CCHI Spanish Interpreting Exam
C: The insurer will deny J's request to add more insurance. - questions and answersJ
has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd
birthday and realizes that she wants to use her rider and buy more death benefit. Which
of the following will apply to J's request?
A: The insurer will allow J to add more insurance without proving insurability.
B: The insurer will allow J to add more insurance pending a paramedical exam.
C: The insurer will deny J's request to add more insurance.
D: The insurer will allow J to add more coverage pending proof of insurability and extra
premium.
C: After the first six months of disability - questions and answersAn insured has a policy
with a Waiver of Premium rider. The insured has suffered an illness that will prevent
them for working for two years. When will their premiums be waived?
A: Immediately
B: After the first nine months of disability
C: After the first six months of disability
D: Never, premiums cannot be waived because illness is not a disability.
A: Insuring Agreement - questions and answersThe clause that defines and describes
the scope of coverage and the limits of indemnification is known as the:
A: Insuring Agreement
B: Incontestable Clause
C: Payor Clause
D: Entire Contract Clause
A: a life settlement - questions and answersD has just paid off his mortgage and has
decided that he no longer needs his life insurance policy which he originally purchased
to cover the house payments should he die. If D explores the possibly of selling his
policy while he is still alive, it is known as:
A: a life settlement
B: an annuity
C: a Viatical settlement
D: STOLI
,B: Two or More lives under one contract - questions and answersCombination/Variation
Plans insure:
A: Groups
B: Two or More lives under one contract
C: Two or more people under separate contracts
D: are a form of variable life insurance
B: The dividend is paid tax free - questions and answersWhat is the tax consideration
for taking a cash dividend option?
A: The dividend is fully taxable as income
B: The dividend is paid tax free
C: Depending on income bracket of the insured, the dividend may be taxable
D: If the company gets to keep half of the dividend it is take free
D: A policy can be renewed, however, the insured must convert to a different policy. -
questions and answersWhich of the following is not true regarding a renewable option
on a term policy?
A: The policy must be renewed regardless of insurability.
B: The rates cannot be more than standard rates at renewal.
C: Premiums are based off of attained age rates.
D: A policy can be renewed, however, the insured must convert to a different policy.
C: Copy of the Application - questions and answersWhich of the following is considered
to be part of the Entire Contract?
A: Declarations Page
B: Buyers Guide
C: Copy of the Application
D: All of the Above
C: Business Entity Plan - questions and answersCompany A has a partnership with
Company Z. There is an agreement in place that if the CEO of either company were to
die, the other company would receive money to buy out the partnership. This is an
example of:
A: Buy/Sell Agreement
B: Crosse Purchase plan
C: Business Entity Plan
D: Key Person
,C: The Association is comprised of All member insurers and have a right to end
membership while still transacting business in IL - questions and answersAll of the
following are true regarding the Guaranty Association EXCEPT:
A: A claimant may receive less benefits than what they had from a policy.
B: The Association is comprised of All member insurers
C: The Association is comprised of All member insurers and have a right to end
membership while still transacting business in IL
D: There is a $250,000 limit on the present value of annuity benefits.
D: None of the Above - questions and answersG has a credit life policy and is replacing
that with a whole life policy. The agent must:
A: formally replace coverage and include all forms to the insured
B: notify the existing insurer with a notice regarding replacement form
C: sign the application and forward all signed documents to the replacing insurer to
send to the existing insurer
D: None of the Above
B: Supplying brochures to claimants that indicate a competitor is in a precarious
financial position. - questions and answersEach of the following is an unfair claims
practice by an insurance company, EXCEPT:
A: Failing to acknowledging important communications regarding claims filed in a timely
manner.
B: Supplying brochures to claimants that indicate a competitor is in a precarious
financial position.
C: Purposefully misrepresenting important policy coverage and provisions to all
claimants.
D: Not supplying claims forms with proper instructions regarding their completion.
A: they survive the transfer of ownership of an insurance company who sponsored the
licensee. - questions and answersAll of the following statements pertaining to a
temporary license are true, EXCEPT:
A: they survive the transfer of ownership of an insurance company who sponsored the
licensee.
B: the fee is $50.
C: the Director may limit them in any manner in order to protect the public.
D: a licensed sponsor may be required.
, D: sell a new policy to an existing client. - questions and answersA Temporary License
(180 days) allows the holder to engage in all of the following activities, EXCEPT:
A: a surviving spouse of a producer can use the authority to help effect the sale of the
insurance business.
B: make certain that insureds are paying renewal premiums in a timely manner.
C: ask the Director to extend the authority if an anticipated agency sale is taking longer
than 180 days.
D: sell a new policy to an existing client.
A: 10 days - questions and answersThe subject of a market conduct examination for
non-financial matters may request a hearing within how many days after receiving the
examination report?
A: 10 days
B: 15 days
C: 20 days
D: 30 days
A: A producer places a one million dollar life policy on the life of his employer -
questions and answersWhich of the following sales is classified as controlled business?
A: A producer places a one million dollar life policy on the life of his employer
B: A producer places a one million dollar life policy on the life of his son
C: A producer places a one million dollar life policy on the life of his niece
D: A producer places a one million dollar life policy on the life of his neighbor
B: $180 every two years - questions and answersThe resident licensing fee for a
Limited Lines Car Rental license is
A: $50 every year
B: $180 every two years
C: $50 every two years
D: $250 every year.
A: A producer license suspension is for a period of time deemed appropriate by the
Director. - questions and answersWhat is the maximum length of time a producer
license can be suspended by the Director?
A: A producer license suspension is for a period of time deemed appropriate by the
Director.
C: The insurer will deny J's request to add more insurance. - questions and answersJ
has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd
birthday and realizes that she wants to use her rider and buy more death benefit. Which
of the following will apply to J's request?
A: The insurer will allow J to add more insurance without proving insurability.
B: The insurer will allow J to add more insurance pending a paramedical exam.
C: The insurer will deny J's request to add more insurance.
D: The insurer will allow J to add more coverage pending proof of insurability and extra
premium.
C: After the first six months of disability - questions and answersAn insured has a policy
with a Waiver of Premium rider. The insured has suffered an illness that will prevent
them for working for two years. When will their premiums be waived?
A: Immediately
B: After the first nine months of disability
C: After the first six months of disability
D: Never, premiums cannot be waived because illness is not a disability.
A: Insuring Agreement - questions and answersThe clause that defines and describes
the scope of coverage and the limits of indemnification is known as the:
A: Insuring Agreement
B: Incontestable Clause
C: Payor Clause
D: Entire Contract Clause
A: a life settlement - questions and answersD has just paid off his mortgage and has
decided that he no longer needs his life insurance policy which he originally purchased
to cover the house payments should he die. If D explores the possibly of selling his
policy while he is still alive, it is known as:
A: a life settlement
B: an annuity
C: a Viatical settlement
D: STOLI
,B: Two or More lives under one contract - questions and answersCombination/Variation
Plans insure:
A: Groups
B: Two or More lives under one contract
C: Two or more people under separate contracts
D: are a form of variable life insurance
B: The dividend is paid tax free - questions and answersWhat is the tax consideration
for taking a cash dividend option?
A: The dividend is fully taxable as income
B: The dividend is paid tax free
C: Depending on income bracket of the insured, the dividend may be taxable
D: If the company gets to keep half of the dividend it is take free
D: A policy can be renewed, however, the insured must convert to a different policy. -
questions and answersWhich of the following is not true regarding a renewable option
on a term policy?
A: The policy must be renewed regardless of insurability.
B: The rates cannot be more than standard rates at renewal.
C: Premiums are based off of attained age rates.
D: A policy can be renewed, however, the insured must convert to a different policy.
C: Copy of the Application - questions and answersWhich of the following is considered
to be part of the Entire Contract?
A: Declarations Page
B: Buyers Guide
C: Copy of the Application
D: All of the Above
C: Business Entity Plan - questions and answersCompany A has a partnership with
Company Z. There is an agreement in place that if the CEO of either company were to
die, the other company would receive money to buy out the partnership. This is an
example of:
A: Buy/Sell Agreement
B: Crosse Purchase plan
C: Business Entity Plan
D: Key Person
,C: The Association is comprised of All member insurers and have a right to end
membership while still transacting business in IL - questions and answersAll of the
following are true regarding the Guaranty Association EXCEPT:
A: A claimant may receive less benefits than what they had from a policy.
B: The Association is comprised of All member insurers
C: The Association is comprised of All member insurers and have a right to end
membership while still transacting business in IL
D: There is a $250,000 limit on the present value of annuity benefits.
D: None of the Above - questions and answersG has a credit life policy and is replacing
that with a whole life policy. The agent must:
A: formally replace coverage and include all forms to the insured
B: notify the existing insurer with a notice regarding replacement form
C: sign the application and forward all signed documents to the replacing insurer to
send to the existing insurer
D: None of the Above
B: Supplying brochures to claimants that indicate a competitor is in a precarious
financial position. - questions and answersEach of the following is an unfair claims
practice by an insurance company, EXCEPT:
A: Failing to acknowledging important communications regarding claims filed in a timely
manner.
B: Supplying brochures to claimants that indicate a competitor is in a precarious
financial position.
C: Purposefully misrepresenting important policy coverage and provisions to all
claimants.
D: Not supplying claims forms with proper instructions regarding their completion.
A: they survive the transfer of ownership of an insurance company who sponsored the
licensee. - questions and answersAll of the following statements pertaining to a
temporary license are true, EXCEPT:
A: they survive the transfer of ownership of an insurance company who sponsored the
licensee.
B: the fee is $50.
C: the Director may limit them in any manner in order to protect the public.
D: a licensed sponsor may be required.
, D: sell a new policy to an existing client. - questions and answersA Temporary License
(180 days) allows the holder to engage in all of the following activities, EXCEPT:
A: a surviving spouse of a producer can use the authority to help effect the sale of the
insurance business.
B: make certain that insureds are paying renewal premiums in a timely manner.
C: ask the Director to extend the authority if an anticipated agency sale is taking longer
than 180 days.
D: sell a new policy to an existing client.
A: 10 days - questions and answersThe subject of a market conduct examination for
non-financial matters may request a hearing within how many days after receiving the
examination report?
A: 10 days
B: 15 days
C: 20 days
D: 30 days
A: A producer places a one million dollar life policy on the life of his employer -
questions and answersWhich of the following sales is classified as controlled business?
A: A producer places a one million dollar life policy on the life of his employer
B: A producer places a one million dollar life policy on the life of his son
C: A producer places a one million dollar life policy on the life of his niece
D: A producer places a one million dollar life policy on the life of his neighbor
B: $180 every two years - questions and answersThe resident licensing fee for a
Limited Lines Car Rental license is
A: $50 every year
B: $180 every two years
C: $50 every two years
D: $250 every year.
A: A producer license suspension is for a period of time deemed appropriate by the
Director. - questions and answersWhat is the maximum length of time a producer
license can be suspended by the Director?
A: A producer license suspension is for a period of time deemed appropriate by the
Director.
