PA LIFE INSURANCE EXAM 2025/2026 – QUESTIONS AND VERIFIED ANSWERS |
GRADED A+
Single premium cash value policy can be described as.. -
Answer--a policy that is paid up only after one payment
All of the following are considered appropriate uses of life insurance.. -
Answer--- attracting quality employees by offering a group life plan
- protecting the business by covering key employees with life insurance
- funding an entity buy sell agreement
The do not call list offers exemption from all except -
Answer--life insurance
Ken is a producer who has consumer info reports under false pretenses under the
fair credit reporting act, what is the max penalty.. -
Answer--$5000 & 1 year in jail
Which type of annuity guarantees a stated number of income payments whether
or not the annuitant is still alive to receive it -
Answer--life annuity certain
In what part of the policy are the policy benefits found -
Answer--conditions
Commissioner is responsible for all of the following.. -
Answer--- issue cease & desist orders
- conduct hearings
- regulate premium rates
Maria would like an annuity that provides a guaranteed accumulation or payout.
The type of annuity she is seeking is called.. -
Answer--annuity certain
Which type of rider will waive the premium on a child's life insurance policy if the
parent paying the premium dies? -
Answer--guaranteed insurability
Pat owns a 20 pay life policy with a paid dividend option. Which of the following
statements is true? -
Answer--the policy may be paid up early by using policy dividends
A renewable term life insurance policy can be renewed -
Answer--anytime the policy owners request
What would a be an expense factor in an insurance program -
Answer--mortality costs
Which of the following is an annuity that is linked to a market related index.. -
, Answer--equity index annuity
Agreements made by terminally ill persons to sell their life insurance policies at a
discount in order to pay medical expenses is called.. -
Answer--viatical settlements
GRADED A+
Single premium cash value policy can be described as.. -
Answer--a policy that is paid up only after one payment
All of the following are considered appropriate uses of life insurance.. -
Answer--- attracting quality employees by offering a group life plan
- protecting the business by covering key employees with life insurance
- funding an entity buy sell agreement
The do not call list offers exemption from all except -
Answer--life insurance
Ken is a producer who has consumer info reports under false pretenses under the
fair credit reporting act, what is the max penalty.. -
Answer--$5000 & 1 year in jail
Which type of annuity guarantees a stated number of income payments whether
or not the annuitant is still alive to receive it -
Answer--life annuity certain
In what part of the policy are the policy benefits found -
Answer--conditions
Commissioner is responsible for all of the following.. -
Answer--- issue cease & desist orders
- conduct hearings
- regulate premium rates
Maria would like an annuity that provides a guaranteed accumulation or payout.
The type of annuity she is seeking is called.. -
Answer--annuity certain
Which type of rider will waive the premium on a child's life insurance policy if the
parent paying the premium dies? -
Answer--guaranteed insurability
Pat owns a 20 pay life policy with a paid dividend option. Which of the following
statements is true? -
Answer--the policy may be paid up early by using policy dividends
A renewable term life insurance policy can be renewed -
Answer--anytime the policy owners request
What would a be an expense factor in an insurance program -
Answer--mortality costs
Which of the following is an annuity that is linked to a market related index.. -
, Answer--equity index annuity
Agreements made by terminally ill persons to sell their life insurance policies at a
discount in order to pay medical expenses is called.. -
Answer--viatical settlements
