IDAHO LIFE INSURANCE FINAL EXAM
Idaho Life Insurance final exam questions
and answers verified 100 %
According to Idaho law, group life insurance conversion privileges must NOT
a. allow a new policy to be issued
b. allow a rate increase
c.require evidence of insurability
d. allow a time period to convert group life coverage to an individual life policy
c. require evidence of insurability
Defamation occurs when a producer makes a false statement intended to
a. restrict fair trade
b. misrepresent the provisions of an insurance policy
c. replace an existing insurance policy with another
d. malign another insurer
d. Malign another insurer
Jim recently sold his whole life insurance policy under a life settlement contract. The
proceeds of this contract could be subject to the claims of
a. creditors
,IDAHO LIFE INSURANCE FINAL EXAM
b. insurer
c. debtors
d.beneficiaries
a. Creditors
Replacement regulation is designed to protect
a. insurance companies
b. existing producers
c. policyowners from misrepresentation and loss of benefit
d. beneficiaries
c. policyowners from misrepresentation and loss of benefits
In the state of Idaho, a licensed producer represents
a. the insured
b. the insurer
b. the insurer
Tia the producer is recommending to a prospect that an existing life insurance policy
be replaced with a new one from her insurer. If this transaction moves forward, which
of the following does NOT need to be provided to the prospect at or before the policy is
delivered?
a. Notice Regarding Replacement
b. Replacing insurer's financial statements
c. Policy Summary
d. Buyer's Guide
b. Replacing insurer's financial statement
, IDAHO LIFE INSURANCE FINAL EXAM
Who is required to notify the producer in the event of appointment termination?
a. Attorney General
b. Director
c. Governor
d. Insurer
d. Insurer
When an insurance policy is under the free look period, the policyowner is entitled to
a. the producer's commission
b. the policy's cash value
c. a refund amount of two times the premiums paid
d. a refund of all premiums and fees paid
d. a refund of all premiums and fees paid
A producer may be disciplined by the Director for which of the following actions?
a. Sharing commissions with other licensed producers
b. Being accused of a felony
c. Failing to meet insurer production requirements
d. Misappropriation of premium funds
d. Misappropriation of premium funds
Producer appointments are filed with the Director by the
a. Governor
b. Director
c. insurer
d. producer
Idaho Life Insurance final exam questions
and answers verified 100 %
According to Idaho law, group life insurance conversion privileges must NOT
a. allow a new policy to be issued
b. allow a rate increase
c.require evidence of insurability
d. allow a time period to convert group life coverage to an individual life policy
c. require evidence of insurability
Defamation occurs when a producer makes a false statement intended to
a. restrict fair trade
b. misrepresent the provisions of an insurance policy
c. replace an existing insurance policy with another
d. malign another insurer
d. Malign another insurer
Jim recently sold his whole life insurance policy under a life settlement contract. The
proceeds of this contract could be subject to the claims of
a. creditors
,IDAHO LIFE INSURANCE FINAL EXAM
b. insurer
c. debtors
d.beneficiaries
a. Creditors
Replacement regulation is designed to protect
a. insurance companies
b. existing producers
c. policyowners from misrepresentation and loss of benefit
d. beneficiaries
c. policyowners from misrepresentation and loss of benefits
In the state of Idaho, a licensed producer represents
a. the insured
b. the insurer
b. the insurer
Tia the producer is recommending to a prospect that an existing life insurance policy
be replaced with a new one from her insurer. If this transaction moves forward, which
of the following does NOT need to be provided to the prospect at or before the policy is
delivered?
a. Notice Regarding Replacement
b. Replacing insurer's financial statements
c. Policy Summary
d. Buyer's Guide
b. Replacing insurer's financial statement
, IDAHO LIFE INSURANCE FINAL EXAM
Who is required to notify the producer in the event of appointment termination?
a. Attorney General
b. Director
c. Governor
d. Insurer
d. Insurer
When an insurance policy is under the free look period, the policyowner is entitled to
a. the producer's commission
b. the policy's cash value
c. a refund amount of two times the premiums paid
d. a refund of all premiums and fees paid
d. a refund of all premiums and fees paid
A producer may be disciplined by the Director for which of the following actions?
a. Sharing commissions with other licensed producers
b. Being accused of a felony
c. Failing to meet insurer production requirements
d. Misappropriation of premium funds
d. Misappropriation of premium funds
Producer appointments are filed with the Director by the
a. Governor
b. Director
c. insurer
d. producer
