Utah Life Insurance Test 2025
Questions and Answers 100% Pass
Minimum Age to receive a license - ✔✔18
Continuing Education Hours - ✔✔24 Hours every 2 years (3 Hours must be in ethics)
Insurer must respond to claimant communications within how many days? - ✔✔15
days
Commissioner Powers and duties include: - ✔✔Imposing penalties, including fines,
suspensions, and revocations.
All insurance forms (riders, policies, applications, endorsements, and contracts)
must be filed and approved by the Commissioner.
Gramm-Leach-Bliley Act (GLBA) - ✔✔Consumer - An individual about whom a
company collects information is a consumer.
Customer - A customer is a consumer that has developed an ongoing relationship
with a financial institution.
Privacy Notices must explain: - ✔✔What info the company gathers about the
customer.
Where that info is shared
How the company safeguards that info
Fair Credit Reporting Act - ✔✔Responsible for the opt-out opportunity, but the
privacy notice must inform the customer of this right under the GLBA.
COPYRIGHT © 2025 BY SOPHIA BENNETT, ALL RIGHTS RESERVED 1
, Insurance Consultants - ✔✔To become licensed as an insurance consultant, a
producer must have been licensed and actively transacted inurance for at least three
of the four years immediately preceding the application for a consultants license.
License Requirements - ✔✔18 years old at least.
Appointments - ✔✔All producers must be appointed by at least one insurer.
Misrepresentation - ✔✔It is illegal to make any written or oral statement, sales
presentation, or comparison that; misrepresents the dividends, benefits, advantages,
conditions, or terms of any policy.
Example: uses a name of any insurance policy that misrepresents its true nature.
False Advertising - ✔✔It is illegal for any producer to formulate or use an
advertisement or statement that is untrue, deceptive, or misleading regarding any
insurance company or persons associated with that company.
Defamation - ✔✔Making any statement, written or oral, that is false or maliciously
critical of the financial condition of an insurance company or a producer
representing that company is illegal.
Rebating - ✔✔Offering valuable consideration, other than that which is offered in
the contract as an inducement to purchase a policy is illegal.
Coercion - ✔✔Forcing a person to buy insurance through a particular company or
producer.
Unfair Discrimination - ✔✔It is illegal to unfairly discriminate between individuals
of the same class and equal life expectancy in the rates, dividends, benefits, or terms
of any life or life annuity contract. Unfairly discriminate between neighborhoods
within a municipality and of essentially the same hazard. Use sexual orientation in
the underwriting process or in the determination of insurability.
A producer cannot share commissions with: - ✔✔Someone that is not a life insurance
agent. Monies may not be commingled with the producer's personal funds.
COPYRIGHT © 2025 BY SOPHIA BENNETT, ALL RIGHTS RESERVED 2
Questions and Answers 100% Pass
Minimum Age to receive a license - ✔✔18
Continuing Education Hours - ✔✔24 Hours every 2 years (3 Hours must be in ethics)
Insurer must respond to claimant communications within how many days? - ✔✔15
days
Commissioner Powers and duties include: - ✔✔Imposing penalties, including fines,
suspensions, and revocations.
All insurance forms (riders, policies, applications, endorsements, and contracts)
must be filed and approved by the Commissioner.
Gramm-Leach-Bliley Act (GLBA) - ✔✔Consumer - An individual about whom a
company collects information is a consumer.
Customer - A customer is a consumer that has developed an ongoing relationship
with a financial institution.
Privacy Notices must explain: - ✔✔What info the company gathers about the
customer.
Where that info is shared
How the company safeguards that info
Fair Credit Reporting Act - ✔✔Responsible for the opt-out opportunity, but the
privacy notice must inform the customer of this right under the GLBA.
COPYRIGHT © 2025 BY SOPHIA BENNETT, ALL RIGHTS RESERVED 1
, Insurance Consultants - ✔✔To become licensed as an insurance consultant, a
producer must have been licensed and actively transacted inurance for at least three
of the four years immediately preceding the application for a consultants license.
License Requirements - ✔✔18 years old at least.
Appointments - ✔✔All producers must be appointed by at least one insurer.
Misrepresentation - ✔✔It is illegal to make any written or oral statement, sales
presentation, or comparison that; misrepresents the dividends, benefits, advantages,
conditions, or terms of any policy.
Example: uses a name of any insurance policy that misrepresents its true nature.
False Advertising - ✔✔It is illegal for any producer to formulate or use an
advertisement or statement that is untrue, deceptive, or misleading regarding any
insurance company or persons associated with that company.
Defamation - ✔✔Making any statement, written or oral, that is false or maliciously
critical of the financial condition of an insurance company or a producer
representing that company is illegal.
Rebating - ✔✔Offering valuable consideration, other than that which is offered in
the contract as an inducement to purchase a policy is illegal.
Coercion - ✔✔Forcing a person to buy insurance through a particular company or
producer.
Unfair Discrimination - ✔✔It is illegal to unfairly discriminate between individuals
of the same class and equal life expectancy in the rates, dividends, benefits, or terms
of any life or life annuity contract. Unfairly discriminate between neighborhoods
within a municipality and of essentially the same hazard. Use sexual orientation in
the underwriting process or in the determination of insurability.
A producer cannot share commissions with: - ✔✔Someone that is not a life insurance
agent. Monies may not be commingled with the producer's personal funds.
COPYRIGHT © 2025 BY SOPHIA BENNETT, ALL RIGHTS RESERVED 2
