PA LIFE ACCIDENT HEALTH END OF COURSE 2025/2026
QUESTIONS WITH SOLUTIONS RATED A+
✔✔b - ✔✔All of the following are TRUE statements regarding the accumulation at
interest option EXCEPT
a. The policyholder has the right to withdraw the accumulations at any time.
b. The interest is not taxable since it remains inside the insurance policy.
c. The interest is credited at a rate specified by the policy.
d. The annual dividend is retained by the company.
✔✔at least 4 years - ✔✔For how long must a company maintain a complete file of all
advertisements used?
✔✔critical illness - ✔✔A health insurance policy that pays a lump sum if the insured
suffers a heart attack or stroke is known as
✔✔increasing - ✔✔A Return of Premium term life policy is written as what type of term
coverage?
✔✔5 days - ✔✔If a consumer requests additional information concerning an
investigative consumer report, how long does the insurer or reporting agency have to
comply?
✔✔single or periodic payment - ✔✔Which two terms are associated directly with the
way an annuity is funded?
✔✔lower - ✔✔The premium of a survivorship life policy compared with that of a joint life
policy would be
✔✔b - ✔✔Which of the following policies would have an IRS required corridor or gap
between the cash value and the death benefit?
a. Equity Indexed Universal Life
b. Universal Life - Option A
c. Universal Life - Option B
d. Variable Universal Life
✔✔Group coverage must be extended for terminated employees up to a certain period
of time at the former employee's expense. - ✔✔As it pertains to group health insurance,
COBRA stipulates that
✔✔monthly - ✔✔Which of the following premium modes would result in the highest
annual cost for an insurance policy: annual, monthly, semi annual, or quarterly?
, ✔✔extended term - ✔✔Which nonforfeiture option has the highest amount of insurance
protection?
✔✔c - ✔✔The annuity owner dies during the accumulation period without naming a
beneficiary. Annuity's cash value exceeds premiums paid. Which of the following is
TRUE?
a. The premium value will be paid to the annuitant's estate.
b. All benefits will be forfeited.
c. The cash value will be paid to the annuitant's estate.
d. The cash value will be paid to the state government.
✔✔a - ✔✔Which of the following would be required to be licensed as an insurance
producer?
a. A salaried employee who advertises and solicits insurance
b. A person whose activities are limited to producing insurance advertisements
c. An insurance company director who performs executive, administrative and
managerial duties
d. A salaried full-time employee who furnishes information for group insurance
✔✔5 years - ✔✔For the purpose of examination by the department, insurers must keep
a record of all financial files for at least
✔✔10 days - ✔✔To avoid violations of unfair claims settlement regulations, insurers are
required to acknowledge the receipt of a claim within how many days?
✔✔20 days - ✔✔A policyowner has sold his life insurance policy to a viatical settlement
provider. How long does the provider have to inform the policyowner's insurer that his
life policy has been viaticated?
✔✔all - ✔✔A producer sold an insurance policy. Subsequently, his license was
suspended. In this case, how much of the commission will the producer receive?
✔✔indemnity - ✔✔Which type of a hospital policy pays a fixed amount each day that
the insured is in a hospital?
✔✔d - ✔✔Which of the following is NOT true of basic medical expense plans?
a. no deductibles
b. low dollar limits
c. first dollar coverage
d. coverage for catastrophic medical expenses
✔✔from trustee to trustee - ✔✔In a direct transfer, how is money transferred from one
retirement plan to a traditional IRA?
QUESTIONS WITH SOLUTIONS RATED A+
✔✔b - ✔✔All of the following are TRUE statements regarding the accumulation at
interest option EXCEPT
a. The policyholder has the right to withdraw the accumulations at any time.
b. The interest is not taxable since it remains inside the insurance policy.
c. The interest is credited at a rate specified by the policy.
d. The annual dividend is retained by the company.
✔✔at least 4 years - ✔✔For how long must a company maintain a complete file of all
advertisements used?
✔✔critical illness - ✔✔A health insurance policy that pays a lump sum if the insured
suffers a heart attack or stroke is known as
✔✔increasing - ✔✔A Return of Premium term life policy is written as what type of term
coverage?
✔✔5 days - ✔✔If a consumer requests additional information concerning an
investigative consumer report, how long does the insurer or reporting agency have to
comply?
✔✔single or periodic payment - ✔✔Which two terms are associated directly with the
way an annuity is funded?
✔✔lower - ✔✔The premium of a survivorship life policy compared with that of a joint life
policy would be
✔✔b - ✔✔Which of the following policies would have an IRS required corridor or gap
between the cash value and the death benefit?
a. Equity Indexed Universal Life
b. Universal Life - Option A
c. Universal Life - Option B
d. Variable Universal Life
✔✔Group coverage must be extended for terminated employees up to a certain period
of time at the former employee's expense. - ✔✔As it pertains to group health insurance,
COBRA stipulates that
✔✔monthly - ✔✔Which of the following premium modes would result in the highest
annual cost for an insurance policy: annual, monthly, semi annual, or quarterly?
, ✔✔extended term - ✔✔Which nonforfeiture option has the highest amount of insurance
protection?
✔✔c - ✔✔The annuity owner dies during the accumulation period without naming a
beneficiary. Annuity's cash value exceeds premiums paid. Which of the following is
TRUE?
a. The premium value will be paid to the annuitant's estate.
b. All benefits will be forfeited.
c. The cash value will be paid to the annuitant's estate.
d. The cash value will be paid to the state government.
✔✔a - ✔✔Which of the following would be required to be licensed as an insurance
producer?
a. A salaried employee who advertises and solicits insurance
b. A person whose activities are limited to producing insurance advertisements
c. An insurance company director who performs executive, administrative and
managerial duties
d. A salaried full-time employee who furnishes information for group insurance
✔✔5 years - ✔✔For the purpose of examination by the department, insurers must keep
a record of all financial files for at least
✔✔10 days - ✔✔To avoid violations of unfair claims settlement regulations, insurers are
required to acknowledge the receipt of a claim within how many days?
✔✔20 days - ✔✔A policyowner has sold his life insurance policy to a viatical settlement
provider. How long does the provider have to inform the policyowner's insurer that his
life policy has been viaticated?
✔✔all - ✔✔A producer sold an insurance policy. Subsequently, his license was
suspended. In this case, how much of the commission will the producer receive?
✔✔indemnity - ✔✔Which type of a hospital policy pays a fixed amount each day that
the insured is in a hospital?
✔✔d - ✔✔Which of the following is NOT true of basic medical expense plans?
a. no deductibles
b. low dollar limits
c. first dollar coverage
d. coverage for catastrophic medical expenses
✔✔from trustee to trustee - ✔✔In a direct transfer, how is money transferred from one
retirement plan to a traditional IRA?
