LIFE PRODUCER GAURANTY EXAM WITH
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+ 2025 – 2026
Which of the following reduces opportunity for
misrepresentation, protects the interests of the
policyholders by establishing minimum standards, and
establishes penalties for failure to comply with
requirements? - ANSWERS-Replacement—
Replacement rules reduce opportunity for
misrepresentation, protect the interests of the policyholders
by establishing minimum standards, and establish penalties
for failure to comply with requirements
All the following are true regarding qualifications for
licensing in Hawaii EXCEPT - ANSWERS-The applicant can
apply if he or she has been convicted of a felony
,all of the following are true of credit life EXCEPT - ANSWERS-
The insured names the beneficiary
Guaranteeing future dividends is considered to be an unfair
or deceptive act known as - ANSWERS-Misrepresentation
During policy solicitation, an insurer exaggerates the
financial condition of one of its competitors, and makes it
sounds worse than it is. This is an example of an unfair trade
practice of - ANSWERS-Defamation
Which of the following is NOT a duty of the existing insurer
when replacement is involved? - ANSWERS-Provide notice
to the policy owner the right to return the policy within 30
days of delivery and receive a full refund
An insurer decided to terminate a producer. The insurer just
notified the Commissioner of this decision. How long does
the insurer have to mail a copy of the notification to the
producer? - ANSWERS-15 days
A married couple wants to include the entire family in their
whole life policy under one rider. Which of the following
, riders will help them achieve that goal? - ANSWERS-Family
term
The entire contract includes all of the following EXCEPT -
ANSWERS-A buyer's guide
Which of the following would NOT be eligible for coverage
under key person? - ANSWERS-owner of a shop
In order for a business partner to be eligible for a Keogh
plan, he/she must work full-time and own at least how
much of the business? - ANSWERS-10%
Which of the following are characteristics of term life
insurance? - ANSWERS-Renewable,low cost
What is the maximum loan amount a policyowner may
withdrawal from a variable universal life insurance policy? -
ANSWERS-An amount not exceeding the cash value
Under which of the following conditions would life
insurance proceeds be taxable by the federal government? -
ANSWERS-If taken in lump sum
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+ 2025 – 2026
Which of the following reduces opportunity for
misrepresentation, protects the interests of the
policyholders by establishing minimum standards, and
establishes penalties for failure to comply with
requirements? - ANSWERS-Replacement—
Replacement rules reduce opportunity for
misrepresentation, protect the interests of the policyholders
by establishing minimum standards, and establish penalties
for failure to comply with requirements
All the following are true regarding qualifications for
licensing in Hawaii EXCEPT - ANSWERS-The applicant can
apply if he or she has been convicted of a felony
,all of the following are true of credit life EXCEPT - ANSWERS-
The insured names the beneficiary
Guaranteeing future dividends is considered to be an unfair
or deceptive act known as - ANSWERS-Misrepresentation
During policy solicitation, an insurer exaggerates the
financial condition of one of its competitors, and makes it
sounds worse than it is. This is an example of an unfair trade
practice of - ANSWERS-Defamation
Which of the following is NOT a duty of the existing insurer
when replacement is involved? - ANSWERS-Provide notice
to the policy owner the right to return the policy within 30
days of delivery and receive a full refund
An insurer decided to terminate a producer. The insurer just
notified the Commissioner of this decision. How long does
the insurer have to mail a copy of the notification to the
producer? - ANSWERS-15 days
A married couple wants to include the entire family in their
whole life policy under one rider. Which of the following
, riders will help them achieve that goal? - ANSWERS-Family
term
The entire contract includes all of the following EXCEPT -
ANSWERS-A buyer's guide
Which of the following would NOT be eligible for coverage
under key person? - ANSWERS-owner of a shop
In order for a business partner to be eligible for a Keogh
plan, he/she must work full-time and own at least how
much of the business? - ANSWERS-10%
Which of the following are characteristics of term life
insurance? - ANSWERS-Renewable,low cost
What is the maximum loan amount a policyowner may
withdrawal from a variable universal life insurance policy? -
ANSWERS-An amount not exceeding the cash value
Under which of the following conditions would life
insurance proceeds be taxable by the federal government? -
ANSWERS-If taken in lump sum
