PA LIFE INSURANCE EXAM SCRIPT 2026
FULL QUESTIONS AND SOLUTIONS
◉All of the following are considered appropriate uses of life
insurance.. Answer: - attracting quality employees by offering a
group life plan
- protecting the business by covering key employees with life
insurance
- funding an entity buy sell agreement
◉The do not call list offers exemption from all except Answer: life
insurance
◉Ken is a producer who has consumer info reports under false
pretenses under the fair credit reporting act, what is the max
penalty.. Answer: $5000 & 1 year in jail
◉Which type of annuity guarantees a stated number of income
payments whether or not the annuitant is still alive to receive it
Answer: life annuity certain
◉In what part of the policy are the policy benefits found Answer:
conditions
, ◉Commissioner is responsible for all of the following.. Answer: -
issue cease & desist orders
- conduct hearings
- regulate premium rates
◉Maria would like an annuity that provides a guaranteed
accumulation or payout. The type of annuity she is seeking is called..
Answer: annuity certain
◉Which type of rider will waive the premium on a child's life
insurance policy if the parent paying the premium dies? Answer:
guaranteed insurability
◉Pat owns a 20 pay life policy with a paid dividend option. Which of
the following statements is true? Answer: the policy may be paid up
early by using policy dividends
◉A renewable term life insurance policy can be renewed Answer:
anytime the policy owners request
◉What would a be an expense factor in an insurance program
Answer: mortality costs
FULL QUESTIONS AND SOLUTIONS
◉All of the following are considered appropriate uses of life
insurance.. Answer: - attracting quality employees by offering a
group life plan
- protecting the business by covering key employees with life
insurance
- funding an entity buy sell agreement
◉The do not call list offers exemption from all except Answer: life
insurance
◉Ken is a producer who has consumer info reports under false
pretenses under the fair credit reporting act, what is the max
penalty.. Answer: $5000 & 1 year in jail
◉Which type of annuity guarantees a stated number of income
payments whether or not the annuitant is still alive to receive it
Answer: life annuity certain
◉In what part of the policy are the policy benefits found Answer:
conditions
, ◉Commissioner is responsible for all of the following.. Answer: -
issue cease & desist orders
- conduct hearings
- regulate premium rates
◉Maria would like an annuity that provides a guaranteed
accumulation or payout. The type of annuity she is seeking is called..
Answer: annuity certain
◉Which type of rider will waive the premium on a child's life
insurance policy if the parent paying the premium dies? Answer:
guaranteed insurability
◉Pat owns a 20 pay life policy with a paid dividend option. Which of
the following statements is true? Answer: the policy may be paid up
early by using policy dividends
◉A renewable term life insurance policy can be renewed Answer:
anytime the policy owners request
◉What would a be an expense factor in an insurance program
Answer: mortality costs
