200 /
question
/ /
PA
/ /
Life
/ /
and
/ /
Health
/ /
State
/ /
Exam
/ /
Simulator Questions With Correct Answers
/ // // // //
Under //
a/
/modified /
/endowment /
/contract, //what //are //the //likely //tax //consequences? //- //CORRECT //ANSWERS(S)✔✔Pre-
death //distributions //will //become //taxable
An /
/interest /
/sensitive /
/life /
/insurance /
/policy /
/owner /
/may /
,/be /
/able /
/to /
/withdraw /
/the /
/policy's /
/cash /
/value /
/interest. /
/The /
/free //provision //that //allows //this //is //called //- //CORRECT //ANSWERS(S)✔✔Partial //Surrender
In /
/contrast /
/to //
a/
/guaranteed /
/renewable /
/policy, //a //noncancelable //policy //- //CORRECT //ANSWERS(S)✔✔may //never //raise //premiums
Written /
/notice /
/for //
a/
/health /
/claim /
/must /
/be /
/given /
/to //the //insurer //___ //days //after //the //occurrence //of //the //loss. //- //CORRECT //ANSWERS(S)✔✔20
Benefits /
/provided /
/by //
a/
,/Medicare /
/Supplement //policy //must //NOT //- //CORRECT //ANSWERS(S)✔✔duplicate //Medicare //benefits
The /
/commissioner /
/has //the //right //and //duty //to //- //CORRECT //ANSWERS(S)✔✔audit //insurer //financial //reports //and
//conduct //market //studies
Peter /
/has //
a/
/policy /
/where /
/80% /
/to /
/90% /
/of /
/the /
/premium /
/is /
/invested /
/in /
/traditional /
/fixed /
/income /
/securities /
/and /
/the /
/remainder /
/of /
/the /
/premium /
/is /
/invested /
/in /
/contracts /
, /tied /
/to //
a/
/stipulated /
/stock /
/index. //What //kind //of //policy //is //this? //- //CORRECT //ANSWERS(S)✔✔Equity //index //whole //life
Long-
term /
/care /
/policy /
/sold /
/in /
/Pennsylvania /
/may //exclude //coverage //related //to //- //CORRECT //ANSWERS(S)✔✔Substance //addictions
Which /
/of /
/the /
/following /
/nursing /
/home /
/options /
/would /
/best //suit //an //individual //who //needs //some //nursing //care //and //supervision, //but //not //full-
time //care //- //CORRECT //ANSWERS(S)✔✔assisted //living //facilities
A/
/producer /
/who /
/offers /
/10% /
/of /
/his /
/commission /
question
/ /
PA
/ /
Life
/ /
and
/ /
Health
/ /
State
/ /
Exam
/ /
Simulator Questions With Correct Answers
/ // // // //
Under //
a/
/modified /
/endowment /
/contract, //what //are //the //likely //tax //consequences? //- //CORRECT //ANSWERS(S)✔✔Pre-
death //distributions //will //become //taxable
An /
/interest /
/sensitive /
/life /
/insurance /
/policy /
/owner /
/may /
,/be /
/able /
/to /
/withdraw /
/the /
/policy's /
/cash /
/value /
/interest. /
/The /
/free //provision //that //allows //this //is //called //- //CORRECT //ANSWERS(S)✔✔Partial //Surrender
In /
/contrast /
/to //
a/
/guaranteed /
/renewable /
/policy, //a //noncancelable //policy //- //CORRECT //ANSWERS(S)✔✔may //never //raise //premiums
Written /
/notice /
/for //
a/
/health /
/claim /
/must /
/be /
/given /
/to //the //insurer //___ //days //after //the //occurrence //of //the //loss. //- //CORRECT //ANSWERS(S)✔✔20
Benefits /
/provided /
/by //
a/
,/Medicare /
/Supplement //policy //must //NOT //- //CORRECT //ANSWERS(S)✔✔duplicate //Medicare //benefits
The /
/commissioner /
/has //the //right //and //duty //to //- //CORRECT //ANSWERS(S)✔✔audit //insurer //financial //reports //and
//conduct //market //studies
Peter /
/has //
a/
/policy /
/where /
/80% /
/to /
/90% /
/of /
/the /
/premium /
/is /
/invested /
/in /
/traditional /
/fixed /
/income /
/securities /
/and /
/the /
/remainder /
/of /
/the /
/premium /
/is /
/invested /
/in /
/contracts /
, /tied /
/to //
a/
/stipulated /
/stock /
/index. //What //kind //of //policy //is //this? //- //CORRECT //ANSWERS(S)✔✔Equity //index //whole //life
Long-
term /
/care /
/policy /
/sold /
/in /
/Pennsylvania /
/may //exclude //coverage //related //to //- //CORRECT //ANSWERS(S)✔✔Substance //addictions
Which /
/of /
/the /
/following /
/nursing /
/home /
/options /
/would /
/best //suit //an //individual //who //needs //some //nursing //care //and //supervision, //but //not //full-
time //care //- //CORRECT //ANSWERS(S)✔✔assisted //living //facilities
A/
/producer /
/who /
/offers /
/10% /
/of /
/his /
/commission /
