CISR LIFE HEALTH PRACTICE EXAM 1
UPDATED ACTUAL Exam Questions and
CORRECT Answers
While reviewing several proposals for a quote for a life insurance policy for one of you clients,
you also review the temporary insuring agreements. You notice that there are variations in the
temporary insuring agreements between companies. Which of the following is NOT included in
any of these agreements? - CORRECT ANSWER - Receipt of premium
Jennifer has a $5,000 loan against the cash value of her whole life policy. She receives her
annual premium statement and it includes an additional charge of $250 for interest on the loan.
Jennifer just pays the premium and not the additional interest. What happens to the interest
charge? - CORRECT ANSWER - It is added to the loan.
If a policy is issued with a preferred rating, what will a new policy rating be if it is issued
through a guarantee issue rider option? - CORRECT ANSWER - Preferred (no medical
underwriting)
Which policy offering guarantees a benefit no matter your age at death? - CORRECT
ANSWER - Whole life insurance
Frank is asking about a $1,000,000 ten-year term policy. He is concerned that after ten years he
will have no coverage and wants to know if he has any options after the ten-year period is over.
Name a policy provision that could give Frank options. - CORRECT ANSWER -
Guaranteed convertible provision
Paul has a whole life policy that has been in force for 10 years. he stops paying the premium and
the non-forfeiture provision begins. If Paul makes no election of benefits, which automatic non-
forfeiture option will the insurance company use? - CORRECT ANSWER - Extended term
insurance
UPDATED ACTUAL Exam Questions and
CORRECT Answers
While reviewing several proposals for a quote for a life insurance policy for one of you clients,
you also review the temporary insuring agreements. You notice that there are variations in the
temporary insuring agreements between companies. Which of the following is NOT included in
any of these agreements? - CORRECT ANSWER - Receipt of premium
Jennifer has a $5,000 loan against the cash value of her whole life policy. She receives her
annual premium statement and it includes an additional charge of $250 for interest on the loan.
Jennifer just pays the premium and not the additional interest. What happens to the interest
charge? - CORRECT ANSWER - It is added to the loan.
If a policy is issued with a preferred rating, what will a new policy rating be if it is issued
through a guarantee issue rider option? - CORRECT ANSWER - Preferred (no medical
underwriting)
Which policy offering guarantees a benefit no matter your age at death? - CORRECT
ANSWER - Whole life insurance
Frank is asking about a $1,000,000 ten-year term policy. He is concerned that after ten years he
will have no coverage and wants to know if he has any options after the ten-year period is over.
Name a policy provision that could give Frank options. - CORRECT ANSWER -
Guaranteed convertible provision
Paul has a whole life policy that has been in force for 10 years. he stops paying the premium and
the non-forfeiture provision begins. If Paul makes no election of benefits, which automatic non-
forfeiture option will the insurance company use? - CORRECT ANSWER - Extended term
insurance
