TENNESSEE LIFE INSURANCE EXAM 100 2026
REVIEW PAPER COMPREHENSIVE QUESTIONS
WITH EXPERT SOLUTIONS AND MARKING
SCHEME
◉ Accidental Death Benefits.
Answer: A policy rider that states that the cause of death will be
analyzed to determine if it complies with the policy description of
accidental death.
◉ Accidental Death Insurance.
Answer: An insurance policy that provides payment if the insured'
death is the result of an accident
◉ Accumulation period.
Answer: The time before an annuitant's retirement during which the
annuitant is making payments or investments in an annuity
◉ Actual Cash Value ACV.
Answer: The required amount to pay damages or the property loss.
This amount is calculated based on the property's current
replacement value minus depreciation.
,◉ Adhesion.
Answer: A contract offered on a "take it or leave it" basis by an
insurer, in which the insured's only option is to either accept or
reject the contract. Any ambiguities in the contract will be settled in
favor of the insured.
◉ Adjustable Life.
Answer: Life insurance that permits changes in the face amount,
premium amount, period of protection, and the duration of the
premium payment period.
◉ Adjuster.
Answer: A representative of an insurance company who investigates
and acts on the behalf of the company to obtain agreements for the
amount of the insurance claim.
◉ Administrator.
Answer: An individual appointed by a court as a fiduciary to settle
the financial affairs and estate of a deceased person.
◉ Admitted (Authorized) Insurer.
Answer: An insurance company authorized and licensed to transact
business in a particular state.
,◉ Adverse Selection.
Answer: The tendency of risks with higher probability of loss to
purchase and maintain insurance more often than the risks who
present lower probability.
◉ Agency.
Answer: An insurance sales office or company
◉ Agent.
Answer: An agent who is licensed to sell, negotiate, or effect
insurance contracts on behalf of the insurer.
◉ Agent Appointment.
Answer: The authorization of an agent to act for or represent an
insurer.
◉ Agent's Authority.
Answer: Special powers granted to an agent by his or her agency
contract.
◉ Aleatory.
Answer: A contract in which participating parties exchange unequal
amount. Insurance contracts are aleatory in that the amount the
, insured will pay in premiums in unequal to the amount the insurer
will pay in the event of a loss.
◉ Alien Insurer.
Answer: An insurance company that is incorporated outside the
United States.
◉ Annual Statement.
Answer: A detailed financial report that an insurance company must
submit every year to the insurance department of state (s) in which
it conducts business.
◉ Annuity.
Answer: A contrast that provides income for a specified period of
years or for life.
◉ Apparent Authority.
Answer: The appearance of the assumption of authority based on
the actions, words,or deeds of the principal or because of
circumstances the principal created.
◉ Applicant.
Answer: A person making application for or offering himself, herself
or another to be insured under an insurance contract.
REVIEW PAPER COMPREHENSIVE QUESTIONS
WITH EXPERT SOLUTIONS AND MARKING
SCHEME
◉ Accidental Death Benefits.
Answer: A policy rider that states that the cause of death will be
analyzed to determine if it complies with the policy description of
accidental death.
◉ Accidental Death Insurance.
Answer: An insurance policy that provides payment if the insured'
death is the result of an accident
◉ Accumulation period.
Answer: The time before an annuitant's retirement during which the
annuitant is making payments or investments in an annuity
◉ Actual Cash Value ACV.
Answer: The required amount to pay damages or the property loss.
This amount is calculated based on the property's current
replacement value minus depreciation.
,◉ Adhesion.
Answer: A contract offered on a "take it or leave it" basis by an
insurer, in which the insured's only option is to either accept or
reject the contract. Any ambiguities in the contract will be settled in
favor of the insured.
◉ Adjustable Life.
Answer: Life insurance that permits changes in the face amount,
premium amount, period of protection, and the duration of the
premium payment period.
◉ Adjuster.
Answer: A representative of an insurance company who investigates
and acts on the behalf of the company to obtain agreements for the
amount of the insurance claim.
◉ Administrator.
Answer: An individual appointed by a court as a fiduciary to settle
the financial affairs and estate of a deceased person.
◉ Admitted (Authorized) Insurer.
Answer: An insurance company authorized and licensed to transact
business in a particular state.
,◉ Adverse Selection.
Answer: The tendency of risks with higher probability of loss to
purchase and maintain insurance more often than the risks who
present lower probability.
◉ Agency.
Answer: An insurance sales office or company
◉ Agent.
Answer: An agent who is licensed to sell, negotiate, or effect
insurance contracts on behalf of the insurer.
◉ Agent Appointment.
Answer: The authorization of an agent to act for or represent an
insurer.
◉ Agent's Authority.
Answer: Special powers granted to an agent by his or her agency
contract.
◉ Aleatory.
Answer: A contract in which participating parties exchange unequal
amount. Insurance contracts are aleatory in that the amount the
, insured will pay in premiums in unequal to the amount the insurer
will pay in the event of a loss.
◉ Alien Insurer.
Answer: An insurance company that is incorporated outside the
United States.
◉ Annual Statement.
Answer: A detailed financial report that an insurance company must
submit every year to the insurance department of state (s) in which
it conducts business.
◉ Annuity.
Answer: A contrast that provides income for a specified period of
years or for life.
◉ Apparent Authority.
Answer: The appearance of the assumption of authority based on
the actions, words,or deeds of the principal or because of
circumstances the principal created.
◉ Applicant.
Answer: A person making application for or offering himself, herself
or another to be insured under an insurance contract.
