CTFA

CTFA practice questions, page 6 of 35, with answer review and explanations.

Question 26

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

Question 27

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

Question 28

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

Question 29

The phase of the economic cycle when levels of employment and production are low and economic growth is at a virtual standstill or even negative is called:

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

Question 30

Gross domestic product is:

  1. The total of all goods and services produced in a country used to monitor economic growth
  2. The half of all goods and services produced in a country used to monitor economic growth
  3. The division of all goods and services produced in a country used to monitor economic growth
  4. None of the above