Zurich Australia Limited ABN AFSLN Product Accreditation Test for Zurich FutureWise At date: 1 October 2016

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1 Name: Date: Signature: / / Phone Number: Zurich Australia Limited ABN AFSLN Product Accreditation Test for Zurich FutureWise At date: 1 October 2016 Participant instructions 1. Please print your details and sign at the top of this page 2. The examination consists of 20 questions 3. Please circle the number responding to the answer you choose, unless otherwise indicated 4. You may consult the Zurich FutureWise PDS during this exam 5. The pass rate has been set at 80%. Office use only Total marks available 20 Total marks obtained 1 October 2016 Zurich Australia Limited AWAS of 6

2 Question 1 To apply for Life Insurance under Zurich FutureWise, the insured person must be what age or younger? a) 60 b) 65 c) 70 d) 80 Question 2 What is the maximum monthly insured amount available under Business Expenses Insurance? a) $30,000 per month b) $60,000 per month c) Business Expenses is not available under Zurich FutureWise d) $25,000 per month Question 3 The Partial Impairment benefit under TPD Platinum pays 65% of the TPD Insurance sum insured if the insured person suffers functional impairment of: a) At least 2 extended activities of daily living (extended ADLs) b) At least 3 extended activities of daily living (extended ADLs) c) At least 4 extended activities of daily living (extended ADLs) d) At least 5 extended activities of daily living (extended ADLs) Question 4 On the cover anniversary when the insured person is age 65, what happens to TPD Insurance? a) All cover ceases b) Nothing, TPD Insurance is not affected by reaching age 65 c) Cover reduces to $3 million and is provided on the basis of the Modified TPD definition d) Cover reduces to $2 million and is provided on the basis of the Modified TPD definition Question 5 Which of the following is correct about Future Increases, which is a standard in built feature of all Zurich FutureWise contracts? a) for Life, TPD or Trauma, it does not cover business events. b) Increases without medical evidence under this feature are available until the insured person is aged 55 c) under Disability Income, it can be only be exercised every three years d) an extra premium is charged to have this feature available 1 October 2016 Zurich Australia Limited AWAS of 6

3 Question 6 The partial disability definition under Zurich FutureWise Disability Income requires how many days of total disability prior to commencing the partial disability benefit payments? a) 7 days b) 5 days c) 0 days d) 14 days Question 7 Which of the following statements is incorrect with respect to Child Trauma Insurance? a) Child Trauma Insurance is available to children aged between 2 and 14 b) The Child Trauma Insurance sum insured is payable if the insured child suffers one of the listed child trauma conditions c) The Child Trauma Insurance sum insured can increase each year by the greater of 3% and the increase in the CPI. d) Child Trauma Insurance can only be converted into an adult policy once the child is 18 Question 8 The Guaranteed upgrades feature which applies to Zurich FutureWise means which of the following: a) Zurich cannot cancel the policy because of changes to the insured person s health b) the cover automatically indexes every policy anniversary c) Zurich will automatically pass on any future improvements made to Zurich FutureWise that do not result in an increase in the premium rates d) the benefit payable is doubled if the claim is the result of an accident Question 9 Which of the following is not an in-built or optional feature of the Trauma contract? a) Accident Option b) Trauma Reinstatement, which allows reinstatement of the Trauma cover 12 months after a claim c) Future Increases, which allows the cover to be increased without medical underwriting on certain events d) Double Trauma, which allows the Life Cover to be reinstated 14 days after a claim 1 October 2016 Zurich Australia Limited AWAS of 6

4 Question 10 The benefits which are automatically included in the Zurich FutureWise TPD Insurance, if TPD Platinum is selected, are as follows: a) TPD benefit, TPD Advancement Benefit and Partial Impairment benefit b) TPD benefit, TPD Advancement Benefit, Partial Impairment benefit, Financial Planning benefit and Accident benefit c) TPD benefit, TPD Advancement Benefit and Financial Planning benefit d) TPD benefit, TPD Advancement Benefit, Partial Impairment benefit and Financial Planning benefit Question 11 If your client has $500,000 of Trauma Insurance and is diagnosed with a melanoma that measures 0.8mm in Breslow thickness without ulceration and is classified as is stage T1aN0M0, how much would the claim payment be? a) $500,000 b) $100,000 c) Nothing, it does not meet any condition covered under Trauma insurance d) $20,000 Question 12 To qualify for Zurich FutureWise Disability Income Insurance the insured person must be working in either a permanent part-time or full-time occupation for a) a maximum of 37.5 hours per week b) a minimum of 20 hours per week c) no greater than 20 hours per week d) no greater than 45 hours per fortnight Question 13 What happens to a Life Insurance benefit if a standalone TPD claim under a TPD Insurance Policy is paid? a) it will reduce the Life Insurance benefit will be reduced by the amount paid for TPD b) there is no impact at all on the Life Insurance benefit c) the policy will cease d) the Life Insurance benefit is paid 1 October 2016 Zurich Australia Limited AWAS of 6

5 Question 14 Which of the following statements is correct with respect to Trauma Platinum under Zurich FutureWise: a) Trauma Platinum provides a full payment of the Trauma Insurance sum insured for 44 conditions b) Trauma Platinum provides a boosted payment for four severe trauma conditions c) Trauma Platinum provides partial payments for 20 conditions d) All of the above Question 15 The Life Insurance Buy back feature, which is a standard built in feature of TPD and Trauma, allows reinstatement of the Life sum insured that was reduced by a TPD or Trauma claim after what period of time? a) 12 months b) 1/3 each year over 3 years c) 14 days d) 6 months Question 16 What is the minimum rate of indexation that is applied each year to Life, TPD and Trauma Insurance? a) 0% b) 5% c) 3% d) 10% Question 17 Which of the following is not included in the defined term of income? a) Regular bonuses or commissions b) Salary c) Rental income d) Regular overtime payments 1 October 2016 Zurich Australia Limited AWAS of 6

6 Question 18 What is the Extra Benefits option under Zurich FutureWise Disability Income? a) An optional package of benefits and features which can be added to Disability Income Standard or Disability Income Plus b) Trauma benefit, Bed Confinement benefit, Home Care benefit, Rehabilitation Expenses benefit, Medical Professionals feature, Accommodation benefit, Future Increases feature and Cover Extension feature c) A package of benefits which is applies automatically if Disability Income Plus is selected d) None of the above Question 19 The total disability definition under Zurich FutureWise Disability Income Standard requires how many days of total disability prior to commencing the total disability benefit payments? a) 7 days b) 5 days c) 0 days d) 14 days Question 20 Which of the following statements about Superannuation Optimiser is correct? a) When Superannuation Optimiser applies to TPD Insurance, the cover is held across two policies which are connected by Flexible Linking. One of the policies is issued to a trustee of a superannuation fund, and the remainder of the cover is issued under a policy outside superannuation. b) If Disability Income Standard or Plus is to be owned by a trustee of a superannuation fund, the cover is issued as two separate Disability Income Insurance policies linked to each other under the Superannuation Optimiser structure. One policy will be owned by a trustee of a superannuation fund (benefits held under this policy are restricted to comply with superannuation law). The remainder of the benefits which would otherwise be available under Disability Insurance will be provided under a policy issued outside superannuation. c) Neither a or b d) Both a and b 1 October 2016 Zurich Australia Limited AWAS of 6