Final Exam- Tennessee Life and Health
Exam Questions And Answers
Comprehensive Major Medical policies usually combine: - correct
answer ✅Major Medical with Basic Hospital/Surgical coverage
Which of the following features of a group Term Life policy enables an
individual to leave the group and
continue his or her insurance without providing evidence of
insurability? - correct answer ✅Conversion privilege
C is the policyowner of a Comprehensive individual Major Medical
policy. C pays an annual premium
which is due September 1. If C forgets to pay the premium and is
hospitalized September 10, how will
the insurer handle this claim? - correct answer ✅Pay the claim in full
minus the premium due
insurance company is one formed under the laws of a state outside of
Tennessee. - correct answer ✅Foreign
X is insured with a Disability Income policy that provides coverage until
age 65. This policy allows the
insurer to change the premium rate for the overall risk class assigned.
Which of these renewability
features does this policy contain? - correct answer ✅Guaranteed
renewable
,Final Exam- Tennessee Life and Health
Exam Questions And Answers
Which parts of a life insurance policy are guaranteed to be true? -
correct answer ✅warranty
Which Long Term Care insurance statement is true? - correct answer
✅Pre-existing conditions must be covered after the coverage has been
in force for six months
With Optionally Renewable Health policies, the insurer may - correct
answer ✅review the policy annually and determine whether or not to
renew it
Which of these is NOT a reason for a business to buy key person life
insurance? - correct answer ✅A pension deficiency if the key employee
dies
Which of these provisions require proof of insurability after a policy has
lapsed? - correct answer ✅Reinstatement
Which of these is NOT an element of Life insurance premiums? - correct
answer ✅morbidity rate
T, age 70, withdraws cash from a profit-sharing plan and purchases a
Straight Life Annuity. What will
, Final Exam- Tennessee Life and Health
Exam Questions And Answers
this transaction provide? - correct answer ✅Income that cannot be
outlived by the owner
A Straight Life Annuity will provide an income that the owner cannot
outlive.
Which of these are NOT an example of a Nonforfeiture option? - correct
answer ✅Life Income
Agent J takes an application and initial premium from an applicant and
sends the application and premium check to the insurance company.
The insurance company returns the check back to J because the check is
made out to J instead of the insurance company. What action should J
take? - correct answer ✅Return to the customer, collect a new check
made out to the insurance company, and send the new check out to the
insurance company
beneficiary may be changed by the policyowner WITHOUT the consent
of the beneficiary - correct answer ✅Revocable
All of these are considered a producer's breach of fiduciary duty EXCEPT
- correct answer ✅allowing premiums to be submitted electronically
Exam Questions And Answers
Comprehensive Major Medical policies usually combine: - correct
answer ✅Major Medical with Basic Hospital/Surgical coverage
Which of the following features of a group Term Life policy enables an
individual to leave the group and
continue his or her insurance without providing evidence of
insurability? - correct answer ✅Conversion privilege
C is the policyowner of a Comprehensive individual Major Medical
policy. C pays an annual premium
which is due September 1. If C forgets to pay the premium and is
hospitalized September 10, how will
the insurer handle this claim? - correct answer ✅Pay the claim in full
minus the premium due
insurance company is one formed under the laws of a state outside of
Tennessee. - correct answer ✅Foreign
X is insured with a Disability Income policy that provides coverage until
age 65. This policy allows the
insurer to change the premium rate for the overall risk class assigned.
Which of these renewability
features does this policy contain? - correct answer ✅Guaranteed
renewable
,Final Exam- Tennessee Life and Health
Exam Questions And Answers
Which parts of a life insurance policy are guaranteed to be true? -
correct answer ✅warranty
Which Long Term Care insurance statement is true? - correct answer
✅Pre-existing conditions must be covered after the coverage has been
in force for six months
With Optionally Renewable Health policies, the insurer may - correct
answer ✅review the policy annually and determine whether or not to
renew it
Which of these is NOT a reason for a business to buy key person life
insurance? - correct answer ✅A pension deficiency if the key employee
dies
Which of these provisions require proof of insurability after a policy has
lapsed? - correct answer ✅Reinstatement
Which of these is NOT an element of Life insurance premiums? - correct
answer ✅morbidity rate
T, age 70, withdraws cash from a profit-sharing plan and purchases a
Straight Life Annuity. What will
, Final Exam- Tennessee Life and Health
Exam Questions And Answers
this transaction provide? - correct answer ✅Income that cannot be
outlived by the owner
A Straight Life Annuity will provide an income that the owner cannot
outlive.
Which of these are NOT an example of a Nonforfeiture option? - correct
answer ✅Life Income
Agent J takes an application and initial premium from an applicant and
sends the application and premium check to the insurance company.
The insurance company returns the check back to J because the check is
made out to J instead of the insurance company. What action should J
take? - correct answer ✅Return to the customer, collect a new check
made out to the insurance company, and send the new check out to the
insurance company
beneficiary may be changed by the policyowner WITHOUT the consent
of the beneficiary - correct answer ✅Revocable
All of these are considered a producer's breach of fiduciary duty EXCEPT
- correct answer ✅allowing premiums to be submitted electronically
