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KANSAS LIFE & HEALTH INSURANCE
FINAL EXAM QUESTIONS WITH
VERIFIED SOLUTIONS
When can a policy owner change a revocable beneficiary? - correct-answer -
Anytime
J would like to maintain the right to change beneficiaries. Which beneficiary
designation should be used? - correct-answer - Revocable
M purchased an Accidental Death and Dismemberment (AD&D) policy and named
his son as beneficiary. M has the right to change the beneficiary designation at
anytime. What type of beneficiary is his son? - correct-answer - Revocable
Beneficiary
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revocable beneficiary - correct-answer - the policy owner may change the
beneficiary at any time without notifying or getting permission from the
beneficiary.
K is the insured and P is the sole beneficiary on a life insurance policy. Both are
involved in a fatal accident where K dies before P. Under the Common Disaster
provision, which of these statements is true? - correct-answer - Proceeds will be
paid to K's estate if P dies within a specified time
How would a contingent beneficiary receive the policy proceeds in an Accidental
Death and Dismemberment (AD&D) policy? - correct-answer - If the primary
beneficiary dies before the insured
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Which statement is true regarding a minor beneficiary - correct-answer -
Normally, a guardian is required to be appointed in the Beneficiary clause of the
contract
A life insurance application must be signed by all of these EXCEPT - correct-answer
- Beneficiaries are not required to sign an insurance application
K applies for a life insurance policy on herself and submits the initial premium
with the application. She is given a receipt by the agent stating that coverage
begins immediately if the application is approved. What kind of receipt was used?
- correct-answer - A conditional receipt indicates that certain conditions must be
met in order for the insurance coverage to go into effect.
P is a producer who notices 5 questions on a life application were not answered.
What actions should P take? - correct-answer - Schedule another appointment
with the applicant to complete the unanswered questions
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M completes an application for life insurance but does not pay the initial
premium. All of these actions must occur before M's policy goes into effect
EXCEPT - correct-answer - Free-look period has expired
An applicant's medical information received from the Medical Information Bureau
(MIB) may be furnished to the - correct-answer - Applicant's physician
On August 6, D submitted an application for a $50,000 Life Insurance policy and
did not pay the initial premium. On August 18, D went to his doctor complaining
of chest pains and some tests were given by the doctor. The life policy was
delivered by the producer on August 20 and D explains what had recently taken
place with the doctor. What action should the producer then take? - correct-
answer - Collect initial premium along with a signed health statement
KANSAS LIFE & HEALTH INSURANCE
FINAL EXAM QUESTIONS WITH
VERIFIED SOLUTIONS
When can a policy owner change a revocable beneficiary? - correct-answer -
Anytime
J would like to maintain the right to change beneficiaries. Which beneficiary
designation should be used? - correct-answer - Revocable
M purchased an Accidental Death and Dismemberment (AD&D) policy and named
his son as beneficiary. M has the right to change the beneficiary designation at
anytime. What type of beneficiary is his son? - correct-answer - Revocable
Beneficiary
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revocable beneficiary - correct-answer - the policy owner may change the
beneficiary at any time without notifying or getting permission from the
beneficiary.
K is the insured and P is the sole beneficiary on a life insurance policy. Both are
involved in a fatal accident where K dies before P. Under the Common Disaster
provision, which of these statements is true? - correct-answer - Proceeds will be
paid to K's estate if P dies within a specified time
How would a contingent beneficiary receive the policy proceeds in an Accidental
Death and Dismemberment (AD&D) policy? - correct-answer - If the primary
beneficiary dies before the insured
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Which statement is true regarding a minor beneficiary - correct-answer -
Normally, a guardian is required to be appointed in the Beneficiary clause of the
contract
A life insurance application must be signed by all of these EXCEPT - correct-answer
- Beneficiaries are not required to sign an insurance application
K applies for a life insurance policy on herself and submits the initial premium
with the application. She is given a receipt by the agent stating that coverage
begins immediately if the application is approved. What kind of receipt was used?
- correct-answer - A conditional receipt indicates that certain conditions must be
met in order for the insurance coverage to go into effect.
P is a producer who notices 5 questions on a life application were not answered.
What actions should P take? - correct-answer - Schedule another appointment
with the applicant to complete the unanswered questions
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M completes an application for life insurance but does not pay the initial
premium. All of these actions must occur before M's policy goes into effect
EXCEPT - correct-answer - Free-look period has expired
An applicant's medical information received from the Medical Information Bureau
(MIB) may be furnished to the - correct-answer - Applicant's physician
On August 6, D submitted an application for a $50,000 Life Insurance policy and
did not pay the initial premium. On August 18, D went to his doctor complaining
of chest pains and some tests were given by the doctor. The life policy was
delivered by the producer on August 20 and D explains what had recently taken
place with the doctor. What action should the producer then take? - correct-
answer - Collect initial premium along with a signed health statement
