TENNESSEE LIFE INSURANCE EXAM 100 2026
FINAL TEST PAPER SOLVED QUESTIONS WITH
FULL SOLUTION ALREADY PASSED
◉ Assignment.
Answer: The transfer of ownership rights of a life insurance policy
from one person to another.
◉ Attained Age.
Answer: The age of the insured at a determined date.
◉ Authorized (Admitted) Insurer.
Answer: An insurance company authorized and licensed to transact
business in a particular state.
◉ Avoidance.
Answer: A method of dealing with risk by deliberately keeping away
from it. Ex: a person who fears a plane crash, does not fly.
◉ Basic Illustration.
Answer: A ledger or proposal used in the sale of a life insurance
policy that shows both guaranteed and nonguaranteed elements.
,◉ Beneficiary.
Answer: The person who receives the proceeds from the policy
when the insured dies.
◉ Birthday Rule.
Answer: The method of determining primary coverage for a
dependent child, under which the plan of the parent whose birthday
occurs first in the calendar year is designated as primary.
◉ Broker.
Answer: An individual who represents an insured in the process of
purchasing and negotiating a contract of insurance.
◉ Buy-Sell Agreement.
Answer: A legal contract that determines what will be done with a
business in the event that an owner dies or becomes disabled.
◉ Buyer's Guide.
Answer: A booklet that describes insurance policies and concepts,
and provides general information to help an applicant make an
informed decision.
◉ Cash Value.
, Answer: The amount to which a policy owner is entitled if the policy
is surrendered before maturity.
◉ Certificate.
Answer: A statement or booklet that confirms that a policy has been
written and that describes the coverage in general.
◉ Certificate of Authority.
Answer: A document that authorizes a company to start conducting
business and specifies the kind(s) of insurance a company can
transact. It is illegal for an insurance company to transact insurance
without this certificate.
◉ Certificate of Insurance.
Answer: A legal document that indicates that an insurance policy has
been issued, and that states both the amount and types of insurance
provided.
◉ Claim.
Answer: A request for payment of the benefits provided by an
insurance contract.
◉ Coercion.
FINAL TEST PAPER SOLVED QUESTIONS WITH
FULL SOLUTION ALREADY PASSED
◉ Assignment.
Answer: The transfer of ownership rights of a life insurance policy
from one person to another.
◉ Attained Age.
Answer: The age of the insured at a determined date.
◉ Authorized (Admitted) Insurer.
Answer: An insurance company authorized and licensed to transact
business in a particular state.
◉ Avoidance.
Answer: A method of dealing with risk by deliberately keeping away
from it. Ex: a person who fears a plane crash, does not fly.
◉ Basic Illustration.
Answer: A ledger or proposal used in the sale of a life insurance
policy that shows both guaranteed and nonguaranteed elements.
,◉ Beneficiary.
Answer: The person who receives the proceeds from the policy
when the insured dies.
◉ Birthday Rule.
Answer: The method of determining primary coverage for a
dependent child, under which the plan of the parent whose birthday
occurs first in the calendar year is designated as primary.
◉ Broker.
Answer: An individual who represents an insured in the process of
purchasing and negotiating a contract of insurance.
◉ Buy-Sell Agreement.
Answer: A legal contract that determines what will be done with a
business in the event that an owner dies or becomes disabled.
◉ Buyer's Guide.
Answer: A booklet that describes insurance policies and concepts,
and provides general information to help an applicant make an
informed decision.
◉ Cash Value.
, Answer: The amount to which a policy owner is entitled if the policy
is surrendered before maturity.
◉ Certificate.
Answer: A statement or booklet that confirms that a policy has been
written and that describes the coverage in general.
◉ Certificate of Authority.
Answer: A document that authorizes a company to start conducting
business and specifies the kind(s) of insurance a company can
transact. It is illegal for an insurance company to transact insurance
without this certificate.
◉ Certificate of Insurance.
Answer: A legal document that indicates that an insurance policy has
been issued, and that states both the amount and types of insurance
provided.
◉ Claim.
Answer: A request for payment of the benefits provided by an
insurance contract.
◉ Coercion.
