Free Taiwan Insurance Salesperson Exam Practice Questions
4 sample questions · Life Insurance, 2 Parts · answers & explanations
All questions are drawn from the Life Insurance salesperson question bank, and are the same questions a non-premium user previews for free in the app (the first two questions of each of the 2 Parts — regulations and practice). Tap an answer to check yourself and read the explanation. The full app has 3,500+ originally authored questions and mock exams covering all four licences: Life, Property, Investment-linked and Foreign-currency insurance.
A has long borne the education expenses of his nephew. Under the insurable interest provisions of the Insurance Act, does A have an insurable interest in the nephew?
Why: Under Article 16, subparagraph 2 of the Insurance Act, the proposer has an insurable interest in a person who relies on him for living or education expenses. The key is the economic relationship of reliance, not the closeness of blood relation, so A has an insurable interest in the nephew who relies on him for education expenses.
Under the Insurance Act, when a creditor takes out personal insurance on a debtor to protect the debt, what is the basis for the insurable interest?
Why: Under Article 16, subparagraph 3 of the Insurance Act, the proposer has an insurable interest in the debtor's life or body, allowing a creditor to take out personal insurance on the debtor to ensure the debt remains protected if an event befalls the debtor.
Under the model policy provisions for interest-sensitive annuities, which of the following correctly describes the nature and use of the "declared interest rate"?
Why: According to the definitions in the model policy provisions for interest-sensitive annuities, the declared interest rate is the rate declared by the insurer in the month of the contract effective date or each policy anniversary and used to calculate that year's annuity policy reserve; it is set with reference to a designated index and may not be negative. The rate used to calculate the annuity amount, by contrast, is the assumed interest rate.
Regarding the main distinction between a deferred annuity and an immediate annuity, which of the following statements is most accurate?
Why: A deferred annuity, after the policy is taken out, must pass through an accumulation period during which the annuity policy reserve builds up, and payments begin only on the annuity commencement date. A (traditional) immediate annuity, by contrast, enters the annuity payment phase immediately once the contract is concluded and the premium is paid in full, with no accumulation period; it is commonly purchased on a single-premium basis.
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Written to the current Insurance Act, salesperson administration rules and model policy provisions across all four licences, with bilingual explanations.
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