Page 1 of 127
TN Health and Life Insurance Exam ACTUAL EXAM
ACTUAL EXAM–ALL QUESTIONS AND CORRECT
ANSWERS LATEST UPDATE THIS YEAR
TN Health and Life Insurance Exam –
-EXAM COVERAGE
Tennessee Life & Health Insurance Exam
State Insurance Regulations
Tennessee Department of Commerce & Insurance rules
Licensing requirements, appointments, and continuing education
Agent responsibilities, fiduciary duties, and ethical conduct
Unfair trade practices and disciplinary actions
Life Insurance
Policy types: term, whole, universal, variable life
Policy provisions: grace period, reinstatement, incontestability
Riders: waiver of premium, accidental death, accelerated benefits
Beneficiaries, ownership, and assignment
Underwriting basics and risk classifications
Health Insurance
Policy types: major medical, HMOs, PPOs, EPOs, short-term plans
Disability income insurance (short-term & long-term)
Medicare, Medicaid, and state-mandated coverage basics
Policy provisions: renewability, exclusions, waiting periods
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, Page 2 of 127
Group vs. individual health plans
Annuities & Retirement Planning
Fixed, variable, indexed, and immediate/deferred annuities
Taxation rules and retirement planning basics
Federal Regulations & Laws
HIPAA privacy and portability rules
ACA (Affordable Care Act) essentials
ERISA basics and COBRA continuation coverage
Ethics & Consumer Protection
Suitability standards
Fraud awareness and reporting
Confidentiality and recordkeeping
QUESTION: Which of the following health insurance policy provisions specifies the health care
services a policy will provide?
- insuring clause
- usual, customary, and reasonable clause
- consideration clause
- benefit clause - ANSWER-INSURING CLAUSE
- The insuring clause identifies the specific type of health care services that are covered by that
policy
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QUESTION: A Disability Income policy that only the policyowner can terminate and which the
rates will never go up is considered to be
- optionally renewable
- noncancellable
- cancellable
- guaranteed renewable - ANSWER-NONCANCELLABLE
- A disability income policy that only the policyowner can terminate and on which the rates will
never increase is a noncancellable policy
QUESTION: A producer may apply for one or more of the following licenses:
- life insurance
- personal lines property
- accident and health or sickness insurance
- all of the above - ANSWER-ALL OF THE ABOVE
QUESTION: Which of the following reimburses its insureds for covered medical expenses?
- health maintenance organizations
- preferred provider organizations
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, Page 4 of 127
- commercial insurers
- service providers - ANSWER-COMMERCIAL INSURERS
- Commercial insurance companies function on the reimbursement approach. Policyowners
obtain medical treatment from whatever source they feel is most appropriate and submit their
charges to their insurer for reimbursement
QUESTION: Long Term Care policies will usually pay for eligible benefits using which of the
following methods?
- Delayed
- fee for service
- expense incurred
- respite - ANSWER-EXPENSE INCURRED
- Most long term care policies pay on a reimbursement (or expense-incurred) basis, up to policy
limits
QUESTION: Which of the following is NOT a limited benefit plan?
- Dental policy
- life insurance policy
4
TN Health and Life Insurance Exam ACTUAL EXAM
ACTUAL EXAM–ALL QUESTIONS AND CORRECT
ANSWERS LATEST UPDATE THIS YEAR
TN Health and Life Insurance Exam –
-EXAM COVERAGE
Tennessee Life & Health Insurance Exam
State Insurance Regulations
Tennessee Department of Commerce & Insurance rules
Licensing requirements, appointments, and continuing education
Agent responsibilities, fiduciary duties, and ethical conduct
Unfair trade practices and disciplinary actions
Life Insurance
Policy types: term, whole, universal, variable life
Policy provisions: grace period, reinstatement, incontestability
Riders: waiver of premium, accidental death, accelerated benefits
Beneficiaries, ownership, and assignment
Underwriting basics and risk classifications
Health Insurance
Policy types: major medical, HMOs, PPOs, EPOs, short-term plans
Disability income insurance (short-term & long-term)
Medicare, Medicaid, and state-mandated coverage basics
Policy provisions: renewability, exclusions, waiting periods
1
, Page 2 of 127
Group vs. individual health plans
Annuities & Retirement Planning
Fixed, variable, indexed, and immediate/deferred annuities
Taxation rules and retirement planning basics
Federal Regulations & Laws
HIPAA privacy and portability rules
ACA (Affordable Care Act) essentials
ERISA basics and COBRA continuation coverage
Ethics & Consumer Protection
Suitability standards
Fraud awareness and reporting
Confidentiality and recordkeeping
QUESTION: Which of the following health insurance policy provisions specifies the health care
services a policy will provide?
- insuring clause
- usual, customary, and reasonable clause
- consideration clause
- benefit clause - ANSWER-INSURING CLAUSE
- The insuring clause identifies the specific type of health care services that are covered by that
policy
2
, Page 3 of 127
QUESTION: A Disability Income policy that only the policyowner can terminate and which the
rates will never go up is considered to be
- optionally renewable
- noncancellable
- cancellable
- guaranteed renewable - ANSWER-NONCANCELLABLE
- A disability income policy that only the policyowner can terminate and on which the rates will
never increase is a noncancellable policy
QUESTION: A producer may apply for one or more of the following licenses:
- life insurance
- personal lines property
- accident and health or sickness insurance
- all of the above - ANSWER-ALL OF THE ABOVE
QUESTION: Which of the following reimburses its insureds for covered medical expenses?
- health maintenance organizations
- preferred provider organizations
3
, Page 4 of 127
- commercial insurers
- service providers - ANSWER-COMMERCIAL INSURERS
- Commercial insurance companies function on the reimbursement approach. Policyowners
obtain medical treatment from whatever source they feel is most appropriate and submit their
charges to their insurer for reimbursement
QUESTION: Long Term Care policies will usually pay for eligible benefits using which of the
following methods?
- Delayed
- fee for service
- expense incurred
- respite - ANSWER-EXPENSE INCURRED
- Most long term care policies pay on a reimbursement (or expense-incurred) basis, up to policy
limits
QUESTION: Which of the following is NOT a limited benefit plan?
- Dental policy
- life insurance policy
4
