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Question 1 of 5
1. Question
John has a serious illness and fails to disclose it on his application for life insurance, intending to viaticate the purchased policy. The viatical fraud in which he is engaged is known as:
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Question 2 of 5
2. Question
What is the name of the viatical fraud in which a healthy insured falsely claims to have a significant medical problem with the intent of selling his or her life insurance policy in the secondary market?
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Question 3 of 5
3. Question
Which of the following are considered the principal alternatives to a life settlement?
I. Policy loans and withdrawals
II. Accelerated death benefit payments
III. Tax-free policy exchanges
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Question 4 of 5
4. Question
For which of the following would accelerated death benefits generally be a viable alternative to the sale of a life insurance policy in the secondary market?
I. A terminally-ill insured
II. A 70 year-old relatively health insured
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Question 5 of 5
5. Question
Sharon sold her life insurance policy in the secondary market. If she has a current life expectancy of two years, how frequently may the life settlement provider to whom her policy was sold monitor the status of her health?
