CONNECTICUT LIFE AND HEALTH
INSURANCE PRACTICE EXAM WITH
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST 2025 ALREADY GRADED A+
An accident and health insurance policy's premium requirements are set forth in
which of the following provisions? - ANSWERS-Consideration clause.
A producer MUST notify the Commissioner for - ANSWERS-conducting business
under an assumed name.
What determines how much an annuitant is paid for a variable annuity? -
ANSWERS-The market value variations of the securities backing it. The amount
of each variable annuity benefit paid to an annuitant varies according to the
market value of the securities backing it.
A producer sold a life insurance policy but did NOT provide the applicant with a
basic illustration. In this situation, the insurer is REQUIRED to provide the
,applicant with a policy summary no later than the - ANSWERS-Policy delivery
date.
Which of the following statements accurately describes the "time limit on
certain defenses"? - ANSWERS-After a stated period of time, claims cannot be
denied due to material misrepresentation on the application. Time limit on
certain defense provision limits the time an insurer can void a contract or deny a
claim for material misrepresentation on the application.
During the application process, a statement made by an applicant that becomes
part of the contract is considered to be a(n) - ANSWERS-Warranty. a statement
made by the applicant that is guaranteed to be true in every respect and
becomes part of the contract.
A policyowner pays the first annual premium for a $50,000 life insurance policy
and dies one month after the policy effective date. Which of these statements is
normally true? - ANSWERS-Beneficiary receives $50,000 income tax-free.
A life insurance policy provision that has the ability to reduce the death benefit
is called the - ANSWERS-Accelerated (living) benefit. Whatever amount is
withdrawn from an accelerated benefit will be deducted from the face amount
when death occurs.
An officer for a corporation takes out numerous unsecured loans from the
company's qualified retirement plan. Which of these rules is the plan in
violation of? - ANSWERS-Exclusive benefit rule. The assets held in a company's
, qualified retirement plan must be maintained for the exclusive benefit of the
employees and their beneficiaries.
A source of supplemental income for a life insurance policyowner can be
derived from the - ANSWERS-Cash value. Cash value may be used as a source to
supplement a policyowner's income.
Purchasing insurance is an example of risk - ANSWERS-Transference. Purchasing
insurance is an example of risk transference.
Which statement best describes a single premium whole life policy? - ANSWERS-
Paid-up policy that offers lifetime protection. A single premium whole life policy
provides protection for life as a paid-up policy.
Which of the following situations would allow funds to be deposited into a
rollover IRA? - ANSWERS-An employee quits her job and receives $50,000 from
her qualified plan.
Medical costs in birthing centers are lowered by using - ANSWERS-Certified
nurse midwives. Birthing centers reduce medical costs through the use of
certified nurse midwives.
What is a a "functional assessment" for long-term care benefits? - ANSWERS-A
review of the insured's ability to perform the activities of daily living. A
"functional assessment" determines the insured's ability to perform the
activities of daily living (ADLs)
INSURANCE PRACTICE EXAM WITH
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST 2025 ALREADY GRADED A+
An accident and health insurance policy's premium requirements are set forth in
which of the following provisions? - ANSWERS-Consideration clause.
A producer MUST notify the Commissioner for - ANSWERS-conducting business
under an assumed name.
What determines how much an annuitant is paid for a variable annuity? -
ANSWERS-The market value variations of the securities backing it. The amount
of each variable annuity benefit paid to an annuitant varies according to the
market value of the securities backing it.
A producer sold a life insurance policy but did NOT provide the applicant with a
basic illustration. In this situation, the insurer is REQUIRED to provide the
,applicant with a policy summary no later than the - ANSWERS-Policy delivery
date.
Which of the following statements accurately describes the "time limit on
certain defenses"? - ANSWERS-After a stated period of time, claims cannot be
denied due to material misrepresentation on the application. Time limit on
certain defense provision limits the time an insurer can void a contract or deny a
claim for material misrepresentation on the application.
During the application process, a statement made by an applicant that becomes
part of the contract is considered to be a(n) - ANSWERS-Warranty. a statement
made by the applicant that is guaranteed to be true in every respect and
becomes part of the contract.
A policyowner pays the first annual premium for a $50,000 life insurance policy
and dies one month after the policy effective date. Which of these statements is
normally true? - ANSWERS-Beneficiary receives $50,000 income tax-free.
A life insurance policy provision that has the ability to reduce the death benefit
is called the - ANSWERS-Accelerated (living) benefit. Whatever amount is
withdrawn from an accelerated benefit will be deducted from the face amount
when death occurs.
An officer for a corporation takes out numerous unsecured loans from the
company's qualified retirement plan. Which of these rules is the plan in
violation of? - ANSWERS-Exclusive benefit rule. The assets held in a company's
, qualified retirement plan must be maintained for the exclusive benefit of the
employees and their beneficiaries.
A source of supplemental income for a life insurance policyowner can be
derived from the - ANSWERS-Cash value. Cash value may be used as a source to
supplement a policyowner's income.
Purchasing insurance is an example of risk - ANSWERS-Transference. Purchasing
insurance is an example of risk transference.
Which statement best describes a single premium whole life policy? - ANSWERS-
Paid-up policy that offers lifetime protection. A single premium whole life policy
provides protection for life as a paid-up policy.
Which of the following situations would allow funds to be deposited into a
rollover IRA? - ANSWERS-An employee quits her job and receives $50,000 from
her qualified plan.
Medical costs in birthing centers are lowered by using - ANSWERS-Certified
nurse midwives. Birthing centers reduce medical costs through the use of
certified nurse midwives.
What is a a "functional assessment" for long-term care benefits? - ANSWERS-A
review of the insured's ability to perform the activities of daily living. A
"functional assessment" determines the insured's ability to perform the
activities of daily living (ADLs)
