PA LIFE INSURANCE EXAM STUDY SHEET
2026 COMPLETE QUESTIONS AND
ANSWERS
◉Ron has a life insurance policy with a face value of $100,000 and a
cost of living rider. If the consumer price index has gone up 4%, how
much may Ron increase the face value of the policy?
$400
$800
$2,000
$4,000 Answer: $4,000
◉a life insurance policy owner was injured in an automobile
accident which resulted in a total and permanent disability. which
rider would pay a monthly amount because of his disability Answer:
disability income rider
, ◉according to life insurance contract law, insurable interest exists
Answer: at the time of application
◉Insurance represents the process of risk Answer: transference
◉Under a non-qualified annuity, interest is taxed after the Answer:
exclusion ratio has been calculated
◉an insurance company only pay commissions to Answer:
unlicensed producer
◉when calculating the amount of life insurance needed for an
income earner, what has to be determined when using the needs
approach Answer: The family's financial objectives if the income
earner were to die or become disabled
◉The coverage, conditions, and limitations in the master policy of a
group contract can be found in which document?
Certificate of Authority
Consumer report
Coverage document
Certificate of coverage and benefits Answer: Certificate of coverage
and benefits
2026 COMPLETE QUESTIONS AND
ANSWERS
◉Ron has a life insurance policy with a face value of $100,000 and a
cost of living rider. If the consumer price index has gone up 4%, how
much may Ron increase the face value of the policy?
$400
$800
$2,000
$4,000 Answer: $4,000
◉a life insurance policy owner was injured in an automobile
accident which resulted in a total and permanent disability. which
rider would pay a monthly amount because of his disability Answer:
disability income rider
, ◉according to life insurance contract law, insurable interest exists
Answer: at the time of application
◉Insurance represents the process of risk Answer: transference
◉Under a non-qualified annuity, interest is taxed after the Answer:
exclusion ratio has been calculated
◉an insurance company only pay commissions to Answer:
unlicensed producer
◉when calculating the amount of life insurance needed for an
income earner, what has to be determined when using the needs
approach Answer: The family's financial objectives if the income
earner were to die or become disabled
◉The coverage, conditions, and limitations in the master policy of a
group contract can be found in which document?
Certificate of Authority
Consumer report
Coverage document
Certificate of coverage and benefits Answer: Certificate of coverage
and benefits
