Final Exam - Kentucky Life and Health Insurance Questions with Verified Answers | 100% Correct| Latest 2025/2026 Update.

Final Exam - Kentucky Life and Health i,- i,- i,- i,- i,- i,- i,-




Insurance Questions with Verified Answers | i,- i,- i,- i,- i,- i,-




100% Correct| Latest 2025/2026 Update. i,- i,- i,- i,-




A product which can offer its owner a lifetime income stream is
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called an ____________.
i,- annuity i,- i,-i,- i,-




S buys a $10,000 Whole Life policy in 2003 and pays an annual
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premium of $100. S dies 5 years later in 2008 and the insurer pays
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the beneficiary $10,500. What kind of rider did S include on the
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policy? return premium rider
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When does the agent give a premium receipt for a life insurance
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application? when the initial premium has been paid with the i,-i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-



application


A life insurance policyowner falls behind on his premium
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payments and dies during the grace period. How will the insurer
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handle this claim? face amount will be paid minus the past
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due premium
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,In a family plan, a child born after issuance of the policy would
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require which of the following?
i,- covers begins immediately at i,- i,- i,- i,-i,- i,- i,- i,- i,- i,-



birth no additional premium
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Which of these is considered a mandatory provision?
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payments of claim i,- i,-




Which of these statements regarding insurance is false?
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number of losses decrease as the number of insured units
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increase


Which health policy clause stipulates that an insurance company
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must attach a copy of application to the policy to ensure that is
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part of the contract?
i,- entire contract
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Which of these is NOT relevant when determining the amount of
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personal life insurance needed? Local unemployment rate
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Which of the following is excluded from the coverage by the
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Kentucky Life and Health Insurance Guaranty Association?
i,- i,- i,- i,- i,- i,- i,-i,- i,- all i,-



of the choices are correct
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Failure to keep premiums collected separate from the agent's
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personal funds is an illegal practice known as:
i,- commingling i,- i,- i,- i,- i,- i,- i,-i,- i,-

, Similar to binding receipts, which type of coverage begins
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immediately? temporary insurance agreement i,-i,- i,- i,- i,-




Which report contains information regarding an individual's
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general reputation and credit standing?
i,- inspection report i,- i,- i,- i,-i,- i,- i,-




K becomes ill after traveling overseas and is unable to work for 3
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months. What kind of policy would cover her loss of income?
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disability income i,-




How often must the Commissioner examine insurers?
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every 3 years i,- i,-




A potential client, age 40, would like to purchase a Whole Life
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policy that will accumulate cash value at a faster rate in the early
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years of the policy. Which of these statements made by the
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producer would be correct? 20-Pay Life accumulates cash
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value faster than Straight Life
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An insurance agent who replaces an existing policy by making
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false written or oral statements is committing the act of:
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twisting