LIFE INSURANCE TENNESSEE STATE TEST
Questions and Guide Answers
100% Verified Graded A+
1. An engineering firm that would suffer from the death of a project manager
should purchase a...
Answer: A Key Person Life Policy
2. In Tennessee, the MAXIMUM fine that the Commissioner can impose on a
produce is per violation.
Answer: $1,000
3. Which is true concerning a Variable Universal Life policy?
Answer: Policy owner controls where the investment will go and selects the amount of the premium
payment
4. Company Z has a Cross Purchase Buy-Sell Agreement in place among its
three founding partners, if the agreement is funded with individual life insur-
ance, what would it require?
Answer: Each partner must own a policy on the other partners
, 5. If a producer commits an act of coercion or intimidation, how would the
producer's insurance company be held responsible?
Answer: The insurer approves the act
6. Which life insurance rider typically appears on a Juvenile life insurance
policy?
Answer: Payor Benefit Rider
7. What is considered to be a characteristic of an immediate annuity?
Answer: Benefit payments start within one payment period of purchase
8. Unfair discrimination is BEST described as...
Answer: charging a ditterent rate for someone in the same actuarial class
9. In order for coverage on a non-medical insurance application to take effect
the same day, the producer must collect a signed application and
Answer: The initial premium
10. Which statement regarding a Key Employee Life policy is NOT true?
Answer: The beneficiary is named by the key employee
11. The automatic premium loan provision is designed to...
Answer: Avoid policy lapse
12. A licensed producer can be BEST described as a/an...
Questions and Guide Answers
100% Verified Graded A+
1. An engineering firm that would suffer from the death of a project manager
should purchase a...
Answer: A Key Person Life Policy
2. In Tennessee, the MAXIMUM fine that the Commissioner can impose on a
produce is per violation.
Answer: $1,000
3. Which is true concerning a Variable Universal Life policy?
Answer: Policy owner controls where the investment will go and selects the amount of the premium
payment
4. Company Z has a Cross Purchase Buy-Sell Agreement in place among its
three founding partners, if the agreement is funded with individual life insur-
ance, what would it require?
Answer: Each partner must own a policy on the other partners
, 5. If a producer commits an act of coercion or intimidation, how would the
producer's insurance company be held responsible?
Answer: The insurer approves the act
6. Which life insurance rider typically appears on a Juvenile life insurance
policy?
Answer: Payor Benefit Rider
7. What is considered to be a characteristic of an immediate annuity?
Answer: Benefit payments start within one payment period of purchase
8. Unfair discrimination is BEST described as...
Answer: charging a ditterent rate for someone in the same actuarial class
9. In order for coverage on a non-medical insurance application to take effect
the same day, the producer must collect a signed application and
Answer: The initial premium
10. Which statement regarding a Key Employee Life policy is NOT true?
Answer: The beneficiary is named by the key employee
11. The automatic premium loan provision is designed to...
Answer: Avoid policy lapse
12. A licensed producer can be BEST described as a/an...
