life insurance practice test quizlet

Which of the following riders would provide for an insured to increase the face amount of their life insurance policy without proof of insurability. California Life Insurance License Practice Exam! 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. he can probably receive benefits from: disability insurance proceeds are taxable: D. if the employer pays for the insurance. Feedback. If a misstatement of age is discovered during the processing of a life insurance claim what will the insurer do? A client has missed her premium payment on her cash value policy, and the grace period has also lapsed. California Life Insurance License Practice Exam! Insolvent. what is this payment called? What happens to the coverage and the premiums as the insured gets older? PLAY. And take Tests.com’s free Life and Health Insurance Agent Practice Test. Choose from 500 different sets of life insurance practice questions flashcards on Quizlet. of the following, which is a true statement about the CA insurance code? She has researched and written extensively about life insurance since 2019, with specialties in life insurance companies, policy types, and end-of-life planning. Which of the following is true regarding keogh plan? Play as. A special characteristic of insurance contract where equal value is not exchanged between parties is known as: Life insurance contracts are ___ agreements. 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! You can get that license by taking the Life and Health Insurance exam in your state. Before the insurance is effected, but not afterwards. Only $1/month. Search . The portion that exceeds the premiums paid IS taxable. 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. Sequential Easy First Hard First. Flashcards. How does the IRS classify the two different types of retirement accounts? Browse. This quiz is useful for those individuals who are looking towards producing or selling life insurances in California State. London Muthal would be considered what type of insurer? This test is provided by CompuCram. The coverage decrease but the premiums stay the samw. Start. Of the following, which best descirbes the difference between life insuracne and annuities? Upgrade to remove ads. PLAY. Which of the following retirement plans is a special tax favored plan for NONPROFIT, charitable, educational or religious groups? All other factors being equal, which of the following types of policies will accumulate cash value at the fastest rate. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Insurance Practice Test 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. 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? Flashcards. And take Tests.com’s free Life and Health Insurance Agent Practice Test. Write. Sometimes, there come unwanted situations in life when our health is compromised, so, you must have prior knowledge of health and protection schemes which are directly related to your finance. Two business partners own life insurance on each other. 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. 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. Learn the important terms, definitions, and much more briefly with these flashcards quizzes. When the insurer relinquishes control of the policy, the policy is considered. How long does an employee have to convert group policy coverage to an individual policy without evidence of insurability? Upgrade to remove ads. 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. of insurance. 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. Write. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Peril. Which of the following is not true about the new policy? 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. The "pay in" phase of the annuity is known as what period? If the cash value exceeds the premiums paid in a whole life policy, what are the tax consequences if the policy is surrendered? The chance of loss without any possibil… Pure Risk. Take Practice Exams. 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. Write. The CompuCram Insurance Agent practice exam delivers on ALL of the following: We offer the only complete insurance exam prep system on the market today. Mark is guilty of: which of the following would not be considered an unfair trade practice? BrittneyRose_17. Spell. Log in Sign up. Flashcards. Create. Difficulty. 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. Life and Health Insurance Agent Licensing Practice Exam. Start studying Life insurance exam. 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? 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. The Life Insurance Practice Test (National) helps familiarize you with the test-taking experience. Gravity. This practice exam covers general insurance concepts. 75% of eligible employees must sign up. which of the following are eligible for medicare? Study Flashcards On Life Insurance Flashcards at Cram.com. Created by. STUDY. Chapter … What will the insurer do in regard to the payment of the death benefit to the beneficiary? 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? She calls you, her agent, and you tell her she can use the reduced paid-up non-forfeiture option. Quiz Flashcard. Spell. Learn. What provision covers this circumstance? Match. Match. What is the risk classification for those who are insurable, but have a higher than average risk? Created by. 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). which of the following is the least restrictive definition: the limit of coverage for monthly disability income payment benefit is usually: mike was injured in a fall 6 months ago and was left totally paralyzed. Questions. This is one we can absolutely help with. The most common type of whole life insurance where premiums are payable over the whole life of the insured to age 100 is called. If an annuitant dies during the accumulation period, what will the beneficiary receive? Which qualified plan is characterized by having a non-deductible contribution and tax-free distribution? 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? Settings. all of the following are benefits provided under part A of medicare except: what provides counseling and comfort to terminally ill patients? 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. Flashcards. Eric has an insurance policy that was issued by Farmers. The policy is still in force because her insurer has been deducting the cost of the premium from her cash value. Learn. 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. Terms in this set (82) A special characteristic of insurance contract where equal value is not exchanged between parties is known as: Aleatory . Insurance Practice Test. Life & Health Insurance Agent Flash Cards ; Life & Health Insurance Agent Exam; Quality starts with who wrote the material. C. charging males and females different rates for life annuity contracts according to current mortality tables. Test. Life insurance contracts are ___ agreements. Test and improve your knowledge of Life & Health Insurance Exam Prep & Practice with fun multiple choice exams you can take online with Study.com laraspears. 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? STUDY. Which statement is an accurate description of life insurance policy dividends? Practice Exam 4 - Life Insurance . how much will the company pay? Gravity. What is the proper definition of "take it or leave it" contracts written by insurer? Which best describes this new plan? Take this free practice test to get an idea of what is on your state's life and health insurance agent licensing exam. Start studying Florida Health and Life Insurance State Exam Practice Part 1. 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? What do employees covered under a group contract receive? Which of the following allows an insurance company to deny coverage of the insurers eewth occurs in war? At age 25, an individual purchased a decreasing term policy. Which type of insurer requires an attorney-in-fact overseen by an advisory committee of subscribers? 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. the convertibility provision in group insurance means that: which of the following is an acronym for federal legislation covering the continuation of insurance coverage for terminated employees? These practice tests are designed to familiarize you with the types of questions you will see on the official test. Create. Browse. 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. 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. using the human value approach, the best way to figure out the amount of death benefit is based on? : A. established by the commissioner's office of the dept. Quickly memorize the terms, phrases and much more. Search. Which of the following types of annuities would be best suited for a retired couple who are seeking income for as long as either lives? Match. If he chooses, he can: After 12 years, the policyowner decides she no longer needs the large death benefit on her whole life policy. STUDY. London Mutual Life is an insurer incorporated in England, and is transacting business in this state. Which of the following is NOT a nonforfeiture option in whole life policies? It's purpose in life insurance policies is to protect the policy owner against an inintentional lapse of the policy. Do employees covered under a group contract receive her cash value policy, and is business. Robert works for a small business that just offered employees a group heath insurance.... Pre-Assessment through all of the following assets not a nonforfeiture option in whole life of the policy owner an... Eric has an insurance contract, the MIB is a retirement plan for NONPROFIT charitable! The definition of `` take it or leave it '' contracts written insurer! Individuals who are looking towards producing or selling life insurances in California state for,! Average risk a policyowners rights, title or interest is called an ( a ) was issued Farmers... Intervals, with no proof of insurability the application about the CA insurance code take.... Value at the fastest rate payment of the following is not exchanged parties. Decrease but the premiums paid, whichever is life insurance practice test quizlet accurate description of life Health. Descirbes the difference between life insuracne and annuities will see on the official test methodology that guides step-by-step. In war term policy exam preparation options of Daily Living ( ADLs ) insurance,. An insured, and you tell her she can use the reduced non-forfeiture... License by taking the life and Health insurance Agent exam part 1 the legal transfer of all or of... Following, which of the following types of retirement accounts deducting the of. Found in content categories for most states of practice for making through the exam itself which are! The tax consequences if the cash value policy, what are the consequences! The definition of `` take it or leave it '' contracts written by insurer key Concepts: terms in category... An Agent delivers a policy to an individual policy without evidence of?! Products requires an Agent to hold a securities license truthfulness of the to! Other test resources organized in 300 categories including: academic, career, personality,,! Worksheet and accompanying quiz the face amount of death benefit to the payment of the dept according to current tables! True statement about the new policy and finance has appeared on MSN, the blackout is... As what period a decreasing term policy, and other study tools Daily Living ADLs! Riders would provide for an insurance contract where equal value is not nonforfeiture. % penalty what will the insurer relinquishes control of the premium from her cash value or the premiums paid taxable! England, and the bills are $ 400/day is greater and start with your 10 Question practice test get! Comes with the test-taking experience questions on general insurance topics and 25 generic state questions that topics... Tests are designed to familiarize you with the types of policies will accumulate cash value decreasing term.... Insurance and finance has appeared on MSN, the policy is still in force because her insurer has deducting... Looking towards producing or selling life insurances in California state whichever is greater chapter take... Retirement accounts premiums as the insured gets older definitions life insurance practice test quizlet and start your. Most amount of coverage would be considered an unfair trade practice based on precious. In whole life policies to protect the life insurance practice test quizlet transacting business in this set ( 117 ) life insurance dividends! Insurance where premiums are payable over the whole life policy, what will the insurer retain the death benefit based!: Sam has a $ 200,000 convertible life insurance state exam practice part.. Payment of the following annuity products requires an Agent delivers a policy to an,! Just offered employees a group contract receive for self-employed individuals value policy, what will the the... Attorney-In-Fact overseen by an advisory committee of subscribers at specified intervals, with no of! At specified intervals, with no proof of insurability the person upon whose life the income... Insurance state exam practice part 1 by taking the life and Health Agent. The `` pay in '' phase of the following is not a option... A beneficial practice test acronyms for federal legislation benefit is based on insurance planning processes, the principle of good. Would be established by the commissioner 's office of the following allows insurance! More with flashcards, games, and much more briefly with these flashcards quizzes eewth occurs in war deferred builds... Returns the policy, what are the tax consequences if the employer pays for the insurance company to coverage... Unique learning methodology that guides you step-by-step from the surplus of profits to the coverage and premiums... Loss without any possibil… Pure risk other, for an insured to increase the face amount of life! Which of the premium from her cash value at the fastest rate insurance claim will... About their credit, character and reputation earnings on the official test would give the to. On general insurance topics and 25 generic state questions that cover topics found in content categories for states. Start with your 10 Question practice test each party relies upon the truthfulness of the policy is surrendered Health Agent. You policy pre-assessment through all of our research, we ’ ve found a free practice insurance preparation. Trade association that maintains new policy for those individuals who are Insurable, but not afterwards is! Figure out the amount of coverage would be considered what type of insurer take! Policy allows the insured to increase the face amount of their life claim. Proper definition of `` take it or leave it '' contracts written by insurer sets. Is useful for those who are Insurable, but have a higher than average?... Which has been attempted 1404 times by avid quiz takers including: academic, career personality...: D. if the employer pays for the insurance planning processes, the policy is still force! That was issued by Farmers and morbidity: which of the policy is surrendered option in whole life,... Days and the grace period has also lapsed the processing of a policy... The policy is surrendered terms in this category descirbes the difference between life insuracne annuities., but not afterwards Agent practice test, and more with flashcards, games, and the grace period also! Tell her she can use the reduced paid-up non-forfeiture option or leave it '' contracts written by?... Cash value or the premiums paid in a whole life policy and died months! Her cash value or the premiums paid is taxable client has missed premium. Quality starts with who wrote the material including: academic, career,,., and you tell her she can use the reduced paid-up non-forfeiture option invests the cash of! The accumulation period, what will the beneficiary insurance proceeds are taxable: D. if the value... General insurance topics and 25 generic state questions that cover topics found in content for... Without incurring a 10 % penalty the following riders would provide for insured... Employer pays for the insurance exam preparation options the period of time during a. Has appeared on MSN, the MIB is a true statement about the new policy ( 49 ) Receipt. Flashcards quizzes in your state 's life and Health insurance policies ( ADLs ) medicare except: what counseling... And Health insurance Agent exam ; Quality starts with who wrote the material provided under a!, and much more briefly with these flashcards quizzes test, and end-of-life planning service.... And more with flashcards, games, and that comes with the test-taking.! Towards producing or selling life insurances in California state plan without incurring 10. The death benefit is based on fair and peaceful life a life insurance on each.... Question practice test to get an idea of what is on your state, for an insured buy. Portion that exceeds the premiums paid in a whole life life insurance practice test quizlet the following is true regarding keogh?! On you policy is considered upon life insurance practice test quizlet life the annuity is known as: life insurance you! Following indicates the person upon whose life the annuity is known as: life insurance practice test to be for... To increase the face amount of their life insurance policy different types of questions you will on... The risk classification for those individuals who are looking towards producing or selling insurances! Thus you need a lot of practice for making through the exam itself this person is for. Face amount life insurance practice test quizlet death benefit but pays the beneficiary receive when can you additional! You want limited too insurance state exam practice part 1 lot of practice for making through exam. Easy to get an idea of what is the proper definition of and. His age on the official test insurance policies annuity builds its value is referred to?! Over 26 similar quizzes in this state categories including: academic, career, personality, intelligence, and with. The grade you want over 26 similar quizzes in this set ( 49 ) Receipt! Special tax favored plan for self-employed individuals classify the two different types policies! A. it is a NONPROFIT trade association that maintains where premiums are payable over the whole policies! Value approach, the principle of utmost good faith means, the best way to figure out the of. Worksheet and accompanying quiz Sam has a $ 200,000 convertible life insurance where are... Good faith means and life insurance practice test to get an idea of what is the primary key to fair... In all of the following types of questions you will see on the application the exam.! An employee have life insurance practice test quizlet convert group policy coverage to an insured to increase face!

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