CPSGT PT.1 FINAL EXAM NEWEST 2024-2025 ACTUAL EXAM COMPLE
ALL 105 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS)
Study online at https://quizlet.com/_fqbft1
An accelerated benefit on a life insur-
ance contract can be delivered if the in- 24 months
sured's life expectancy is less than:
Alex's life policy lapsed, which Nonforfei-
ture option would the insurer send him Cash surrender
the value of the policy?
Richard is thinking about transferring
some of the ownership rights of his policy
Assignment
to his brother Randy. What term is used
for this type of transfer?
According to the Physical Examination
and Autopsy provision, who is responsi-
The insurer
ble for paying the cost of examining the
insured?
How many days does an insured have to
90 days
provide proof of loss?
Hell pay $8,100. The math works out
Tyler owns a major medical policy with $20,000 - $3,000 = $17,000. Then
70/30 coinsurance and a $3,000 de- $17,000 x .30 = $5,100. Then add the
ductible. If he submits a claim for $3,000 deductible with the $5,100 coin-
$20,000, how much will he pay? surance ($3,000 + $5,100= $8,100).
The correct answer is: $8,100
Mr. Johnson is looking at Medicare Sup-
Provide benefits not covered by
plement policies. These policies are de-
Medicare
signed primarily to:
In a life policy, a statement of good health The application does not include the pre-
is needed when: mium.
What type policy would pay the death
benefits after the first person dies, if it Joint life
covers two or more lives?
Shane and Casey both have health plans
The parent with the earliest birthday in
from work that covers their son Cash.
the year is primary.
Which plan is primary?
, CPSGT PT.1 FINAL EXAM NEWEST 2024-2025 ACTUAL EXAM COMPLE
ALL 105 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS)
Study online at https://quizlet.com/_fqbft1
What kind of contract pays an income to
Life annuity
an insured until the insured dies?
Nick has a policy that the insurer can
cancel when he turns 65. Which type of Conditionally renewable
policy is it?
Replacement Rules Do NOT apply to: Group life or credit life insurance
The most common plan used with an
HDHP
HSA is:
If the cash values of an annuity are in-
Variable annuity
vested in securities, it is a:
If an applicant misstates their age on
Adjust the claim benefits to reflect what
an insurance application, what does the
he would have been entitled to if his real
insurer do when it is discovered at claim
age had been given.
time?
Samson has a policy that allows the in-
surer to cancel the policy at any date
Optionally renewable
specified in the contract, and to raise his
premiums. Which type of policy is it?
How are dividends treated for tax pur-
Never taxed
poses?
What is the advantage of a Waiver of Waive an insured's premiums if he/she
Premium provision in a life policy? becomes disabled.
What type of policy allows an insurer to
cancel a policy if certain circumstances Conditionally renewable
stated in the contract happen?
Which of the following factors does not
influence the amount that an individual
Sex
receives as monthly income under Social
Security
basic medical policy will pay for Doctor visits
The Commissioner may suspend, deny,
revoke or refuse to issue an insurance
agent license for all the following rea-
ALL 105 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS)
Study online at https://quizlet.com/_fqbft1
An accelerated benefit on a life insur-
ance contract can be delivered if the in- 24 months
sured's life expectancy is less than:
Alex's life policy lapsed, which Nonforfei-
ture option would the insurer send him Cash surrender
the value of the policy?
Richard is thinking about transferring
some of the ownership rights of his policy
Assignment
to his brother Randy. What term is used
for this type of transfer?
According to the Physical Examination
and Autopsy provision, who is responsi-
The insurer
ble for paying the cost of examining the
insured?
How many days does an insured have to
90 days
provide proof of loss?
Hell pay $8,100. The math works out
Tyler owns a major medical policy with $20,000 - $3,000 = $17,000. Then
70/30 coinsurance and a $3,000 de- $17,000 x .30 = $5,100. Then add the
ductible. If he submits a claim for $3,000 deductible with the $5,100 coin-
$20,000, how much will he pay? surance ($3,000 + $5,100= $8,100).
The correct answer is: $8,100
Mr. Johnson is looking at Medicare Sup-
Provide benefits not covered by
plement policies. These policies are de-
Medicare
signed primarily to:
In a life policy, a statement of good health The application does not include the pre-
is needed when: mium.
What type policy would pay the death
benefits after the first person dies, if it Joint life
covers two or more lives?
Shane and Casey both have health plans
The parent with the earliest birthday in
from work that covers their son Cash.
the year is primary.
Which plan is primary?
, CPSGT PT.1 FINAL EXAM NEWEST 2024-2025 ACTUAL EXAM COMPLE
ALL 105 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS)
Study online at https://quizlet.com/_fqbft1
What kind of contract pays an income to
Life annuity
an insured until the insured dies?
Nick has a policy that the insurer can
cancel when he turns 65. Which type of Conditionally renewable
policy is it?
Replacement Rules Do NOT apply to: Group life or credit life insurance
The most common plan used with an
HDHP
HSA is:
If the cash values of an annuity are in-
Variable annuity
vested in securities, it is a:
If an applicant misstates their age on
Adjust the claim benefits to reflect what
an insurance application, what does the
he would have been entitled to if his real
insurer do when it is discovered at claim
age had been given.
time?
Samson has a policy that allows the in-
surer to cancel the policy at any date
Optionally renewable
specified in the contract, and to raise his
premiums. Which type of policy is it?
How are dividends treated for tax pur-
Never taxed
poses?
What is the advantage of a Waiver of Waive an insured's premiums if he/she
Premium provision in a life policy? becomes disabled.
What type of policy allows an insurer to
cancel a policy if certain circumstances Conditionally renewable
stated in the contract happen?
Which of the following factors does not
influence the amount that an individual
Sex
receives as monthly income under Social
Security
basic medical policy will pay for Doctor visits
The Commissioner may suspend, deny,
revoke or refuse to issue an insurance
agent license for all the following rea-
