kentucky Life and health state exam
simulator #1: Exam LATEST Test and Exam
question and answers latest update 2026
RATED A+
Misrepresentation
misrepresentation
- CORRECT ANSWERS Making, issuing or circulating any estimate, illustration, circular, or
statement that distorts the terms of any policy is prohibited and defined a
Certificate of Authority - CORRECT ANSWERS What a Commissioner can issue, evidencing the
authority of an insurer to transact insurance in this state
Recurrent Disability - CORRECT ANSWERS When an insured has the same disability within a
specified time period and the insurance company provides the same benefits without a new waiting
period, the second disability is covered under this
Prescription Drug Benefits - CORRECT ANSWERS Provides comprehensive insurance coverage
Industrial life insurance is a form of life insurance written under policies having a face value amount of -
CORRECT ANSWERS $3,000 or less
Best describes the intent of a Coinsurance clause in a major medical policy - CORRECT ANSWERS
discourages overutillization of the insurance coverage
NOT required when an insurance company requests an inspection report - CORRECT ANSWERS
Consent of the agent
Insurer and Employer - CORRECT ANSWERS Parties directly involved in a group accident and
health insurance contract
When determining the accumulation value of a deferred annuity, the total is calculated by taking the
premiums paid plus interest, and then subtracting the: - CORRECT ANSWERS Withdrawals
and expenses
Statements contained in advertisements with respect to the business of insurance which are untrue,
deceptive, or misleading are: - CORRECT ANSWERS Prohibited under state late
Medical Information Bureau consists of members from which group? - CORRECT ANSWERS
insurance companies
Defamation - CORRECT ANSWERS A statement that is false or maliciously critical of the
financial condition of an insurer
, Medicare Part B excess charges are covered by: - CORRECT ANSWERS Medicare supplements
Maximum period of time for which a person can hold a temporary license? - CORRECT ANSWERS
180 days
An agent is required to register with FINRA in order to sell? - CORRECT ANSWERS Variable Life
This rider cannot increase the death benefit amount - CORRECT ANSWERS Waiver of
Premium
Producer is not responsible to provide this, when delivering an insurance policy - CORRECT ANSWERS
A conditional receipt. That is normally given prior to policy being issued.
Is NOT an Unfair Claim Settlement Practice - CORRECT ANSWERS Providing claim payments to
insureds accompanied by a statement setting forth the coverage under which payment is made
A signed good health statement would be collected by a life producer at the time of: - CORRECT
ANSWERS Policy Delivery
The Commissioner of Insurance is: - CORRECT ANSWERS Appointed by the governor
What does Medicare Parts A and B cover? - CORRECT ANSWERS Part A covers hospitalization;
Part B covers doctor's services
An insurable risk requires: - CORRECT ANSWERS That the chance of loss be measurable
In an insurance contract, the insurer is the only party who makes a legally enforceable promise. What
kind of contract is this? - CORRECT ANSWERS Unilateral
To avoid having to take another examination, an agent who allows his license to lapse must reinstate
the license within - CORRECT ANSWERS 12 months from the due date of the renewal fee
A person who commits insurance fraud is guilty of a misdemeanor if the claim, benefit, or money
involved in the illegal activity is: - CORRECT ANSWERS $300 or less
What is the fine for violation of the HIV testing and disclosure procedures? - CORRECT ANSWERS
Not less than $50 or more than $100
Medicaid is funded by which entity (entities)? - CORRECT ANSWERS both federal and state
governments
Policy that has benefits that are considered taxable? - CORRECT ANSWERS Noncontributory
Group Disability Income Policy
Steve is a producer who offers 2 tickets to the Super Bowl as an incentive for drawn to buy a very large
whole life policy. Which unfair trade practices Steve in violation of? - CORRECT ANSWERS
Rebating (illegal inducements)
simulator #1: Exam LATEST Test and Exam
question and answers latest update 2026
RATED A+
Misrepresentation
misrepresentation
- CORRECT ANSWERS Making, issuing or circulating any estimate, illustration, circular, or
statement that distorts the terms of any policy is prohibited and defined a
Certificate of Authority - CORRECT ANSWERS What a Commissioner can issue, evidencing the
authority of an insurer to transact insurance in this state
Recurrent Disability - CORRECT ANSWERS When an insured has the same disability within a
specified time period and the insurance company provides the same benefits without a new waiting
period, the second disability is covered under this
Prescription Drug Benefits - CORRECT ANSWERS Provides comprehensive insurance coverage
Industrial life insurance is a form of life insurance written under policies having a face value amount of -
CORRECT ANSWERS $3,000 or less
Best describes the intent of a Coinsurance clause in a major medical policy - CORRECT ANSWERS
discourages overutillization of the insurance coverage
NOT required when an insurance company requests an inspection report - CORRECT ANSWERS
Consent of the agent
Insurer and Employer - CORRECT ANSWERS Parties directly involved in a group accident and
health insurance contract
When determining the accumulation value of a deferred annuity, the total is calculated by taking the
premiums paid plus interest, and then subtracting the: - CORRECT ANSWERS Withdrawals
and expenses
Statements contained in advertisements with respect to the business of insurance which are untrue,
deceptive, or misleading are: - CORRECT ANSWERS Prohibited under state late
Medical Information Bureau consists of members from which group? - CORRECT ANSWERS
insurance companies
Defamation - CORRECT ANSWERS A statement that is false or maliciously critical of the
financial condition of an insurer
, Medicare Part B excess charges are covered by: - CORRECT ANSWERS Medicare supplements
Maximum period of time for which a person can hold a temporary license? - CORRECT ANSWERS
180 days
An agent is required to register with FINRA in order to sell? - CORRECT ANSWERS Variable Life
This rider cannot increase the death benefit amount - CORRECT ANSWERS Waiver of
Premium
Producer is not responsible to provide this, when delivering an insurance policy - CORRECT ANSWERS
A conditional receipt. That is normally given prior to policy being issued.
Is NOT an Unfair Claim Settlement Practice - CORRECT ANSWERS Providing claim payments to
insureds accompanied by a statement setting forth the coverage under which payment is made
A signed good health statement would be collected by a life producer at the time of: - CORRECT
ANSWERS Policy Delivery
The Commissioner of Insurance is: - CORRECT ANSWERS Appointed by the governor
What does Medicare Parts A and B cover? - CORRECT ANSWERS Part A covers hospitalization;
Part B covers doctor's services
An insurable risk requires: - CORRECT ANSWERS That the chance of loss be measurable
In an insurance contract, the insurer is the only party who makes a legally enforceable promise. What
kind of contract is this? - CORRECT ANSWERS Unilateral
To avoid having to take another examination, an agent who allows his license to lapse must reinstate
the license within - CORRECT ANSWERS 12 months from the due date of the renewal fee
A person who commits insurance fraud is guilty of a misdemeanor if the claim, benefit, or money
involved in the illegal activity is: - CORRECT ANSWERS $300 or less
What is the fine for violation of the HIV testing and disclosure procedures? - CORRECT ANSWERS
Not less than $50 or more than $100
Medicaid is funded by which entity (entities)? - CORRECT ANSWERS both federal and state
governments
Policy that has benefits that are considered taxable? - CORRECT ANSWERS Noncontributory
Group Disability Income Policy
Steve is a producer who offers 2 tickets to the Super Bowl as an incentive for drawn to buy a very large
whole life policy. Which unfair trade practices Steve in violation of? - CORRECT ANSWERS
Rebating (illegal inducements)
