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
- Instant feedback on your answers
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
What kind of Product is Money 88?
Old Products
Current Products
Not An Insurance
What kind of Product is Dollar Secure Plus?
Old Products
Current Products
Not An Insurance
What kind of Product is Life Secure?
Old Products
Current Products
Not An Insurance
It is a Participating life insurance plan that provides lifetime insurance coverage (until age 99).
Life Secure
Term Secure
Money 8
Endowment
Life Secure Non Par
A Life Secure plan with built in Accidental Death Benefit and Waiver of Premium.
Life Secure
Term Secure
Money 8
Endowment
Life Secure Non Par
It is a Non-Participating, 5-Year Renewable and Convertible Term Insurance Plan?
Life Secure
Term Secure
Money 8
Endowment
Life Secure Non Par
The following are the Living Benefit for the Dollar Secure Plus except
Educational Grant
Graduation Gift
Policy Dividends
Excellence Award
It is a 10-year Level Term Plan with no Claim Bonus?
Dollar Secure Plus
Peso Secure Plus
Peso/Dollar Secure 88
College Secure
Premium Cashback
How long is the paying period of ValueFlex Secure?
10 years
5 Years
6 Years
3 Years
How long is the paying period of WealthFlex Secure?
10 years
5 Years
6 Years
3 Years
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
All are Basic PID except
Name Of Beneficiary
Date of Birth
Policy Number
Mailing Address
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
Dollar Secure Plus
Peso Secure Plus
Peso/Dollar Secure 88
Dollar/College Secure
Premium Cash back
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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