TENNESSEE LIFE AND HEALTH INSURANCE EXAMINATION 2025
QUESTIONS WITH ANSWERS GUARANTEE A+
✔✔Decreasing term insurance - ✔✔Julie has a $100,000 30 year mortgage on her new
home. What type of life insurance could she purchase that is designed to pay off the
loan balance if she dies within the 30 year period?
✔✔Liable for the loss - ✔✔An insured was injured as an innocent bystander when
someone committed a felony. The insurer is
✔✔An injury occurring at the insured's residence - ✔✔Medical expense insurance
would cover
✔✔When becoming eligible for medicare - ✔✔An individual can enroll in a Part C
Medicare Advantage Plan at what time?
✔✔100% of costs - ✔✔Sole proprietors are permitted tax deductions for health costs
paid from their earnings in the amount of
✔✔Claim will be paid if application is approved - ✔✔What would happen if a life
insurance applicant is given a conditional receipt from an insurance agent and then dies
the next day?
✔✔seeks temporary protection and lower premiums - ✔✔Term insurance is appropriate
for someone who
✔✔Individual - ✔✔Which type of beneficiary should be named if the insured wants to
give explicit directions on how the policy proceeds should be paid?
✔✔Policy Ownership - ✔✔Which of the following would evidence ownership in a
participating health insurance contract?
✔✔Group HMO - ✔✔An HMO that involves a partnership of physicians and other
providers who practice out of a central facility is called a(n)
✔✔7 days - ✔✔In South Carolina, health policies that are paid less frequent than
monthly must provide a grace period of at least
✔✔2 years - ✔✔An insurance policy may NOT be cancelled by the insurer (except for
fraud) after ____ year(s) from policy issue.
✔✔Poor People - ✔✔Medicaid is a government funded program designed to provide
health care to
✔✔Warranty
, *a warranty is considered a statement of fact or something guaranteed to be true.
Breach of warranties can be considered grounds for voiding the policy. - ✔✔What
guarantees that the statements supplied by an insurance applicant are true?
✔✔Age - ✔✔An error was made on Mary's life insurance application. Which of the
following areas do errors commonly occur on applications and for which the
incontestable clause does NOT apply?
✔✔Equity indexed annuity - ✔✔Which of the following is an annuity that is linked to a
market related index?
✔✔Fair Credit Reporting Act - ✔✔An insurance company needs to obtain personal
information from a third party concerning an applicant. Which law do all insurers and
their producers need to comply with?
✔✔$2,500 - ✔✔According to the Affordable Care Act, what is the maximum amount an
individual can contribute to a Flexible Savings Account
✔✔Estate Conservation - ✔✔Craig purchased a life insurance policy for enabling his
heirs to pay estate taxes. What is this called?
✔✔Accept payments based upon a defined Medicare schedule as payment in full -
✔✔A medical provider that accepts Medicare Assignment must
✔✔Viatical Settlement contract - ✔✔A policyowner can receive an immediate payment
before the insured dies by using a(n)
✔✔Family term insurance rider - ✔✔Which of these riders will pay a death benefit if the
insured's spouse dies?
✔✔revoke an absolute assignment - ✔✔A life insurance policyowner does NOT have
the right to
✔✔application - ✔✔The entire contract includes the actual policy and the
✔✔payor rider - ✔✔A rider that assures premiums will be paid on a juvenile policy until
the child reaches a specific age is called a(n)
✔✔The benefit can be offered as a rider at a specific extra cost or may be at no cost -
✔✔Which of these is NOT a characteristic of the Accelerated Death Benefit option?
✔✔provides a greater choice of providers
QUESTIONS WITH ANSWERS GUARANTEE A+
✔✔Decreasing term insurance - ✔✔Julie has a $100,000 30 year mortgage on her new
home. What type of life insurance could she purchase that is designed to pay off the
loan balance if she dies within the 30 year period?
✔✔Liable for the loss - ✔✔An insured was injured as an innocent bystander when
someone committed a felony. The insurer is
✔✔An injury occurring at the insured's residence - ✔✔Medical expense insurance
would cover
✔✔When becoming eligible for medicare - ✔✔An individual can enroll in a Part C
Medicare Advantage Plan at what time?
✔✔100% of costs - ✔✔Sole proprietors are permitted tax deductions for health costs
paid from their earnings in the amount of
✔✔Claim will be paid if application is approved - ✔✔What would happen if a life
insurance applicant is given a conditional receipt from an insurance agent and then dies
the next day?
✔✔seeks temporary protection and lower premiums - ✔✔Term insurance is appropriate
for someone who
✔✔Individual - ✔✔Which type of beneficiary should be named if the insured wants to
give explicit directions on how the policy proceeds should be paid?
✔✔Policy Ownership - ✔✔Which of the following would evidence ownership in a
participating health insurance contract?
✔✔Group HMO - ✔✔An HMO that involves a partnership of physicians and other
providers who practice out of a central facility is called a(n)
✔✔7 days - ✔✔In South Carolina, health policies that are paid less frequent than
monthly must provide a grace period of at least
✔✔2 years - ✔✔An insurance policy may NOT be cancelled by the insurer (except for
fraud) after ____ year(s) from policy issue.
✔✔Poor People - ✔✔Medicaid is a government funded program designed to provide
health care to
✔✔Warranty
, *a warranty is considered a statement of fact or something guaranteed to be true.
Breach of warranties can be considered grounds for voiding the policy. - ✔✔What
guarantees that the statements supplied by an insurance applicant are true?
✔✔Age - ✔✔An error was made on Mary's life insurance application. Which of the
following areas do errors commonly occur on applications and for which the
incontestable clause does NOT apply?
✔✔Equity indexed annuity - ✔✔Which of the following is an annuity that is linked to a
market related index?
✔✔Fair Credit Reporting Act - ✔✔An insurance company needs to obtain personal
information from a third party concerning an applicant. Which law do all insurers and
their producers need to comply with?
✔✔$2,500 - ✔✔According to the Affordable Care Act, what is the maximum amount an
individual can contribute to a Flexible Savings Account
✔✔Estate Conservation - ✔✔Craig purchased a life insurance policy for enabling his
heirs to pay estate taxes. What is this called?
✔✔Accept payments based upon a defined Medicare schedule as payment in full -
✔✔A medical provider that accepts Medicare Assignment must
✔✔Viatical Settlement contract - ✔✔A policyowner can receive an immediate payment
before the insured dies by using a(n)
✔✔Family term insurance rider - ✔✔Which of these riders will pay a death benefit if the
insured's spouse dies?
✔✔revoke an absolute assignment - ✔✔A life insurance policyowner does NOT have
the right to
✔✔application - ✔✔The entire contract includes the actual policy and the
✔✔payor rider - ✔✔A rider that assures premiums will be paid on a juvenile policy until
the child reaches a specific age is called a(n)
✔✔The benefit can be offered as a rider at a specific extra cost or may be at no cost -
✔✔Which of these is NOT a characteristic of the Accelerated Death Benefit option?
✔✔provides a greater choice of providers
