Hawaii Life and Health Final Exam
Questions and Correct Answers
Question 1
Which of the following is considered to be the time period after a Health policy is
issued, during which no benefits are provided for illness?
1. Incontestable period
2. Probationary period
3. Trial period
4. Subrogation period
Correct Answer
2. Probationary period
Question 2
Which of the following actions require a policyowner to provide proof of insurability
in an Adjustable Life Policy?
1. increase face amount
2. decrease face amount
3. increase premium paying period
4. decrease premium payment
Correct Answer
increase face amount
Page 1 of 29
,Question 3
Which of these types of policies may NOT have the Automatic Premium Loan
provision attached to it?
1. Modified whole life
2. 20 pay life
3. decreasing term
4. endownment
Correct Answer
Decreasing term
Question 4
All of these Settlement options involve the systematic liquidation of the death
proceeds in the event of the insured's death EXCEPT
1. Fixed period
2. Interest only
3. fixed amount
4. life income
Correct Answer
2. Interest only
Question 5
Which of the following will a long term care plan typically provide benefits for?
1. disability income
2. death
3. unemployment
4. home health care
Correct Answer
4. home health care
Page 2 of 29
, Question 6
Which of these terms accurately defines an underwriter's assessment of information
on a life insurance application?
1. risk classification
2. warranty review
3. insurable interest
4. inspection report
Correct Answer
Risk classification
underwriting is another term for risk selection
Question 7
Credit life insurance is typically issued with which of the following types of coverage?
1. Annual renewable term
2. Decreasing term
3. Individual whole life
4. Group term
Correct Answer
Decreasing term
Question 8
S is employed by a large corporation that provides group health coverage for its
employees and their dependents. If S dies, the company must allow his surviving
spouse and dependents to continue their group health coverage for a maximum of
how many months under COBRA regulations?
1. 36
2. 18
3. 15
4. 6
Correct Answer
36
Page 3 of 29
Questions and Correct Answers
Question 1
Which of the following is considered to be the time period after a Health policy is
issued, during which no benefits are provided for illness?
1. Incontestable period
2. Probationary period
3. Trial period
4. Subrogation period
Correct Answer
2. Probationary period
Question 2
Which of the following actions require a policyowner to provide proof of insurability
in an Adjustable Life Policy?
1. increase face amount
2. decrease face amount
3. increase premium paying period
4. decrease premium payment
Correct Answer
increase face amount
Page 1 of 29
,Question 3
Which of these types of policies may NOT have the Automatic Premium Loan
provision attached to it?
1. Modified whole life
2. 20 pay life
3. decreasing term
4. endownment
Correct Answer
Decreasing term
Question 4
All of these Settlement options involve the systematic liquidation of the death
proceeds in the event of the insured's death EXCEPT
1. Fixed period
2. Interest only
3. fixed amount
4. life income
Correct Answer
2. Interest only
Question 5
Which of the following will a long term care plan typically provide benefits for?
1. disability income
2. death
3. unemployment
4. home health care
Correct Answer
4. home health care
Page 2 of 29
, Question 6
Which of these terms accurately defines an underwriter's assessment of information
on a life insurance application?
1. risk classification
2. warranty review
3. insurable interest
4. inspection report
Correct Answer
Risk classification
underwriting is another term for risk selection
Question 7
Credit life insurance is typically issued with which of the following types of coverage?
1. Annual renewable term
2. Decreasing term
3. Individual whole life
4. Group term
Correct Answer
Decreasing term
Question 8
S is employed by a large corporation that provides group health coverage for its
employees and their dependents. If S dies, the company must allow his surviving
spouse and dependents to continue their group health coverage for a maximum of
how many months under COBRA regulations?
1. 36
2. 18
3. 15
4. 6
Correct Answer
36
Page 3 of 29
