10/15/25, 9:06 AM 214 License EXAM comprehensive questions | FREQUENTLY MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET I…
214 License EXAM comprehensive questions |
FREQUENTLY MOST TESTED QUESTIONS AND
VERIFIED SOLUTIONS/GET IT 100% ACCURATE!!
214 License Exam Pearson Vue
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Practice questions for this set
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Terms in this set (147)
Which of the following Policyowners are entitled to receive dividends
describes a participating
insurance policy?
https://quizlet.com/1093063196/214-license-exam-comprehensive-questions-frequently-most-tested-questions-and-verified-solutionsget-it-100-accura… 1/18
,10/15/25, 9:06 AM 214 License EXAM comprehensive questions | FREQUENTLY MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET I…
At what point must a life Upon completion of the application
insurance applicant be
informed of their rights
that fall under the Fair
Credit Reporting Act?
Dividends payable to a Declared by the insurance company.
policyowner are:
At what point does an When consideration is provided by one of the parties
informal agreement to the contract
become a binding
contract?
When third-party Insurable interest in the proposed insured
ownership is involved,
applicants who also
happen to be the stated
primary beneficiary are
required to have
Which of the following (STOLI) or Investor Originated Life Insurance
arrangements allows one
to bypass insurable
interest laws?
Taking receipt of Fiduciary Responsibility
premiums and holding
them for the insurance
company is an example of
A policy of adhesion can The Insurance Company
only be modified by
whom?
The exchange of unequal Aleatory
values reflects:
Life and health insurance Unilateral Contracts (one makes promise, other can
policies are only accept by performance
https://quizlet.com/1093063196/214-license-exam-comprehensive-questions-frequently-most-tested-questions-and-verified-solutionsget-it-100-accura… 2/18
, 10/15/25, 9:06 AM 214 License EXAM comprehensive questions | FREQUENTLY MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET I…
The consideration clause The schedule and amount of premium payments
of insurance contract
includes
A life insurance Investor Originated Life Insurance (IOLI)
arrangement which
circumvents insurable
interest values is called
Who makes the legally The Insurance Company
enforceable promises in a
unilateral contract?
A life insurance policy Insurable Interest
would be considered a
wagering contract
WITHOUT:
A life insurance policy that Whole Life Policy
provides a policyowner
with cash value along with
a level face amount is
called:
Who benefits in Investor- the Policyowner(investor)
Originated Life Insurance
(IOLI) when the insured
dies?
https://quizlet.com/1093063196/214-license-exam-comprehensive-questions-frequently-most-tested-questions-and-verified-solutionsget-it-100-accura… 3/18
214 License EXAM comprehensive questions |
FREQUENTLY MOST TESTED QUESTIONS AND
VERIFIED SOLUTIONS/GET IT 100% ACCURATE!!
214 License Exam Pearson Vue
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (147)
Which of the following Policyowners are entitled to receive dividends
describes a participating
insurance policy?
https://quizlet.com/1093063196/214-license-exam-comprehensive-questions-frequently-most-tested-questions-and-verified-solutionsget-it-100-accura… 1/18
,10/15/25, 9:06 AM 214 License EXAM comprehensive questions | FREQUENTLY MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET I…
At what point must a life Upon completion of the application
insurance applicant be
informed of their rights
that fall under the Fair
Credit Reporting Act?
Dividends payable to a Declared by the insurance company.
policyowner are:
At what point does an When consideration is provided by one of the parties
informal agreement to the contract
become a binding
contract?
When third-party Insurable interest in the proposed insured
ownership is involved,
applicants who also
happen to be the stated
primary beneficiary are
required to have
Which of the following (STOLI) or Investor Originated Life Insurance
arrangements allows one
to bypass insurable
interest laws?
Taking receipt of Fiduciary Responsibility
premiums and holding
them for the insurance
company is an example of
A policy of adhesion can The Insurance Company
only be modified by
whom?
The exchange of unequal Aleatory
values reflects:
Life and health insurance Unilateral Contracts (one makes promise, other can
policies are only accept by performance
https://quizlet.com/1093063196/214-license-exam-comprehensive-questions-frequently-most-tested-questions-and-verified-solutionsget-it-100-accura… 2/18
, 10/15/25, 9:06 AM 214 License EXAM comprehensive questions | FREQUENTLY MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET I…
The consideration clause The schedule and amount of premium payments
of insurance contract
includes
A life insurance Investor Originated Life Insurance (IOLI)
arrangement which
circumvents insurable
interest values is called
Who makes the legally The Insurance Company
enforceable promises in a
unilateral contract?
A life insurance policy Insurable Interest
would be considered a
wagering contract
WITHOUT:
A life insurance policy that Whole Life Policy
provides a policyowner
with cash value along with
a level face amount is
called:
Who benefits in Investor- the Policyowner(investor)
Originated Life Insurance
(IOLI) when the insured
dies?
https://quizlet.com/1093063196/214-license-exam-comprehensive-questions-frequently-most-tested-questions-and-verified-solutionsget-it-100-accura… 3/18
