Oregon Life Insurance Exam Simulation
OREGON LIFE INSURANCE EXAM SIMULATION NEWEST
2025/2026 COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |BRAND NEW VERSION!!
Chris, who is unlicensed, works part-time in her father's insurance agency. She
may perform all of the following activities EXCEPT
a)Assist her father in completing applications for insurance.
b)Call prospects and collect expiration data of their existing policies for her father.
c)Collect premium for in-force policies and explain coverages to clients that have
existing policies written by her father.
d)Make appointments with clients and prospective clients to meet with her father.
- Correct Answer-c
Concerning Medicare Part B, which statement is INCORRECT?
a)It is fully funded by Social Security taxes (FICA).
b)It is known as medical insurance.
c)It offers limited prescription drug coverage.
d)It provides partial coverage for medical expenses not fully covered by Part A. -
Correct Answer-a
Employers can reduce health plan costs by coupling a Health Reimbursement
Account (HRA) with
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, Oregon Life Insurance Exam Simulation
a)Nothing; HRAs cannot be coupled with any other health plan.
b)A high deductible health plan.
c)A low deductible health plan.
d)An IRA. - Correct Answer-b
A prospective insured receives a conditional receipt but dies before the policy is
issued. The insurer will
a)Automatically pay the policy proceeds.
b)Pay the policy proceeds only if it would have issued the policy.
c)Pay the policy proceeds up to an established limit.
d)Not pay the policy proceeds under any circumstances. - Correct Answer-b
All of the following statements are true regarding installments for a fixed amount
EXCEPT
a)Value of the account and future earnings will determine the time period for the
benefits.
b)This option pays a specific amount until the funds are exhausted.
c)The annuitant may select how big the payments will be.
d)The payments will stop when the annuitant dies. - Correct Answer-d
Life insurance death proceeds are
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, Oregon Life Insurance Exam Simulation
a)Taxable to the extent that they exceed 7.5% of the beneficiary's adjusted gross
income.
b)Taxed as a capital gain.
c)Taxed as ordinary income.
d)Generally not taxed as income. - Correct Answer-d
When a fixed annuity owner pays pays a monthly annuity premium to the
insurance company, where is this money placed?
a)Forwarded to an investor
b)Each contract's separate account
c)The annuity owner's account
d)The insurance company's general account - Correct Answer-d
An individual has been making periodic premium payments on an annuity. The
annuity income payments are scheduled to begin after 1 year since the annuity
was purchased. What type of annuity is it?
a)Deferred
b)Fixed
c)Flexible premium
d)Immediate - Correct Answer-a
Which of the following statements concerning buy-sell agreements is true?
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, Oregon Life Insurance Exam Simulation
a)Benefits received are considered income taxable.
b)Buy-sell agreements pay in the event of a medical emergency
.c)Buy-sell agreements are normally funded with a life insurance policy.
d)Premiums paid are deductible as a business expense. - Correct Answer-c
Long-term care policies require that in addition to the applicant at least one
person must be designated in the policy. What is the role of that designated
person?
a)To receive policy benefits if the insured is deceased
b)To pay the premiums on the policy
c)To cosign the policy application
d)To receive notice of policy lapse or termination - Correct Answer-d
Lyle has a $10,000 term life policy. He paid his annual premium on February 1. Lyle
fails to renew the policy and dies on February 28 of the following year. Accounting
for the $200 of earned premium, how much will the beneficiary receive from
Lyle's insurance company?
a)$9,800
b)$200
c)$0
d)$10,000 - Correct Answer-a
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OREGON LIFE INSURANCE EXAM SIMULATION NEWEST
2025/2026 COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |BRAND NEW VERSION!!
Chris, who is unlicensed, works part-time in her father's insurance agency. She
may perform all of the following activities EXCEPT
a)Assist her father in completing applications for insurance.
b)Call prospects and collect expiration data of their existing policies for her father.
c)Collect premium for in-force policies and explain coverages to clients that have
existing policies written by her father.
d)Make appointments with clients and prospective clients to meet with her father.
- Correct Answer-c
Concerning Medicare Part B, which statement is INCORRECT?
a)It is fully funded by Social Security taxes (FICA).
b)It is known as medical insurance.
c)It offers limited prescription drug coverage.
d)It provides partial coverage for medical expenses not fully covered by Part A. -
Correct Answer-a
Employers can reduce health plan costs by coupling a Health Reimbursement
Account (HRA) with
1|Page
, Oregon Life Insurance Exam Simulation
a)Nothing; HRAs cannot be coupled with any other health plan.
b)A high deductible health plan.
c)A low deductible health plan.
d)An IRA. - Correct Answer-b
A prospective insured receives a conditional receipt but dies before the policy is
issued. The insurer will
a)Automatically pay the policy proceeds.
b)Pay the policy proceeds only if it would have issued the policy.
c)Pay the policy proceeds up to an established limit.
d)Not pay the policy proceeds under any circumstances. - Correct Answer-b
All of the following statements are true regarding installments for a fixed amount
EXCEPT
a)Value of the account and future earnings will determine the time period for the
benefits.
b)This option pays a specific amount until the funds are exhausted.
c)The annuitant may select how big the payments will be.
d)The payments will stop when the annuitant dies. - Correct Answer-d
Life insurance death proceeds are
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, Oregon Life Insurance Exam Simulation
a)Taxable to the extent that they exceed 7.5% of the beneficiary's adjusted gross
income.
b)Taxed as a capital gain.
c)Taxed as ordinary income.
d)Generally not taxed as income. - Correct Answer-d
When a fixed annuity owner pays pays a monthly annuity premium to the
insurance company, where is this money placed?
a)Forwarded to an investor
b)Each contract's separate account
c)The annuity owner's account
d)The insurance company's general account - Correct Answer-d
An individual has been making periodic premium payments on an annuity. The
annuity income payments are scheduled to begin after 1 year since the annuity
was purchased. What type of annuity is it?
a)Deferred
b)Fixed
c)Flexible premium
d)Immediate - Correct Answer-a
Which of the following statements concerning buy-sell agreements is true?
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, Oregon Life Insurance Exam Simulation
a)Benefits received are considered income taxable.
b)Buy-sell agreements pay in the event of a medical emergency
.c)Buy-sell agreements are normally funded with a life insurance policy.
d)Premiums paid are deductible as a business expense. - Correct Answer-c
Long-term care policies require that in addition to the applicant at least one
person must be designated in the policy. What is the role of that designated
person?
a)To receive policy benefits if the insured is deceased
b)To pay the premiums on the policy
c)To cosign the policy application
d)To receive notice of policy lapse or termination - Correct Answer-d
Lyle has a $10,000 term life policy. He paid his annual premium on February 1. Lyle
fails to renew the policy and dies on February 28 of the following year. Accounting
for the $200 of earned premium, how much will the beneficiary receive from
Lyle's insurance company?
a)$9,800
b)$200
c)$0
d)$10,000 - Correct Answer-a
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