Insurance Licensing Exam Quiz Questions
with Correct Answers 2025
Dividends ,Payable ,To ,a ,policy ,owner ,are: ,- ,CORRECT ,ANSWER-Declared ,by ,the
,insurance ,company
What ,is ,the ,name ,of ,the ,law ,that ,requires ,insurers ,to ,disclose ,information ,gathering
,practices ,and ,where ,the ,information ,was ,obtained? ,- ,CORRECT ,ANSWER-Fair
,Credit ,Reporting ,Act
Which ,of ,the ,following ,requires ,insurers ,to ,disclose ,when ,an ,applicant's ,consumer ,or
,credit ,history ,is ,being ,investigated: ,- ,CORRECT ,ANSWER-1970-Fair ,Credit ,Reporting
,Act
Which ,of ,these ,describe ,a ,participating ,insurance ,policy? ,- ,CORRECT ,ANSWER-
Policyowners ,are ,entitled ,to ,receive ,dividends
When ,must ,insurable ,interest ,be ,present ,in ,order ,for ,a ,life ,insurance ,policy ,to ,be
,valid? ,- ,CORRECT ,ANSWER-When ,the ,application ,is ,made
A ,life ,insurance ,policy ,would ,be ,considered ,a ,wagering ,contract ,WITHOUT: ,-
,CORRECT ,ANSWER-Insurable ,Interest
E ,and ,F ,are ,business ,partners. ,Each ,takes ,out ,a ,$500,000 ,life ,insurance ,policy ,on
,the ,other, ,naming ,himself ,as ,a ,primary ,beneficiary. ,E ,and ,F ,eventually ,terminate
,their ,business ,& ,4 ,months ,later ,E ,dies. ,Although ,HE ,was ,married ,with ,3 ,children ,at
,the ,time ,of ,death, ,the ,primary ,beneficiary ,is ,still ,F. ,However ,an ,insurable ,interest ,no
,longer ,exists. ,Where ,will ,the ,proceeds ,from ,E's ,life ,insurance ,policy ,be ,directed ,to? ,-
,CORRECT ,ANSWER-F
Representation ,- ,CORRECT ,ANSWER-The ,part ,of ,life ,insurance ,policy ,guaranteed ,to
,be ,true ,is ,called ,a(n):
Investor-Originated ,Life ,Insurance ,- ,CORRECT ,ANSWER-Which ,of ,these
,arrangements ,allows ,one ,to ,bypass ,insurable ,interest ,laws?
The ,Consideration ,Clause ,of ,an ,insurance ,contract ,includes: ,- ,CORRECT ,ANSWER-
The ,schedule ,and ,amount ,of ,premium ,payments
with Correct Answers 2025
Dividends ,Payable ,To ,a ,policy ,owner ,are: ,- ,CORRECT ,ANSWER-Declared ,by ,the
,insurance ,company
What ,is ,the ,name ,of ,the ,law ,that ,requires ,insurers ,to ,disclose ,information ,gathering
,practices ,and ,where ,the ,information ,was ,obtained? ,- ,CORRECT ,ANSWER-Fair
,Credit ,Reporting ,Act
Which ,of ,the ,following ,requires ,insurers ,to ,disclose ,when ,an ,applicant's ,consumer ,or
,credit ,history ,is ,being ,investigated: ,- ,CORRECT ,ANSWER-1970-Fair ,Credit ,Reporting
,Act
Which ,of ,these ,describe ,a ,participating ,insurance ,policy? ,- ,CORRECT ,ANSWER-
Policyowners ,are ,entitled ,to ,receive ,dividends
When ,must ,insurable ,interest ,be ,present ,in ,order ,for ,a ,life ,insurance ,policy ,to ,be
,valid? ,- ,CORRECT ,ANSWER-When ,the ,application ,is ,made
A ,life ,insurance ,policy ,would ,be ,considered ,a ,wagering ,contract ,WITHOUT: ,-
,CORRECT ,ANSWER-Insurable ,Interest
E ,and ,F ,are ,business ,partners. ,Each ,takes ,out ,a ,$500,000 ,life ,insurance ,policy ,on
,the ,other, ,naming ,himself ,as ,a ,primary ,beneficiary. ,E ,and ,F ,eventually ,terminate
,their ,business ,& ,4 ,months ,later ,E ,dies. ,Although ,HE ,was ,married ,with ,3 ,children ,at
,the ,time ,of ,death, ,the ,primary ,beneficiary ,is ,still ,F. ,However ,an ,insurable ,interest ,no
,longer ,exists. ,Where ,will ,the ,proceeds ,from ,E's ,life ,insurance ,policy ,be ,directed ,to? ,-
,CORRECT ,ANSWER-F
Representation ,- ,CORRECT ,ANSWER-The ,part ,of ,life ,insurance ,policy ,guaranteed ,to
,be ,true ,is ,called ,a(n):
Investor-Originated ,Life ,Insurance ,- ,CORRECT ,ANSWER-Which ,of ,these
,arrangements ,allows ,one ,to ,bypass ,insurable ,interest ,laws?
The ,Consideration ,Clause ,of ,an ,insurance ,contract ,includes: ,- ,CORRECT ,ANSWER-
The ,schedule ,and ,amount ,of ,premium ,payments
