Tennessee Life Insurance Exam
Questions and Guide Answers
100% Verified Graded A+
1. When does the Free-Look provision for health insurance begin?:
Answer: The Free-Look provision of any health policy begins the date the policy is delivered to the
insured.
2. When a corporation gets a group accident and health policy for it's employ-
ees, who gets the policy issued to them and who gets a certificate?:
Answer: The company gets the policy issued to them and each employee must be issued a certificate.
3. A producer MUST leave a buyers guide with an applicant for which type of
policy?:
Answer: Universal Life Insurance
4. A licensed producer can be BEST described as a(n):
A: administrator answering calls for an insurance agency
,B: underwriting officer of an insurance company
C: individual who places insurance on behalf of anyone seeking insurance D:
someone who places insurance advertisements in a newspaper:
Answer: C: individual who places insurance on behalf of anyone seeking insurance
5. When a life insurance application is completed, a Policy Summary must be
given to the applicant. The Policy Summary MUST include:
A: the producer's address
B: The premium cost for basic coverage applied for
C: cash value rate
D: the insurer's AM Best rating:
Answer: B: The premium cost for basic coverage applied for
6. A producer needs to complete hours of continuing education every
years.:
Answer: 24 hours of continuing education every 2 years
7. All of these are powers of the Commissioner EXCEPT:
A: Issue subpoenas
,B: Enforce insurance laws
C: Incarcerate a producer
D: Hold hearings:
Answer: C: Incarcerate a producer
8. An insurance producer could be found guilty of rebating by doing what?: -
Answer: Sharing commissions with a client who has purchased insurance.
9. B is an insurance producer who occasionally engages in financial planning. If
B sells an insurance policy during the course of a financial planning seminar, B
must disclose to the client:
A: How old B was when the producer license was obtained
B: the examination score received on B's licensing exam
C: that a commission will be earned in addition to any fee charged for financial
planning
D: which states B is also licensed in:
Answer: C: that a commission will be earned in addition to any fee charged for financial
planning
10. How long is a temporary license valid?:
Answer: 180 days
, 11. How often must the Commissioner examine each domestic company?
Which of the following?
Every 2, 3, 4, or 5 years?:
Answer: Every 5 years
12. In Tennessee, a(n) insurance company is one formed under the laws
of a state outside of Tennessee.
A: captive
B: foreign
C: domestic
D: alien:
Answer: B: Foreign
13. In Tennessee, the definition of "individual" may include which of the follow-
ing?
A: The individual's children
B: The individual's legal representative
C: The individual's business associates
D: The individual's financial accounts:
Questions and Guide Answers
100% Verified Graded A+
1. When does the Free-Look provision for health insurance begin?:
Answer: The Free-Look provision of any health policy begins the date the policy is delivered to the
insured.
2. When a corporation gets a group accident and health policy for it's employ-
ees, who gets the policy issued to them and who gets a certificate?:
Answer: The company gets the policy issued to them and each employee must be issued a certificate.
3. A producer MUST leave a buyers guide with an applicant for which type of
policy?:
Answer: Universal Life Insurance
4. A licensed producer can be BEST described as a(n):
A: administrator answering calls for an insurance agency
,B: underwriting officer of an insurance company
C: individual who places insurance on behalf of anyone seeking insurance D:
someone who places insurance advertisements in a newspaper:
Answer: C: individual who places insurance on behalf of anyone seeking insurance
5. When a life insurance application is completed, a Policy Summary must be
given to the applicant. The Policy Summary MUST include:
A: the producer's address
B: The premium cost for basic coverage applied for
C: cash value rate
D: the insurer's AM Best rating:
Answer: B: The premium cost for basic coverage applied for
6. A producer needs to complete hours of continuing education every
years.:
Answer: 24 hours of continuing education every 2 years
7. All of these are powers of the Commissioner EXCEPT:
A: Issue subpoenas
,B: Enforce insurance laws
C: Incarcerate a producer
D: Hold hearings:
Answer: C: Incarcerate a producer
8. An insurance producer could be found guilty of rebating by doing what?: -
Answer: Sharing commissions with a client who has purchased insurance.
9. B is an insurance producer who occasionally engages in financial planning. If
B sells an insurance policy during the course of a financial planning seminar, B
must disclose to the client:
A: How old B was when the producer license was obtained
B: the examination score received on B's licensing exam
C: that a commission will be earned in addition to any fee charged for financial
planning
D: which states B is also licensed in:
Answer: C: that a commission will be earned in addition to any fee charged for financial
planning
10. How long is a temporary license valid?:
Answer: 180 days
, 11. How often must the Commissioner examine each domestic company?
Which of the following?
Every 2, 3, 4, or 5 years?:
Answer: Every 5 years
12. In Tennessee, a(n) insurance company is one formed under the laws
of a state outside of Tennessee.
A: captive
B: foreign
C: domestic
D: alien:
Answer: B: Foreign
13. In Tennessee, the definition of "individual" may include which of the follow-
ing?
A: The individual's children
B: The individual's legal representative
C: The individual's business associates
D: The individual's financial accounts:
