Health Care > EXAM > Life and Health insurance Test| 330 questions| with complete solution (All)

Life and Health insurance Test| 330 questions| with complete solution

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which of the following is not a term for the period of time during which the annuitant receives income? Correct Answer: depreciation period in an adjustable life policy all of the following can be changed by the policy owner except Correct Answer: the type of investment any licensed person whose activities affect interstate commerce and who knowingly make false material statements related to the business of insurance may be imprisoned for up to Correct Answer: 10 years within how many days must a producer respond to an inquiry from the commissioner Correct Answer: 30 days which of the following is not a goal of risk retention Correct Answer: to minimize the insureds level of liability in the event of loss which of the following best defines target premium in a universal life policy Correct Answer: the recommended amount to keep the policy in force throughout its lifetime the annual contribution limit of a dependent care flexible spending account is set by Correct Answer: the IRS an individual is purchasing a permanent life insurance policy with a face value of $25,000. while this is all the insurance that he can afford at this time, he wants to be sure that additional coverage will be available in the future. which of the following options should be included in the policy Correct Answer: guaranteed insurability option what is a foreign insurer Correct Answer: an insurer with a home office in another state an insured receives an annual life insurance dividend check: what term best describes this arrangement Correct Answer: cash option the term illustration in a life insurance policy refers to Correct Answer: a presentation of nonguaranteed elements of a policy the omnibus budget reconciliation act of 1990 requires that large group health plans must provide primary coverage for disabled individuals under Correct Answer: age 65 who aren't retired which of the following licensees is classified as a representative of the insurance company and not allowed to represent an insured or claimant Correct Answer: producer which of the following statements about a suicide clause in a life insurance policy is true Correct Answer: suicide is excluded for specific period of years and covered thereafter

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