LICENSE EXAM: THE MOST COMPRENSIVE A+ QUESTIONS
AND ANSWERS BOOOKLET TO ACE THE EXAM!
All of the following are true statements regarding policy dividends paid on a life
insurance contract EXCEPT
They are considered taxable income
In order to determine the suitability of an annuity, a producer must make a
reasonable effort to obtain and record information about the client about all of the
following EXCEPT
education level
To be valid, a contract must be between individuals considered legally able to
enter into an agreement. This principle is known as
Competent parties
A modified endowment contract (MEC) receives different tax treatment on pre-
death distribution than other life insurance policies because the modified
endowment policy
tents to be an investment vehicle
John has a 20yr. Renewable and Convertible level term life insurance policy that
he purchased when he was 35. All of the following are correct EXCEPT
Jhon will need to take another physical exam if he wishes to renew it
A change in premium due to a rate-up would normally be discussed with a client
At the time of the policy delivery
Money taken out of a modified endowment contract (MEC)
may be subjected to unfavorable tax rules
With an insurance contract, what is the insured's consideration
the premium paid
All of the following are true regarding the doctrine of insurable interest EXEPT
the beneficiary must have insurable interest in the insured
All of the following are true statements regarding a Statement of Continued Good
Health EXEPT
it is obtained when a policy is delivered where a conditional receipt was issued
, All of the following are true statements regarding a Statement of Continued Good
Health EXCEPT
It is obtained when a policy is delivered where a conditional receipt was issued
Standard nonforfeiture benefits include
reduce paid up insurance
The type of contract where only one party gives a legally enforceable promise is a
unilateral contract
All of the following are sources of insurability information EXCEPT
the beneficiary designation
John applies for a life insurance policy, gives his agent the first months' premium
and receives a conditional receipt. John is approved for the policy with a rate-up
for his diabetes, but his agent has not yet delivered his policy. When his agent
calls him to make an appointment to deliver the policy, John's wife informs him
he has died in a car accident. Which of the following scenarios best describes the
insurance company's course of action?
they will deny the claim
Which of the following parties are not required to sign an application for life
insurance?
the beneficiary
what is the proper term for a company owned by its policy owners?
a mutual insurance company
An insurance company incorporatedin England, anddoing business in
NewJerseyis best described a
an alien insurer
All of the following are true statements regarding representations EXCEPT?
a statement that is guaranteed to be true
All of the following are true statements EXCEPT
brokers represent the insurance company
the grace period in a life insurance policy begins
when the premium is due
The provision that addresses misstatements made by applicant on application is
AND ANSWERS BOOOKLET TO ACE THE EXAM!
All of the following are true statements regarding policy dividends paid on a life
insurance contract EXCEPT
They are considered taxable income
In order to determine the suitability of an annuity, a producer must make a
reasonable effort to obtain and record information about the client about all of the
following EXCEPT
education level
To be valid, a contract must be between individuals considered legally able to
enter into an agreement. This principle is known as
Competent parties
A modified endowment contract (MEC) receives different tax treatment on pre-
death distribution than other life insurance policies because the modified
endowment policy
tents to be an investment vehicle
John has a 20yr. Renewable and Convertible level term life insurance policy that
he purchased when he was 35. All of the following are correct EXCEPT
Jhon will need to take another physical exam if he wishes to renew it
A change in premium due to a rate-up would normally be discussed with a client
At the time of the policy delivery
Money taken out of a modified endowment contract (MEC)
may be subjected to unfavorable tax rules
With an insurance contract, what is the insured's consideration
the premium paid
All of the following are true regarding the doctrine of insurable interest EXEPT
the beneficiary must have insurable interest in the insured
All of the following are true statements regarding a Statement of Continued Good
Health EXEPT
it is obtained when a policy is delivered where a conditional receipt was issued
, All of the following are true statements regarding a Statement of Continued Good
Health EXCEPT
It is obtained when a policy is delivered where a conditional receipt was issued
Standard nonforfeiture benefits include
reduce paid up insurance
The type of contract where only one party gives a legally enforceable promise is a
unilateral contract
All of the following are sources of insurability information EXCEPT
the beneficiary designation
John applies for a life insurance policy, gives his agent the first months' premium
and receives a conditional receipt. John is approved for the policy with a rate-up
for his diabetes, but his agent has not yet delivered his policy. When his agent
calls him to make an appointment to deliver the policy, John's wife informs him
he has died in a car accident. Which of the following scenarios best describes the
insurance company's course of action?
they will deny the claim
Which of the following parties are not required to sign an application for life
insurance?
the beneficiary
what is the proper term for a company owned by its policy owners?
a mutual insurance company
An insurance company incorporatedin England, anddoing business in
NewJerseyis best described a
an alien insurer
All of the following are true statements regarding representations EXCEPT?
a statement that is guaranteed to be true
All of the following are true statements EXCEPT
brokers represent the insurance company
the grace period in a life insurance policy begins
when the premium is due
The provision that addresses misstatements made by applicant on application is
