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Apart from comparing cover and costs, what other key factor should usually be considered if a financial adviser intends to recommend that a client cancels an existing term assurance policy and replaces it with a new one?

  1. The insurable interest
  2. The underwriting requirements
  3. The secondhand policy market value
  4. The chargeable gains

Answer(s): B



The primary purpose of a key person insurance policy is to provide funds on the death of the life assured directly to the deceased's:

  1. Children only
  2. Employer only
  3. Estate only
  4. Spouse only

Answer(s): B



The phase of the economic cycle when levels of employment and production are high and economy is growing, generally accompanied by high prices for goods and services is called:

  1. Growth
  2. Expansion
  3. Depression
  4. Recovery

Answer(s): B



The phase of the economic cycle when levels of employment and production fall and the growth of the economy slows is called:

  1. Growth
  2. Expansion
  3. Recession
  4. Recovery

Answer(s): C






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