to group life insurance coverage, types of underlying coverage include all of the following except
    1. Decreasing term
    2. whole life
    3. universal life
    4. annual renewable term
  2. Methods for determining the benefits under a group life insurance policy exclude all of the following except
    1. Final average pay.
    2. Flat benefit
    3. X times the employee's salary
    4. b and c
  3. Which statement is most accurate regarding taxability of group life insurance premia and proceeds
    1. To the extent that a plan is contributory, the employee paid premia are deductible to the employee;
    2. To the extent that a plan is non contributory, the premia are included in the employee's gross income;
    3. Tax benefits inure to employers who comply with non discriminatory coverage and requirements;
    4. As distinct from non-key employees, key employees must pay income tax on the first $50,000 of coverage.
  4. Benefits of group life insurance coverage include all of the following except
    1. Portability without evidence of insurability depending upon state law;
    2. Lower cost per unit benefit than comparable individual coverage;
    3. More rigorous underwriting due to the coverage of multiple lives;
    4. Simplified eligibility requirements for coverage.
  5. When the employees share in the cost of the group life premia, the arrangement is referred to as
    1. Split dollar
    2. Cost sharing
    3. Contributory
    4. Aleatory
  6. Other forms of group life insurance coverage include all of the following except
    1. Annual renewable term
    2. Franchise Life
    3. Multiple Employer Welfare Arrangement
    4. Blanket Life Insurance
  7. Underwriting methods for group life insurance coverage exclude all of the following except
    1. Rate-up in age method
    2. Experience rating
    3. Traditional net cost method
    4. Standard risk


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