TN LIFE 2026-2027 MOCK
EXAM REVIEW
2026-2027
Master Exam Prep Bundle
(Verified Questions & Answers)
A+ Grade Guaranteed
,Steven provided misleading information on his license The insurance Commissioner may refuse to issue Steven a license
application. best fits the penalty the Commissioner might
impose on Steven?
All of following are violations that may lead the insurance **Having been convicted of a misdemeanor
Commissioner to suspend or revoke a license EXCEPT:
** Improperly withholding or misappropriating any property
received in the course of doing insurance business
**Intentionally misrepresenting the terms of an insurance
policy
**Having been convicted of a misdemeanor
**Having an insurance producer license denied,
suspended, or revoked in another jurisdiction
An individual's license can be suspended or revoked if Companies that are not authorized to transact the business of insurance in
they do business with unlicensed individuals and - Tennessee
How many days does the Commissioner have to notify an 30 days
individual that their application for a license is being
denied?
All of the following are duties of the Commissioner **The Commissioner may put a person in jail for violating insurance regulations
EXCEPT:
** The Commissioner may put a person in jail for violating The Commissioner may do all of the above except put a person in jail.
insurance regulations
**The Commissioner may conduct investigations
**The Commissioner may be empowered to subpoena
witnesses and examine them under oath
**The Commissioner may choose to place a person on
probation, suspend, revoke or refuse to issue or renew an
individual's license
Any action by the Commissioner to put on probation, Uniform Administrative Procedures Act
suspend, revoke or deny the renewal of a license is
governed by the _________
Who has the authority to enforce the insurance laws of The Commissioner
Tennessee and impose any penalty or remedy authorized
against any person who is under investigation for or
charged with a violation of insurance laws or regulations?
____________ is a person required to be licensed under A Producer
the laws of this state to sell, solicit or negotiate insurance.
_____________means a person, who sells, solicits or Limited Lines Producerr
negotiates one or more forms of limited line credit
insurance coverage to individuals through a master,
corporate, group or individual policy.
Kevin sold insurance for an insurance company not Kevin will be personally liable
authorized to do business in Tennessee. Who is liable for
any premiums paid for, or valid claims made on, all
contracts of unlawfully sold insurance?
Which of the following answers best describes the The unlicensed individual may not receive any compensation for conducting the
compensation an unlicensed individual may receive from business of insurance if they are required to be licensed for that business
an insurer or insurance producer for conducting insurance
business for which a license is required?
What is the term used to describe the commissions that Renewal or deferred commissions
may be paid to an unlicensed individual who was licensed
at the time of the sale, solicitation or negotiation of
insurance for which they are being paid?
, Mary is an unlicensed individual. Joe is a licensed **Mary will only be paid for her referral if the customer purchases an insurance
insurance producer. All of the following are true regarding product from Joe
referrals Mary makes to Joe EXCEPT:
Whether Mary works for Joe or not, the referral compensation shall not depend on
**Mary will only be paid for her referral if the customer whether the customer she refers purchases an insurance product from Joe.
purchases an insurance product from Joe
**Mary may make a referral to Joe; provided that Mary
does not discuss the specific insurance policy terms and
conditions
**If Mary is not employed by Joe, her compensation must
be a fixed dollar amount not to exceed $25 per referral
**If Mary is employed by Joe, her compensation must be a
fixed nominal dollar amount
All money a producer receives for conducting insurance Fiduciary Capacity
business shall be held in a__________.
best describes the penalty the Commissioner will impose The producers license may be denied, suspended or revoked
for mishandling any money that an insurance producer
receives for soliciting, negotiating, or selling insurance?
A producer______ whether or not they have an agency will need a license
contract, agreement or an appointment with an insurer; or
is appointed or employed by a health maintenance
organization (HMO) and who engages in solicitation for
membership in such organization.
All of the following are requirements of an applicant for a **The applicant is at least 21 years of age
license to be approved by the Commissioner EXCEPT:
The applicant need to be 18 years of age. All the other criteria are requirements for
**The applicant must complete the minimum prelicensure approval of the license application.
education requirements
**The applicant has passed the exam and paid the
application fee
**The applicant is at least 21 years of age
**The applicant has not committed any acts that would be
grounds for denial, suspension, or revocation of a license
David would like to appoint Mary as his insurance agent for **David must file with Mary's employer who will determine if Mary is eligible for
the ABC Insurance Company. All of the following are true appointment
regarding that appointment EXCEPT:
David must file the notice appointment with the Commissioner, whose duty it is to
**David must file a notice of appointment within 15 days determine if Mary is eligible for that appointment.
from the date the contract is executed
**David must file with Mary's employer who will determine
if Mary is eligible for appointment
**David and Mary will be notified within 30 days if Mary is
eligible for appointment
**If David wishes to terminate the contract with Mary he
must notify the Commissioner within 30 days of the
effective date of termination
Larry has applied for a nonresident producer license in **The application and procedures for Larry's home state are different from the terms
Tennessee. The Commissioner must issue a license to and procedures in Tennessee.
Larry if all of the following conditions have been met
EXCEPT: The terms of application and procedures for nonresident licensees in Larry's home
state are similar to the terms and procedures in Tennessee.
**The application and procedures for Larry's home state
are different from the terms and procedures in Tennessee.
**Larry is currently licensed and in good standing in the
home state
**Larry has paid a fee
**Larry has submitted an application
A nonresident producer has ___ to file a change of 30 days
address and provide certification from the new resident
state.
EXAM REVIEW
2026-2027
Master Exam Prep Bundle
(Verified Questions & Answers)
A+ Grade Guaranteed
,Steven provided misleading information on his license The insurance Commissioner may refuse to issue Steven a license
application. best fits the penalty the Commissioner might
impose on Steven?
All of following are violations that may lead the insurance **Having been convicted of a misdemeanor
Commissioner to suspend or revoke a license EXCEPT:
** Improperly withholding or misappropriating any property
received in the course of doing insurance business
**Intentionally misrepresenting the terms of an insurance
policy
**Having been convicted of a misdemeanor
**Having an insurance producer license denied,
suspended, or revoked in another jurisdiction
An individual's license can be suspended or revoked if Companies that are not authorized to transact the business of insurance in
they do business with unlicensed individuals and - Tennessee
How many days does the Commissioner have to notify an 30 days
individual that their application for a license is being
denied?
All of the following are duties of the Commissioner **The Commissioner may put a person in jail for violating insurance regulations
EXCEPT:
** The Commissioner may put a person in jail for violating The Commissioner may do all of the above except put a person in jail.
insurance regulations
**The Commissioner may conduct investigations
**The Commissioner may be empowered to subpoena
witnesses and examine them under oath
**The Commissioner may choose to place a person on
probation, suspend, revoke or refuse to issue or renew an
individual's license
Any action by the Commissioner to put on probation, Uniform Administrative Procedures Act
suspend, revoke or deny the renewal of a license is
governed by the _________
Who has the authority to enforce the insurance laws of The Commissioner
Tennessee and impose any penalty or remedy authorized
against any person who is under investigation for or
charged with a violation of insurance laws or regulations?
____________ is a person required to be licensed under A Producer
the laws of this state to sell, solicit or negotiate insurance.
_____________means a person, who sells, solicits or Limited Lines Producerr
negotiates one or more forms of limited line credit
insurance coverage to individuals through a master,
corporate, group or individual policy.
Kevin sold insurance for an insurance company not Kevin will be personally liable
authorized to do business in Tennessee. Who is liable for
any premiums paid for, or valid claims made on, all
contracts of unlawfully sold insurance?
Which of the following answers best describes the The unlicensed individual may not receive any compensation for conducting the
compensation an unlicensed individual may receive from business of insurance if they are required to be licensed for that business
an insurer or insurance producer for conducting insurance
business for which a license is required?
What is the term used to describe the commissions that Renewal or deferred commissions
may be paid to an unlicensed individual who was licensed
at the time of the sale, solicitation or negotiation of
insurance for which they are being paid?
, Mary is an unlicensed individual. Joe is a licensed **Mary will only be paid for her referral if the customer purchases an insurance
insurance producer. All of the following are true regarding product from Joe
referrals Mary makes to Joe EXCEPT:
Whether Mary works for Joe or not, the referral compensation shall not depend on
**Mary will only be paid for her referral if the customer whether the customer she refers purchases an insurance product from Joe.
purchases an insurance product from Joe
**Mary may make a referral to Joe; provided that Mary
does not discuss the specific insurance policy terms and
conditions
**If Mary is not employed by Joe, her compensation must
be a fixed dollar amount not to exceed $25 per referral
**If Mary is employed by Joe, her compensation must be a
fixed nominal dollar amount
All money a producer receives for conducting insurance Fiduciary Capacity
business shall be held in a__________.
best describes the penalty the Commissioner will impose The producers license may be denied, suspended or revoked
for mishandling any money that an insurance producer
receives for soliciting, negotiating, or selling insurance?
A producer______ whether or not they have an agency will need a license
contract, agreement or an appointment with an insurer; or
is appointed or employed by a health maintenance
organization (HMO) and who engages in solicitation for
membership in such organization.
All of the following are requirements of an applicant for a **The applicant is at least 21 years of age
license to be approved by the Commissioner EXCEPT:
The applicant need to be 18 years of age. All the other criteria are requirements for
**The applicant must complete the minimum prelicensure approval of the license application.
education requirements
**The applicant has passed the exam and paid the
application fee
**The applicant is at least 21 years of age
**The applicant has not committed any acts that would be
grounds for denial, suspension, or revocation of a license
David would like to appoint Mary as his insurance agent for **David must file with Mary's employer who will determine if Mary is eligible for
the ABC Insurance Company. All of the following are true appointment
regarding that appointment EXCEPT:
David must file the notice appointment with the Commissioner, whose duty it is to
**David must file a notice of appointment within 15 days determine if Mary is eligible for that appointment.
from the date the contract is executed
**David must file with Mary's employer who will determine
if Mary is eligible for appointment
**David and Mary will be notified within 30 days if Mary is
eligible for appointment
**If David wishes to terminate the contract with Mary he
must notify the Commissioner within 30 days of the
effective date of termination
Larry has applied for a nonresident producer license in **The application and procedures for Larry's home state are different from the terms
Tennessee. The Commissioner must issue a license to and procedures in Tennessee.
Larry if all of the following conditions have been met
EXCEPT: The terms of application and procedures for nonresident licensees in Larry's home
state are similar to the terms and procedures in Tennessee.
**The application and procedures for Larry's home state
are different from the terms and procedures in Tennessee.
**Larry is currently licensed and in good standing in the
home state
**Larry has paid a fee
**Larry has submitted an application
A nonresident producer has ___ to file a change of 30 days
address and provide certification from the new resident
state.
