Connecticut Life Insurance Exam Questions With 100% Correct
Answers
Verified | Latest
Update
1. What is the purpose of the Connecticut Life and Protects policyowners
Health Insurance Guaranty Association? against insolvent insur-
ance companies
2. If an employer decides to cancel a group life 15
insurance
plan, it must give at least --- days notice to the
em-
ployees prior to the date of cancellation or
discontin-
uation.
3. Rebating is an illegal practice in Con-
necticut
4. G purchased a Family Income policy at age 40. 10 years
The
policy has a 20-year rider period. If G were to
die at
age 50, how long would G's family receive
income?
5. Which provision prevents an insurer from Entire Contract provision
changing
the terms of the contract with the
policyowner by
referring to documents not found within the
policy
itself?
6. A statement made by an insured in an a representation
insurance ap-
plication that must be true to the best of
one's knowl-
edge and which becomes a part of the contract
1/
14
, Connecticut Life Insurance Exam Questions With 100% Correct
Answers
Verified | Latest
Update
is
known as
7. An underwriter determines that an applicant's extra premium
risk
should be recategorized due to a health issue.
This
policy may be issued with a(n)
8. Which of these is an element of a Variable Life A fixed, level premium
policy?
9. Interest only
1/
14
, Connecticut Life Insurance Exam Questions With 100% Correct
Answers
Verified | Latest
Update
All of these Settlement options involve the
systematic liquidation of the death proceeds in
the event of the insured's death EXCEPT
10. Which type of life insurance beneficiary Irrevocable beneficiary
requires his/her consent when a change of
beneficiary is at- tempted by the
policyowner?
Risk classification
11. Which of these terms accurately defines an
under- writer's assessment of information on a
life insurance application?
12. S, age 40, is looking to buy a Life Insurance policy that Universal Life
will allow for increases or decreases in coverage
as his needs change. The policy best suited for S
would be
13. An example of rebating would be returning a portion of
a premium as
inducement to
purchase insurance
14. How are policyowner dividends treated in insur-
regards to income tax? ability
option
15. D owns a Whole Life policy that was purchased that
10 years ago. If the premium payments allows
suddenly stop and D takes no additional him to
action, which Nonforfeiture Option will the purchase,
insurer likely proceed with? without
evidence
16. B owns a Whole Life policy with a guaranteed
of
2/
29
Answers
Verified | Latest
Update
1. What is the purpose of the Connecticut Life and Protects policyowners
Health Insurance Guaranty Association? against insolvent insur-
ance companies
2. If an employer decides to cancel a group life 15
insurance
plan, it must give at least --- days notice to the
em-
ployees prior to the date of cancellation or
discontin-
uation.
3. Rebating is an illegal practice in Con-
necticut
4. G purchased a Family Income policy at age 40. 10 years
The
policy has a 20-year rider period. If G were to
die at
age 50, how long would G's family receive
income?
5. Which provision prevents an insurer from Entire Contract provision
changing
the terms of the contract with the
policyowner by
referring to documents not found within the
policy
itself?
6. A statement made by an insured in an a representation
insurance ap-
plication that must be true to the best of
one's knowl-
edge and which becomes a part of the contract
1/
14
, Connecticut Life Insurance Exam Questions With 100% Correct
Answers
Verified | Latest
Update
is
known as
7. An underwriter determines that an applicant's extra premium
risk
should be recategorized due to a health issue.
This
policy may be issued with a(n)
8. Which of these is an element of a Variable Life A fixed, level premium
policy?
9. Interest only
1/
14
, Connecticut Life Insurance Exam Questions With 100% Correct
Answers
Verified | Latest
Update
All of these Settlement options involve the
systematic liquidation of the death proceeds in
the event of the insured's death EXCEPT
10. Which type of life insurance beneficiary Irrevocable beneficiary
requires his/her consent when a change of
beneficiary is at- tempted by the
policyowner?
Risk classification
11. Which of these terms accurately defines an
under- writer's assessment of information on a
life insurance application?
12. S, age 40, is looking to buy a Life Insurance policy that Universal Life
will allow for increases or decreases in coverage
as his needs change. The policy best suited for S
would be
13. An example of rebating would be returning a portion of
a premium as
inducement to
purchase insurance
14. How are policyowner dividends treated in insur-
regards to income tax? ability
option
15. D owns a Whole Life policy that was purchased that
10 years ago. If the premium payments allows
suddenly stop and D takes no additional him to
action, which Nonforfeiture Option will the purchase,
insurer likely proceed with? without
evidence
16. B owns a Whole Life policy with a guaranteed
of
2/
29
