TN LIFE PRODUCER FINAL EXAM ACTUAL EXAM LATEST
2024/2025 QUESTIONS & CORRECT VERIFIED ANSWERS
100% GUARANTEED PASS (GRADE A+)
The automatic Premium Loan Provision is designed to:
-Provide a source of revenue to the insurance company
-Avoid a policy lapse
-Allow a policyowner to request a policy loan
-allow a policyowner to take out additional coverage without evidence of insurability
Ans>> Avoid a policy lapse
All of these are considered a producers breach of fiduciary duty EXCEPT:
Misappropriation of premiums
Conversion of premiums
Improper withholding of premiums
Allowing premiums to be submitted electronically
Ans>> Allowing premiums to be submitted electronically
A(n) _______ ________ Life policy combines investment choices with a form of Term coverage:
Straight Whole
1
,Variable Universal
Variable Term
Adjustable Universal
Ans>> Variable Universal
When engaged in an insurance transaction in Tennessee, the producer represents the:
insured
Commissioner
beneficiary
insurer
Ans>> Insurer
What is the maximum number of employees (earning at least $5,000) that an employer can have
in order to start a SIMPLE retirement plan?
25
50
100
250
2
,Ans>> 100
Who has the right to change a revocable beneficiary?
Beneficiary
Agent
Insurance Agency
Policyowner
Ans>> Policyowner
An architecture firm would stand to lose a lot of money in the event of the death of its project
manager. Which type of policy should the firm purchase on its project manager?
Universal Life insurance
Key Person insurance
Graded insurance
Executive insurance
Ans>> Key Person insurance
What benefit does the Payor clause on a Juvenile Life policy provide?
3
, -Allows payor to assign ownership in the event payor becomes disabled
-Allows payor to increase face amount without providing evidence of insurability
-Premiums are waived if juvenile becomes disabled
-Premiums are waived if payor becomes disabled
Ans>> Premiums are waived if the payor becomes disabled
All of the following are considered to be typical characteristics describing the nature of an
insurance contract, EXCEPT:
Bilateral
Unilateral
Aleatory
Adhesion
Ans>> Bilateral
Typically a life insurance death benefit is paid as a lump-sum payment. A(n) _________ option is
a method of distributing a Life Insurance policy's death benefit OTHER than by a lump sum
payment.
Settlement
4
2024/2025 QUESTIONS & CORRECT VERIFIED ANSWERS
100% GUARANTEED PASS (GRADE A+)
The automatic Premium Loan Provision is designed to:
-Provide a source of revenue to the insurance company
-Avoid a policy lapse
-Allow a policyowner to request a policy loan
-allow a policyowner to take out additional coverage without evidence of insurability
Ans>> Avoid a policy lapse
All of these are considered a producers breach of fiduciary duty EXCEPT:
Misappropriation of premiums
Conversion of premiums
Improper withholding of premiums
Allowing premiums to be submitted electronically
Ans>> Allowing premiums to be submitted electronically
A(n) _______ ________ Life policy combines investment choices with a form of Term coverage:
Straight Whole
1
,Variable Universal
Variable Term
Adjustable Universal
Ans>> Variable Universal
When engaged in an insurance transaction in Tennessee, the producer represents the:
insured
Commissioner
beneficiary
insurer
Ans>> Insurer
What is the maximum number of employees (earning at least $5,000) that an employer can have
in order to start a SIMPLE retirement plan?
25
50
100
250
2
,Ans>> 100
Who has the right to change a revocable beneficiary?
Beneficiary
Agent
Insurance Agency
Policyowner
Ans>> Policyowner
An architecture firm would stand to lose a lot of money in the event of the death of its project
manager. Which type of policy should the firm purchase on its project manager?
Universal Life insurance
Key Person insurance
Graded insurance
Executive insurance
Ans>> Key Person insurance
What benefit does the Payor clause on a Juvenile Life policy provide?
3
, -Allows payor to assign ownership in the event payor becomes disabled
-Allows payor to increase face amount without providing evidence of insurability
-Premiums are waived if juvenile becomes disabled
-Premiums are waived if payor becomes disabled
Ans>> Premiums are waived if the payor becomes disabled
All of the following are considered to be typical characteristics describing the nature of an
insurance contract, EXCEPT:
Bilateral
Unilateral
Aleatory
Adhesion
Ans>> Bilateral
Typically a life insurance death benefit is paid as a lump-sum payment. A(n) _________ option is
a method of distributing a Life Insurance policy's death benefit OTHER than by a lump sum
payment.
Settlement
4
