LIFE

1.

2 points

Is a Dental Nurse allowed to apply for a Needle Stick Benefit?

Yes

Only if they have been working for longer than three years

No

Need more information from underwriting

2.

2 points

Paul S is trying to calculate what the monthly benefit for his client’s Income Protection Policy. Given his client earns $100,000 annually and $20,000 of Super Guarantee as a package, what would the monthly benefit be?

$109,500

More information needs to be provided for an underwriting decision to be made

$120,000

$100,000

3.

2 points

Jodi Roser calls about policy T0336963. Why does the policy’s RCD date not match the In Force date?

The policy lapsed

Backdated policy commencement due the client’s birthday

Backdated policy commencement to match when the application was received

Client needed to extend the interim cover to keep it in line with existing cover

4.

2 points

If a client reduces the benefit of a policy that is eligible for a Loyalty Benefit, what happens to the percentage of Loyalty Benefit they receive?

It will reduce by the same ratio of the benefit reduction

The customer will lose their Loyalty Benefit

It remains the same

The loyalty benefit won’t be affected by any policy alteration

5.

2 points

Under duty of disclosure, in what circumstance would our policy holders have to inform us of a change in circumstances?

If they are travelling overseas for over twelve months

If they suffer medical trauma

If it is a lifestyle change

They don’t have to inform us

6.

2 points

In what circumstances is initial commission paid on a policy?

New policies

On voluntary increases in benefits

On replacement policies

New Policies and on Voluntary increases in benefits only

7.

2 points

Which insurance premium displays the effect of the Insurance Administration Fee of 15% on a $700 base premium?

$750

$850

$514

$800

8.

2 points

How can a SMSF pay for a Term Life as Super policy through rollover?

A SMSF cannot pay for a policy via rollover

Through cheque and a Rollover Benefit Statement

Direct Debit Request Form and a Rollover Benefit Statement

Ongoing rollover request form

9.

2 points

Which team administrates initiating rollovers for Term Life as Super policies?

Policy services

It depends on when the policy was taken out

Customer Relations

New Business

10.

2 points

Reagan C calls, she has recently sent in an Alteration Request Form to change the address we have on file. Since then she has been charged a different premium, what is the most likely reason this has occurred?

The Alteration Request Form was incorrectly interpreted

There has been a change in Stamp Duty

Reagan has multiple policies

She has missed last month’s premium payment