PA LIFE INSURANCE CORE EXAM 2026 TEST QUESTIONS
AND ANSWERS SCORED A+
✔✔Which of the following is TRUE regarding the owners rights if an irrevocable
beneficiary is designated? - ✔✔The owner retain the right to make a premium payment
✔✔When may a policy owner change a revocable beneficiary? - ✔✔At any time
✔✔In which of the following must a beneficiary change request be filed in writing to the
insurer and is made effective by the insurance company recording the change in its
records? - ✔✔Recording method
✔✔How does the per capita rule apply process from a life insurance policy? - ✔✔The
proceeds are divided equally among living primary beneficiaries
✔✔An insured and the beneficiary are both killed in a fatal accident. Which provision
presumes the insured survive the beneficiary? - ✔✔Common disaster clause
✔✔The feature of a life insurance policy stating that the policy will NOT cover certain
risks is known as - ✔✔Exclusion
✔✔Which of the following provides for the continuance of life insurance coverage on a
juvenile in the event of the death or total disability of the individual responsible for the
payment of the premiums? - ✔✔Pay or clause
✔✔All of the following are non-forfeiture options EXCEPT - ✔✔Cash dividend option
✔✔Standard nonforfeiture benefits include - ✔✔Reduced paid-up insurance
✔✔What is an impairment rider - ✔✔It lists specific conditions in the contract that are
excluded from the contract
✔✔Which one of the following represents an advantage of obtaining a policy loan
versus a withdrawal - ✔✔The loan is not taxed while a withdrawal is taxed for amount
above the contract cost basis
✔✔Which of the following policy loans is a provision in which an amount equal to the
premium due is subtracted from the cash value to pay the premium and prevent a lapse
of the policy? - ✔✔Automatic premium loan
✔✔Why is the accident death benefit referred to as double indemnity - ✔✔It provides
twice the face value in the policy for death due to accident
, ✔✔What is it called when a life insurance policy pays a multiple of the coverage amount
when certain type of accident occur? - ✔✔Multiple indemnity
✔✔Which option enable the insured to purchase additional disability income protection
at specific future dates at the applicable premium rate at the attained age at the time of
future purchase? - ✔✔Guaranteed insurability
✔✔What is the return of premium rider? - ✔✔An increasing amount of term insurance
that always equals the total of premiums paid-up to the current point
✔✔Which type of rider reimburses health and social services expenses incurred in a
convalescent or nursing home facility - ✔✔Long term care rider
✔✔How are the term riders used - ✔✔To purchase insurance on a family member of the
originally insured
✔✔At which point are contractual death benefit settlement option determined and by
whom - ✔✔at the time of policy is purchased by the owner of the policy
✔✔What is granted to the insured in consideration clause - ✔✔The right to insurance
coverage if premium are paid
✔✔Which part of an insurance contract contains the promise to pay losses covered by
the policy in exchange for the insured's premium and compliance w policy terms -
✔✔Insuring clause
✔✔When the suicide clause is inserted in a life insurance contract, death by suicide is
not covered during the policy's initial - ✔✔2 year period
✔✔All of the following are ownership rights EXCEPT - ✔✔switching the policy from one
insured to another
✔✔Which type of assignment occurs when a person transfer ownership of a life
insurance policy to another person, such as a son Turing 18 - ✔✔Permanent
✔✔Which policy provision permits the policy owner to take specific number of days to
examine the contract and allows for cancellation and full refund if the policy owner
rejects the terms or cost - ✔✔Free look
✔✔The aspect of a policy that allows a policyholder to select the timing of premium
payment is known as - ✔✔Premium mode
AND ANSWERS SCORED A+
✔✔Which of the following is TRUE regarding the owners rights if an irrevocable
beneficiary is designated? - ✔✔The owner retain the right to make a premium payment
✔✔When may a policy owner change a revocable beneficiary? - ✔✔At any time
✔✔In which of the following must a beneficiary change request be filed in writing to the
insurer and is made effective by the insurance company recording the change in its
records? - ✔✔Recording method
✔✔How does the per capita rule apply process from a life insurance policy? - ✔✔The
proceeds are divided equally among living primary beneficiaries
✔✔An insured and the beneficiary are both killed in a fatal accident. Which provision
presumes the insured survive the beneficiary? - ✔✔Common disaster clause
✔✔The feature of a life insurance policy stating that the policy will NOT cover certain
risks is known as - ✔✔Exclusion
✔✔Which of the following provides for the continuance of life insurance coverage on a
juvenile in the event of the death or total disability of the individual responsible for the
payment of the premiums? - ✔✔Pay or clause
✔✔All of the following are non-forfeiture options EXCEPT - ✔✔Cash dividend option
✔✔Standard nonforfeiture benefits include - ✔✔Reduced paid-up insurance
✔✔What is an impairment rider - ✔✔It lists specific conditions in the contract that are
excluded from the contract
✔✔Which one of the following represents an advantage of obtaining a policy loan
versus a withdrawal - ✔✔The loan is not taxed while a withdrawal is taxed for amount
above the contract cost basis
✔✔Which of the following policy loans is a provision in which an amount equal to the
premium due is subtracted from the cash value to pay the premium and prevent a lapse
of the policy? - ✔✔Automatic premium loan
✔✔Why is the accident death benefit referred to as double indemnity - ✔✔It provides
twice the face value in the policy for death due to accident
, ✔✔What is it called when a life insurance policy pays a multiple of the coverage amount
when certain type of accident occur? - ✔✔Multiple indemnity
✔✔Which option enable the insured to purchase additional disability income protection
at specific future dates at the applicable premium rate at the attained age at the time of
future purchase? - ✔✔Guaranteed insurability
✔✔What is the return of premium rider? - ✔✔An increasing amount of term insurance
that always equals the total of premiums paid-up to the current point
✔✔Which type of rider reimburses health and social services expenses incurred in a
convalescent or nursing home facility - ✔✔Long term care rider
✔✔How are the term riders used - ✔✔To purchase insurance on a family member of the
originally insured
✔✔At which point are contractual death benefit settlement option determined and by
whom - ✔✔at the time of policy is purchased by the owner of the policy
✔✔What is granted to the insured in consideration clause - ✔✔The right to insurance
coverage if premium are paid
✔✔Which part of an insurance contract contains the promise to pay losses covered by
the policy in exchange for the insured's premium and compliance w policy terms -
✔✔Insuring clause
✔✔When the suicide clause is inserted in a life insurance contract, death by suicide is
not covered during the policy's initial - ✔✔2 year period
✔✔All of the following are ownership rights EXCEPT - ✔✔switching the policy from one
insured to another
✔✔Which type of assignment occurs when a person transfer ownership of a life
insurance policy to another person, such as a son Turing 18 - ✔✔Permanent
✔✔Which policy provision permits the policy owner to take specific number of days to
examine the contract and allows for cancellation and full refund if the policy owner
rejects the terms or cost - ✔✔Free look
✔✔The aspect of a policy that allows a policyholder to select the timing of premium
payment is known as - ✔✔Premium mode
