DELAWARE LIFE INSURANCE Exam
Questions And 100% Verified Answers
|Latest 2025/ 2026 Update | Graded A+
a producer who fails to segregate premium monies from his own
personal funds is guilty of - CORRECT ANSWER-commingling
which of the following fulfills the fiduciary relationship between a
person and brokerage, authorizing the brokerage to act as the
producer? - CORRECT ANSWER-agency
an insurance agent's responsibilities include all fo the following except -
CORRECT ANSWER-represent the client
the commissioner may hod a hearing - CORRECT ANSWER-with or
without a request by other for any purpose
,in group life insurance, which of the following is true regarding coverage
for family member or dependents? - CORRECT ANSWER-coverage may
be limited or excluded based on evidence of insurability
ann misstate her age on her insurance application, stating that she is 8
years older than she actually is. Which of the following is true -
CORRECT ANSWER-the amount of the benefit will be adjusted according
to what the premium would have purchased as the correct age
if each of the following amounts were ranked in order of highest to
lowest, which must be ranked first? - CORRECT ANSWER-the amount of
credit life owed to the creditor
if an applicant's license is denied, and the applicant wishes to appeal
the decision, how many days does the applicant have to request a
hearing - CORRECT ANSWER-10 days
which of the following is an example of a producer being involved in an
unfair trade practice of rebating? - CORRECT ANSWER-telling a client
,that his first premium will be waived if he purchased the insurance
policy today.
how long does a licensee have to notify the commissioner of any
change in address? - CORRECT ANSWER-30 days
an insurer is on the verge of bankruptcy and can no longer pay the
claims to its insureds. Which of the following will make sure that the
insureds receive their money? - CORRECT ANSWER-the Delaware life
and health insurance guaranty association
a policy that has which of the following features would not be
considered a prohibited policy? - CORRECT ANSWER-dividends on
participating policies
which of the following would be included in a buyer's guide - CORRECT
ANSWER-general explanation of advatnages and drawbacks to a type of
policy
, an annuity contract will be incontestable after it has been in force for a
period of how many years from the date of issue - CORRECT ANSWER-2
year
two individuals are in the same risk and age class; yet, they are charged
different rates for their insurance policies due to an insignificant factor.
what is this called? - CORRECT ANSWER-discrimination
which of the following statements does not describe credit life
insurance? - CORRECT ANSWER-credit life is written as increasing term
insurance
which of the following best describes a misrepresentation - CORRECT
ANSWER-issuing sales material with exaggerated statements about
policy benefits
the maximum interest rate that can be charged on a policy loan is -
CORRECT ANSWER-8% per year
Questions And 100% Verified Answers
|Latest 2025/ 2026 Update | Graded A+
a producer who fails to segregate premium monies from his own
personal funds is guilty of - CORRECT ANSWER-commingling
which of the following fulfills the fiduciary relationship between a
person and brokerage, authorizing the brokerage to act as the
producer? - CORRECT ANSWER-agency
an insurance agent's responsibilities include all fo the following except -
CORRECT ANSWER-represent the client
the commissioner may hod a hearing - CORRECT ANSWER-with or
without a request by other for any purpose
,in group life insurance, which of the following is true regarding coverage
for family member or dependents? - CORRECT ANSWER-coverage may
be limited or excluded based on evidence of insurability
ann misstate her age on her insurance application, stating that she is 8
years older than she actually is. Which of the following is true -
CORRECT ANSWER-the amount of the benefit will be adjusted according
to what the premium would have purchased as the correct age
if each of the following amounts were ranked in order of highest to
lowest, which must be ranked first? - CORRECT ANSWER-the amount of
credit life owed to the creditor
if an applicant's license is denied, and the applicant wishes to appeal
the decision, how many days does the applicant have to request a
hearing - CORRECT ANSWER-10 days
which of the following is an example of a producer being involved in an
unfair trade practice of rebating? - CORRECT ANSWER-telling a client
,that his first premium will be waived if he purchased the insurance
policy today.
how long does a licensee have to notify the commissioner of any
change in address? - CORRECT ANSWER-30 days
an insurer is on the verge of bankruptcy and can no longer pay the
claims to its insureds. Which of the following will make sure that the
insureds receive their money? - CORRECT ANSWER-the Delaware life
and health insurance guaranty association
a policy that has which of the following features would not be
considered a prohibited policy? - CORRECT ANSWER-dividends on
participating policies
which of the following would be included in a buyer's guide - CORRECT
ANSWER-general explanation of advatnages and drawbacks to a type of
policy
, an annuity contract will be incontestable after it has been in force for a
period of how many years from the date of issue - CORRECT ANSWER-2
year
two individuals are in the same risk and age class; yet, they are charged
different rates for their insurance policies due to an insignificant factor.
what is this called? - CORRECT ANSWER-discrimination
which of the following statements does not describe credit life
insurance? - CORRECT ANSWER-credit life is written as increasing term
insurance
which of the following best describes a misrepresentation - CORRECT
ANSWER-issuing sales material with exaggerated statements about
policy benefits
the maximum interest rate that can be charged on a policy loan is -
CORRECT ANSWER-8% per year
