DC LIFE INSURANCE EXAM 2025 WITH
ACCURATE SOLUTIONS
1. Describe the significance of the 20-day period for insurers in the context
of policy rejections.
The 20-day period is the time insurers have to process a new
application.
The 20-day period is the time allowed for policyholders to appeal
a claim denial.
The 20-day period allows insurers to contest a policy rejection
and seek a hearing to address the decision.
The 20-day period is the maximum time for insurers to issue a
policy.
2. Which of the following are NOT managed care organizations?
MIB
PPO
HMO
POS
3. Describe how risk classification affects the premium rates for whole life
insurance policies.
Risk classification determines the likelihood of a claim being
made, which influences the premium rates.
Risk classification is based solely on the applicant's income.
Risk classification only affects term life policies, not whole life
,policies.
Risk classification is irrelevant to premium rates.
,4. Long Term Care benefits are paid on which basis?
fee for service
usual reasonable
prepaid
expense incurred
5. The proceeds of a life insurance policy can be paid in a form other than a
lump-sum payment. These forms of payment are called:
settlement options
dividends
accelerated benefits
viatical options
6. In a policy insuring the life of a child, which of the following allows the
premiums to be waived in the event of the death or disability of the
person responsible for premium payments:
Reduction of Premium Option
Reduced paid-up option
Payor Provision
Waiver of premium provision
7. What must be included in newborn child coverage?
Medically diagnosed congenital defects
Examinations not necessary for the treatment of a defect
Immunizations
Routine well-baby care
, 8. In a health policy, which of the following policy features states that the
insured and the insurance company will share the cost of covered
losses?
Assignment clause
payment of claims provision
Coinsurance clause
Consideration clause
9. A provision in a health insurance policy that states a company can no
longer use statements on an application to deny a claim, unless they are
fraudulent is:
Proof of loss
Incontestable period
Time limit on certain defenses
Entire contract
10. In a Disability Income policy, an element that would permanently
exclude coverage for a preexisting back injury is known as:
An Impairment Rider
A Consideration
A Rated Policy
A Declaration of Coverage
11. Discuss the implications of filing bankruptcy on a producer's license
status.
Filing bankruptcy requires immediate renewal of the producer's
license.
Filing bankruptcy does not automatically lead to the suspension
of a producer's license.
ACCURATE SOLUTIONS
1. Describe the significance of the 20-day period for insurers in the context
of policy rejections.
The 20-day period is the time insurers have to process a new
application.
The 20-day period is the time allowed for policyholders to appeal
a claim denial.
The 20-day period allows insurers to contest a policy rejection
and seek a hearing to address the decision.
The 20-day period is the maximum time for insurers to issue a
policy.
2. Which of the following are NOT managed care organizations?
MIB
PPO
HMO
POS
3. Describe how risk classification affects the premium rates for whole life
insurance policies.
Risk classification determines the likelihood of a claim being
made, which influences the premium rates.
Risk classification is based solely on the applicant's income.
Risk classification only affects term life policies, not whole life
,policies.
Risk classification is irrelevant to premium rates.
,4. Long Term Care benefits are paid on which basis?
fee for service
usual reasonable
prepaid
expense incurred
5. The proceeds of a life insurance policy can be paid in a form other than a
lump-sum payment. These forms of payment are called:
settlement options
dividends
accelerated benefits
viatical options
6. In a policy insuring the life of a child, which of the following allows the
premiums to be waived in the event of the death or disability of the
person responsible for premium payments:
Reduction of Premium Option
Reduced paid-up option
Payor Provision
Waiver of premium provision
7. What must be included in newborn child coverage?
Medically diagnosed congenital defects
Examinations not necessary for the treatment of a defect
Immunizations
Routine well-baby care
, 8. In a health policy, which of the following policy features states that the
insured and the insurance company will share the cost of covered
losses?
Assignment clause
payment of claims provision
Coinsurance clause
Consideration clause
9. A provision in a health insurance policy that states a company can no
longer use statements on an application to deny a claim, unless they are
fraudulent is:
Proof of loss
Incontestable period
Time limit on certain defenses
Entire contract
10. In a Disability Income policy, an element that would permanently
exclude coverage for a preexisting back injury is known as:
An Impairment Rider
A Consideration
A Rated Policy
A Declaration of Coverage
11. Discuss the implications of filing bankruptcy on a producer's license
status.
Filing bankruptcy requires immediate renewal of the producer's
license.
Filing bankruptcy does not automatically lead to the suspension
of a producer's license.
