Delaware Life Producer Exam ACTUAL
QUESTIONS AND CORRECT ANSWERS
A(n) _ may also perform the duties of a consultant. - Correct answers✔producer
What is an example of a producer's implied authority? - Correct answers✔Collecting premiums
The Commissioner may suspend or revoke a producer's license for - Correct answers✔keeping
premiums owed to the insurer
An insurer is charged _ for submitting an application for a certificate of authority in Delaware. -
Correct answers✔$700
In Delaware, an insurer is prohibited from - Correct answers✔making a political contribution to
any candidate for the office of the Commissioner.
Which of the following is the reimbursement of benefits for the treatment of a beneficiary's
injuries caused by a third party? - Correct answers✔Subrogation
The clause is an Accident and Health policy which defines the benefit amounts the insurer will
pay is called the - Correct answers✔Insuring clause
Which of the following is NOT an example of a producer's breach of fiduciary duty? - Correct
answers✔allowing premiums to be submitted electronically
Which health policy clause stipulates that an insurance company must attach a copy of the
application to the policy to ensure that it is part of the contract? - Correct answers✔Entire
Contract
, What percentage of employees must participate in a noncontributory group life insurance plan? -
Correct answers✔100%
A licensee's business records must be maintained and made available for inspection by the
Commissioner for a period of - Correct answers✔3 years
When an existing life insurance policy is being reissued with a reduction in cash value, the
producer must sign the - Correct answers✔Notice Regarding Replacement of Life Insurance or
Annuity
Which of the following statements about Credit Life insurance is true? - Correct answers✔A
debtor may use existing coverage already in force
Long-Term Care insurance provides custodial coverage in the event an insured cannot - Correct
answers✔perform activities of daily living
A producer must report a change in address to the Commissioner within - Correct answers✔30
days
E&O (Errors and Omissions) insurance protects a(n) - Correct answers✔producer against
disgruntled clients
To maintain continued coverage for a newborn under an accident and sickness policy, the policy
owner must provide notification of birth and payment of premium to the insurance company
within a MAXIMUM of how many days after birth? - Correct answers✔Thirty-one
Market Conduct examinations include all of these areas EXCEPT - Correct answers✔producer
contracts... it does include underwriting, marketing tactics, and advertising
QUESTIONS AND CORRECT ANSWERS
A(n) _ may also perform the duties of a consultant. - Correct answers✔producer
What is an example of a producer's implied authority? - Correct answers✔Collecting premiums
The Commissioner may suspend or revoke a producer's license for - Correct answers✔keeping
premiums owed to the insurer
An insurer is charged _ for submitting an application for a certificate of authority in Delaware. -
Correct answers✔$700
In Delaware, an insurer is prohibited from - Correct answers✔making a political contribution to
any candidate for the office of the Commissioner.
Which of the following is the reimbursement of benefits for the treatment of a beneficiary's
injuries caused by a third party? - Correct answers✔Subrogation
The clause is an Accident and Health policy which defines the benefit amounts the insurer will
pay is called the - Correct answers✔Insuring clause
Which of the following is NOT an example of a producer's breach of fiduciary duty? - Correct
answers✔allowing premiums to be submitted electronically
Which health policy clause stipulates that an insurance company must attach a copy of the
application to the policy to ensure that it is part of the contract? - Correct answers✔Entire
Contract
, What percentage of employees must participate in a noncontributory group life insurance plan? -
Correct answers✔100%
A licensee's business records must be maintained and made available for inspection by the
Commissioner for a period of - Correct answers✔3 years
When an existing life insurance policy is being reissued with a reduction in cash value, the
producer must sign the - Correct answers✔Notice Regarding Replacement of Life Insurance or
Annuity
Which of the following statements about Credit Life insurance is true? - Correct answers✔A
debtor may use existing coverage already in force
Long-Term Care insurance provides custodial coverage in the event an insured cannot - Correct
answers✔perform activities of daily living
A producer must report a change in address to the Commissioner within - Correct answers✔30
days
E&O (Errors and Omissions) insurance protects a(n) - Correct answers✔producer against
disgruntled clients
To maintain continued coverage for a newborn under an accident and sickness policy, the policy
owner must provide notification of birth and payment of premium to the insurance company
within a MAXIMUM of how many days after birth? - Correct answers✔Thirty-one
Market Conduct examinations include all of these areas EXCEPT - Correct answers✔producer
contracts... it does include underwriting, marketing tactics, and advertising
