_____________Quiz____________?
What contract term means only one party to a contract's promises are legally enforceable? -
Answer✓✓
Unilateral
_____________Quiz____________?
Mr. Jones, the insured, committed suicide after the expiration of the suicide clause in his life
insurance policy. The insurer is obligated to: -
Answer✓✓
Pay the death benefit.
_____________Quiz____________?
The benefit that encourages the disabled policy owner to try to return to work is: -
Answer✓✓
Recurrent disability
_____________Quiz____________?
Jeff has limited financial resources, but finds himself in a position where he needs a good deal
of protection. A __________would probably best suit his needs at this time. -
Answer✓✓
Term policy
1
, _____________Quiz____________?
Tyler owns a major medical policy with 70/30 coinsurance and a $3,000 deductible. If he
submits a claim for $20,000, how much will he pay? -
Answer✓✓
$8,100
_____________Quiz____________?
Life insurance applications require a signature from: -
Answer✓✓
The agent, insured, and policyowner.
_____________Quiz____________?
The cheapest premium payment mode would be on a policy that is paid: -
Answer✓✓
Annually
_____________Quiz____________?
If an applicant misstates their age on an insurance application, what does the insurer do
when it is discovered at claim time? -
Answer✓✓
Adjust the claim benefits to reflect what he would have been entitled to if his real age had
been given.
_____________Quiz____________?
Phil and Sarah bought a life policy in which both are insured. Sarah dies before Phil. If the
policy pays the death benefit after Phil dies, it is a: -
Answer✓✓
Survivorship life
2
, _____________Quiz____________?
A decreasing term life policy would be the most appropriate for: -
Answer✓✓
A 41 year old lawyer who wants a policy to pay his mortgage if he dies
_____________Quiz____________?
When an insured completed his health policy application, his producer did not take a
premium when he submitted it to the insurer. When the producer delivers the policy to the
applicant, he needs to do all of the following EXCEPT: -
Answer✓✓
Issue the applicant a conditional receipt.
_____________Quiz____________?
What type group plan requires 75% participation? -
Answer✓✓
Contributory
_____________Quiz____________?
How much time does a licensee have to notify the Commissioner of Insurance of any
change of residential, mailing, or business address? -
Answer✓✓
30 days
_____________Quiz____________?
The services are provided on a prepaid per person basis called capitation in: -
Answer✓✓
HMOs
_____________Quiz____________?
3
, In life insurance, insurable interest must be present at the time of: -
Answer✓✓
Application
_____________Quiz____________?
Mr. Johnson is looking at Medicare Supplement policies. These policies are designed
primarily to: -
Answer✓✓
Provide benefits not covered by Medicare.
_____________Quiz____________?
If the cash values of an annuity are invested in securities, it is a: -
Answer✓✓
Variable annuity
_____________Quiz____________?
What is a marketing communication that is oral, printed, or written and designed to create
public interest in life insurance or annuities? -
Answer✓✓
Advertisement
_____________Quiz____________?
What is the minimum time required for the basis of a long-term policy? -
Answer✓✓
12 consecutive months
_____________Quiz____________?
Alex's life policy lapsed, which Nonforfeiture option would the insurer send him the value of
the policy? -
4
What contract term means only one party to a contract's promises are legally enforceable? -
Answer✓✓
Unilateral
_____________Quiz____________?
Mr. Jones, the insured, committed suicide after the expiration of the suicide clause in his life
insurance policy. The insurer is obligated to: -
Answer✓✓
Pay the death benefit.
_____________Quiz____________?
The benefit that encourages the disabled policy owner to try to return to work is: -
Answer✓✓
Recurrent disability
_____________Quiz____________?
Jeff has limited financial resources, but finds himself in a position where he needs a good deal
of protection. A __________would probably best suit his needs at this time. -
Answer✓✓
Term policy
1
, _____________Quiz____________?
Tyler owns a major medical policy with 70/30 coinsurance and a $3,000 deductible. If he
submits a claim for $20,000, how much will he pay? -
Answer✓✓
$8,100
_____________Quiz____________?
Life insurance applications require a signature from: -
Answer✓✓
The agent, insured, and policyowner.
_____________Quiz____________?
The cheapest premium payment mode would be on a policy that is paid: -
Answer✓✓
Annually
_____________Quiz____________?
If an applicant misstates their age on an insurance application, what does the insurer do
when it is discovered at claim time? -
Answer✓✓
Adjust the claim benefits to reflect what he would have been entitled to if his real age had
been given.
_____________Quiz____________?
Phil and Sarah bought a life policy in which both are insured. Sarah dies before Phil. If the
policy pays the death benefit after Phil dies, it is a: -
Answer✓✓
Survivorship life
2
, _____________Quiz____________?
A decreasing term life policy would be the most appropriate for: -
Answer✓✓
A 41 year old lawyer who wants a policy to pay his mortgage if he dies
_____________Quiz____________?
When an insured completed his health policy application, his producer did not take a
premium when he submitted it to the insurer. When the producer delivers the policy to the
applicant, he needs to do all of the following EXCEPT: -
Answer✓✓
Issue the applicant a conditional receipt.
_____________Quiz____________?
What type group plan requires 75% participation? -
Answer✓✓
Contributory
_____________Quiz____________?
How much time does a licensee have to notify the Commissioner of Insurance of any
change of residential, mailing, or business address? -
Answer✓✓
30 days
_____________Quiz____________?
The services are provided on a prepaid per person basis called capitation in: -
Answer✓✓
HMOs
_____________Quiz____________?
3
, In life insurance, insurable interest must be present at the time of: -
Answer✓✓
Application
_____________Quiz____________?
Mr. Johnson is looking at Medicare Supplement policies. These policies are designed
primarily to: -
Answer✓✓
Provide benefits not covered by Medicare.
_____________Quiz____________?
If the cash values of an annuity are invested in securities, it is a: -
Answer✓✓
Variable annuity
_____________Quiz____________?
What is a marketing communication that is oral, printed, or written and designed to create
public interest in life insurance or annuities? -
Answer✓✓
Advertisement
_____________Quiz____________?
What is the minimum time required for the basis of a long-term policy? -
Answer✓✓
12 consecutive months
_____________Quiz____________?
Alex's life policy lapsed, which Nonforfeiture option would the insurer send him the value of
the policy? -
4
