©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
PA Life Insurance License Exam Practice
Questions and Answers (100% Pass)
an immediate annuity has been purchased with a single premium. when does the
annuitant typically begin receiving benefit payments? - ✔️✔️1 month
An insurer will accept a premium from the insured and continue the coverage in full
force as though it was NOT late during which time period?
Incontestable period
Probation period
Reinstatement period
Grace period - ✔️✔️Grace period
The grace period is the amount of time an insurer continues coverage in full force and
will accept the premium from the insured as though it was NOT late.
1
, ©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
A little insurance producer licensed in the commonwealth of PA is authorized to -
✔️✔️Solicit, Receive and forward applications to insurers
Upon policy delivery, which of the following must a producer have an applicant sign if no
initial premium was collected with the life insurance application? - ✔️✔️A good health
statement
Which contract element is insurable interest a component of? - ✔️✔️legal purpose
All of these are common exclusions to a life insurance policy EXCEPT - ✔️✔️accidental
death
An insurer's ability to make unpredictable payouts to policyowners is called - ✔️✔️liquidity
A policy owner may exercise which of these dividend options that uses the dividend to
pay all or part of the next premium due - ✔️✔️Reduction of Premium Dividend Option
when collecting insurance premiums from a client, a producer must - ✔️✔️forward
premiums to the insurer on a timely basis
Jonas is a whole life insurance policyowner and would like to add coverage for his two
children. Which of the following products would allow him to accomplish this? - ✔️✔️Child
term rider
Shirley has a $500,000 10-year non-renewable level term life policy. If she dies 15
years after the policy's inception date, how much will her beneficiary receive? -
✔️✔️nothing
2
PA Life Insurance License Exam Practice
Questions and Answers (100% Pass)
an immediate annuity has been purchased with a single premium. when does the
annuitant typically begin receiving benefit payments? - ✔️✔️1 month
An insurer will accept a premium from the insured and continue the coverage in full
force as though it was NOT late during which time period?
Incontestable period
Probation period
Reinstatement period
Grace period - ✔️✔️Grace period
The grace period is the amount of time an insurer continues coverage in full force and
will accept the premium from the insured as though it was NOT late.
1
, ©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
A little insurance producer licensed in the commonwealth of PA is authorized to -
✔️✔️Solicit, Receive and forward applications to insurers
Upon policy delivery, which of the following must a producer have an applicant sign if no
initial premium was collected with the life insurance application? - ✔️✔️A good health
statement
Which contract element is insurable interest a component of? - ✔️✔️legal purpose
All of these are common exclusions to a life insurance policy EXCEPT - ✔️✔️accidental
death
An insurer's ability to make unpredictable payouts to policyowners is called - ✔️✔️liquidity
A policy owner may exercise which of these dividend options that uses the dividend to
pay all or part of the next premium due - ✔️✔️Reduction of Premium Dividend Option
when collecting insurance premiums from a client, a producer must - ✔️✔️forward
premiums to the insurer on a timely basis
Jonas is a whole life insurance policyowner and would like to add coverage for his two
children. Which of the following products would allow him to accomplish this? - ✔️✔️Child
term rider
Shirley has a $500,000 10-year non-renewable level term life policy. If she dies 15
years after the policy's inception date, how much will her beneficiary receive? -
✔️✔️nothing
2
