Kansas Life & Health Insurance Final Exam/
152 Q&A/ 2024-2025.
When can a policy owner change a revocable beneficiary? - Answer: Anytime
J would like to maintain the right to change beneficiaries. Which beneficiary
designation should be used? - Answer: Revocable
M purchased an Accidental Death and Dismemberment (AD&D) policy and named
his son as beneficiary. M has the right to change the beneficiary designation at any
time. What type of beneficiary is his son? - Answer: Revocable Beneficiary
revocable beneficiary - Answer: the policy owner may change the beneficiary at
any time without notifying or getting permission from the beneficiary.
Page 1 of 22
,K is the insured and P is the sole beneficiary on a life insurance policy. Both are
involved in a fatal accident where K dies before P. Under the Common Disaster
provision, which of these statements is true? - Answer: Proceeds will be paid to
K's estate if P dies within a specified time
How would a contingent beneficiary receive the policy proceeds in an Accidental
Death and Dismemberment (AD&D) policy? - Answer: If the primary beneficiary
dies before the insured
Which statement is true regarding a minor beneficiary - Answer: Normally, a
guardian is required to be appointed in the Beneficiary clause of the contract
A life insurance application must be signed by all of these EXCEPT - Answer:
Beneficiaries are not required to sign an insurance application
K applies for a life insurance policy on herself and submits the initial premium
with the application. She is given a receipt by the agent stating that coverage
begins immediately if the application is approved. What kind of receipt was used?
- Answer: A conditional receipt indicates that certain conditions must be met in
order for the insurance coverage to go into effect.
P is a producer who notices 5 questions on a life application were not answered.
What actions should P take? - Answer: Schedule another appointment with the
applicant to complete the unanswered questions
Page 2 of 22
, M completes an application for life insurance but does not pay the initial
premium. All of these actions must occur before M's policy goes into effect
EXCEPT - Answer: Free-look period has expired
An applicant's medical information received from the Medical Information Bureau
(MIB) may be furnished to the - Answer: Applicant's physician
On August 6, D submitted an application for a $50,000 Life Insurance policy and
did not pay the initial premium. On August 18, D went to his doctor complaining
of chest pains and some tests were given by the doctor. The life policy was
delivered by the producer on August 20 and D explains what had recently taken
place with the doctor. What action should the producer then take? - Answer:
Collect initial premium along with a signed health statement
What is being delivered during a policy delivery? - Answer: Insurance contract to
the proposed insured
Before a life insurance policy is issued, which of these components of the contract
is required? - Answer: Applicant's signature on application
Which of the following is an important underwriting principle of group life
insurance? - Answer: Everyone must be covered in the group
Page 3 of 22
152 Q&A/ 2024-2025.
When can a policy owner change a revocable beneficiary? - Answer: Anytime
J would like to maintain the right to change beneficiaries. Which beneficiary
designation should be used? - Answer: Revocable
M purchased an Accidental Death and Dismemberment (AD&D) policy and named
his son as beneficiary. M has the right to change the beneficiary designation at any
time. What type of beneficiary is his son? - Answer: Revocable Beneficiary
revocable beneficiary - Answer: the policy owner may change the beneficiary at
any time without notifying or getting permission from the beneficiary.
Page 1 of 22
,K is the insured and P is the sole beneficiary on a life insurance policy. Both are
involved in a fatal accident where K dies before P. Under the Common Disaster
provision, which of these statements is true? - Answer: Proceeds will be paid to
K's estate if P dies within a specified time
How would a contingent beneficiary receive the policy proceeds in an Accidental
Death and Dismemberment (AD&D) policy? - Answer: If the primary beneficiary
dies before the insured
Which statement is true regarding a minor beneficiary - Answer: Normally, a
guardian is required to be appointed in the Beneficiary clause of the contract
A life insurance application must be signed by all of these EXCEPT - Answer:
Beneficiaries are not required to sign an insurance application
K applies for a life insurance policy on herself and submits the initial premium
with the application. She is given a receipt by the agent stating that coverage
begins immediately if the application is approved. What kind of receipt was used?
- Answer: A conditional receipt indicates that certain conditions must be met in
order for the insurance coverage to go into effect.
P is a producer who notices 5 questions on a life application were not answered.
What actions should P take? - Answer: Schedule another appointment with the
applicant to complete the unanswered questions
Page 2 of 22
, M completes an application for life insurance but does not pay the initial
premium. All of these actions must occur before M's policy goes into effect
EXCEPT - Answer: Free-look period has expired
An applicant's medical information received from the Medical Information Bureau
(MIB) may be furnished to the - Answer: Applicant's physician
On August 6, D submitted an application for a $50,000 Life Insurance policy and
did not pay the initial premium. On August 18, D went to his doctor complaining
of chest pains and some tests were given by the doctor. The life policy was
delivered by the producer on August 20 and D explains what had recently taken
place with the doctor. What action should the producer then take? - Answer:
Collect initial premium along with a signed health statement
What is being delivered during a policy delivery? - Answer: Insurance contract to
the proposed insured
Before a life insurance policy is issued, which of these components of the contract
is required? - Answer: Applicant's signature on application
Which of the following is an important underwriting principle of group life
insurance? - Answer: Everyone must be covered in the group
Page 3 of 22
