Ok-Life-Accident-and-Health-or-Sickness-Producer Practice Questions

A.  

accelerate the benefits under the policy.

B.  

are not treated as taxable income.

C.  

are subject to Federal estate tax.

D.  

generate nontaxable interest income.

A.  

coinsurance.

B.  

suitability.

C.  

contestability.

D.  

accountability.

A.  

the insured must report all information about family illnesses.

B.  

a physical examination must be performed by a licensed physician.

C.  

all possible serious medical conditions must be diagnosed and recorded.

D.  

the insured individual’s medical history may be reviewed and reported.

A.  

policyowner wants to borrow against the life insurance policy values.

B.  

policyowner desires an accumulation of cash values.

C.  

maximum protection is needed, but the insured cannot afford premium payments for permanent insurance.

D.  

insured needs low cost permanent life insurance protection.

A.  

Fixed period.

B.  

Pure life income.

C.  

Asset withdrawal.

D.  

Life income with period certain.

A.  

merges with a foreign insurer.

B.  

becomes financially insolvent.

C.  

cannot meet its capital surplus requirements.

D.  

depletes its loss reserves.

A.  

Air travel in a private plane.

B.  

Injury due to auto accidents.

C.  

Injury due to recreational sports.

D.  

Injury caused by repairs or renovations to one’s own home.

A.  

dual capacity

B.  

family term

C.  

whole

D.  

joint

A.  

communication of information among persons related by common ownership.

B.  

any report containing information solely as to transactions between the consumer and the person making the report.

C.  

communication of information by a consumer reporting agency bearing on a consumer’s credit standing, worthiness, or personal characteristics.

D.  

any authorizations or approval of a specific extension of credit, directly or indirectly, by the issuer of a credit card.

A.  

$5,000

B.  

$3,000

C.  

$1,800

D.  

$1,000