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Insurance Licensing Life and Accident and Health or Sickness Producer - Combo Series 20-30 Sample Questions:
1. An insurance producer provided several examples to the applicant persuasively demonstrating that the insurance coverage offered under his company's policy was superior to a competitor's product. The insurance producer knew he was misrepresenting or stretching the truth in order to induce the applicant to forfeit her current policy and purchase a similar but inferior insurance policy from him. The insurance producer is involved in which one of the following unfair trade practices?
A) Fraud
B) Twisting
C) Discrimination
D) Rebating
2. The time when an insured must be disabled before becoming eligible for disability benefits is the:
A) Grace period
B) Elimination period
C) Contestability period
D) Benefit period
3. All of the following are characteristics of a preferred risk applicant for disability income insurance EXCEPT:
A) Non-hazardous occupation
B) Non-smoker
C) High income
D) Physically active
4. The designation of a beneficiary by class in a life insurance policy means that:
A) The policy must be a form of business life insurance
B) The beneficiaries are unrelated to the insured
C) Individual beneficiaries are not specified by name
D) A primary beneficiary cannot be designated in the policy
5. An insurance agent ' s license may be revoked for all of the following reasons EXCEPT:
A) Being convicted of a felony
B) Having been found guilty of rebating
C) Violating any insurance statute or regulation
D) Having no insurer appointment in effect for ten days
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: D |
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