LIFE INSURANCE EXAM-ILLINOIS EXAM 2026|
BRAND NEW EXAM QUESTIONS WITH 100%
CORRECT SOLUTIONS | GUARANTEED
SUCCESS| ACE YOUR GRADES.
1. The National Do Not Call List - Correct Answer-Federal law; sell by
telemarketing must remove names that have been added to the list
every 31 days
2. Dangerous Recreational Activities and Aviation are - Correct Answer-
warranted statements
3. Dangerous Recreational Activities and Aviation exclusion does - Correct
Answer-coverage is exluded while the insured is engaged in the
excluded dangerous recreation activity or is flying as something other
than a fare paying passenger on a commercial airline
4. If truthfully answers no to Dangerous Recreational Activities and
Aviation questions but later engages in this... - Correct Answer-the
insurance company cannot rate up or add exclusions to the policy after
the policy has been issued
5. Graded premiums are also called - Correct Answer-modified premiums
,6. Graded premiums - Correct Answer-offer a low premium rate for an
initial specified period; premiums increase by a specific amount at
specific intervals
7. Graded Benefits - Correct Answer-no benefits or low benefits for the
initial period, benefits increase by specified amounts at specified
intervals until they equal face amount
8. Misstatement of Age Provision - Correct Answer-misstatement of age or
sex so as to pay too low premium, the insurance company can reduce
benefits to what they would usually provide for a person of the insured's
actual age and sex at the premium rate that the insured has been paying
9. Misstatement of Age Provision lasts - Correct Answer-as long as the
policy is active (even after 2 years)
10. Purpose of Misstatement of Age Provision - Correct Answer-is to
allow the insurance company to issue the policy without proof of age or
sex
11. Guaranteed Insurability Rider - Correct Answer-if added for extra
premium charge, guarantees the insured the right to purchase additional
, insurance at the premium rate for the insured's attained age without
evidence of insurability
12. Guaranteed Insurability Rider allows immediate move up to his/her
next option when - Correct Answer-insured marries or has a child
13. Guaranteed Insurability Rider if insured passes up an option... -
Correct Answer-it is lost and cannot be recovered
14. Accidental Death Insurance - Correct Answer-it pays benefits for
death caused by injuries sustained by accidental means
15. Double Indemnity or Triple indemnity - Correct Answer-when
accidental death insurance is added on as a rider to another life
insurance policy
16. Whole Life Insurance also known as - Correct Answer-Straight Life
Insurance and Ordinary Life insurance
17. Whole life insurance - Correct Answer-premium stays level until age
100 maturity
, 18. who can borrow against whole life insurance policy? - Correct
Answer-Policy owner
19. Modified whole life also known as - Correct Answer-Modified 3 or 5 or
Graded Premium Whole life
20. Modified whole life - Correct Answer-the premium is reduced for an
initial period and then is level thereafter
21. Limited-Pay Whole Life also known as - Correct Answer-single
premium life, 20 pay life, life paid-up at age 55
22. Limited-Pay Whole Life - Correct Answer-it has a level premium rate
for a shortened premium payment period
23. Adjustable life - Correct Answer-it provides flexibility in premium
amount, face amount and amount of cash value accumulation. The face
amount can be increased or decreased within limitations specified in the
policy
BRAND NEW EXAM QUESTIONS WITH 100%
CORRECT SOLUTIONS | GUARANTEED
SUCCESS| ACE YOUR GRADES.
1. The National Do Not Call List - Correct Answer-Federal law; sell by
telemarketing must remove names that have been added to the list
every 31 days
2. Dangerous Recreational Activities and Aviation are - Correct Answer-
warranted statements
3. Dangerous Recreational Activities and Aviation exclusion does - Correct
Answer-coverage is exluded while the insured is engaged in the
excluded dangerous recreation activity or is flying as something other
than a fare paying passenger on a commercial airline
4. If truthfully answers no to Dangerous Recreational Activities and
Aviation questions but later engages in this... - Correct Answer-the
insurance company cannot rate up or add exclusions to the policy after
the policy has been issued
5. Graded premiums are also called - Correct Answer-modified premiums
,6. Graded premiums - Correct Answer-offer a low premium rate for an
initial specified period; premiums increase by a specific amount at
specific intervals
7. Graded Benefits - Correct Answer-no benefits or low benefits for the
initial period, benefits increase by specified amounts at specified
intervals until they equal face amount
8. Misstatement of Age Provision - Correct Answer-misstatement of age or
sex so as to pay too low premium, the insurance company can reduce
benefits to what they would usually provide for a person of the insured's
actual age and sex at the premium rate that the insured has been paying
9. Misstatement of Age Provision lasts - Correct Answer-as long as the
policy is active (even after 2 years)
10. Purpose of Misstatement of Age Provision - Correct Answer-is to
allow the insurance company to issue the policy without proof of age or
sex
11. Guaranteed Insurability Rider - Correct Answer-if added for extra
premium charge, guarantees the insured the right to purchase additional
, insurance at the premium rate for the insured's attained age without
evidence of insurability
12. Guaranteed Insurability Rider allows immediate move up to his/her
next option when - Correct Answer-insured marries or has a child
13. Guaranteed Insurability Rider if insured passes up an option... -
Correct Answer-it is lost and cannot be recovered
14. Accidental Death Insurance - Correct Answer-it pays benefits for
death caused by injuries sustained by accidental means
15. Double Indemnity or Triple indemnity - Correct Answer-when
accidental death insurance is added on as a rider to another life
insurance policy
16. Whole Life Insurance also known as - Correct Answer-Straight Life
Insurance and Ordinary Life insurance
17. Whole life insurance - Correct Answer-premium stays level until age
100 maturity
, 18. who can borrow against whole life insurance policy? - Correct
Answer-Policy owner
19. Modified whole life also known as - Correct Answer-Modified 3 or 5 or
Graded Premium Whole life
20. Modified whole life - Correct Answer-the premium is reduced for an
initial period and then is level thereafter
21. Limited-Pay Whole Life also known as - Correct Answer-single
premium life, 20 pay life, life paid-up at age 55
22. Limited-Pay Whole Life - Correct Answer-it has a level premium rate
for a shortened premium payment period
23. Adjustable life - Correct Answer-it provides flexibility in premium
amount, face amount and amount of cash value accumulation. The face
amount can be increased or decreased within limitations specified in the
policy
