Connecticut Life and Health Final Exam
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Someone who is licensed to negotiate a life settlement contract is called a - CORRECT
ANSWER - Life settlement broker
Chris has a single major medical contract which covers all medical expenses. His plan is
considered to be - CORRECT ANSWER - comprehensive
What typically changes at the re-entry option date found in some life insurance policies? -
CORRECT ANSWER - Premium - a re-entry option gives the insured the opportunity to
provide evidence of insurability at the end of the term to qualify to renew the policy at a lower
premium
In Connecticut, continuing education courses must be approved by the - CORRECT
ANSWER - Commissioner
After a life insurance policy has been in effect for _____ year(s), it becomes incontestable. -
CORRECT ANSWER -2
Which of the following must clearly be illustrated in all sales material for market value adjusted
annuities?
1. The market value adjustment must always be approved by the commissioner
2. The market value adjustment is always downward
3. The market value adjustment is always upwards
4. The market value adjustment can be either upward or downward - CORRECT
ANSWER - 4. The market value adjustment can be either upward or downward
,According to the Pregnancy Discrimination Act of 1978, employers must treat a pregnancy in the
same manner as - CORRECT ANSWER - any other medical disability - the pregnancy
discrimination act of 1978 requires that employers treat pregnancy in the same manner as a
disability for any other medical reason
Which of these noncontributory group plans would a claim likely result in the payment of federal
income?
1. Accidental health
2. Blanket health
3. Major medical
4. Disability income - CORRECT ANSWER - Disability income
During the liquidation phase of an annuity contract, to whom are the income benefits normally
payable to? - CORRECT ANSWER - Annuitant - the income benefits distributed during
the liquidation phase of an annuity contract are normally payable to the annuitant
Under an adjustable life insurance policy, which of the following may NOT be changed without
further underwriting?
The person insured
The period of coverage
The payment period
The plan of coverage - CORRECT ANSWER - The person insured - all of these may
normally be changed without further underwriting in an adjustable life insurance policy expect
for the "person insurance"
All of these are duties that a producer may be required to perform when delivering an insurance
policy expect
Acquire a statement of good health signature
Gather the initial premium
Review policy with applicant
Leave a conditional receipt with client - CORRECT ANSWER - Leave a conditional
receipt with client - a conditional receipt is normally given prior to a policy being issued
, According to the affordable care act, insurers can no longer deny health coverage due to pre-
existing conditions unless that plan is a(n) - CORRECT ANSWER - Grandfathered plan -
under the affordable care act, health insurers can no longer charge more or deny coverage to you
or your child because of a pre-existing health condition unless it is grandfathered health plan
Which of the following types of insurers limits the exposures it writes to those of its owners? -
CORRECT ANSWER - Captive insurer - an insurer that confines largely limits the
exposures it writes to those of its owners is called a captive insurer
Which of the following could be a future use of cash value that builds in a recently-purchased
whole life insurance policy?
Convert the cash value to a paid-up term policy
Gives policyowner ability to borrow against funds within two years
Increases policy's face amount
Provide supplemental income in 35 years - CORRECT ANSWER - Provide supplemental
income in 35 years - whole kife policies typically begin to accrue cash value during the 3rd year
after issue. The cash value that accumulates can be used to supplement income during retirement
years
An accident and health insurance policy's premium requirements are set forth in which of the
following provisions? - CORRECT ANSWER - Consideration clause - sets forth an
accident and health insurance policy's premium requirements
An insured has $25,000 whole life insurance policy with $6000 cash value available. Under the
extended term nonforfeiture option, what is the amount of insurance available to the insured? -
CORRECT ANSWER - $25,000 - the extended term option uses the policy's cash value to
purchase a level term insurance policy in an amount equal to the original policy's face value, for
as long a period as the cash value will purchase.
A life settlement ______ negotiates a life settlement between a policyowner and a life settlement
provider. - CORRECT ANSWER - Broker
UPDATED ACTUAL Exam Questions and
CORRECT Answers
Someone who is licensed to negotiate a life settlement contract is called a - CORRECT
ANSWER - Life settlement broker
Chris has a single major medical contract which covers all medical expenses. His plan is
considered to be - CORRECT ANSWER - comprehensive
What typically changes at the re-entry option date found in some life insurance policies? -
CORRECT ANSWER - Premium - a re-entry option gives the insured the opportunity to
provide evidence of insurability at the end of the term to qualify to renew the policy at a lower
premium
In Connecticut, continuing education courses must be approved by the - CORRECT
ANSWER - Commissioner
After a life insurance policy has been in effect for _____ year(s), it becomes incontestable. -
CORRECT ANSWER -2
Which of the following must clearly be illustrated in all sales material for market value adjusted
annuities?
1. The market value adjustment must always be approved by the commissioner
2. The market value adjustment is always downward
3. The market value adjustment is always upwards
4. The market value adjustment can be either upward or downward - CORRECT
ANSWER - 4. The market value adjustment can be either upward or downward
,According to the Pregnancy Discrimination Act of 1978, employers must treat a pregnancy in the
same manner as - CORRECT ANSWER - any other medical disability - the pregnancy
discrimination act of 1978 requires that employers treat pregnancy in the same manner as a
disability for any other medical reason
Which of these noncontributory group plans would a claim likely result in the payment of federal
income?
1. Accidental health
2. Blanket health
3. Major medical
4. Disability income - CORRECT ANSWER - Disability income
During the liquidation phase of an annuity contract, to whom are the income benefits normally
payable to? - CORRECT ANSWER - Annuitant - the income benefits distributed during
the liquidation phase of an annuity contract are normally payable to the annuitant
Under an adjustable life insurance policy, which of the following may NOT be changed without
further underwriting?
The person insured
The period of coverage
The payment period
The plan of coverage - CORRECT ANSWER - The person insured - all of these may
normally be changed without further underwriting in an adjustable life insurance policy expect
for the "person insurance"
All of these are duties that a producer may be required to perform when delivering an insurance
policy expect
Acquire a statement of good health signature
Gather the initial premium
Review policy with applicant
Leave a conditional receipt with client - CORRECT ANSWER - Leave a conditional
receipt with client - a conditional receipt is normally given prior to a policy being issued
, According to the affordable care act, insurers can no longer deny health coverage due to pre-
existing conditions unless that plan is a(n) - CORRECT ANSWER - Grandfathered plan -
under the affordable care act, health insurers can no longer charge more or deny coverage to you
or your child because of a pre-existing health condition unless it is grandfathered health plan
Which of the following types of insurers limits the exposures it writes to those of its owners? -
CORRECT ANSWER - Captive insurer - an insurer that confines largely limits the
exposures it writes to those of its owners is called a captive insurer
Which of the following could be a future use of cash value that builds in a recently-purchased
whole life insurance policy?
Convert the cash value to a paid-up term policy
Gives policyowner ability to borrow against funds within two years
Increases policy's face amount
Provide supplemental income in 35 years - CORRECT ANSWER - Provide supplemental
income in 35 years - whole kife policies typically begin to accrue cash value during the 3rd year
after issue. The cash value that accumulates can be used to supplement income during retirement
years
An accident and health insurance policy's premium requirements are set forth in which of the
following provisions? - CORRECT ANSWER - Consideration clause - sets forth an
accident and health insurance policy's premium requirements
An insured has $25,000 whole life insurance policy with $6000 cash value available. Under the
extended term nonforfeiture option, what is the amount of insurance available to the insured? -
CORRECT ANSWER - $25,000 - the extended term option uses the policy's cash value to
purchase a level term insurance policy in an amount equal to the original policy's face value, for
as long a period as the cash value will purchase.
A life settlement ______ negotiates a life settlement between a policyowner and a life settlement
provider. - CORRECT ANSWER - Broker
