3/17/25, 6:32 PM Insurance License + Exam Questions & Verified Answers Flashcards | Quizlet
Insurance License + Exam Questions &
Verified Answers
Save
Terms in this set (84)
The Consideration Clause The schedule and amount of premium payments
of an insurance contract
includes:
A)The Buyer's Guide
B)A summary of the
coverage provided
C) the named
beneficiaries
D)The schedule and
amount of premium
payments
What type of renewability Noncancelable
guarantees premium rates
and renewability?
A) Optionally renewable
B) Conditionally
renewable
C) Noncancelable
D) Warrantied Renewable
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,3/17/25, 6:32 PM Insurance License + Exam Questions & Verified Answers Flashcards | Quizlet
K is an annuitant currently Installment Refund Annuity
receiving payments. If she
were to die before
receiving payments equal
to the correct value, a
beneficiary will continue
receiving payments until
an amount equal to the
contract value has been
paid. This is called a(n):
A) Installment Refund
Annuity
B) Joint Refund Annuity
C) Straight Refund Annuity
D) Equal Value Annuity
The percentage of an Social Security Disability Income
individuals Primary
Insurance Amount (PIA)
determines the benefits
paid in which of the
following programs?
A) Social Security
Disability Income
B) Medicare Supplements
C) Medicaid
D) COBRA
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,3/17/25, 6:32 PM Insurance License + Exam Questions & Verified Answers Flashcards | Quizlet
S is the policy owner for a Deny the claim
Major Medical Policy. The
premiums are paid
monthly and due on the
1st of each month. S fails
to make September's
payment and is
hospitalized October 15th.
When S files the claim for
this hospitalization the
insurer will likely,
A) pay half the claim
B) pay the full claim
C) pay the claim minus
September & October's
premium payment
D) deny the claim
Which settlement option Life Income
pays a stated amount to
an annuitant, but no
residual value to a
beneficiary?
A) Interest only
B) Fixed period
C) Fixed Amount
D) Life Income
What is Old Age and Social Security
Survivors Health Insurance
(OASDHI) also known as?
A) medicare
B) Social Security
C) Medicaid
D) FICA
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, 3/17/25, 6:32 PM Insurance License + Exam Questions & Verified Answers Flashcards | Quizlet
All of the following are Automatic Premium Loan Option
Nonforfeiture options
EXCEPT:
A) Cash Surrender Option
B) Extended Term Option
C) Reduced Paid-Up
Option
D) Automatic Premium
Loan Option
A policy loan is made Cash value provision
possible by which of these
life Insurance policy
features?
A) Extended term
provision
B) Cash value provision
C) owner's rights provision
D) consideration clause
The type of annuity that Immediate Annuity
can be purchased with
one monetary deposit is
called a(n):
A) Single Deposit Annuity
B) Single Premium Annuity
C) Fixed Annuity
D) Immediate Annuity
The waiting period for a 6 months
pre-existing condition
under a medicare
supplement policy may
NOT go beyond
A) 1 month
B) 3 months
C) 6 months
D) 12 months
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Insurance License + Exam Questions &
Verified Answers
Save
Terms in this set (84)
The Consideration Clause The schedule and amount of premium payments
of an insurance contract
includes:
A)The Buyer's Guide
B)A summary of the
coverage provided
C) the named
beneficiaries
D)The schedule and
amount of premium
payments
What type of renewability Noncancelable
guarantees premium rates
and renewability?
A) Optionally renewable
B) Conditionally
renewable
C) Noncancelable
D) Warrantied Renewable
https://quizlet.com/1019257833/insurance-license-215-90-exam-questions-verified-answers-flash-cards/?new 1/33
,3/17/25, 6:32 PM Insurance License + Exam Questions & Verified Answers Flashcards | Quizlet
K is an annuitant currently Installment Refund Annuity
receiving payments. If she
were to die before
receiving payments equal
to the correct value, a
beneficiary will continue
receiving payments until
an amount equal to the
contract value has been
paid. This is called a(n):
A) Installment Refund
Annuity
B) Joint Refund Annuity
C) Straight Refund Annuity
D) Equal Value Annuity
The percentage of an Social Security Disability Income
individuals Primary
Insurance Amount (PIA)
determines the benefits
paid in which of the
following programs?
A) Social Security
Disability Income
B) Medicare Supplements
C) Medicaid
D) COBRA
https://quizlet.com/1019257833/insurance-license-215-90-exam-questions-verified-answers-flash-cards/?new 2/33
,3/17/25, 6:32 PM Insurance License + Exam Questions & Verified Answers Flashcards | Quizlet
S is the policy owner for a Deny the claim
Major Medical Policy. The
premiums are paid
monthly and due on the
1st of each month. S fails
to make September's
payment and is
hospitalized October 15th.
When S files the claim for
this hospitalization the
insurer will likely,
A) pay half the claim
B) pay the full claim
C) pay the claim minus
September & October's
premium payment
D) deny the claim
Which settlement option Life Income
pays a stated amount to
an annuitant, but no
residual value to a
beneficiary?
A) Interest only
B) Fixed period
C) Fixed Amount
D) Life Income
What is Old Age and Social Security
Survivors Health Insurance
(OASDHI) also known as?
A) medicare
B) Social Security
C) Medicaid
D) FICA
https://quizlet.com/1019257833/insurance-license-215-90-exam-questions-verified-answers-flash-cards/?new 3/33
, 3/17/25, 6:32 PM Insurance License + Exam Questions & Verified Answers Flashcards | Quizlet
All of the following are Automatic Premium Loan Option
Nonforfeiture options
EXCEPT:
A) Cash Surrender Option
B) Extended Term Option
C) Reduced Paid-Up
Option
D) Automatic Premium
Loan Option
A policy loan is made Cash value provision
possible by which of these
life Insurance policy
features?
A) Extended term
provision
B) Cash value provision
C) owner's rights provision
D) consideration clause
The type of annuity that Immediate Annuity
can be purchased with
one monetary deposit is
called a(n):
A) Single Deposit Annuity
B) Single Premium Annuity
C) Fixed Annuity
D) Immediate Annuity
The waiting period for a 6 months
pre-existing condition
under a medicare
supplement policy may
NOT go beyond
A) 1 month
B) 3 months
C) 6 months
D) 12 months
https://quizlet.com/1019257833/insurance-license-215-90-exam-questions-verified-answers-flash-cards/?new 4/33
