Final Exam PA Life, Health and
Accident ACTUAL exam:
QUESTION AND ANSWERS
UPDATED 2026 LATEST
Which of these factors is NOT taken into consideration when determining the cost
of a long-term care policy? - ANSWER-Personal Income
What is the nonforfeiture value of an annuity before annuitization? - ANSWER-All
premiums paid, plus interest, minus any withdrawals and surrender charges
In an employer sponsored contributory group disability income plan the employer
pays 60% of the premium and each employee pays 40% of the premium. Any
income benefits paid are taxed to the employee at? - ANSWER-60%
Premium mode is a term used to describe the? - ANSWER-Frequency of the
premium payment
A master contract and certificate of coverage can be found in which type of
policy? - ANSWER-Group
,With a scheduled dental policy, how are covered expenses paid? - ANSWER-
Benefits are limited to a specific maximum dollar amount per procedure
All of the following are included as a part of a contract in the entire contract
provision EXPECT the? - ANSWER-Change made by the producer
A securities license is required for a life insurance producer to sell - ANSWER-
Variable life insurance
Under a disability income policy, which provision would be payable if the cause of
an injury is unexpected and accidental? - ANSWER-Accidental bodily injury
provision
Under a life insurance policy, what does the insuring clause state? - ANSWER-The
insures obligation to pay a death benefit upon an approved death claim
What type of disability would be less than total impairment and equal to
permanent impairment? - ANSWER-Permanent partial disability
Which of these statements regarding the annuitant is CORRECT? - ANSWER-The
annuitants life expectancy determines the annuity payments
An insurer must furnish to a claimant forms for filing proof of loss within ___ days
upon receiving a notice of claim. - ANSWER-15 days
, A life insurance policy that is subject to a contract interest rate is referred to as -
ANSWER-Universal Life
Which settlement option involves having the proceeds remain with the insurer
and earnings paid on a monthly basis to the beneficiary? - ANSWER-Interest only
Within how many days must a producer report to the commissioner any charges
made against them? - ANSWER-30 days
Which of the following would be considered a possible applicant and contract
policyholder for group health benefits? - ANSWER-Employer
How are annuities given favorable tax treatment? - ANSWER-Gains are taxed at
distribution
The term which describes the fact that both parties of a contract may NOT receive
the same value is referred to as - ANSWER-Aleatory
Karen is a producer who has obtained personal information about a client without
having a legitimate reason to do so. Under the McCarran-Ferguson Act, what is
the minimum penalty for this? - ANSWER-$10,000
The entire contract includes the actual policy and the - ANSWER-Application
Accident ACTUAL exam:
QUESTION AND ANSWERS
UPDATED 2026 LATEST
Which of these factors is NOT taken into consideration when determining the cost
of a long-term care policy? - ANSWER-Personal Income
What is the nonforfeiture value of an annuity before annuitization? - ANSWER-All
premiums paid, plus interest, minus any withdrawals and surrender charges
In an employer sponsored contributory group disability income plan the employer
pays 60% of the premium and each employee pays 40% of the premium. Any
income benefits paid are taxed to the employee at? - ANSWER-60%
Premium mode is a term used to describe the? - ANSWER-Frequency of the
premium payment
A master contract and certificate of coverage can be found in which type of
policy? - ANSWER-Group
,With a scheduled dental policy, how are covered expenses paid? - ANSWER-
Benefits are limited to a specific maximum dollar amount per procedure
All of the following are included as a part of a contract in the entire contract
provision EXPECT the? - ANSWER-Change made by the producer
A securities license is required for a life insurance producer to sell - ANSWER-
Variable life insurance
Under a disability income policy, which provision would be payable if the cause of
an injury is unexpected and accidental? - ANSWER-Accidental bodily injury
provision
Under a life insurance policy, what does the insuring clause state? - ANSWER-The
insures obligation to pay a death benefit upon an approved death claim
What type of disability would be less than total impairment and equal to
permanent impairment? - ANSWER-Permanent partial disability
Which of these statements regarding the annuitant is CORRECT? - ANSWER-The
annuitants life expectancy determines the annuity payments
An insurer must furnish to a claimant forms for filing proof of loss within ___ days
upon receiving a notice of claim. - ANSWER-15 days
, A life insurance policy that is subject to a contract interest rate is referred to as -
ANSWER-Universal Life
Which settlement option involves having the proceeds remain with the insurer
and earnings paid on a monthly basis to the beneficiary? - ANSWER-Interest only
Within how many days must a producer report to the commissioner any charges
made against them? - ANSWER-30 days
Which of the following would be considered a possible applicant and contract
policyholder for group health benefits? - ANSWER-Employer
How are annuities given favorable tax treatment? - ANSWER-Gains are taxed at
distribution
The term which describes the fact that both parties of a contract may NOT receive
the same value is referred to as - ANSWER-Aleatory
Karen is a producer who has obtained personal information about a client without
having a legitimate reason to do so. Under the McCarran-Ferguson Act, what is
the minimum penalty for this? - ANSWER-$10,000
The entire contract includes the actual policy and the - ANSWER-Application
