CISR LIFE & HEALTH EXAM QUESTIONS
& ANSWERS
The first step in understanding the elements of a life insurance contract is being able to:
A) describe the personal and specific reasons people purchase life insurance
B) describe the different parties to a life insurance contract and their relationship -
Correct Answers -B) describe the different parties to a life insurance contract and their
relationship
A policy owner has the power to:
A) Name one or more beneficiaries
B) Change the policy
C) Select dividend options
D) Change ownership of a policy with an absolute assignment of benefits in place -
Correct Answers -A) Name one or more beneficiaries
and
D) Change ownership of a policy with an absolute assignment of benefits in place
Truth or False:
Risk is assessed on both medical and non-medical considerations - Correct Answers -
True
Why do clients give written permission to an insurance professional to obtain personal
medical information from medical providers?
A) Insurance companies require it for their own protection
B) The federal government requires it - Correct Answers -B) The federal government
requires it
Select the term that completes the sentence correctly.
A(n) ___________ beneficiary cannot be removed from a life insurance policy without
the consent of the beneficiary.
A) revocable
B) irrevocable - Correct Answers -B) irrevocable
Select all that apply.
People buy life insurance for various reasons, including:
, A) as a requirement for receiving a bank loan
B) as an incentive for attracting and keeping talented employees
C) as a court-imposed requirement
D) personal and emotional reasons - Correct Answers -A) as a requirement for receiving
a bank loan
B) as an incentive for attracting and keeping talented employees
C) as a court-imposed requirement
D) personal and emotional reasons
Select the term that completes the sentence correctly.
The agreement between the insurer and the applicant that can provide temporary life
insurance coverage until the insurer has issued a policy is called the:
A) Attending Physician Statement (APS)
B) Conditional Receipt
C) Survivorship Clause - Correct Answers -B) Conditional Receipt
Questions on an application for life insurance address which issues?
Select all that apply.
A) past occupations
B) current occupations
C) past medical history
D) current medical history
E) hobbies and sport participation
F) past address
G) present address - Correct Answers -B) current occupations
C) past medical history
D) current medical history
E) hobbies and sport participation
F) past address
G) present address
If an individual is engaged in a hazardous occupation or hobby, or they fail to meet
health requirements for rating categories, the individual is likely to be given what type of
rate?
A) preferred
B) standard
C) substandard - Correct Answers -C) substandard
When considering Whole Life Insurance, the annual cash value growth will equal or
exceed the annual premium in the __ or __ year of a contract.
A) 5th or 10th
B) 10th or 15th
C) 10th or 20th
D) 15th or 20th - Correct Answers -C) 10th or 20th
& ANSWERS
The first step in understanding the elements of a life insurance contract is being able to:
A) describe the personal and specific reasons people purchase life insurance
B) describe the different parties to a life insurance contract and their relationship -
Correct Answers -B) describe the different parties to a life insurance contract and their
relationship
A policy owner has the power to:
A) Name one or more beneficiaries
B) Change the policy
C) Select dividend options
D) Change ownership of a policy with an absolute assignment of benefits in place -
Correct Answers -A) Name one or more beneficiaries
and
D) Change ownership of a policy with an absolute assignment of benefits in place
Truth or False:
Risk is assessed on both medical and non-medical considerations - Correct Answers -
True
Why do clients give written permission to an insurance professional to obtain personal
medical information from medical providers?
A) Insurance companies require it for their own protection
B) The federal government requires it - Correct Answers -B) The federal government
requires it
Select the term that completes the sentence correctly.
A(n) ___________ beneficiary cannot be removed from a life insurance policy without
the consent of the beneficiary.
A) revocable
B) irrevocable - Correct Answers -B) irrevocable
Select all that apply.
People buy life insurance for various reasons, including:
, A) as a requirement for receiving a bank loan
B) as an incentive for attracting and keeping talented employees
C) as a court-imposed requirement
D) personal and emotional reasons - Correct Answers -A) as a requirement for receiving
a bank loan
B) as an incentive for attracting and keeping talented employees
C) as a court-imposed requirement
D) personal and emotional reasons
Select the term that completes the sentence correctly.
The agreement between the insurer and the applicant that can provide temporary life
insurance coverage until the insurer has issued a policy is called the:
A) Attending Physician Statement (APS)
B) Conditional Receipt
C) Survivorship Clause - Correct Answers -B) Conditional Receipt
Questions on an application for life insurance address which issues?
Select all that apply.
A) past occupations
B) current occupations
C) past medical history
D) current medical history
E) hobbies and sport participation
F) past address
G) present address - Correct Answers -B) current occupations
C) past medical history
D) current medical history
E) hobbies and sport participation
F) past address
G) present address
If an individual is engaged in a hazardous occupation or hobby, or they fail to meet
health requirements for rating categories, the individual is likely to be given what type of
rate?
A) preferred
B) standard
C) substandard - Correct Answers -C) substandard
When considering Whole Life Insurance, the annual cash value growth will equal or
exceed the annual premium in the __ or __ year of a contract.
A) 5th or 10th
B) 10th or 15th
C) 10th or 20th
D) 15th or 20th - Correct Answers -C) 10th or 20th
