TATOO LICENSE TEST NYC EXAM LATEST REAL EXAM
100 QUESTIONS AND CORRECT ANSWERS|AGRADE
If found material for underwriting, a misrepresentation
a)
Does not affect either of the parties.
b)
Must have been in writing to affect a contract.
c)
Can void a contract.
d)
May be withdrawn. - ANSWER: D
Every long-term care insurer in California must submit to the Commissioner a list of
all agents or other insurer representatives authorized to solicit individual consumers
for the sale of long-term care insurance. These submitted agent lists must be
updated at least
a)
Monthly
b)
Quarterly
c)
Annually
d)
Semiannually - ANSWER: A
Which nonforfeiture option has the highest amount of insurance protection?
a)
Conversion
b)
Decreasing Term
c)
Reduced Paid-up
d)
Extended Term - ANSWER: C
Acting as an agent for a nonadmitted insurer (unless a surplus line broker) is
considered a/an
a)
Class A violation.
b)
Unfair trade practice.
,c)
Misdemeanor.
d)
Felony. - ANSWER: D
What is the term for a sales campaign conducted through the mail?
a)
Direct-mail
b)
Mass marketing
c)
Advertising
d)
Direct-response - ANSWER: A
Which of the following is a generic consumer publication that explains life insurance
in general terms in order to assist the applicant in the decision-making process?
a)
Policy Summary
b)
Illustrations
c)
Buyer's Guide
d)
Insurance Index - ANSWER: A
The policyowner wants to make sure that upon his death, the life policy will pay a
portion of the proceeds annually to his spouse, but that the principal will be paid to
their children when they reach a certain age. Which settlement option should the
policyowner choose?
a)
Fixed amount option
b)
Interest only option
c)
Life income with period certain
d)
Joint and survivor - ANSWER: A
Which of the following individuals must have insurable interest in the insured?
a)
Producer
b)
, Policyowner
c)
Beneficiary
d)
Actuary - ANSWER: A
An intentional or unintentional concealment entitles the affected party to which of
the following?
a)
Estoppel.
b)
Waiver of concealed conditions.
c)
Subrogation of a contract.
d)
Rescission of a contract. - ANSWER: C
All of the following are true regarding the guaranteed insurability rider EXCEPT
a)
The insured may purchase additional coverage at the attained age.
b)
The insured may purchase additional insurance up to the amount specified in the
base policy.
c)
It allows the insured to purchase additional amounts of insurance without proving
insurability only at specified dates or events.
d)
This rider is available to all insureds with no additional premium. - ANSWER: C
Which of the following is true regarding the insurance amount in a credit life policy?
a)
Creditor may insure the debtor for an unlimited amount of coverage.
b)
Allowable amount of coverage is determined by the State Insurance Commissioner.
c)
The amount of coverage can be greater than the amount owed.
d)
Creditor can only insure the debtor for the amount owed. - ANSWER: B
All of the following are examples of risk retention EXCEPT
a)
Self-insurance.
b)
100 QUESTIONS AND CORRECT ANSWERS|AGRADE
If found material for underwriting, a misrepresentation
a)
Does not affect either of the parties.
b)
Must have been in writing to affect a contract.
c)
Can void a contract.
d)
May be withdrawn. - ANSWER: D
Every long-term care insurer in California must submit to the Commissioner a list of
all agents or other insurer representatives authorized to solicit individual consumers
for the sale of long-term care insurance. These submitted agent lists must be
updated at least
a)
Monthly
b)
Quarterly
c)
Annually
d)
Semiannually - ANSWER: A
Which nonforfeiture option has the highest amount of insurance protection?
a)
Conversion
b)
Decreasing Term
c)
Reduced Paid-up
d)
Extended Term - ANSWER: C
Acting as an agent for a nonadmitted insurer (unless a surplus line broker) is
considered a/an
a)
Class A violation.
b)
Unfair trade practice.
,c)
Misdemeanor.
d)
Felony. - ANSWER: D
What is the term for a sales campaign conducted through the mail?
a)
Direct-mail
b)
Mass marketing
c)
Advertising
d)
Direct-response - ANSWER: A
Which of the following is a generic consumer publication that explains life insurance
in general terms in order to assist the applicant in the decision-making process?
a)
Policy Summary
b)
Illustrations
c)
Buyer's Guide
d)
Insurance Index - ANSWER: A
The policyowner wants to make sure that upon his death, the life policy will pay a
portion of the proceeds annually to his spouse, but that the principal will be paid to
their children when they reach a certain age. Which settlement option should the
policyowner choose?
a)
Fixed amount option
b)
Interest only option
c)
Life income with period certain
d)
Joint and survivor - ANSWER: A
Which of the following individuals must have insurable interest in the insured?
a)
Producer
b)
, Policyowner
c)
Beneficiary
d)
Actuary - ANSWER: A
An intentional or unintentional concealment entitles the affected party to which of
the following?
a)
Estoppel.
b)
Waiver of concealed conditions.
c)
Subrogation of a contract.
d)
Rescission of a contract. - ANSWER: C
All of the following are true regarding the guaranteed insurability rider EXCEPT
a)
The insured may purchase additional coverage at the attained age.
b)
The insured may purchase additional insurance up to the amount specified in the
base policy.
c)
It allows the insured to purchase additional amounts of insurance without proving
insurability only at specified dates or events.
d)
This rider is available to all insureds with no additional premium. - ANSWER: C
Which of the following is true regarding the insurance amount in a credit life policy?
a)
Creditor may insure the debtor for an unlimited amount of coverage.
b)
Allowable amount of coverage is determined by the State Insurance Commissioner.
c)
The amount of coverage can be greater than the amount owed.
d)
Creditor can only insure the debtor for the amount owed. - ANSWER: B
All of the following are examples of risk retention EXCEPT
a)
Self-insurance.
b)
