LIFE AND DISABILITY PRODUCER COMBO
PRACTICE (ACTUAL 2025) QUESTIONS WITH
VERIFIED CERTIFIED ANSWERS
The premium payment mode that results in the highest overall
cost would be
Monthly
A policyowner is prohibited from making any changes to the
policy without the beneficiary's written consent under which
beneficiary designation?
Irrevocable beneficiary
A beneficiary change can occur
Normally at any time during the policy term
Which of the following enables a life policy to be replaced
with another life policy and results in the postponement of tax
consequences?
Section 1035 Exchange
,What does a life insurance policy guarantee to the stated
beneficiary upon death of the insured?
Specified amount of money
A tax free Section 1035 Exchange of a life insurance policy to
a different policy is permitted if it occurs
From insurer to insurer and no cash is received by the
policyowner
All of these are settlement options life insurance policies
EXCEPT
Extended term
Signatures for an insurance application MUST be obtained by
the producer from all of the following sources EXCEPT
The beneficiary
What would happen if a life insurance applicant is given a
conditional receipt from an insurance agent and then dies the
next day?
,Claim will be paid if the application is approved
Which of the following signatures is not required on an
individual insurance application?
Insurer
An attending physician's statement would be appropriate for
which life insurance purpose?
At the request of the insurer to assist in the underwriting
decision
All of these are considered key factors in underwriting life
insurance EXCEPT
Marital status
An insurance applicant with a below-average likelihood of
loss is typically considered to be a
Preferred risk
, Preferred risk policies with reduced premiums are issued by
insurance companies because the insured has
Better than average mortality or morbidity experience
We have an expert-written solution to this problem!
What is the purpose of the Medical Information Bureau
(MIB)?
To help underwriters evaluate risk
An insurance company needs to obtain personal information
from a third party concerning an applicant. Which law do all
insurers and their producers need to comply with?
Fair Credit Reporting Act
In which of the following relationships would there NOT be
an insurable interest?
Business owner to business customer
An insurer has a right to screen applicants for HIV in which of
the following ways?
PRACTICE (ACTUAL 2025) QUESTIONS WITH
VERIFIED CERTIFIED ANSWERS
The premium payment mode that results in the highest overall
cost would be
Monthly
A policyowner is prohibited from making any changes to the
policy without the beneficiary's written consent under which
beneficiary designation?
Irrevocable beneficiary
A beneficiary change can occur
Normally at any time during the policy term
Which of the following enables a life policy to be replaced
with another life policy and results in the postponement of tax
consequences?
Section 1035 Exchange
,What does a life insurance policy guarantee to the stated
beneficiary upon death of the insured?
Specified amount of money
A tax free Section 1035 Exchange of a life insurance policy to
a different policy is permitted if it occurs
From insurer to insurer and no cash is received by the
policyowner
All of these are settlement options life insurance policies
EXCEPT
Extended term
Signatures for an insurance application MUST be obtained by
the producer from all of the following sources EXCEPT
The beneficiary
What would happen if a life insurance applicant is given a
conditional receipt from an insurance agent and then dies the
next day?
,Claim will be paid if the application is approved
Which of the following signatures is not required on an
individual insurance application?
Insurer
An attending physician's statement would be appropriate for
which life insurance purpose?
At the request of the insurer to assist in the underwriting
decision
All of these are considered key factors in underwriting life
insurance EXCEPT
Marital status
An insurance applicant with a below-average likelihood of
loss is typically considered to be a
Preferred risk
, Preferred risk policies with reduced premiums are issued by
insurance companies because the insured has
Better than average mortality or morbidity experience
We have an expert-written solution to this problem!
What is the purpose of the Medical Information Bureau
(MIB)?
To help underwriters evaluate risk
An insurance company needs to obtain personal information
from a third party concerning an applicant. Which law do all
insurers and their producers need to comply with?
Fair Credit Reporting Act
In which of the following relationships would there NOT be
an insurable interest?
Business owner to business customer
An insurer has a right to screen applicants for HIV in which of
the following ways?
