Pennsylvania Life & Health Insurance Exam
PENNSYLVANIA LIFE & HEALTH INSURANCE EXAM NEWEST
ACTUAL EXAM COMPLETE 150 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED
A+||BRAND NEW VERSION!!
Which of the following is not a requirement that an illustration must meet before
it can be used by an insurance producer?
a. The illustration must be non-deceptive
b. The illustration must be accurate
c. The illustration must be submitted to the state commissioner for approval
d. The illustration must contain a description of the insurer's financial status -
Correct Answer-d. The illustration must contain a description of the insurer's
financial status
Which of the following elements of an increasing term policy increase over the
term of the policy?
a. The cash value
b. All of these are true
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, Pennsylvania Life & Health Insurance Exam
c. The death benefits
d. The premium rate - Correct Answer-c. The death benefits
Pennsylvania has created a sample disclosure notice for insurance producers. The
first clause of this notice concerns which of the following topics?
a. Categories of information a licensee collects
b. Categories of information a licensee discloses
c. The license number and business name of the licensee
d. Explanation of opt-out right - Correct Answer-d. Explanation of opt-out right
The correct amount of life insurance...
a. is impossible to determine.
b. is usually same for most people with minimal variation.
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, Pennsylvania Life & Health Insurance Exam
c. is always the same regardless of the age of the insured and the number of
dependents he or she may have.
d. varies according to elements like the age of the insured and the number of
dependents he or she may have. - Correct Answer-d. varies according to elements
like the age of the insured and the number of dependents he or she may have.
Which of the following is not usually contained in an investigative consumer
report?
a. Information on an individual's character
b. Information on an individual's lifestyle
c. Information on an individual's reputation
d. Information on the individual's credit rating - Correct Answer-d. Information on
the individual's credit rating
In regards to the human life approach to determining the necessary amount of
personal life insurance, which of the following is a factor used to calculate the
value of an individual to his or her dependents?
a. The value of the individual's dollar as it depreciates over time
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, Pennsylvania Life & Health Insurance Exam
b. All of these are correct
c. The value of all financial needs that would result from an immediate death of
the insured
d. The solvency ratio of any financial institution the insured is associated with -
Correct Answer-c. The value of all financial needs that would result from an
immediate death of the insured
Which non-forfeiture option allows the policyholder to take the cash value from
the policy before surrendering it?
a. Extended term
b. Cash surrender value
c. Endowment value
d. Paid-up distribution - Correct Answer-a. Extended term
A licensee who was licensed as an agent or broker for a line of authority prior to
January 1, __________ , and who has been continuously licensed as an agent,
broker or producer for the line of authority since that time does not need to
complete any continuing education
a. 1968
b.1985
c. 1971
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PENNSYLVANIA LIFE & HEALTH INSURANCE EXAM NEWEST
ACTUAL EXAM COMPLETE 150 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED
A+||BRAND NEW VERSION!!
Which of the following is not a requirement that an illustration must meet before
it can be used by an insurance producer?
a. The illustration must be non-deceptive
b. The illustration must be accurate
c. The illustration must be submitted to the state commissioner for approval
d. The illustration must contain a description of the insurer's financial status -
Correct Answer-d. The illustration must contain a description of the insurer's
financial status
Which of the following elements of an increasing term policy increase over the
term of the policy?
a. The cash value
b. All of these are true
1|Page
, Pennsylvania Life & Health Insurance Exam
c. The death benefits
d. The premium rate - Correct Answer-c. The death benefits
Pennsylvania has created a sample disclosure notice for insurance producers. The
first clause of this notice concerns which of the following topics?
a. Categories of information a licensee collects
b. Categories of information a licensee discloses
c. The license number and business name of the licensee
d. Explanation of opt-out right - Correct Answer-d. Explanation of opt-out right
The correct amount of life insurance...
a. is impossible to determine.
b. is usually same for most people with minimal variation.
2|Page
, Pennsylvania Life & Health Insurance Exam
c. is always the same regardless of the age of the insured and the number of
dependents he or she may have.
d. varies according to elements like the age of the insured and the number of
dependents he or she may have. - Correct Answer-d. varies according to elements
like the age of the insured and the number of dependents he or she may have.
Which of the following is not usually contained in an investigative consumer
report?
a. Information on an individual's character
b. Information on an individual's lifestyle
c. Information on an individual's reputation
d. Information on the individual's credit rating - Correct Answer-d. Information on
the individual's credit rating
In regards to the human life approach to determining the necessary amount of
personal life insurance, which of the following is a factor used to calculate the
value of an individual to his or her dependents?
a. The value of the individual's dollar as it depreciates over time
3|Page
, Pennsylvania Life & Health Insurance Exam
b. All of these are correct
c. The value of all financial needs that would result from an immediate death of
the insured
d. The solvency ratio of any financial institution the insured is associated with -
Correct Answer-c. The value of all financial needs that would result from an
immediate death of the insured
Which non-forfeiture option allows the policyholder to take the cash value from
the policy before surrendering it?
a. Extended term
b. Cash surrender value
c. Endowment value
d. Paid-up distribution - Correct Answer-a. Extended term
A licensee who was licensed as an agent or broker for a line of authority prior to
January 1, __________ , and who has been continuously licensed as an agent,
broker or producer for the line of authority since that time does not need to
complete any continuing education
a. 1968
b.1985
c. 1971
4|Page
