DC life insurance practice EXAM 2025
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what are managed care organizations - CORRECT ANSWERS Post-of-service plan (POS)
Preferred provider organization (PPO)
Health Maintenance Organization (HMO)
what is NOT a managed care organziation - CORRECT ANSWERS Medical information bureau
(MIB)
Many small business owners worry how heir business would survive finanicially if the owner becomes
disabled. The policy that BEST addresses this concern is: - CORRECT ANSWERS Business
Overhead Expense policy
A policyowner's rights are limited under which beneficiary designation? - CORRECT ANSWERS
irrevocable
A pliot applies for Life insurance. The insurer approves the application with a $10 application monthly
premium modification due to he risk involved. The pilot declines the additional premium modifcation.
The insurer ill likely issue the coverage with an? - CORRECT ANSWERS Aviation Exclusion
For which of the folllowing does basic hospital policy pay? - CORRECT ANSWERS Hospital room
and board
___ Is the act of replacing existing life insurance with a new life policy based upon misrepresentation? -
CORRECT ANSWERS Twisting
How would a contigent beneficiary receive the policy proceeds in an accidental death and
dismemberment (AD&D) policy? - CORRECT ANSWERS If the primary beneficary dies before
the insured
A life insurance application can be rejected on the basis of all these factors - CORRECT ANSWERS
Medical History, Hobbies, and weight
A life insurance application CANNOT be rejected on the basis of this factor - CORRECT ANSWERS
Gender
Which organization makes reimbursement payments directly to the insured individual for covered
medical expenditures? - CORRECT ANSWERS Commercial insurer
Which Life insurance policy combine Term insurance with an investment element - CORRECT ANSWERS
Universal life policy
Who issues Medicare Supplement policies - CORRECT ANSWERS Insurance companies
, DC requires that an insurance producer must complete ____ hours of continuing eduacrtion every 24
months - CORRECT ANSWERS 24 hours
If a producer changes his residence address, the commissioner must be notified within: - CORRECT
ANSWERS 30 days
D is an architect receiving Disability Income benefits who is not able to return to work full time, but can
work on a part-time basis. Which feature (clause) would allow D to continue receiving benefits? -
CORRECT ANSWERS residual benefit clause
A primary beneficiary has died before the insured in a life insurance policy. A contingent beneficiary is
also named in the policy. What will happen when the insured dies? - CORRECT ANSWERS
Proceeds will go to the contingent beneficiary
The consideration clause in a life insurance contract contains what information? - CORRECT ANSWERS
Amount of premium payments and when they are done
E and F are business partners, each take out 500k life insurance policy on the other, naming himself as
primary beneficiary. E and F eventually terminate their business and four months later E dies. Although E
was married with three children at the time of death, the primary beneficiary is still F. However, an
insurable interest no longer exists. Where will proceeds from E's life insurance policy be directed to? -
CORRECT ANSWERS F
The most important factor to consider when determining whether to convert term insurance at the
insured's attained age or the insured's original age is: - CORRECT ANSWERS The cost
a license may be revoked, suspended, or denied if the licensee... - CORRECT ANSWERS is found
guilty of misrepresentation in obtaining the license
The insuring clause - CORRECT ANSWERS It states the scope and limits of the coverage
A policyowner wants to change the beneficiary on a life insurance policy and make the change
permanent. What type of of designation would fulfill this need? - CORRECT ANSWERS
Irrevocable
A major medical policy typically... - CORRECT ANSWERS provides benefits for reasonable and
necessary medical expenses, subject to policy limits
The consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers (and their families) whose
employment as been terminated the right to: - CORRECT ANSWERS CONTINUE group health
benefits
Which of the following policy provisions prohibits an insurance company from incorporating external
documents into an insurance policy? - CORRECT ANSWERS The entire contract
J is 35 years old and looking to purchase a whole life insurance policy. what type of policy will provide
the most rapid growth of cash value - CORRECT ANSWERS 20-pay life
UPDATE Verified Questions And Answers |
Guaranteed Success!!
what are managed care organizations - CORRECT ANSWERS Post-of-service plan (POS)
Preferred provider organization (PPO)
Health Maintenance Organization (HMO)
what is NOT a managed care organziation - CORRECT ANSWERS Medical information bureau
(MIB)
Many small business owners worry how heir business would survive finanicially if the owner becomes
disabled. The policy that BEST addresses this concern is: - CORRECT ANSWERS Business
Overhead Expense policy
A policyowner's rights are limited under which beneficiary designation? - CORRECT ANSWERS
irrevocable
A pliot applies for Life insurance. The insurer approves the application with a $10 application monthly
premium modification due to he risk involved. The pilot declines the additional premium modifcation.
The insurer ill likely issue the coverage with an? - CORRECT ANSWERS Aviation Exclusion
For which of the folllowing does basic hospital policy pay? - CORRECT ANSWERS Hospital room
and board
___ Is the act of replacing existing life insurance with a new life policy based upon misrepresentation? -
CORRECT ANSWERS Twisting
How would a contigent beneficiary receive the policy proceeds in an accidental death and
dismemberment (AD&D) policy? - CORRECT ANSWERS If the primary beneficary dies before
the insured
A life insurance application can be rejected on the basis of all these factors - CORRECT ANSWERS
Medical History, Hobbies, and weight
A life insurance application CANNOT be rejected on the basis of this factor - CORRECT ANSWERS
Gender
Which organization makes reimbursement payments directly to the insured individual for covered
medical expenditures? - CORRECT ANSWERS Commercial insurer
Which Life insurance policy combine Term insurance with an investment element - CORRECT ANSWERS
Universal life policy
Who issues Medicare Supplement policies - CORRECT ANSWERS Insurance companies
, DC requires that an insurance producer must complete ____ hours of continuing eduacrtion every 24
months - CORRECT ANSWERS 24 hours
If a producer changes his residence address, the commissioner must be notified within: - CORRECT
ANSWERS 30 days
D is an architect receiving Disability Income benefits who is not able to return to work full time, but can
work on a part-time basis. Which feature (clause) would allow D to continue receiving benefits? -
CORRECT ANSWERS residual benefit clause
A primary beneficiary has died before the insured in a life insurance policy. A contingent beneficiary is
also named in the policy. What will happen when the insured dies? - CORRECT ANSWERS
Proceeds will go to the contingent beneficiary
The consideration clause in a life insurance contract contains what information? - CORRECT ANSWERS
Amount of premium payments and when they are done
E and F are business partners, each take out 500k life insurance policy on the other, naming himself as
primary beneficiary. E and F eventually terminate their business and four months later E dies. Although E
was married with three children at the time of death, the primary beneficiary is still F. However, an
insurable interest no longer exists. Where will proceeds from E's life insurance policy be directed to? -
CORRECT ANSWERS F
The most important factor to consider when determining whether to convert term insurance at the
insured's attained age or the insured's original age is: - CORRECT ANSWERS The cost
a license may be revoked, suspended, or denied if the licensee... - CORRECT ANSWERS is found
guilty of misrepresentation in obtaining the license
The insuring clause - CORRECT ANSWERS It states the scope and limits of the coverage
A policyowner wants to change the beneficiary on a life insurance policy and make the change
permanent. What type of of designation would fulfill this need? - CORRECT ANSWERS
Irrevocable
A major medical policy typically... - CORRECT ANSWERS provides benefits for reasonable and
necessary medical expenses, subject to policy limits
The consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers (and their families) whose
employment as been terminated the right to: - CORRECT ANSWERS CONTINUE group health
benefits
Which of the following policy provisions prohibits an insurance company from incorporating external
documents into an insurance policy? - CORRECT ANSWERS The entire contract
J is 35 years old and looking to purchase a whole life insurance policy. what type of policy will provide
the most rapid growth of cash value - CORRECT ANSWERS 20-pay life
