TENNESSEE LIFE AND HEALTH FINAL
EXAM 2024/2025
Major medical policies typically - Precise Answer ✔✔contain a
deductible and coinsurance
The reason for backdating a policy is - Precise Answer ✔✔to obtain a
premium rate based on an earlier age
Any changes made on an insurance application requires the initials of
whom? - Precise Answer ✔✔applicant
which of these is NOT a reason for purchasing life insurance on the life
of a minor - Precise Answer ✔✔If both parents were to die, it would
provide death benefits to the child
On a life insurance policy, who is qualified to change the beneficiary
designation - Precise Answer ✔✔Policyowner
All of these insurance subjects qualify for continuing education credits
in Tennessee EXCEPT - Precise Answer ✔✔motivating producers
P's individual Health policy is now in the grace period. P's coverage will
remain in force if - Precise Answer ✔✔the premium is paid
,which of the following is the purpose of the Tennessee guaranty
Association - Precise Answer ✔✔all of the above
D is the policy owner and insured for a $50,000 life Insurance policy.
The beneficiary is D's wife. D and His wife divorce and D remarries,
transferring the ownership of his policy to his new wife. If D dies
without making any further changes, to whom with the policy proceeds
be paid to - Precise Answer ✔✔ex-wife
all of these statements concerning settlement options are true, except -
Precise Answer ✔✔Only the beneficiary may select
A producer MUST leave a buyer's guide with an applicant for which
type of policy? - Precise Answer ✔✔universal life insurance
Which factors are taken into consideration when an insurance company
determines the premium rate for a whole life policy on an applicant -
Precise Answer ✔✔Risk classification
Which of the following does Social Security not provide benefits for -
Precise Answer ✔✔dismemberment
Which of the following is the reimbursement of benefits for the
treatment of the beneficiary's injuries caused by a third-party - Precise
Answer ✔✔subrogation
, T has Disability Income policy that pays a monthly benefit of $5000. If
T becomes partially disabled, what can he likely expect? - Precise
Answer ✔✔Less than $5,000 per month benefit regardless of the cause
Variable Whole Life Insurance can be described as - Precise Answer
✔✔both an insurance and securities product
The annuity that represents the largest possible monthly payment to an
individual annuitant is a(n) - Precise Answer ✔✔Straight Life annuity
When does the free-look provision for health insurance begin - Precise
Answer ✔✔date the policy is delivered to the insured
The combination of whole life and _______ Term insurance as referred
to as a family income policy - Precise Answer ✔✔decreasing
The notice of claim's provision requires a policy owner to - Precise
Answer ✔✔notifying insurer of the claim within a specific time
Expires a $10,000 whole life policy in 2003 and pays an anyone
premium of $100. S dies five years later in 2008 and ensure pays the
beneficiary $10,500. What kind of rider did S include on the policy -
Precise Answer ✔✔Return of premium rider
EXAM 2024/2025
Major medical policies typically - Precise Answer ✔✔contain a
deductible and coinsurance
The reason for backdating a policy is - Precise Answer ✔✔to obtain a
premium rate based on an earlier age
Any changes made on an insurance application requires the initials of
whom? - Precise Answer ✔✔applicant
which of these is NOT a reason for purchasing life insurance on the life
of a minor - Precise Answer ✔✔If both parents were to die, it would
provide death benefits to the child
On a life insurance policy, who is qualified to change the beneficiary
designation - Precise Answer ✔✔Policyowner
All of these insurance subjects qualify for continuing education credits
in Tennessee EXCEPT - Precise Answer ✔✔motivating producers
P's individual Health policy is now in the grace period. P's coverage will
remain in force if - Precise Answer ✔✔the premium is paid
,which of the following is the purpose of the Tennessee guaranty
Association - Precise Answer ✔✔all of the above
D is the policy owner and insured for a $50,000 life Insurance policy.
The beneficiary is D's wife. D and His wife divorce and D remarries,
transferring the ownership of his policy to his new wife. If D dies
without making any further changes, to whom with the policy proceeds
be paid to - Precise Answer ✔✔ex-wife
all of these statements concerning settlement options are true, except -
Precise Answer ✔✔Only the beneficiary may select
A producer MUST leave a buyer's guide with an applicant for which
type of policy? - Precise Answer ✔✔universal life insurance
Which factors are taken into consideration when an insurance company
determines the premium rate for a whole life policy on an applicant -
Precise Answer ✔✔Risk classification
Which of the following does Social Security not provide benefits for -
Precise Answer ✔✔dismemberment
Which of the following is the reimbursement of benefits for the
treatment of the beneficiary's injuries caused by a third-party - Precise
Answer ✔✔subrogation
, T has Disability Income policy that pays a monthly benefit of $5000. If
T becomes partially disabled, what can he likely expect? - Precise
Answer ✔✔Less than $5,000 per month benefit regardless of the cause
Variable Whole Life Insurance can be described as - Precise Answer
✔✔both an insurance and securities product
The annuity that represents the largest possible monthly payment to an
individual annuitant is a(n) - Precise Answer ✔✔Straight Life annuity
When does the free-look provision for health insurance begin - Precise
Answer ✔✔date the policy is delivered to the insured
The combination of whole life and _______ Term insurance as referred
to as a family income policy - Precise Answer ✔✔decreasing
The notice of claim's provision requires a policy owner to - Precise
Answer ✔✔notifying insurer of the claim within a specific time
Expires a $10,000 whole life policy in 2003 and pays an anyone
premium of $100. S dies five years later in 2008 and ensure pays the
beneficiary $10,500. What kind of rider did S include on the policy -
Precise Answer ✔✔Return of premium rider
