PA LIFE INSURANCE FINAL PAPER 2026
EXAMINATION QUESTIONS AND ANSWERS
GRADED A+
◉An accelerated death benefit in PA must be at least what
percentage of the total death benefit.. Answer: 25%
◉A producer's license CANNOT be revoked without Answer: a
hearing given to the producer
◉Mike has inherited his father's traditional IRA. As a beneficiary, he
will pay taxes on any money withdrawn Answer: income
◉Signatures for an insurance application MUST be obtained by the
producer from all of the following sources except.. Answer:
Beneficiary
◉What is the purpose for having an accelerated death benefit on a
life insurance policy.. Answer: It allows for cash advances to be paid
against the death if the insured becomes terminally ill
◉Which premium payment frequencies is not typically available to
policyholders.. Answer: bi-weekly
, ◉An example of risk sharing would be.. Answer: Doctors pooling
their money to cover malpractice exposures is an example of risk
sharing
◉A licensee may only sell, solicit, & negotiate insurance contracts on
behalf of the... Answer: appointing insurer
◉Who is responsible for assembling the policy form for insureds..
Answer: insurance carriers
◉When soliciting insurance, a producer CANNOT.. Answer:
emphasize guaranty association benefits
◉Andy annuitant dies before the annuity start date.. Answer:
premiums paid plus interest earned is returned to the beneficiary
◉Describe a conditional insurance contract.. Answer: a contract that
requires certain conditions or acts by the insured individual
◉All of the following are unfair claims practices.. Answer: - refusing
to pay claims without reasonable investigation
- failing to promptly provide reasonable explanation of any certain
denials
EXAMINATION QUESTIONS AND ANSWERS
GRADED A+
◉An accelerated death benefit in PA must be at least what
percentage of the total death benefit.. Answer: 25%
◉A producer's license CANNOT be revoked without Answer: a
hearing given to the producer
◉Mike has inherited his father's traditional IRA. As a beneficiary, he
will pay taxes on any money withdrawn Answer: income
◉Signatures for an insurance application MUST be obtained by the
producer from all of the following sources except.. Answer:
Beneficiary
◉What is the purpose for having an accelerated death benefit on a
life insurance policy.. Answer: It allows for cash advances to be paid
against the death if the insured becomes terminally ill
◉Which premium payment frequencies is not typically available to
policyholders.. Answer: bi-weekly
, ◉An example of risk sharing would be.. Answer: Doctors pooling
their money to cover malpractice exposures is an example of risk
sharing
◉A licensee may only sell, solicit, & negotiate insurance contracts on
behalf of the... Answer: appointing insurer
◉Who is responsible for assembling the policy form for insureds..
Answer: insurance carriers
◉When soliciting insurance, a producer CANNOT.. Answer:
emphasize guaranty association benefits
◉Andy annuitant dies before the annuity start date.. Answer:
premiums paid plus interest earned is returned to the beneficiary
◉Describe a conditional insurance contract.. Answer: a contract that
requires certain conditions or acts by the insured individual
◉All of the following are unfair claims practices.. Answer: - refusing
to pay claims without reasonable investigation
- failing to promptly provide reasonable explanation of any certain
denials
