Connecticut (Ct) Life and Health Final Exam
Questions with verified correct Answers
latest update 2025
All of these are duties that a producer may be required to perform when
delivering an insurance policy expect
Acquire a statement of good health signature
Gather the initial premium
Review policy with applicant
Leave a conditional receipt with client --- correct answer ---Leave a
conditional receipt with client - a conditional receipt is normally given prior
to a policy being issued
According to the affordable care act, insurers can no longer deny health
coverage due to pre-existing conditions unless that plan is a(n) --- correct
answer ---Grandfathered plan - under the affordable care act, health
insurers can no longer charge more or deny coverage to you or your child
because of a pre-existing health condition unless it is grandfathered health
plan
Which of the following types of insurers limits the exposures it writes to
those of its owners? --- correct answer ---Captive insurer - an insurer that
confines largely limits the exposures it writes to those of its owners is
called a captive insurer
,Which of the following could be a future use of cash value that builds in a
recently-purchased whole life insurance policy?
Convert the cash value to a paid-up term policy
Gives policyowner ability to borrow against funds within two years
Increases policy's face amount
Provide supplemental income in 35 years --- correct answer ---Provide
supplemental income in 35 years - whole kife policies typically begin to
accrue cash value during the 3rd year after issue. The cash value that
accumulates can be used to supplement income during retirement years
An accident and health insurance policy's premium requirements are set
forth in which of the following provisions? --- correct answer ---
Consideration clause - sets forth an accident and health insurance policy's
premium requirements
An insured has $25,000 whole life insurance policy with $6000 cash value
available. Under the extended term nonforfeiture option, what is the
amount of insurance available to the insured? --- correct answer ---$25,000
- the extended term option uses the policy's cash value to purchase a level
term insurance policy in an amount equal to the original policy's face value,
for as long a period as the cash value will purchase.
, A life settlement ______ negotiates a life settlement between a policyowner
and a life settlement provider. --- correct answer ---Broker
self-maintenance expenses do not influence an individual's need for life
insurance, true or false? --- correct answer ---True
Before soliciting insurance applications for an insurer, a producer must
secure a(n) --- correct answer ---Appointment - a producer must secure an
appointment with an insured before soliciting insurance applications for
that insurer
Which of the following best describes a "partial disability"?
Becoming deaf in one ear
Unable to perform all job duties due to a short-term disability
Unable to perform one ore more job duties
When a disability recurs from a previous illness accident --- correct answer
---Unable to perform one or more job duties - partial disability is normally
defined as the inability to perform one more duties of a job
A producer recently replaced an existing Medicare supplement policy with a
new policy. The producers compensation for the new policy ____ exceed the
renewal commission of the original policy. --- correct answer ---CANNOT -
compensation for a new Medicare supplement policy that replaces an
existing policy cannot exceed the renewal commission of the original policy
Questions with verified correct Answers
latest update 2025
All of these are duties that a producer may be required to perform when
delivering an insurance policy expect
Acquire a statement of good health signature
Gather the initial premium
Review policy with applicant
Leave a conditional receipt with client --- correct answer ---Leave a
conditional receipt with client - a conditional receipt is normally given prior
to a policy being issued
According to the affordable care act, insurers can no longer deny health
coverage due to pre-existing conditions unless that plan is a(n) --- correct
answer ---Grandfathered plan - under the affordable care act, health
insurers can no longer charge more or deny coverage to you or your child
because of a pre-existing health condition unless it is grandfathered health
plan
Which of the following types of insurers limits the exposures it writes to
those of its owners? --- correct answer ---Captive insurer - an insurer that
confines largely limits the exposures it writes to those of its owners is
called a captive insurer
,Which of the following could be a future use of cash value that builds in a
recently-purchased whole life insurance policy?
Convert the cash value to a paid-up term policy
Gives policyowner ability to borrow against funds within two years
Increases policy's face amount
Provide supplemental income in 35 years --- correct answer ---Provide
supplemental income in 35 years - whole kife policies typically begin to
accrue cash value during the 3rd year after issue. The cash value that
accumulates can be used to supplement income during retirement years
An accident and health insurance policy's premium requirements are set
forth in which of the following provisions? --- correct answer ---
Consideration clause - sets forth an accident and health insurance policy's
premium requirements
An insured has $25,000 whole life insurance policy with $6000 cash value
available. Under the extended term nonforfeiture option, what is the
amount of insurance available to the insured? --- correct answer ---$25,000
- the extended term option uses the policy's cash value to purchase a level
term insurance policy in an amount equal to the original policy's face value,
for as long a period as the cash value will purchase.
, A life settlement ______ negotiates a life settlement between a policyowner
and a life settlement provider. --- correct answer ---Broker
self-maintenance expenses do not influence an individual's need for life
insurance, true or false? --- correct answer ---True
Before soliciting insurance applications for an insurer, a producer must
secure a(n) --- correct answer ---Appointment - a producer must secure an
appointment with an insured before soliciting insurance applications for
that insurer
Which of the following best describes a "partial disability"?
Becoming deaf in one ear
Unable to perform all job duties due to a short-term disability
Unable to perform one ore more job duties
When a disability recurs from a previous illness accident --- correct answer
---Unable to perform one or more job duties - partial disability is normally
defined as the inability to perform one more duties of a job
A producer recently replaced an existing Medicare supplement policy with a
new policy. The producers compensation for the new policy ____ exceed the
renewal commission of the original policy. --- correct answer ---CANNOT -
compensation for a new Medicare supplement policy that replaces an
existing policy cannot exceed the renewal commission of the original policy
