LAWS AND RULES PERTINENT TO INSURANCE
LATEST EXAM 2025-2026 WITH 75 QUESTIONS
AND 100% CORRECT ANSWERS | MCQS |
ALREADY GRADED A+ | GUARANTEED
SUCCESS | LAWS AND RULES PERTINENT TO
INSURANCE FINAL EXAM
A policy illustration given at time of sale does NOT typically include the:
cash value of the policy
names of the beneficiary
effective interest rate for policy loans
10th and 20th year cost surrender value - ANSWER-Names of the beneficiary
Someone who sells, solicits, or negotiates insurance contracts for compensation on
behalf of an insurer is called:
an insurance broker
an insurance producer
an insurance advisor
an insurance solicitor - ANSWER-an insurance producer
How many years is a producer REQUIRED to maintain transaction records of a
policy?
,3 years
5 years
7 years
10 years - ANSWER-5 years
According to the Affordable Care Act, what metal tier is required to have an
actuarial value of 70% with covered individuals paying 30% through deductibles,
co-pays, and other cost sharing features?
Bronze Plan
Silver Plan
Gold Plan
Platinum Plan - ANSWER-Silver plan
When a life insurance policy is issued to replace another life insurance policy,
which of the following does NOT need to be provided to the purchaser at or before
the time the policy is delivered?
Disclosure Statement
The replacing insurer's financial statements
A policy summary
A copy of the most recent buyer's guide - ANSWER-The replacing insurer's
financial statements
With respect to small group health benefit plans, a carrier may discontinue
coverage or may refuse to renew such a plan if the employer:
employ fewer than 15 full-time employees
has filed for bankruptcy in the prior year
has a supplemental plan with a competing carrier
, fails to pay the premium prior to the end of the grace period - ANSWER-Fails to
pay the premium prior to the end of the grace period
Which one of the following statements regarding an examination of an insurer's
books and records by the Director is TRUE?
An insurer has a right to delay an examination by the Director for a period of not
more than 15 days after notification
The Director only has the authority to examine domestic insurers
Reports related to solicitors are not official records archived from insurance
examinations
The insurer must not impede an examination and is required to assist in the
examination procedures - ANSWER-The insurer must not impede in an
examination and is required to assist in the examination procedures.
A hospital or medical expense policy will typically cover dental treatment
expenses under which circumstance?
After the annual limit of a dental policy's coverage is reached
Dental treatment is needed to repair an injury
Cosmetic dental treatment is performed
If treatment is performed at a in-network provider - ANSWER-Dental treatment is
needed to repair an injury
A form of medical health insurance covering the treatment and care of gum disease
is called:
Medicaid
Major Medical
Franchise health policy
Dental expense insurance - ANSWER-Dental expense insurance
LATEST EXAM 2025-2026 WITH 75 QUESTIONS
AND 100% CORRECT ANSWERS | MCQS |
ALREADY GRADED A+ | GUARANTEED
SUCCESS | LAWS AND RULES PERTINENT TO
INSURANCE FINAL EXAM
A policy illustration given at time of sale does NOT typically include the:
cash value of the policy
names of the beneficiary
effective interest rate for policy loans
10th and 20th year cost surrender value - ANSWER-Names of the beneficiary
Someone who sells, solicits, or negotiates insurance contracts for compensation on
behalf of an insurer is called:
an insurance broker
an insurance producer
an insurance advisor
an insurance solicitor - ANSWER-an insurance producer
How many years is a producer REQUIRED to maintain transaction records of a
policy?
,3 years
5 years
7 years
10 years - ANSWER-5 years
According to the Affordable Care Act, what metal tier is required to have an
actuarial value of 70% with covered individuals paying 30% through deductibles,
co-pays, and other cost sharing features?
Bronze Plan
Silver Plan
Gold Plan
Platinum Plan - ANSWER-Silver plan
When a life insurance policy is issued to replace another life insurance policy,
which of the following does NOT need to be provided to the purchaser at or before
the time the policy is delivered?
Disclosure Statement
The replacing insurer's financial statements
A policy summary
A copy of the most recent buyer's guide - ANSWER-The replacing insurer's
financial statements
With respect to small group health benefit plans, a carrier may discontinue
coverage or may refuse to renew such a plan if the employer:
employ fewer than 15 full-time employees
has filed for bankruptcy in the prior year
has a supplemental plan with a competing carrier
, fails to pay the premium prior to the end of the grace period - ANSWER-Fails to
pay the premium prior to the end of the grace period
Which one of the following statements regarding an examination of an insurer's
books and records by the Director is TRUE?
An insurer has a right to delay an examination by the Director for a period of not
more than 15 days after notification
The Director only has the authority to examine domestic insurers
Reports related to solicitors are not official records archived from insurance
examinations
The insurer must not impede an examination and is required to assist in the
examination procedures - ANSWER-The insurer must not impede in an
examination and is required to assist in the examination procedures.
A hospital or medical expense policy will typically cover dental treatment
expenses under which circumstance?
After the annual limit of a dental policy's coverage is reached
Dental treatment is needed to repair an injury
Cosmetic dental treatment is performed
If treatment is performed at a in-network provider - ANSWER-Dental treatment is
needed to repair an injury
A form of medical health insurance covering the treatment and care of gum disease
is called:
Medicaid
Major Medical
Franchise health policy
Dental expense insurance - ANSWER-Dental expense insurance
