LIFE PRODUCER CERTIFICATION
EVALUATION 2026 PRACTICE QUESTIONS
AND ANSWERS FULL SOLUTION VIEW
●● If an insured changes his payment plan from monthly to annually,
what happens to the total premium?
a)Doubles
b)Increases
c)Decreases
d)Stays the same
Answer: c) Decreases
Because the insurer would have the entire premium to invest for a full
year, they would reduce the premium amount.
●● To sell variable life insurance policies, an agent must receive all of
the following EXCEPT
a)A life insurance license.
b)SEC registration.
c)FINRA registration
, .d)A securities license.
Answer: b) The owner will receive the surrender value of the annuity.
If a deferred annuity is surrendered prior to annuitization, the surrender
value of the annuity is guaranteed according to the nonforfeiture
provision.
●● What happens if a deferred annuity is surrendered before the
annuitization period?
a)Deferred annuities cannot be surrendered prior to the annuitization
period.
b)The owner will receive the surrender value of the annuity.
c)The owner will only receive a refund of premium.
d)The insurer can only apply the surrender value toward another annuity.
Answer: b) The owner will receive the surrender value of the annuity.
If a deferred annuity is surrendered prior to annuitization, the surrender
value of the annuity is guaranteed according to the nonforfeiture
provision.
●● What is the maximum fine for submitting a false or fraudulent claim
to the insurer?
EVALUATION 2026 PRACTICE QUESTIONS
AND ANSWERS FULL SOLUTION VIEW
●● If an insured changes his payment plan from monthly to annually,
what happens to the total premium?
a)Doubles
b)Increases
c)Decreases
d)Stays the same
Answer: c) Decreases
Because the insurer would have the entire premium to invest for a full
year, they would reduce the premium amount.
●● To sell variable life insurance policies, an agent must receive all of
the following EXCEPT
a)A life insurance license.
b)SEC registration.
c)FINRA registration
, .d)A securities license.
Answer: b) The owner will receive the surrender value of the annuity.
If a deferred annuity is surrendered prior to annuitization, the surrender
value of the annuity is guaranteed according to the nonforfeiture
provision.
●● What happens if a deferred annuity is surrendered before the
annuitization period?
a)Deferred annuities cannot be surrendered prior to the annuitization
period.
b)The owner will receive the surrender value of the annuity.
c)The owner will only receive a refund of premium.
d)The insurer can only apply the surrender value toward another annuity.
Answer: b) The owner will receive the surrender value of the annuity.
If a deferred annuity is surrendered prior to annuitization, the surrender
value of the annuity is guaranteed according to the nonforfeiture
provision.
●● What is the maximum fine for submitting a false or fraudulent claim
to the insurer?
