CT Life & Health Insurance Exam Questions
with complete solutions
Laura added a children's rider to her life insurance policy. What type of coverage was added? - VERIFIED
ANSWER✔✔-Level term
With life insurance, the needs approach is used primarily in determining - VERIFIED ANSWER✔✔-How much
life insurance a client should apply for
A(n) __________ is a licensee who charges a fee for contracted insurance advisory services. - VERIFIED
ANSWER✔✔-Consultant
Jonas is covered with disability insurance through his employer. The employer pays 75% of the premium, while
Jonas pays the other 25%. What is Jonas' tax liability for any benefits paid from the disability plan? - VERIFIED
ANSWER✔✔-Taxes must be paid on 75% of the benefits received
The Commissioner is empowered to perform each of the following acts EXCEPT - VERIFIED ANSWER✔✔-
Makes rules that are consistent with those of neighboring states
(Monitor insurer solvency, make rules and regulations that are consistent with the laws of CT, monitor insurer
premium rates)
How are the premiums for an individually-owned disability income policy treated for tax purposes? - VERIFIED
ANSWER✔✔-Not tax-deductible at all
Scott has a life insurance policy in which the dividends are left with the insurance company. This particular policy
may be paid up when the cash value plus accumulated dividends - VERIFIED ANSWER✔✔-Equal the net single
premium for the same face amount at the insured's attained age
Which of these is NOT a standard provision in qualified long-term care policies sold in Connecticut? - VERIFIED
ANSWER✔✔-Prior hospitalization
(30-day free look period, guaranteed renewability, provide minimum coverage for 12 consecutive months)
Accident and health insurance claim handling is made more convenient to the insured by utilizing - VERIFIED
ANSWER✔✔-Assignment of benefits
Specialty care is provided by which of the following health maintenance organization (HMO) providers? -
VERIFIED ANSWER✔✔-Neurologist
Which of the following facilitates nonresident licensing in the state of Connecticut? - VERIFIED ANSWER✔✔-
Reciprocity agreement
To secure authority for soliciting insurance products in the State of Connecticut, an insurance company must
secure a certificate of authority from - VERIFIED ANSWER✔✔-The Connecticut Insurance Commissioner
A group health certificate for coverage issued in Connecticut MUST contain a(n) - VERIFIED ANSWER✔✔-
Summary of policy features and benefits
Any employee insured under a group life insurance plan is normally - VERIFIED ANSWER✔✔-Covered with
term life insurance
Which statement regarding whole life insurance is accurate? - VERIFIED ANSWER✔✔-Insurance coverage can
, continue for life
All of these are considered to be a violation of the Federal Fraud and False Statements Act EXCEPT - VERIFIED
ANSWER✔✔-Claims reimbursement
(Overvaluing land, abstracting funds, false entries on reports)
A comprehensive major medical health insurance policy contains an Eligible Expenses provision which identifies
the types of health care services that are covered. All of the following health care services are typically covered
EXCEPT for - VERIFIED ANSWER✔✔-Experimental and investigative services
(Hospital charges, physician fees, nursing services)
An employee welfare plan exempt from ERISA regulations would be - VERIFIED ANSWER✔✔-Church plans
Medicare Part B excess charges are covered by - VERIFIED ANSWER✔✔-Medicare Supplemental insurance
A major medical expense policy typically does NOT - VERIFIED ANSWER✔✔-Pay surgeon fees on a first-
dollar basis
(Contain a deductible, have a high limit of coverage, contain a coinsurance provision)
Mary has a Health Savings Account (HSA). Distributions that she has made for anything other than qualified
medical expenses are considered taxable and subject to a penalty of - VERIFIED ANSWER✔✔-20%
Under an adjustable life insurance policy, which of the following may NOT be changed without further
underwriting? - VERIFIED ANSWER✔✔-The person insured
(The period of coverage, the payment period, the plan of coverage)
When a producer acts within the scope of his/her contractual authority, which of the following is legally
responsible for these actions? - VERIFIED ANSWER✔✔-The insurer
An accident and health insurer has just received written proof of loss from one of its insureds. The insured must
now wait 60 days before - VERIFIED ANSWER✔✔-Bringing legal action against the insurer
During the sale of a life insurance policy, a producer may provide an incomplete illustration - VERIFIED
ANSWER✔✔-Never
Taking a sum of money and decreasing it in size is called - VERIFIED ANSWER✔✔-Capital liquidation
In Connecticut, continuing education courses must be approved by the - VERIFIED ANSWER✔✔-
Commissioner
In regards to the Affordable Care Act (ACA), which of these is NOT a role of a health insurance exchange? -
VERIFIED ANSWER✔✔-Contact the employer if an employee stops coverage under a plan offered in the
exchange
(Offer individual, unique formats for consumers to evaluate different health plan options, certify that a health plan
is qualified to be offered on the exchange, resolve and verify an applicant's inconsistent or incomplete
information)
What type of risk involves the potential for loss AND the possibility for gain? - VERIFIED ANSWER✔✔-
Speculative
How long does one premium payment cover a single premium whole life policy? - VERIFIED ANSWER✔✔-
Full life of the policy
with complete solutions
Laura added a children's rider to her life insurance policy. What type of coverage was added? - VERIFIED
ANSWER✔✔-Level term
With life insurance, the needs approach is used primarily in determining - VERIFIED ANSWER✔✔-How much
life insurance a client should apply for
A(n) __________ is a licensee who charges a fee for contracted insurance advisory services. - VERIFIED
ANSWER✔✔-Consultant
Jonas is covered with disability insurance through his employer. The employer pays 75% of the premium, while
Jonas pays the other 25%. What is Jonas' tax liability for any benefits paid from the disability plan? - VERIFIED
ANSWER✔✔-Taxes must be paid on 75% of the benefits received
The Commissioner is empowered to perform each of the following acts EXCEPT - VERIFIED ANSWER✔✔-
Makes rules that are consistent with those of neighboring states
(Monitor insurer solvency, make rules and regulations that are consistent with the laws of CT, monitor insurer
premium rates)
How are the premiums for an individually-owned disability income policy treated for tax purposes? - VERIFIED
ANSWER✔✔-Not tax-deductible at all
Scott has a life insurance policy in which the dividends are left with the insurance company. This particular policy
may be paid up when the cash value plus accumulated dividends - VERIFIED ANSWER✔✔-Equal the net single
premium for the same face amount at the insured's attained age
Which of these is NOT a standard provision in qualified long-term care policies sold in Connecticut? - VERIFIED
ANSWER✔✔-Prior hospitalization
(30-day free look period, guaranteed renewability, provide minimum coverage for 12 consecutive months)
Accident and health insurance claim handling is made more convenient to the insured by utilizing - VERIFIED
ANSWER✔✔-Assignment of benefits
Specialty care is provided by which of the following health maintenance organization (HMO) providers? -
VERIFIED ANSWER✔✔-Neurologist
Which of the following facilitates nonresident licensing in the state of Connecticut? - VERIFIED ANSWER✔✔-
Reciprocity agreement
To secure authority for soliciting insurance products in the State of Connecticut, an insurance company must
secure a certificate of authority from - VERIFIED ANSWER✔✔-The Connecticut Insurance Commissioner
A group health certificate for coverage issued in Connecticut MUST contain a(n) - VERIFIED ANSWER✔✔-
Summary of policy features and benefits
Any employee insured under a group life insurance plan is normally - VERIFIED ANSWER✔✔-Covered with
term life insurance
Which statement regarding whole life insurance is accurate? - VERIFIED ANSWER✔✔-Insurance coverage can
, continue for life
All of these are considered to be a violation of the Federal Fraud and False Statements Act EXCEPT - VERIFIED
ANSWER✔✔-Claims reimbursement
(Overvaluing land, abstracting funds, false entries on reports)
A comprehensive major medical health insurance policy contains an Eligible Expenses provision which identifies
the types of health care services that are covered. All of the following health care services are typically covered
EXCEPT for - VERIFIED ANSWER✔✔-Experimental and investigative services
(Hospital charges, physician fees, nursing services)
An employee welfare plan exempt from ERISA regulations would be - VERIFIED ANSWER✔✔-Church plans
Medicare Part B excess charges are covered by - VERIFIED ANSWER✔✔-Medicare Supplemental insurance
A major medical expense policy typically does NOT - VERIFIED ANSWER✔✔-Pay surgeon fees on a first-
dollar basis
(Contain a deductible, have a high limit of coverage, contain a coinsurance provision)
Mary has a Health Savings Account (HSA). Distributions that she has made for anything other than qualified
medical expenses are considered taxable and subject to a penalty of - VERIFIED ANSWER✔✔-20%
Under an adjustable life insurance policy, which of the following may NOT be changed without further
underwriting? - VERIFIED ANSWER✔✔-The person insured
(The period of coverage, the payment period, the plan of coverage)
When a producer acts within the scope of his/her contractual authority, which of the following is legally
responsible for these actions? - VERIFIED ANSWER✔✔-The insurer
An accident and health insurer has just received written proof of loss from one of its insureds. The insured must
now wait 60 days before - VERIFIED ANSWER✔✔-Bringing legal action against the insurer
During the sale of a life insurance policy, a producer may provide an incomplete illustration - VERIFIED
ANSWER✔✔-Never
Taking a sum of money and decreasing it in size is called - VERIFIED ANSWER✔✔-Capital liquidation
In Connecticut, continuing education courses must be approved by the - VERIFIED ANSWER✔✔-
Commissioner
In regards to the Affordable Care Act (ACA), which of these is NOT a role of a health insurance exchange? -
VERIFIED ANSWER✔✔-Contact the employer if an employee stops coverage under a plan offered in the
exchange
(Offer individual, unique formats for consumers to evaluate different health plan options, certify that a health plan
is qualified to be offered on the exchange, resolve and verify an applicant's inconsistent or incomplete
information)
What type of risk involves the potential for loss AND the possibility for gain? - VERIFIED ANSWER✔✔-
Speculative
How long does one premium payment cover a single premium whole life policy? - VERIFIED ANSWER✔✔-
Full life of the policy
