All RE5 questions
Financial Products Apply knowledge of the financial products and services environment
Which of the following is an example of a LONG-TERM insurance product?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) A whole-life policy that pays a benefit on the death of the life insured.Correct
- b) A motor-vehicle insurance policy covering accident damage.
- c) A household contents policy covering theft.
- d) A commercial property fire policy.
Why this is the answer
Life, disability and similar policies fall under long-term insurance. Motor, household contents and commercial property cover are short-term (indemnity) insurance products.
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