Life, Accident And Health Producer Exam Questions
And Answers
Paul is an employee who caught a disease unique to the trade in which he was exposed to. Paul has
a(n) ANS Occupational disease
An immediate annuity has been purchased with a single premium. When does the annuitant typically
begin receiving benefit payments? ANS 1 month
Under which circumstance may a deferred insurance commission be paid to an individual? ANS
Individual was a licensed producer at the time of the sale
Under the Health Insurance Portability and Accountability Act (HIPAA), the employee's new Group
Health Plan will verify Creditable Coverage so that the ANS Employee's waiting period for
coverage of a preexisting condition can be reduced under the new employer's health plan
Which type of multiple protection policy pays on the death of the last person? ANS
Supervisorship life policy
The period in which there are no Social Security benefits for the surviving spouse is called the
ANS Blackout period
Written notice for a health claim must be given to the insurer ___ days after the occurrence of the
loss. ANS 20
In a Long-Term Care policy, activities of daily living (ADL'S) can be each of the following EXCEPT
ANS Talking
Mike has inherited his father's traditional IRA. As beneficiary, he will pay ____ taxes on any money
withdrawn. ANS income
, The act of _____ insurance does NOT require an individual to hold an insurance producer license
ANS underwriting
A(n) _____ company is owned exclusively by shareholders ANS stock
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's
benefits must ANS Be the same and the premium cannot exceed 102%
Field underwriting performed by the producer involves ANS Completing the application and
collecting initial premium
If an insured dies during the grace period with no premiums paid ANS The policy would be
payable, minus the premium amount
All of the following are qualifications for establishing a health savings account (HSA) EXCEPT
ANS Enrolled in a health plan with a prescription drug benefit
A life insurance applicant in Michigan may backdate the application for up to ____ month(s)
ANS 6
How do interest earnings accumulate in a deferred annuity? ANS On a tax-free basis
If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the
insured dies? ANS A prorated death benefit based on the amount of insurance the insured's
premiums would have been if purchased at the correct age
Which of these will have the highest monthly payout upon annuitization? ANS Straight life
If an insured's unmarried child is incapable of self support because of a mental handicap, how long
must this child be provided health coverage under the parent's policy? ANS Until policy
termination with proof of incapacity
And Answers
Paul is an employee who caught a disease unique to the trade in which he was exposed to. Paul has
a(n) ANS Occupational disease
An immediate annuity has been purchased with a single premium. When does the annuitant typically
begin receiving benefit payments? ANS 1 month
Under which circumstance may a deferred insurance commission be paid to an individual? ANS
Individual was a licensed producer at the time of the sale
Under the Health Insurance Portability and Accountability Act (HIPAA), the employee's new Group
Health Plan will verify Creditable Coverage so that the ANS Employee's waiting period for
coverage of a preexisting condition can be reduced under the new employer's health plan
Which type of multiple protection policy pays on the death of the last person? ANS
Supervisorship life policy
The period in which there are no Social Security benefits for the surviving spouse is called the
ANS Blackout period
Written notice for a health claim must be given to the insurer ___ days after the occurrence of the
loss. ANS 20
In a Long-Term Care policy, activities of daily living (ADL'S) can be each of the following EXCEPT
ANS Talking
Mike has inherited his father's traditional IRA. As beneficiary, he will pay ____ taxes on any money
withdrawn. ANS income
, The act of _____ insurance does NOT require an individual to hold an insurance producer license
ANS underwriting
A(n) _____ company is owned exclusively by shareholders ANS stock
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's
benefits must ANS Be the same and the premium cannot exceed 102%
Field underwriting performed by the producer involves ANS Completing the application and
collecting initial premium
If an insured dies during the grace period with no premiums paid ANS The policy would be
payable, minus the premium amount
All of the following are qualifications for establishing a health savings account (HSA) EXCEPT
ANS Enrolled in a health plan with a prescription drug benefit
A life insurance applicant in Michigan may backdate the application for up to ____ month(s)
ANS 6
How do interest earnings accumulate in a deferred annuity? ANS On a tax-free basis
If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the
insured dies? ANS A prorated death benefit based on the amount of insurance the insured's
premiums would have been if purchased at the correct age
Which of these will have the highest monthly payout upon annuitization? ANS Straight life
If an insured's unmarried child is incapable of self support because of a mental handicap, how long
must this child be provided health coverage under the parent's policy? ANS Until policy
termination with proof of incapacity
