Pearson Vue Life + Health Insurance
2026/2027 Exam With Questions And
Answers
A contract that has as its basic function the systematic liquidation of accumulated assets through
periodic payments is called an:
A. indemnity contract
B. investment contract
C. endowment
D. annuity - correct answer <<<<<💕💕💕✔✔D
An insurance producer takes an application for a life insurance policy but does not collect the initial
premium. On delivery of the policy to the proposed insured, the producer must collect the initial
premium and which of the following?
A. A copy of the MIB report
B. The insured's signed statement of continued good health
C. A copy of the conditional receipt
D. A copy of the temporary insurance agreement that covered the period between the application date
and the delivery date. - correct answer <<<<<💕💕💕✔✔B
An employer can deduct premium payments as an ordinary business expense for which of the following
life coverages?
A. Buy and Sell Agreements
B. Group
C. Key Employee
D. Joint Life, if the business is named as the beneficiary - correct answer <<<<<💕💕💕✔✔B
,In the event of an insured's death, which of the following provides an income for the family during a
designated period of time followed by a lump sum death benefit?
A. Family Income rider
B. Survivorship Life policy
C. Joint Life policy
D. Modified Life policy - correct answer <<<<<💕💕💕✔✔A
Which of the following statements is CORRECT about Group Life conversion privileges?
A. Under the COBRA law, a departing employee may elect to remain a member of the Group Life plan for
a limited period of time.
B. Death during the conversion period is covered even if the departing employee chose not to convert
the policy.
C. A departing employee must individually pay the premium if the employee elects to be covered during
the conversion period.
D .If a departing employee elects to convert a life insurance policy, the insurer must offer Term
insurance as one of the choices. - correct answer <<<<<💕💕💕✔✔B
Which of the following policies is an interest-sensitive form of permanent protection?
A. Universal Life
B. Limited-Pay Life
C. Graded Premium Whole Life
D. Modified Whole Life - correct answer <<<<<💕💕💕✔✔A
Reinstatement of a life insurance policy requires an insured to take all of the following actions EXCEPT:
A. provide evidence of insurability
B. make collateral assignment to the insurer
C. pay back interest on any outstanding policy loan
D. pay all past-due premiums - correct answer <<<<<💕💕💕✔✔B
Which of the following statements about a Renewable Term policy is CORRECT?
, A. It is renewable at the option of the insurer.
B. It is renewable at the option of the insured.
C. It is renewable at the option of the insurer, with proof of insurability.
D. It is renewable at the option of the insured, with proof of insurability. - correct answer
<<<<<💕💕💕✔✔B
Which of the following policy provisions provides for continuation of coverage despite nonpayment of
premiums?
A. Entire Contract
B. Ownership clause
C. Nonforfeiture Option
D. Insuring clause - correct answer <<<<<💕💕💕✔✔C
An applicant for life insurance may question the validity and source of any consumer information
developed under the
A. Medical Information Bureau Disclosure Act
B. Fair Credit Reporting Act (Insurance Information and Privacy Protection Act)
C. Equal Employment Opportunity Act
D. Medicare Act - correct answer <<<<<💕💕💕✔✔B
The PRIMARY reason for selecting a Variable Whole Life policy instead of a traditional Whole Life policy
is that the Variable Whole Life policy:
A. provides flexible premium payments
B. allows the policyowner to borrow a larger percentage of the cash value
C. has the potential to earn a higher rate of return on the cash value
D. allows the policyowner more flexibility in naming and changing beneficiaries - correct answer
<<<<<💕💕💕✔✔C
2026/2027 Exam With Questions And
Answers
A contract that has as its basic function the systematic liquidation of accumulated assets through
periodic payments is called an:
A. indemnity contract
B. investment contract
C. endowment
D. annuity - correct answer <<<<<💕💕💕✔✔D
An insurance producer takes an application for a life insurance policy but does not collect the initial
premium. On delivery of the policy to the proposed insured, the producer must collect the initial
premium and which of the following?
A. A copy of the MIB report
B. The insured's signed statement of continued good health
C. A copy of the conditional receipt
D. A copy of the temporary insurance agreement that covered the period between the application date
and the delivery date. - correct answer <<<<<💕💕💕✔✔B
An employer can deduct premium payments as an ordinary business expense for which of the following
life coverages?
A. Buy and Sell Agreements
B. Group
C. Key Employee
D. Joint Life, if the business is named as the beneficiary - correct answer <<<<<💕💕💕✔✔B
,In the event of an insured's death, which of the following provides an income for the family during a
designated period of time followed by a lump sum death benefit?
A. Family Income rider
B. Survivorship Life policy
C. Joint Life policy
D. Modified Life policy - correct answer <<<<<💕💕💕✔✔A
Which of the following statements is CORRECT about Group Life conversion privileges?
A. Under the COBRA law, a departing employee may elect to remain a member of the Group Life plan for
a limited period of time.
B. Death during the conversion period is covered even if the departing employee chose not to convert
the policy.
C. A departing employee must individually pay the premium if the employee elects to be covered during
the conversion period.
D .If a departing employee elects to convert a life insurance policy, the insurer must offer Term
insurance as one of the choices. - correct answer <<<<<💕💕💕✔✔B
Which of the following policies is an interest-sensitive form of permanent protection?
A. Universal Life
B. Limited-Pay Life
C. Graded Premium Whole Life
D. Modified Whole Life - correct answer <<<<<💕💕💕✔✔A
Reinstatement of a life insurance policy requires an insured to take all of the following actions EXCEPT:
A. provide evidence of insurability
B. make collateral assignment to the insurer
C. pay back interest on any outstanding policy loan
D. pay all past-due premiums - correct answer <<<<<💕💕💕✔✔B
Which of the following statements about a Renewable Term policy is CORRECT?
, A. It is renewable at the option of the insurer.
B. It is renewable at the option of the insured.
C. It is renewable at the option of the insurer, with proof of insurability.
D. It is renewable at the option of the insured, with proof of insurability. - correct answer
<<<<<💕💕💕✔✔B
Which of the following policy provisions provides for continuation of coverage despite nonpayment of
premiums?
A. Entire Contract
B. Ownership clause
C. Nonforfeiture Option
D. Insuring clause - correct answer <<<<<💕💕💕✔✔C
An applicant for life insurance may question the validity and source of any consumer information
developed under the
A. Medical Information Bureau Disclosure Act
B. Fair Credit Reporting Act (Insurance Information and Privacy Protection Act)
C. Equal Employment Opportunity Act
D. Medicare Act - correct answer <<<<<💕💕💕✔✔B
The PRIMARY reason for selecting a Variable Whole Life policy instead of a traditional Whole Life policy
is that the Variable Whole Life policy:
A. provides flexible premium payments
B. allows the policyowner to borrow a larger percentage of the cash value
C. has the potential to earn a higher rate of return on the cash value
D. allows the policyowner more flexibility in naming and changing beneficiaries - correct answer
<<<<<💕💕💕✔✔C
