Health and Life Insurance Exam,
Questions & Answers 2025
Pure Risk - -Insurance is defined as the transfer of what to the insurance
company in consideration for a premium?
- Speculative Risk - -What type of risk is not insurable?
- Exposure - -A condition that could result in a loss is now as what?
- Hazard - -This increases the chance of loss.
- Lump Sum - -If a settlement option is not chosen by the beneficiary or
policy owner, which option will be used?
- Straight Life - -What policy would be classified as a traditional level
premium contract?
- The employer is the owner and beneficiary. - -Who is the owner and who is
the beneficiary on a key person life insurance policy?
- Promote the public welfare - -What is the purpose of insurance regulation?
- 30 months - -Employer health plans must provide primary coverage for
individuals with end-stage renal disease before medicare becomes primary
for how many months?
- Ratio of men and women in the group - -Group life is based on what?
- The source must be identified - -What is true regarding statistics use din
an advertisement?
- 10 years - -Any licensed person whose activities affect interstate
commerce and who knowingly make false material statements related to the
business of insurance my be imprisoned for up to how long?
- Rates by Class - -Insurers may change which of the following on a
guaranteed renewable health insurance policy?
- Face Amount - -What does "level" refer to in level erm insurance?
- It is used to lower premiums - -An insurer invests money it receives form
premiums paid by its insurers, what would happen to this investment?
, - It provides income the beneficiary cannot outlive - -What can happen
regarding a single life settlement option?
- The refund of the original amount minus payments already made - -With
the cash refund option, when the annuitant dies, what would the beneficiary
receive?
- Bail-Out provision - -What allows the owner to surrender an annuity
without a charge?
- 31 days - -When an employee terminates coverage under a group
insurance policy, coverage continues in force for how long?
- Illegal - -An insurer devised an intimidation strategy in order to corner a
large portion of the insurance market. What best describes this practice?
- a securities license
A life insurance license
A FINRA registration - -To sell variable life insurance policies, an agent must
receive what?
- Policy of Claims Provision - -What provision would prevent an insurance
company from paying a reimbursement claim to someone other than the
policy owner?
- Monthly - -Under an individual disability policy, the minimum schedule of
time in which a claim payment must be made to an insured is what?
- Consumer Report - -What type of report includes information regarding a
person's credit, character, reputation and habits?
- The guaranty Association
The SEC
The insurance Department - -What entities regulate variable life polices?
- Providing a customer with an incomplete illustration - -What would be a
violation of a life policy illustration regulation?
- 2 or more - -HIPPA applies to groups of what?
- within 1 year of revocation - -A producer's license has been revoked for a
violation of the Insurance Code. When can the producer apply for a new
license?
- Recurrent disability - -When an insurer combines two periods of disability
into one, the insured must have suffered what?
Questions & Answers 2025
Pure Risk - -Insurance is defined as the transfer of what to the insurance
company in consideration for a premium?
- Speculative Risk - -What type of risk is not insurable?
- Exposure - -A condition that could result in a loss is now as what?
- Hazard - -This increases the chance of loss.
- Lump Sum - -If a settlement option is not chosen by the beneficiary or
policy owner, which option will be used?
- Straight Life - -What policy would be classified as a traditional level
premium contract?
- The employer is the owner and beneficiary. - -Who is the owner and who is
the beneficiary on a key person life insurance policy?
- Promote the public welfare - -What is the purpose of insurance regulation?
- 30 months - -Employer health plans must provide primary coverage for
individuals with end-stage renal disease before medicare becomes primary
for how many months?
- Ratio of men and women in the group - -Group life is based on what?
- The source must be identified - -What is true regarding statistics use din
an advertisement?
- 10 years - -Any licensed person whose activities affect interstate
commerce and who knowingly make false material statements related to the
business of insurance my be imprisoned for up to how long?
- Rates by Class - -Insurers may change which of the following on a
guaranteed renewable health insurance policy?
- Face Amount - -What does "level" refer to in level erm insurance?
- It is used to lower premiums - -An insurer invests money it receives form
premiums paid by its insurers, what would happen to this investment?
, - It provides income the beneficiary cannot outlive - -What can happen
regarding a single life settlement option?
- The refund of the original amount minus payments already made - -With
the cash refund option, when the annuitant dies, what would the beneficiary
receive?
- Bail-Out provision - -What allows the owner to surrender an annuity
without a charge?
- 31 days - -When an employee terminates coverage under a group
insurance policy, coverage continues in force for how long?
- Illegal - -An insurer devised an intimidation strategy in order to corner a
large portion of the insurance market. What best describes this practice?
- a securities license
A life insurance license
A FINRA registration - -To sell variable life insurance policies, an agent must
receive what?
- Policy of Claims Provision - -What provision would prevent an insurance
company from paying a reimbursement claim to someone other than the
policy owner?
- Monthly - -Under an individual disability policy, the minimum schedule of
time in which a claim payment must be made to an insured is what?
- Consumer Report - -What type of report includes information regarding a
person's credit, character, reputation and habits?
- The guaranty Association
The SEC
The insurance Department - -What entities regulate variable life polices?
- Providing a customer with an incomplete illustration - -What would be a
violation of a life policy illustration regulation?
- 2 or more - -HIPPA applies to groups of what?
- within 1 year of revocation - -A producer's license has been revoked for a
violation of the Insurance Code. When can the producer apply for a new
license?
- Recurrent disability - -When an insurer combines two periods of disability
into one, the insured must have suffered what?
