CONNECTICUT LIFE AND HEALTH STATE EXAM
SIMULATOR
Employees usually receive workers compensation benefits for - Answers - Lost wages
and medical expenses due to on-the-job accidents
What type of employee welfare plans are not subject to ERISA regulations? - Answers
- Church plans
Larry wants to purchase an individual disability income policy to ensure that he will not
experience a lapse in income should he become disabled. He has a two-month wage
continuation benefit from his employer. What should the policy elimination period be for
his individual policy? - Answers - 60 days
John has a criminal record in which he was convicted of a felony that involved
dishonesty. Under Federal law, how would John be able to engage in insurance
transactions? - Answers - Given written consent by the state insurance regulatory
agency
A prospective client was intimidated by a producer to purchase an insurance contract.
The producer could be found guilty of - Answers - Coercion
A life insurance policy that is paid annually must contain a grace period of at least
_____ days. - Answers - 30
An order issued by the commissioner that prohibits a specific practice listed in the order
is called a - Answers - Cease and desist order
The major medical deductible carryover period normally applies to expenses incurred
during the last _____ months of the plan year. - Answers - three
The disability income policy most likely to have been issued on a substandard basis is -
Answers - Non-cancelable with a health condition exclusion rider
Any administrative action taken against a producer MUST be reported to the
commissioner within _____ days. - Answers - 30
Which of the following is an example of defamation? - Answers - A brochure including
an untrue statement regarding a competitor's ability to pay claims
When a ceding insurer transfers a portion of its risk to an assuming insurer on a case by
case basis, this process is referred to as - Answers - Facultative reinsurance
, What is the guaranteed cash value of a whole life insurance policy when the insured
turns 65 years old? - Answers - Less than the policy's face amount
All of these are considered features of whole life insurance EXCEPT - Answers - Initial
premium is lower than for an equivalent amount of term insurance
If one producer provides a referral to another producer which results in the sale of an
insurance contract, who will likely be paid a commission? - Answers - The commission
will likely be shared between the two producers
The health insurance premiums paid for by each partner in a partnership is considered
to be - Answers - 100% tax deductible
Under a key person disability income policy, benefits will be received as - Answers -
tax-free income to the business
When an applicant applies for a large amount of life insurance coverage, which of the
following would likely NOT be an underwriting requirement? - Answers - eye
examination
If an employer pays for accidental death and dismemberment insurance for its
employees, the amount paid by the employer is generally - Answers - tax deductible to
the business
The Guarantee of insurability option provides a long-term care policyowner the ability to
- Answers - buy additional coverage at a later date
A producer sold a life insurance policy but did NOT provide the applicant with a basic
illustration. In this situation, the insurer is REQUIRED to provide the applicant with a
policy summary no later than the - Answers - Policy delivery date
A trustee-to-trustee transfer of rollover funds in a qualified plan allows a participant to
avoid - Answers - mandatory income tax withholding on the amount transferred
Which of the following is NOT included as a hospice benefit under a major medical
plan? - Answers - Rehabilitation
How is a community rating used for underwriting purposes? - Answers - The same
rates are charged for individual and group plans in the same geographical area
A life insurance policy may ONLY be contested by the insurer during the first ________
years of the contract. - Answers - Two
Licensed producers in Connecticut are authorized to - Answers - Solicit, receive, and
forward applications to the insurer
SIMULATOR
Employees usually receive workers compensation benefits for - Answers - Lost wages
and medical expenses due to on-the-job accidents
What type of employee welfare plans are not subject to ERISA regulations? - Answers
- Church plans
Larry wants to purchase an individual disability income policy to ensure that he will not
experience a lapse in income should he become disabled. He has a two-month wage
continuation benefit from his employer. What should the policy elimination period be for
his individual policy? - Answers - 60 days
John has a criminal record in which he was convicted of a felony that involved
dishonesty. Under Federal law, how would John be able to engage in insurance
transactions? - Answers - Given written consent by the state insurance regulatory
agency
A prospective client was intimidated by a producer to purchase an insurance contract.
The producer could be found guilty of - Answers - Coercion
A life insurance policy that is paid annually must contain a grace period of at least
_____ days. - Answers - 30
An order issued by the commissioner that prohibits a specific practice listed in the order
is called a - Answers - Cease and desist order
The major medical deductible carryover period normally applies to expenses incurred
during the last _____ months of the plan year. - Answers - three
The disability income policy most likely to have been issued on a substandard basis is -
Answers - Non-cancelable with a health condition exclusion rider
Any administrative action taken against a producer MUST be reported to the
commissioner within _____ days. - Answers - 30
Which of the following is an example of defamation? - Answers - A brochure including
an untrue statement regarding a competitor's ability to pay claims
When a ceding insurer transfers a portion of its risk to an assuming insurer on a case by
case basis, this process is referred to as - Answers - Facultative reinsurance
, What is the guaranteed cash value of a whole life insurance policy when the insured
turns 65 years old? - Answers - Less than the policy's face amount
All of these are considered features of whole life insurance EXCEPT - Answers - Initial
premium is lower than for an equivalent amount of term insurance
If one producer provides a referral to another producer which results in the sale of an
insurance contract, who will likely be paid a commission? - Answers - The commission
will likely be shared between the two producers
The health insurance premiums paid for by each partner in a partnership is considered
to be - Answers - 100% tax deductible
Under a key person disability income policy, benefits will be received as - Answers -
tax-free income to the business
When an applicant applies for a large amount of life insurance coverage, which of the
following would likely NOT be an underwriting requirement? - Answers - eye
examination
If an employer pays for accidental death and dismemberment insurance for its
employees, the amount paid by the employer is generally - Answers - tax deductible to
the business
The Guarantee of insurability option provides a long-term care policyowner the ability to
- Answers - buy additional coverage at a later date
A producer sold a life insurance policy but did NOT provide the applicant with a basic
illustration. In this situation, the insurer is REQUIRED to provide the applicant with a
policy summary no later than the - Answers - Policy delivery date
A trustee-to-trustee transfer of rollover funds in a qualified plan allows a participant to
avoid - Answers - mandatory income tax withholding on the amount transferred
Which of the following is NOT included as a hospice benefit under a major medical
plan? - Answers - Rehabilitation
How is a community rating used for underwriting purposes? - Answers - The same
rates are charged for individual and group plans in the same geographical area
A life insurance policy may ONLY be contested by the insurer during the first ________
years of the contract. - Answers - Two
Licensed producers in Connecticut are authorized to - Answers - Solicit, receive, and
forward applications to the insurer
