WebCE Practice Test Questions
Under a life insurance policy's b. non-payment of premiums
incontestability clause, after a
certain period the insurer cannot
contest a claim for any reason,
EXCEPT:
a. the insured becoming
uninsurable within two years of
the application
b. non-payment of premiums
c. an absolute assignment of the
policy
d. moral turpitude, as
defined by the
policyowner's state of
residence
For estate tax purposes, what is a. It is generally includible in the valuation of his or her estate.
the value of any life insurance
policy a person owns at his or
her death?
a. It is generally includible in the
valuation of his or her estate.
b. It is fully deductible from the
insured's estate.
c. It is subject to estate taxes
at the beneficiary's
death.
d. It is includible in the beneficiary's
estate.
,When meeting with a prospect a. defamation
to discuss life insurance, Agent
Tyler makes disparaging
comments about the financial
stability and reputation of a
competitor to dissuade the
prospect from purchasing its
policies. Which unfair trade
practice has Agent Tyler
committed?
a. defamation
b. rebating
c. unfair discrimination
d. coercion
Suzanne's group health b. 31 days
insurance policy terminated on
December 31. Within how many
days must she apply for a
conversion policy?
a. 30 days
b. 31 days
c. 45 days
d. 60 days
Sue, an annuity owner, names her d. the joint life expectancy of Sue's son and daughter
15-year- old son and 10-year-old
daughter as joint annuitants of
her contract. Upon whose life (or
lives) are income payments
determined?
a. Sue's life
b. Sue's son's life
c. Sue's daughter's life
d. the joint life expectancy of
Sue's son and daughter
Which plan is associated with a. indemnity plans
traditional insurers and
reimburses the insured for the
cost of covered medical care
received?
a. indemnity
plans
b. managed care plans
c. HMOs
d. PPOs
Horace buys a Medicare d. 30 days
supplement insurance policy but
,decides not to keep it. How
many days does he have to
return it for a full refund of the
premium?
a. 10 days
b. 14 days
c. 21 days
d. 30 days
, Under a policy's facility of d. The insurer names a blood relative or someone with a valid
payment provision, what does an claim as the new beneficiary.
insurer do with the death benefit
if a valid beneficiary is not
identifiable?
a. The insurer holds the
funds in trust until the insured's
estate is probated.
b. The insurer keeps the money.
c. The insurer transfers the
money to the state.
d. The insurer names a blood
relative or someone with a
valid claim as the new
beneficiary.
What is the grace period for d. 31 days
payment of a premium on a
group life insurance policy?
a. 15 days
b. 20 days
c. 30 days
d. 31 days
Settlement options with a life d. the beneficiary's lifespan
contingency base their benefit
payments on:
a. the insurance company's
schedule of benefit payment
amounts
b. an amount specified in the policy
c. the insured's lifespan
d. the beneficiary's lifespan
Level term life insurance provides b. a level premium and a level death benefit
which of the following?
a. a level premium and a flexible
death benefit
b. a level premium and a
level death benefit
c. an increasing premium and a
level death benefit
d. an increasing premium and a
decreasing death benefit
ABC Insurance Company b. three years
diligently maintains files of
advertisements it uses to market
Under a life insurance policy's b. non-payment of premiums
incontestability clause, after a
certain period the insurer cannot
contest a claim for any reason,
EXCEPT:
a. the insured becoming
uninsurable within two years of
the application
b. non-payment of premiums
c. an absolute assignment of the
policy
d. moral turpitude, as
defined by the
policyowner's state of
residence
For estate tax purposes, what is a. It is generally includible in the valuation of his or her estate.
the value of any life insurance
policy a person owns at his or
her death?
a. It is generally includible in the
valuation of his or her estate.
b. It is fully deductible from the
insured's estate.
c. It is subject to estate taxes
at the beneficiary's
death.
d. It is includible in the beneficiary's
estate.
,When meeting with a prospect a. defamation
to discuss life insurance, Agent
Tyler makes disparaging
comments about the financial
stability and reputation of a
competitor to dissuade the
prospect from purchasing its
policies. Which unfair trade
practice has Agent Tyler
committed?
a. defamation
b. rebating
c. unfair discrimination
d. coercion
Suzanne's group health b. 31 days
insurance policy terminated on
December 31. Within how many
days must she apply for a
conversion policy?
a. 30 days
b. 31 days
c. 45 days
d. 60 days
Sue, an annuity owner, names her d. the joint life expectancy of Sue's son and daughter
15-year- old son and 10-year-old
daughter as joint annuitants of
her contract. Upon whose life (or
lives) are income payments
determined?
a. Sue's life
b. Sue's son's life
c. Sue's daughter's life
d. the joint life expectancy of
Sue's son and daughter
Which plan is associated with a. indemnity plans
traditional insurers and
reimburses the insured for the
cost of covered medical care
received?
a. indemnity
plans
b. managed care plans
c. HMOs
d. PPOs
Horace buys a Medicare d. 30 days
supplement insurance policy but
,decides not to keep it. How
many days does he have to
return it for a full refund of the
premium?
a. 10 days
b. 14 days
c. 21 days
d. 30 days
, Under a policy's facility of d. The insurer names a blood relative or someone with a valid
payment provision, what does an claim as the new beneficiary.
insurer do with the death benefit
if a valid beneficiary is not
identifiable?
a. The insurer holds the
funds in trust until the insured's
estate is probated.
b. The insurer keeps the money.
c. The insurer transfers the
money to the state.
d. The insurer names a blood
relative or someone with a
valid claim as the new
beneficiary.
What is the grace period for d. 31 days
payment of a premium on a
group life insurance policy?
a. 15 days
b. 20 days
c. 30 days
d. 31 days
Settlement options with a life d. the beneficiary's lifespan
contingency base their benefit
payments on:
a. the insurance company's
schedule of benefit payment
amounts
b. an amount specified in the policy
c. the insured's lifespan
d. the beneficiary's lifespan
Level term life insurance provides b. a level premium and a level death benefit
which of the following?
a. a level premium and a flexible
death benefit
b. a level premium and a
level death benefit
c. an increasing premium and a
level death benefit
d. an increasing premium and a
decreasing death benefit
ABC Insurance Company b. three years
diligently maintains files of
advertisements it uses to market
