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WASHINGTON LIFE/HEALTH INSURANCE EXAM
2025 | COMPREHENSIVE Q&A FOR
GUARANTEED PASS
policy owner - correct-answer-usually, but not always the person covered by the
policy
beneficiary - correct-answer-the person who is paid when a claim
is submitted
agent/producer - correct-answer-acts as a legal representative
of the insurance company
broker - correct-answer-representative of the Insured, not the insurance company
Consideration Clause - correct-answer-states that the Insured gives 2 items
of consideration:
• the premium; and
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• the statements made in the application.
Entire Contract Clause - correct-answer-the policy consists of only:
• the policy, and
• the attached application
No promises by commercials, agents or anything else count
Free look clause - correct-answer-giving Insureds at least 10 days after delivery of
the
policy to review the policy and terminate coverage.
Policies
sold to the elderly (Medicare Supplement and Long Term Care)
must have a 30 day Free Look Clause.
Grace period clause - correct-answer-31 day grace period on premium payments.
The company may charge interest on late payments
Contestable clause - correct-answer-• after the first 2 years,
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• an honest mistake is incontestable by the Insurer;
• fraud is incontestable by Life Insurers and
Group Health Insurers; but
• fraud remains contestable forever by Individual Health
Insurers
Reinstatement Clause - correct-answer-prohibits the Insurer from charging a
reinstatement fee
Within the time limits provided by state law, I may reinstate if I:
• submit a reinstatement application within three years (which triggers a new
incontestable period on statements in the new application);
• pay any outstanding policy loans (if the Life policy
permitted policy loans);
• pay missed premiums plus interest; and
• provide proof of insurability
Time Limit on Lawsuits Clause - correct-answer-After submitting the claim, the
Insured must wait 60 days prior
to filing any lawsuit. And any lawsuit must be filed within 3 years
- this time limit is also referred to as a Statute of Limitations
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Principal sum - correct-answer-policy will pay
as a lump sum the face value of the policy
Multiple Indemnity Rider - correct-answer-provides for a Life policy to
pay a specified multiple of the face value if the Insured dies as a
result of an accident
the death cannot be
attributed to a sickness and the death must occur within 90 days
Primary
Beneficiary - correct-answer-The primary beneficiary is first in line. If
the primary beneficiary is alive at the time the Insured dies, the
primary beneficiary will receive the entire death benefit. But, if
the primary beneficiary dies before the Insured, the death benefit is paid to the
Insured's estate.
Contingent Secondary Beneficiary - correct-answer-A Contingent (second or
tertiary) Beneficiary is an individual who will receive the death
WASHINGTON LIFE/HEALTH INSURANCE EXAM
2025 | COMPREHENSIVE Q&A FOR
GUARANTEED PASS
policy owner - correct-answer-usually, but not always the person covered by the
policy
beneficiary - correct-answer-the person who is paid when a claim
is submitted
agent/producer - correct-answer-acts as a legal representative
of the insurance company
broker - correct-answer-representative of the Insured, not the insurance company
Consideration Clause - correct-answer-states that the Insured gives 2 items
of consideration:
• the premium; and
,2|Page
• the statements made in the application.
Entire Contract Clause - correct-answer-the policy consists of only:
• the policy, and
• the attached application
No promises by commercials, agents or anything else count
Free look clause - correct-answer-giving Insureds at least 10 days after delivery of
the
policy to review the policy and terminate coverage.
Policies
sold to the elderly (Medicare Supplement and Long Term Care)
must have a 30 day Free Look Clause.
Grace period clause - correct-answer-31 day grace period on premium payments.
The company may charge interest on late payments
Contestable clause - correct-answer-• after the first 2 years,
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• an honest mistake is incontestable by the Insurer;
• fraud is incontestable by Life Insurers and
Group Health Insurers; but
• fraud remains contestable forever by Individual Health
Insurers
Reinstatement Clause - correct-answer-prohibits the Insurer from charging a
reinstatement fee
Within the time limits provided by state law, I may reinstate if I:
• submit a reinstatement application within three years (which triggers a new
incontestable period on statements in the new application);
• pay any outstanding policy loans (if the Life policy
permitted policy loans);
• pay missed premiums plus interest; and
• provide proof of insurability
Time Limit on Lawsuits Clause - correct-answer-After submitting the claim, the
Insured must wait 60 days prior
to filing any lawsuit. And any lawsuit must be filed within 3 years
- this time limit is also referred to as a Statute of Limitations
, 4|Page
Principal sum - correct-answer-policy will pay
as a lump sum the face value of the policy
Multiple Indemnity Rider - correct-answer-provides for a Life policy to
pay a specified multiple of the face value if the Insured dies as a
result of an accident
the death cannot be
attributed to a sickness and the death must occur within 90 days
Primary
Beneficiary - correct-answer-The primary beneficiary is first in line. If
the primary beneficiary is alive at the time the Insured dies, the
primary beneficiary will receive the entire death benefit. But, if
the primary beneficiary dies before the Insured, the death benefit is paid to the
Insured's estate.
Contingent Secondary Beneficiary - correct-answer-A Contingent (second or
tertiary) Beneficiary is an individual who will receive the death
