BDO Life

Test Your Knowledge of BDO Life Insurance

Are you ready to dive into the world of life insurance? This quiz on BDO Life covers essential topics that every agent and policyholder should know. Challenge yourself and see how well you understand the intricacies of life insurance policies!

35 engaging questions
Multiple choice and checkbox formats
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35 Questions9 MinutesCreated by LearningTree42

A fixed amount added to the premium of a given policy regardless of policy size is known as

Policy fee

Policy reserve

Policy Values

Extra Premium

To be able to calculate the required premium for a given policy, the agent must know the applicant's

Age

Choice of Plan

Face amount desired

All of the above

For a contract to be a legal and binding

Parties to the contract must be memebers of the bar

Parties to the contract must be legally competent

Parties to the contract must be above 21

Partiest must be posses blood and relationship

The insurance code specifies that a contract does not take effet unless

A policy is delivered to an insured, his assignee or agent, or to a beneficiary

Payment of the first premium is made to the insurer or its authoried agent

No change has taken place in the insurability of the life to be insured between the time of the application was completed and the time the policy was delivered

The insured has named in the policy no fewer than two beneficiaries

All of the following would be practicable to become beneficiaries except

Children by former marriage

Brothers and sisters

Parents

Someone to whom you owe money

Anybody can be designated a beneficiary except

A creditor

Minors

Those expressly prohibited by law to receive a donations

All of the above

The common practice of most life insurers is that the life insurance goes into force

When the application is received by the branch office

When the policy is delivered to the applicant

In accordance with the legal stipulation of the insurance code

When the agent gives a binding receipt

A policy holder may obtain money from the insurance company and still ramin insured by

Surrendering the policy for its cash value

Discountinuing payment of premium for some period

Taking a policy loan

Taking the extended insurance option

When explaining dividends, the following information must be supplied

That they are not guaranteed

The dividends paid up in previous years

The anticipated dividends

The relation to the cost of the policy

If the insured dies during the grace period of an unpaid life insurance, the amount payable to the beneficiary is usually the

Total premium paid plus the interest

Cash surrender value of the policy minus the unpaid premiums

The face amount of the policy minus the unpaid premiums

Full face amount

An insurance plan which offers both protection and savings is called

Temporary plan

Permanent plan

Participating plan

Non-participating plan

It is a Participating life insurance plan that provides lifetime insurance coverage (until age 99).

The following are the Living Benefit for the Dollar Secure Plus except

Educational Grant

Graduation Gift

Policy Dividends

Excellence Award

Choose the correct product description of SaveFlex Secure

Front-end charge , Flexible death benefit coverage

Back-end charge, Flexible death benefit coverage

Front-end charge, Death benefit similar to 5-Pay Life

Front-end charge, Minimum death benefit

What is the system used to check the policy of the client

BDO Life Asia

BDO Asia Life

CLS

Docuvu

Ms. Anabelle a policy owner called to inquire on his Cash Dividends, what are the correct PID that you need to ask

Policy Number, Date of Birth

Middle Name, Name of Beneficiary

Policy Number, Middle Name

Agent Code, Middle Name

Mark a financial advisor called for Allan also a financial advisor to ask for the cash dividends of a policy. Will you provide an information to Mark?

Yes, he is a financial advisor

No, advise to let Allan call

The 3 non forfeiture values in a permanent policy are

Cash dividends, bonus additions,and extended term insurance

Cash surrender, loan value, assignment

Waiver of premium, reinstatement, policy loan

Cash surrender, extended term, reduced paid up

Which of the Old Products have a packaged of WPD & ADB only

Which of the following are the products that offer Guaranteed Death Benefit?

Dollar Secure Plus and Peso Secure Plus

Peso/Dollar Secure 88 and Premium Cash back

Peso/Dollar Secure 88 and Peso Secure Plus

Peso Secure Plus and Premium Cash back

Which of the following are the products that offer Contingent Allowance Benefit?

Dollar Secure Plus and Peso Secure Plus

Peso/Dollar Secure 88 and Premium Cash back

Premium Cash back and Peso/Dollar Secure 88

None of the above

Issued Age for the insured of Premium Cash back

1 month - 75 years old

20 - 55 years old

18 - 60 years old

Is this statement correct ? For College Secure the Graduation Gift is given on the 5th year from the Maturity Date or 7 months after the last educational grant.

True

False

A policy with a minor as the proposed insured is called

Rated policy

Juvenile Policy

Regular Policy

Substandard Policy

What are the basic settlement options

Cash surrender value, automatic premium loan

Fixed amount, fixed period, interest, fixed period and for life

Double indemnity, total disability, waiver of premium

Policy loans, assignment, beneficiary designation

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