Rhode Island insurance Practice test exam 2024 with 100% correct answers

A term life rider offer the insured - correct answer Additional coverage The Department of business regulations may revoke a producer's license for each of the following offenses except - correct answer Violating an insurer's internal control requirements The agreement in a life insurance contract that states a specific sum of money will be paid to a designated person upon an insured's death is called a - correct answer insuring agreement Which of the following statements is a producer Not permitted to say - correct answer If my company fails to pay a claim, the guaranty Association will pay A producer has influenced an existing policy owner to convert an existing whole-life policy to reduced Paid-up insurance. The producer then sells the policy owner a new universal life policy. This transaction is called an - correct answer Replacement ` which of these is an element of a Variable life policy? - correct answer A fixed level premium Which provision prevents an insurer from changing the terms of the contract with the policyowner by referring to documents not found within the policy itself - correct answer Entire Contract provision An applicant's medical information received from the medical information Bureau (MIB) may be furnished to the - correct answer Applicant's physician Insurance policies are considered aleatory contracts because - correct answer Performance is conditioned upon a future occurrence