1|Page
TN LIFE PRODUCER FINAL EXAM NEWEST 2025/2026 ACTUAL EXAM
WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(100% VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED||
Which of these is a valid Tennessee regulation for referral fees?
-Referral fees can be unlimited in amount
-If the referral sale involves replacement, the Notice Regarding
Replacement form is not required
-Referral fees may only be paid in the event a policy is purchased
-The Commissioner may establish by rule a maximum amount for
each referral - ANSWER-The Commissioner may establish by rule
a maximum amount for each referral
The amount of coverage on a group credit life policy is limited to:
Half of the insured's total loan value
The insured's total loan value
75% of the insured's total loan value
$25,000 - ANSWER-The insured's total loan value
,2|Page
Which of the following information is NOT required to be included
in a Whole Life policy?
Policy's loan interest rate
Policy's guaranteed dividend table
Policy's premium
Policy's cash value table - ANSWER-The Commissioner may
establish by rule a maximum amount for each referral
The consideration clause of an insurance contract includes:
the buyer's guide
a summary of the coverage provided
the named beneficiaries
the schedule and amount of premium payments - ANSWER-The
schedule and amount of premium payments
A producer MUST leave a buyer's guide with an applicant for
which type of policy?
Group Life insurance
Annuity
,3|Page
Universal Life Insurance
Credit Life insurance - ANSWER-Universal Life insurance
An individual working part-time has an annual income of $25,000.
If this individual has an IRA, what is the maximum deductible IRA
contribution allowable?
No deduction allowed
$2,500
$2,000
$1,000 - ANSWER-$2,500
At the age of 45, an individual withdraws $50,000 from his
Qualified Profit-Sharing Plan and then deposits this amount into a
personal savings account. This action would result in:
-Only income tax on the amount withdrawn
-Income tax and a 10% penalty assessed upon funds withdrawn
from the Qualified plan
-Continued tax-free accumulations in the bank savings account
, 4|Page
-Only a 10% penalty on the withdrawal of funds - ANSWER-
Income tax and a 10% penalty assessed upon funds withdrawn
from the Qualified plan
S recently received a $500,000 lump sum retirement buyout from
her employer. She would like to buy an annuity that will
immediately furnish her with a guaranteed income for life. What
type of annuity is best suited for her situation?
403(b) Plan
Deferred Premium
Single Premium
Period Certain - ANSWER-Single Premium
Quarterly premium payments increase the annual cost of
insurance because:
-insurer risk exposure is greater
-interest to the insurer is increased while administrative costs are
decreased
-mortality costs are greater
TN LIFE PRODUCER FINAL EXAM NEWEST 2025/2026 ACTUAL EXAM
WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(100% VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED||
Which of these is a valid Tennessee regulation for referral fees?
-Referral fees can be unlimited in amount
-If the referral sale involves replacement, the Notice Regarding
Replacement form is not required
-Referral fees may only be paid in the event a policy is purchased
-The Commissioner may establish by rule a maximum amount for
each referral - ANSWER-The Commissioner may establish by rule
a maximum amount for each referral
The amount of coverage on a group credit life policy is limited to:
Half of the insured's total loan value
The insured's total loan value
75% of the insured's total loan value
$25,000 - ANSWER-The insured's total loan value
,2|Page
Which of the following information is NOT required to be included
in a Whole Life policy?
Policy's loan interest rate
Policy's guaranteed dividend table
Policy's premium
Policy's cash value table - ANSWER-The Commissioner may
establish by rule a maximum amount for each referral
The consideration clause of an insurance contract includes:
the buyer's guide
a summary of the coverage provided
the named beneficiaries
the schedule and amount of premium payments - ANSWER-The
schedule and amount of premium payments
A producer MUST leave a buyer's guide with an applicant for
which type of policy?
Group Life insurance
Annuity
,3|Page
Universal Life Insurance
Credit Life insurance - ANSWER-Universal Life insurance
An individual working part-time has an annual income of $25,000.
If this individual has an IRA, what is the maximum deductible IRA
contribution allowable?
No deduction allowed
$2,500
$2,000
$1,000 - ANSWER-$2,500
At the age of 45, an individual withdraws $50,000 from his
Qualified Profit-Sharing Plan and then deposits this amount into a
personal savings account. This action would result in:
-Only income tax on the amount withdrawn
-Income tax and a 10% penalty assessed upon funds withdrawn
from the Qualified plan
-Continued tax-free accumulations in the bank savings account
, 4|Page
-Only a 10% penalty on the withdrawal of funds - ANSWER-
Income tax and a 10% penalty assessed upon funds withdrawn
from the Qualified plan
S recently received a $500,000 lump sum retirement buyout from
her employer. She would like to buy an annuity that will
immediately furnish her with a guaranteed income for life. What
type of annuity is best suited for her situation?
403(b) Plan
Deferred Premium
Single Premium
Period Certain - ANSWER-Single Premium
Quarterly premium payments increase the annual cost of
insurance because:
-insurer risk exposure is greater
-interest to the insurer is increased while administrative costs are
decreased
-mortality costs are greater
