UTAH LIFE INSURANCE TEST 100
QUESTIONS AND ANSWERS UPDATED 2026
VERIFIED ANSWERS ACTUAL UPDATED
PRACTICE QUESTIONS HIGH YIELD STUDY
GUIDE GRADED A+
Minimum Age to receive a license - CORRECT ANSWER -18
Continuing Education Hours - CORRECT ANSWER -24 Hours every 2
years (3 Hours must be in ethics)
Insurer must respond to claimant communications within how many days? -
CORRECT ANSWER -15 days
Commissioner Powers and duties include: - CORRECT ANSWER -
Imposing penalties, including fines, suspensions, and revocations.
All insurance forms (riders, policies, applications, endorsements, and contracts)
must be filed and approved by the Commissioner.
Gramm-Leach-Bliley Act (GLBA) - CORRECT ANSWER -Consumer -
An individual about whom a company collects information is a consumer.
Customer - A customer is a consumer that has developed an ongoing
relationship with a financial institution.
Privacy Notices must explain: - CORRECT ANSWER -What info the
company gathers about the customer.
Where that info is shared
How the company safeguards that info
,Fair Credit Reporting Act - CORRECT ANSWER -Responsible for the opt-
out opportunity, but the privacy notice must inform the customer of this right
under the GLBA.
Insurance Consultants - CORRECT ANSWER -To become licensed as an
insurance consultant, a producer must have been licensed and actively
transacted inurance for at least three of the four years immediately preceding the
application for a consultants license.
License Requirements - CORRECT ANSWER -18 years old at least.
Appointments - CORRECT ANSWER -All producers must be appointed by
at least one insurer.
Misrepresentation - CORRECT ANSWER -It is illegal to make any written
or oral statement, sales presentation, or comparison that; misrepresents the
dividends, benefits, advantages, conditions, or terms of any policy.
Example: uses a name of any insurance policy that misrepresents its true nature.
False Advertising - CORRECT ANSWER -It is illegal for any producer to
formulate or use an advertisement or statement that is untrue, deceptive, or
misleading regarding any insurance company or persons associated with that
company.
Defamation - CORRECT ANSWER -Making any statement, written or oral,
that is false or maliciously critical of the financial condition of an insurance
company or a producer representing that company is illegal.
, Rebating - CORRECT ANSWER -Offering valuable consideration, other
than that which is offered in the contract as an inducement to purchase a policy
is illegal.
Coercion - CORRECT ANSWER -Forcing a person to buy insurance
through a particular company or producer.
Unfair Discrimination - CORRECT ANSWER -It is illegal to unfairly
discriminate between individuals of the same class and equal life expectancy in
the rates, dividends, benefits, or terms of any life or life annuity contract.
Unfairly discriminate between neighborhoods within a municipality and of
essentially the same hazard. Use sexual orientation in the underwriting process
or in the determination of insurability.
A producer cannot share commissions with: - CORRECT ANSWER -
Someone that is not a life insurance agent. Monies may not be commingled with
the producer's personal funds.
Insurance Fraud: - CORRECT ANSWER -Anyone who knowingly
misappropriates insurance premiums, makes any material false statement of an
insurance application, or makes a false insurance claim commits insurance
fraud.
McCarran Ferguson Act - CORRECT ANSWER -The fed govt had the
right to regulate the business of insurance but only to the extent that such
business is not regulated by state law (which most are) They did this with the
intent of not having to regulate them against the provisions of the fed antitrust
laws.
Notice to Applicant - CORRECT ANSWER -Notifies the applicant that a
report will be ordered concerning their past credit history and any other life or
health insurance for which they have previously applied.
QUESTIONS AND ANSWERS UPDATED 2026
VERIFIED ANSWERS ACTUAL UPDATED
PRACTICE QUESTIONS HIGH YIELD STUDY
GUIDE GRADED A+
Minimum Age to receive a license - CORRECT ANSWER -18
Continuing Education Hours - CORRECT ANSWER -24 Hours every 2
years (3 Hours must be in ethics)
Insurer must respond to claimant communications within how many days? -
CORRECT ANSWER -15 days
Commissioner Powers and duties include: - CORRECT ANSWER -
Imposing penalties, including fines, suspensions, and revocations.
All insurance forms (riders, policies, applications, endorsements, and contracts)
must be filed and approved by the Commissioner.
Gramm-Leach-Bliley Act (GLBA) - CORRECT ANSWER -Consumer -
An individual about whom a company collects information is a consumer.
Customer - A customer is a consumer that has developed an ongoing
relationship with a financial institution.
Privacy Notices must explain: - CORRECT ANSWER -What info the
company gathers about the customer.
Where that info is shared
How the company safeguards that info
,Fair Credit Reporting Act - CORRECT ANSWER -Responsible for the opt-
out opportunity, but the privacy notice must inform the customer of this right
under the GLBA.
Insurance Consultants - CORRECT ANSWER -To become licensed as an
insurance consultant, a producer must have been licensed and actively
transacted inurance for at least three of the four years immediately preceding the
application for a consultants license.
License Requirements - CORRECT ANSWER -18 years old at least.
Appointments - CORRECT ANSWER -All producers must be appointed by
at least one insurer.
Misrepresentation - CORRECT ANSWER -It is illegal to make any written
or oral statement, sales presentation, or comparison that; misrepresents the
dividends, benefits, advantages, conditions, or terms of any policy.
Example: uses a name of any insurance policy that misrepresents its true nature.
False Advertising - CORRECT ANSWER -It is illegal for any producer to
formulate or use an advertisement or statement that is untrue, deceptive, or
misleading regarding any insurance company or persons associated with that
company.
Defamation - CORRECT ANSWER -Making any statement, written or oral,
that is false or maliciously critical of the financial condition of an insurance
company or a producer representing that company is illegal.
, Rebating - CORRECT ANSWER -Offering valuable consideration, other
than that which is offered in the contract as an inducement to purchase a policy
is illegal.
Coercion - CORRECT ANSWER -Forcing a person to buy insurance
through a particular company or producer.
Unfair Discrimination - CORRECT ANSWER -It is illegal to unfairly
discriminate between individuals of the same class and equal life expectancy in
the rates, dividends, benefits, or terms of any life or life annuity contract.
Unfairly discriminate between neighborhoods within a municipality and of
essentially the same hazard. Use sexual orientation in the underwriting process
or in the determination of insurability.
A producer cannot share commissions with: - CORRECT ANSWER -
Someone that is not a life insurance agent. Monies may not be commingled with
the producer's personal funds.
Insurance Fraud: - CORRECT ANSWER -Anyone who knowingly
misappropriates insurance premiums, makes any material false statement of an
insurance application, or makes a false insurance claim commits insurance
fraud.
McCarran Ferguson Act - CORRECT ANSWER -The fed govt had the
right to regulate the business of insurance but only to the extent that such
business is not regulated by state law (which most are) They did this with the
intent of not having to regulate them against the provisions of the fed antitrust
laws.
Notice to Applicant - CORRECT ANSWER -Notifies the applicant that a
report will be ordered concerning their past credit history and any other life or
health insurance for which they have previously applied.
