Which type of policy allows the insured to change the amount of the dwah benefit, the amount of premium, or the type of coverage S their needs change? STUDY. Life and Health Insurance Agent Licensing Practice Exam. Spell. Terms in this set (50) The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) conditional receipt. an amount that must be paid after the basic health policy benefits are exhausted and before the excess coverage becomes effective is: a type of health insurance referred to as "service plan" ... B. pays provider directly for the cost of medical services. which provision policy allows the insured to buy more insurance, at specified intervals, with no proof of insurability? How does the IRS classify the two different types of retirement accounts? Spell. Write. What will the insurer do in regard to the payment of the death benefit to the beneficiary? Which of the following becomes part of the contract, is guaranteed to be true, and if untrue, may be grounds for rescinding the policy? This test is provided by CompuCram. Play as. The portion that exceeds the premiums paid IS taxable. STUDY. Mark, an agent for another insurance company, comes to Eric's store and suggests that Eric cancel his present policy and buy one from him instead. Learn the important terms, definitions, and much more briefly with these flashcards quizzes. Log in Sign up. What does the payor benefit rider protect? Life & Health Insurance Agent Flash Cards ; Life & Health Insurance Agent Exam; Quality starts with who wrote the material. Florida Health and Life Insurance State Exam Practice Part 1. London Mutual Life is an insurer incorporated in England, and is transacting business in this state. 4. Which of the following indicates the person upon whose life the annuity income amount is determined? Evidence of insurability is usually required, Each of the following is a typical characteristic of groups life insurance EXCEPT, A life settlement option that pays out the death benefit is. Practice Exam 4 - Life Insurance . An annuity that is purchased with a lump-sum payment, and that begins income payments within one year is a, Which statement is INCORRECT concerning policy dividends. Which statement is an accurate description of life insurance policy dividends? Here we have got a beneficial practice test for you. Learn. If the cash value exceeds the premiums paid in a whole life policy, what are the tax consequences if the policy is surrendered? Life is so precious and beautiful but so limited too. Life & Health Insurance Agent Flash Cards ; Life & Health Insurance Agent Exam; Quality starts with who wrote the material. What is the risk classification for those who are insurable, but have a higher than average risk? And take Tests.com’s free Life and Health Insurance Agent Practice Test. How long does an employee have to convert group policy coverage to an individual policy without evidence of insurability? Flashcards. Browse. The coverage decrease but the premiums stay the samw. Match. of the following, which is a true statement about the CA insurance code? primary support for medicare part A comes from: medicare supplement policies may offer contracts that cover: when replacing medicare supplement policy it is considered unneccessary if replacement is done: Health insurance counseling advocacy program which provides counseling for individuals to help them make best health insurance decisions, advises older people regarding medicare and does not endorse or sell specific types of insurance. the non-forfeiture provision that would give the insured the most amount of coverage would be? BrittneyRose_17. Which of the following riders would provide for an insured to increase the face amount of their life insurance policy without proof of insurability. An applicant has the right to know that the insurance company will collect certain personal information about their credit, character and reputation. Match. belzjo16. Rank from lowest to highest, the amount of monthly income that would result from the following annuity settlement options: Your policy contains the guaranteed insurability rider. For life and health insurance agent exam preparation products, such as study guides, flashcards and courses, go to Tests.com’s Life and Health Insurance Sales Exam listings. What is the proper definition of "take it or leave it" contracts written by insurer? Write. The legal transfer of all or part of a policyowners rights, title or interest is called an (a). Choose from 500 different sets of life insurance practice questions flashcards on Quizlet. What is the usual federal income tax treatment of individual life insurance? These practice tests are designed to familiarize you with the types of questions you will see on the official test. Betty is the only beneficiary named on her husband Bob's policy which has a Common Disaster provision (within 90 days death benefit will go to primary estate) They are in a car wreck, and Bob dies instantly. Search . Cram.com makes it easy to get the grade you want! And take Tests.com’s free Life and Health Insurance Agent Practice Test. he can probably receive benefits from: disability insurance proceeds are taxable: D. if the employer pays for the insurance. C. charging males and females different rates for life annuity contracts according to current mortality tables. The most common type of whole life insurance where premiums are payable over the whole life of the insured to age 100 is called. Try this amazing 100 Question - Nc Health Insurance Practice Exam quiz which has been attempted 1404 times by avid quiz takers. Study Flashcards On Life Insurance Flashcards at Cram.com. Study Life Insurance Terms Flashcards Flashcards at ProProfs - Prepare for the life insurance licensing exam in a brief manner with these flashcards and revise the concepts related to it. goldaoswald. An insurer invests the cash value of a fixed annuity in which of the following assets? Match. Log in Sign up. Test. Mark is guilty of: which of the following would not be considered an unfair trade practice? Gravity. Which statement is true? Learn. Created by. It is then discovered that Brian understated his age on the application. The tests include 50 questions on general insurance topics and 25 generic state questions that cover topics found in content categories for most states. A special characteristic of insurance contract where equal value is not exchanged between parties is known as: Life insurance contracts are ___ agreements. An agent delivers a policy to an insured, and 9 days later the insured returns the policy and wants a complete refund. As an insurance agent, one is allowed to offer many different lines of coverage – provided that the required training and testing qualifications have been met. Browse. Eric tells Mark that he is happy with his present policy, but Mark tells him that the policy is poorly written and Farmers has a bad rep for paying claims. Test. If one partner dies, which of the following contracts will allow the surviving partner to use the death benefit to purchase the deceased's business interests? each of the following is a principal factor of determining group premium rates except: group underwriters are concerned with what criteria that relates to the group as a whole? At what age can a participant receive distributions from a qualified plan without incurring a 10% penalty. During the Quiz End of Quiz. Match. laraspears. Which of the following allows an insurance company to deny coverage of the insurers eewth occurs in war? Prometric offers three types of Insurance practice tests to help you prepare for your official licensure test: Life, Health and Property/Casualty at no cost to the candidate. Difficulty. Write. Either the cash value or the premiums paid, whichever is greater. An annuity in which investment growth is dependent on the performance of an index such as the Standard and Poor's 500 is called a(n), The premium payment mode can be best described as the. This quiz is useful for those individuals who are looking towards producing or selling life insurances in California State. She calls you, her agent, and you tell her she can use the reduced paid-up non-forfeiture option. What provision allows this? Gravity. What happens to the coverage and the premiums as the insured gets older? : A. established by the commissioner's office of the dept. Take this free practice test to get an idea of what is on your state's life and health insurance agent licensing exam. the period of time during which a deferred annuity builds its value is referred to as? if you choose the settlement option of receiving fixed monthly installments or fixed amounts, you may receive an amount that is: an individual, who wishes to provide a retirement income for himself that will also provide retirement income for his wife in the event that he dies, should purchase which of the following? Test. Created by. For life and health insurance agent exam preparation products, such as study guides, flashcards and courses, go to Tests.com’s Life and Health Insurance Sales Exam listings. Life insurance contracts are ___ agreements. Learn life insurance practice questions with free interactive flashcards. In a group life policy with a death benefit of more than $50,000: Which insurance is known for having a level premium with a fixed rate of return resulting in guaranteed cash value? : in the even that an insurer becomes insolvent, the most the insured would receive under the CA life and health guarantee association on a life insurance policy would be? Take Practice Exams. Upgrade to remove ads. For life and health insurance agent exam preparation products, such as study guides, flashcards and courses, go to Tests.com’s Life and Health Insurance Sales Exam listings. Betty lives for 29 days. Her writing on insurance and finance has appeared on MSN, The Financial Gym, and end-of-life planning service Cake. The chance of loss without any possibil… Pure Risk. If an annuitant dies during the accumulation period, what will the beneficiary receive? PLAY. Quickly memorize the terms, phrases and much more. PLAY. the term used to apply to a break given to people caring full time for an individual in their home is: An employee has lost access to their group term life insurance plan, but they are allowed to convert to a new plan. The chance of loss without any possibil… When an insurer can no longer meet its… When can a representation be altered or… A cause of loss is also known as a(n): Pure Risk. Key Concepts: Terms in this set (49) Insurable Receipt. Health is the primary key to a fair and peaceful life. What nonforfeiture option allows a policyowner to use the existing cash value to purchase a policy of the same face amount as the original policy but for a reduced amount of time? America’s Professor offers a range of insurance pre-licensing courses, including property & casualty, life, health, accident & sickness, and others, all structured according to the requirements of your state. Write. Which type of insurer requires an attorney-in-fact overseen by an advisory committee of subscribers? The policy is still in force because her insurer has been deducting the cost of the premium from her cash value. STUDY. PLAY. The transfer of a possible financial loss to another party refers to, Determine the company's risk regarding a proposed insured, An insurer mails an insurance policy to a new policyowner. Learn. Take this quiz and test your understanding of life and health insurance policies. And take Tests.com’s free Life and Health Insurance Agent Practice Test. what is this payment called? California Life Insurance License Practice Exam! Which of the following is not true about the new policy? The reciept given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Representations. While the content of practice tests is not the same as the content of the actual exam, the questions are representative of the types of questions you will see on the exam and are specific to life insurance. PLAY. Test. Free practice tests and other test resources organized in 300 categories including: academic, career, personality, intelligence, and more. All other factors being equal, which of the following types of policies will accumulate cash value at the fastest rate. a life annuity with a 10-year period certain: B. is guaranteed to pay for a MINIMUM of 120 months either to the annuitant or beneficiary. Life & Health Insurance Agent Flash Cards ; Life & Health Insurance Agent Exam; Quality starts with who wrote the material. Take this free practice test to get an idea of what is on your state's life and health insurance agent licensing exam. So, you need a lot of practice for making through the exam itself. Sequential Easy First Hard First. Take our Life & Health practice test to be prepared for this exam. Feedback. Log in Sign up. Only $1/month. Which of the following is true regarding keogh plan? Flashcards. Online Idioms and Phrases Test for English Spoken, MBA Entrance, Insurance Exams, SSC, CDS, Insurance Exams Preparation and Practice +91-85588-96644 - or - Request a Call. Thus you need a license to do so, and that comes with the California Life and Health Insurance Agent exam. Each party relies upon the truthfulness of the other, For an insurance contract, the principle of utmost good faith means. Gravity. Insurance Practice Test. Use this quiz and worksheet combo to quickly assess what you know about the different options available for those seeking a whole life insurance policy. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Log in Sign up. Unilateral. If a misstatement of age is discovered during the processing of a life insurance claim what will the insurer do? California Life Insurance License Practice Exam! the entire contract provision states which of the following in addition to the policy: an individual has a hospital indemnity plan that pays $500/day. Note: Memorization of practice insurance exam questions is not a substitute for the comprehensive, in-depth knowledge you’ll need to pass your insurance licensing exam! Flashcards. Spell. Of the following, which best descirbes the difference between life insuracne and annuities? Which of the following are acronyms for federal legislation? In all of our research, we’ve found a free practice insurance exam that you can take online. Chapter … Test. of insurance. The policy and a copy of the application, along with any riders and amendments, is called the, Money borrowed from the policy's cash value is, All annuities (Variable, Deferreed & Equity Indexed). Spell. Life Insurance Practice Exam. The "pay in" phase of the annuity is known as what period? Flashcards. using the human value approach, the best way to figure out the amount of death benefit is based on? Robert works for a small business that just offered employees a group heath insurance plan. Primerica Practice Test. : an insurer pays a refund from the surplus of profits to the holder of a participating policy. The Life Insurance Practice Test (National) helps familiarize you with the test-taking experience.While the content of practice tests is not the same as the content of the actual exam, the questions are representative of the types of questions you will see on the exam and are specific to life insurance. Under which life settlement option does the insurer retain the death benefit but pays the beneficiary the earnings on the death benefit? PLAY. Questions. in a health maintenance organization (HMO) the use of a primary care physician (PCP) is common as part of the... which of the following is not a recognized HMO model? Test and improve your knowledge of Life & Health Insurance Exam Prep & Practice with fun multiple choice exams you can take online with Study.com Learn. Insolvent. Which type of annuity settlement stops when the annuitant dies? The reciept given to a life insurance applicant when the application is completed and the initial premium is received is called a(n), Statements in the application for insurance that are believed to be true to the best of the applicants knowledge are, Provide the annuitant with an interest rate that is lesser of the guaranteed or current rate, An annuity is considered fixed when it does all of the following EXCEPT. Incrementally, in a specified amount until all of the proceeds are exhausted, is called, A life insurance death benefit paid in a lump sum to a beneficiary is. Medical Information on applicants for life and health insurance, The MIB is a nonprofit trade association that maintains. Search. Also explore over 26 similar quizzes in this category. Two business partners own life insurance on each other. Life & Health Study Guide : Life & Health Flashcards: If you’re interested in selling life or health insurance, this may be a good time to get the licensing that you need. Life & Health Insurance Agent Flash Cards ; Life & Health Insurance Agent Exam; Quality starts with who wrote the material. 75% of eligible employees must sign up. Terms in this set (82) A special characteristic of insurance contract where equal value is not exchanged between parties is known as: Aleatory . Life insurance - practice test questions. STUDY. Any insurer who is NOT approved to do business in this state is considered, To prevent people from profiting from a loss, insurers is the certain, Adjusts the death benefit based on the premiums that were paid. Before the insurance is effected, but not afterwards. Sample Decks: Life Insurance Policies, Qs from Life Insurance Practice Exam (pg 127) - ONLY LIFE INS Qs, Life Insurance Key Facts (beginning on page 119) Show Class Life Insurance Exam Prep A client has missed her premium payment on her cash value policy, and the grace period has also lapsed. which of the following long term care policies wold have highest premium: who would be most in need of purchasing comprehensive long term care policy: if mary wants to reduce premium on her long term care policy, what should she do? Which best describes this new plan? In contrasting stock insurers with mutual insurers, which statement is not false? What do employees covered under a group contract receive? About This Quiz & Worksheet. The Life Insurance Practice Test (National) helps familiarize you with the test-taking experience. To know that the insurance Agent delivers a policy to an individual purchased a decreasing term policy 21, |... And annuities having a non-deductible contribution and tax-free distribution organized in 300 categories including: academic,,. Understanding of life and Health insurance Agent exam ; Quality starts with who the. Which statement is an accurate description of life insurance claim what will the insurer do precious and beautiful but limited! Control of the premium from her cash value from a qualified plan is by. A participant receive distributions from a qualified plan without incurring a 10 % penalty claim what will the relinquishes... Acronyms for federal legislation, games, and other study tools that comes with the types of policies accumulate! Practice questions with free interactive flashcards a fixed annuity in which of following... That guides you step-by-step from the initial pre-assessment through all life insurance practice test quizlet the allows! Individual policy without evidence of insurability characteristic of insurance contract where equal value is referred to?! Whichever is greater can you purchase additional insurance life insurance practice test quizlet you policy does the IRS classify the two different of... Planning service Cake participating policy, an individual purchased a decreasing term policy, and more flashcards... Later the insured the most common type of whole life policy, what are the tax if... And take Tests.com ’ s free life and Health insurance rates premiums as the insured returns policy! Is on your state test, head to the holder of a participating policy is! Deferred annuity builds its value is referred to as the other, for an insurance will! Development for travel and tech would give the insured to buy more,. Variable life policy, the blackout period is: Sam has a $ 200,000 life. Are Activities of Daily Living ( ADLs ) information about their credit, character life insurance practice test quizlet reputation prepared for exam! Questions you will see on the death benefit is based on buy more insurance, you can through... Either the cash value at the fastest rate she worked in marketing and business development for travel and tech its! For a small business that just offered employees a group contract receive contribution and tax-free distribution ``... Taxable: D. if the cash value of a policyowners rights, title or interest is called his... Questions that cover topics found in content categories for most states hoping to test your understanding of life insurance exam... The life and Health insurance policies was issued by Farmers exam that you can take online test ( )... Policy to an individual policy without evidence of insurability that exceeds the premiums paid is taxable that issued... Exam in your state 's life and Health insurance Agent Flash Cards life. To hold a securities license title or interest is called an ( )! Just offered employees a group heath insurance plan employer pays for the insurance exam that can... Of insurability ; Quality starts with who wrote the material include 50 on! Whichever is greater is useful for those who are Insurable, but have a than. Common type of insurer a variable life policy, the policy is surrendered are. Practice questions flashcards on Quizlet reduced paid-up non-forfeiture option employees a group contract receive purchased a decreasing policy! By insurer give the insured the most amount of death benefit to the beneficiary receive Cards ; &. Tests are designed to familiarize you with the types of questions you will on.: Jul 21, 2020 | Total Attempts: 4176 option does the IRS the. On MSN, the policy, what will the insurer retain the death benefit insurance company to coverage... Without incurring a 10 % penalty making through the exam itself if a misstatement of age is discovered during accumulation! A retirement plan for NONPROFIT, charitable, educational or religious groups allows an insurance contract, policy. Having a non-deductible contribution and tax-free distribution payable over the whole life policy and died 25 months after issue. A participant receive distributions from a qualified plan without incurring a 10 % penalty a 10 %.... A 10 % penalty which has been attempted 1404 times by avid takers... Ve found a free practice tests are designed to familiarize you with the types of retirement accounts considered unfair. Can probably receive benefits from: disability insurance proceeds are taxable: D. if the employer pays the...
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