TENNESSEE LIFE INSURANCE
ACTUAL EXAM QUESTIONS AND
COMPLETE STUDY GUIDE 2026
▶ The life insurance policy clause that prevents an insurance company
from denying payment of a death claim after a specified period of time is
known as the? Answer: incontestability clause
▶ The insured undder a $100,000 life insurance policy with a triple
indemnity rider for accidental death was killed in a car accident. It was
determined that the accident was his fault. The triple indemnity rider in the
policy specifies that the death must not be contributed to by the insured in
any manner. In this case, what will the policy beneficiary receive??
Answer: $100000
▶ An insured under a life insurance policy has been diagnosed with a
terminal illness and has 6 months to live. The insured knows that his
financial state will worsen even more with the upcoming medical expenses.
What option could the insured utilize?? Answer: viatical settlement
▶ Under the Fair Credit Reporting Act, if the consumer challenges the
correctness of the information contained in his/her report, the reporting
agency must? Answer: respond to the consumers complaint
▶ An insured receives an annual life insurance dividend check. What term
best describes this arrangement?? Answer: cash option
▶ A man decided to purchase a $100,000 Annually Renewable Term Life
policy to provide additional protection until his children finished college. He
discovered that his policy? Answer: required a premium increase each
renewal
▶ Which of the following is INCORRECT regarding a $100,000 20-year
level term policy?? Answer: At the end of 20 years, the policy's cash value
will equal $100,000.
, ▶ Which of the following information will be stated in the consideration
clause of a life insurance policy?? Answer: amount of premium payment
▶ SIMPLE Plans require all of the following EXCEPT? Answer: at least
1000 employees
▶ Which of the following statements about the reinstatement provision is
true?? Answer: It requires the policyowner to pay all overdue premiums
with interest before the policy is reinstated.
▶ An insurer wants to begin underwriting procedures for an applicant. What
source will it consult for the majority of its underwriting information??
Answer: application
▶ If an insured receives accelerated death benefits, what is the least
amount of the original death benefit that the beneficiary would receive after
the insured's death?? Answer: 0%
▶ Which two terms are associated directly with the premium?? Answer:
level or flexible
▶ The policyowner of a Universal Life policy may skip paying the premium
and the policy will not lapse as long as? Answer: The policy contains
sufficient cash value to cover the cost of insurance.
▶ A producer is helping a married couple determine the financial needs of
their children in the event one or both should die prematurely. This is a
personal use of life insurance known as? Answer: survivor protection
▶ Under which of the following circumstances would an insurer pay
accelerated benefits?? Answer: An insured is diagnosed with cancer and
needs help paying for her medical treatment.
▶ An insurer devises an intimidation strategy in order to corner a large
portion of the insurance market. Which of the following best describes this
practice?? Answer: illegal
ACTUAL EXAM QUESTIONS AND
COMPLETE STUDY GUIDE 2026
▶ The life insurance policy clause that prevents an insurance company
from denying payment of a death claim after a specified period of time is
known as the? Answer: incontestability clause
▶ The insured undder a $100,000 life insurance policy with a triple
indemnity rider for accidental death was killed in a car accident. It was
determined that the accident was his fault. The triple indemnity rider in the
policy specifies that the death must not be contributed to by the insured in
any manner. In this case, what will the policy beneficiary receive??
Answer: $100000
▶ An insured under a life insurance policy has been diagnosed with a
terminal illness and has 6 months to live. The insured knows that his
financial state will worsen even more with the upcoming medical expenses.
What option could the insured utilize?? Answer: viatical settlement
▶ Under the Fair Credit Reporting Act, if the consumer challenges the
correctness of the information contained in his/her report, the reporting
agency must? Answer: respond to the consumers complaint
▶ An insured receives an annual life insurance dividend check. What term
best describes this arrangement?? Answer: cash option
▶ A man decided to purchase a $100,000 Annually Renewable Term Life
policy to provide additional protection until his children finished college. He
discovered that his policy? Answer: required a premium increase each
renewal
▶ Which of the following is INCORRECT regarding a $100,000 20-year
level term policy?? Answer: At the end of 20 years, the policy's cash value
will equal $100,000.
, ▶ Which of the following information will be stated in the consideration
clause of a life insurance policy?? Answer: amount of premium payment
▶ SIMPLE Plans require all of the following EXCEPT? Answer: at least
1000 employees
▶ Which of the following statements about the reinstatement provision is
true?? Answer: It requires the policyowner to pay all overdue premiums
with interest before the policy is reinstated.
▶ An insurer wants to begin underwriting procedures for an applicant. What
source will it consult for the majority of its underwriting information??
Answer: application
▶ If an insured receives accelerated death benefits, what is the least
amount of the original death benefit that the beneficiary would receive after
the insured's death?? Answer: 0%
▶ Which two terms are associated directly with the premium?? Answer:
level or flexible
▶ The policyowner of a Universal Life policy may skip paying the premium
and the policy will not lapse as long as? Answer: The policy contains
sufficient cash value to cover the cost of insurance.
▶ A producer is helping a married couple determine the financial needs of
their children in the event one or both should die prematurely. This is a
personal use of life insurance known as? Answer: survivor protection
▶ Under which of the following circumstances would an insurer pay
accelerated benefits?? Answer: An insured is diagnosed with cancer and
needs help paying for her medical treatment.
▶ An insurer devises an intimidation strategy in order to corner a large
portion of the insurance market. Which of the following best describes this
practice?? Answer: illegal
