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

A.  

Long-Term Care Insurance premiums

B.  

Group Disability Insurance premiums

C.  

Personal Disability Income Insurance premiums

D.  

Accidental Death and Dismemberment Insurance premiums

A.  

a universal life policy.

B.  

a survivorship life policy.

C.  

a joint life policy.

D.  

an annuity life policy.

A.  

after the premium is paid and before the policy is issued.

B.  

after the premium is received and before the policy is issued.

C.  

between the death of the insured individual and the payment of the benefits.

D.  

when the policyowner is protected from an unintentional lapse of the policy.

A.  

The insured invests payments in variable securities, and the return fluctuates with an uncertain economic market.

B.  

There is no guaranteed specific benefit amount to the annuitant.

C.  

Annuitants could experience a decrease in the purchasing power of their payments over a period of years due to inflation.

D.  

Payments continue only for a maximum of 2 years after the annuitant’s death.

A.  

incorporated.

B.  

without capital stock.

C.  

for profit.

D.  

conducted solely for the benefit of its members.

A.  

Guaranteed renewability

B.  

Guaranteed insurability

C.  

Cost of living

D.  

Disability income

A.  

business continuation life.

B.  

business overhead.

C.  

key person.

D.  

employee welfare.

A.  

terminal illness.

B.  

drowning.

C.  

infections.

D.  

self-inflicted wounds.

A.  

Clauses.

B.  

Credit report.

C.  

Provisions.

D.  

The application.

A.  

This violation can result in a fine of up to $10,000.

B.  

This violation is a felony and can result in a fine of up to $5,000.

C.  

This violation is a misdemeanor and can result in a fine of up to $500.

D.  

This individual could be committed to the custody of the Department of Corrections for up to 10 years.