RI Pre-Licensing Life & Health Insurance
ACTUAL QUESTIONS AND CORRECT
ANSWERS
In the event that an insured's premium is not paid by the due date, the result will be... -
CORRECT ANSWERS✅✅Coverage will continue for not more than a maximum of 31
days, beyond which time the policy will lapse
A Medicare Supplement policy may be cancelled for which of the following reasons? -
CORRECT ANSWERS✅✅The insured fails to pay the premium
Which type of insurance company allows their policy owners to elect a governing body? -
CORRECT ANSWERS✅✅Mutual
When the Insurance Commissioner deems the public interest would best be served by the
issuance of a temporary license the commissioner may issue the license for a period -
CORRECT ANSWERS✅✅Not to exceed a max of 180 days without requiring an
examination
In a life insurance transaction when must the producer disclose the name of the insurer? -
CORRECT ANSWERS✅✅Prior to the sales presentation
A life insurance policy owner may sell their policy to a(n) ___________ in order to receive a
percentage of the policy's face value - CORRECT ANSWERS✅✅Viatical Settlement
Provider
Variable life products require a producer to - CORRECT ANSWERS✅✅Hold a Life
insurance license and securities license
In the course of making a sales presentation, a producer may not say ... - CORRECT
ANSWERS✅✅The Rhode Island Guaranty Association will protect you
The director of Business Regulation CANNOT take which of the following actions? -
CORRECT ANSWERS✅✅Activate an insurer's financial reserves
,Life and Health Producers, who hold Property Casualty authority , are required to complete
timely continuing education credits in order to renew their license. Which of the following
requirements must be satisfied? - CORRECT ANSWERS✅✅Total of 24 credit hours in Life
and Health or Property Casualty. 3 of which must be in ethics
The Director of Business Regulation may revoke a producer's license upon the finding of... -
CORRECT ANSWERS✅✅Sharing of commissions
The Dept. of Business Regulations may revoke a producer's license for each of the following
offenses EXCEPT: - CORRECT ANSWERS✅✅Violating an insurer's internal control
requirements
Advertisement for Accident and Health insurance can be considered all of the following
EXCEPT - CORRECT ANSWERS✅✅Company's financial rating
The waiting period for a pre-existing condition under a Medicare Supplement policy may
NOT go beyond - CORRECT ANSWERS✅✅6 months
If an application for producer license is denied, the applicant may make a written request for
a hearing to appeal this decision within - CORRECT ANSWERS✅✅30 days
In Rhode Island, replacement forms are required to be obtained for the replacement of which
of the following - CORRECT ANSWERS✅✅Annual Renewable Term (ART) Insurance
According to the Affordable Care Act a dependent child's eligibility status is determined by -
CORRECT ANSWERS✅✅Age (up until 26)
Defamation may be described as which of the following - CORRECT
ANSWERS✅✅Brochures the malign the financial standing of the admitted insurer
Under Rhode Island law, a producer may NOT state which of the following - CORRECT
ANSWERS✅✅Mutual insurers pay dividends just as though you held stock in the company
,Which of the following statements is a producer not permitted to say - CORRECT
ANSWERS✅✅"If my company fails to pay a claim, the Guarantee Association will pay"
In order to renew a producer's license in Rhode Island, continuing education credits are
required for each of the following EXCEPT: - CORRECT ANSWERS✅✅Residents holding
a license for 25 consecutive years and are under the age of 55 at time of renewal
An unemployed Medicare enrollee suffers 3 hospital admissions in the course of a year.
Which of the following health plans provides the BEST method of coverage for excess
hospital charges? - CORRECT ANSWERS✅✅Medicare Supplement
Advising a proposed insured that the required premium is lower than it actually would be,
given the current rate classification is an example of - CORRECT
ANSWERS✅✅Misrepresentation
In RI all Accident and Health insurance plans are required to provide coverage for the
services of properly licensed midwives in accordance with each of the following
requirements EXCEPT: - CORRECT ANSWERS✅✅At home birthing services are covered
The Director must give how many days notice prior to holding a hearing regarding a
producer's unfair or deceptive practice? - CORRECT ANSWERS✅✅10 days
Which of the following does the RI Life and Health Insurance Guaranty Association Act
apply to? - CORRECT ANSWERS✅✅Annuity Contracts
In RI the min. rate increase and/or decrease that an insurer may adjust for policy loan interest
rates per annum is - CORRECT ANSWERS✅✅.50%
In state of RI commissions may be paid to a non licensed individual if - CORRECT
ANSWERS✅✅The commissions were earned on a renewal premium and the individual held
the proper license at the time of the original sale
A producer making an unfair comparison of two insurance policies is considered to be
engaging in - CORRECT ANSWERS✅✅Misrepresentation
, RI requires that an insurance producer must complete _______ hours of continuing education
on the subject of ethics every 2 years - CORRECT ANSWERS✅✅3 hours
Essential Benefits without annual and lifetime limits are required on any health policy
purchased - CORRECT ANSWERS✅✅Through the Federal Marketplace
At what point does an insurer begin to owe interest on death proceeds payable to a life
insurance beneficiary - CORRECT ANSWERS✅✅Date of death
A Long Term care policy may exclude coverage for which of the following conditions -
CORRECT ANSWERS✅✅Mental or nervous disorders
Every HMO conducting business in the state of RI must provide all the following disclosures
to newly enrolled subscribers EXCEPT - CORRECT ANSWERS✅✅List of current
shareholders of the organization
A producer knowingly assists client in withholding material facts while taking in an Accident
and Health insurance application. His action may be considered which of the following: -
CORRECT ANSWERS✅✅Fraud
One definition of replacement is "the act of replacing an existing insurance policy with
another" Replacement is - CORRECT ANSWERS✅✅Closely regulated and requires full
disclosure
What is the earliest age a non disabled individual becomes eligible for Medicare Supplement
policy? - CORRECT ANSWERS✅✅65 years old
Annuity suitability regulations in RI require that a producer obtain each of the following
criteria EXCEPT: - CORRECT ANSWERS✅✅Sexual Orientation
When soliciting an Accident and Health insurance plan, a producer advises the applicant that
smoker a non smoker rates are the same. The producer's advice is an act of: - CORRECT
ANSWERS✅✅Misrepresentation
ACTUAL QUESTIONS AND CORRECT
ANSWERS
In the event that an insured's premium is not paid by the due date, the result will be... -
CORRECT ANSWERS✅✅Coverage will continue for not more than a maximum of 31
days, beyond which time the policy will lapse
A Medicare Supplement policy may be cancelled for which of the following reasons? -
CORRECT ANSWERS✅✅The insured fails to pay the premium
Which type of insurance company allows their policy owners to elect a governing body? -
CORRECT ANSWERS✅✅Mutual
When the Insurance Commissioner deems the public interest would best be served by the
issuance of a temporary license the commissioner may issue the license for a period -
CORRECT ANSWERS✅✅Not to exceed a max of 180 days without requiring an
examination
In a life insurance transaction when must the producer disclose the name of the insurer? -
CORRECT ANSWERS✅✅Prior to the sales presentation
A life insurance policy owner may sell their policy to a(n) ___________ in order to receive a
percentage of the policy's face value - CORRECT ANSWERS✅✅Viatical Settlement
Provider
Variable life products require a producer to - CORRECT ANSWERS✅✅Hold a Life
insurance license and securities license
In the course of making a sales presentation, a producer may not say ... - CORRECT
ANSWERS✅✅The Rhode Island Guaranty Association will protect you
The director of Business Regulation CANNOT take which of the following actions? -
CORRECT ANSWERS✅✅Activate an insurer's financial reserves
,Life and Health Producers, who hold Property Casualty authority , are required to complete
timely continuing education credits in order to renew their license. Which of the following
requirements must be satisfied? - CORRECT ANSWERS✅✅Total of 24 credit hours in Life
and Health or Property Casualty. 3 of which must be in ethics
The Director of Business Regulation may revoke a producer's license upon the finding of... -
CORRECT ANSWERS✅✅Sharing of commissions
The Dept. of Business Regulations may revoke a producer's license for each of the following
offenses EXCEPT: - CORRECT ANSWERS✅✅Violating an insurer's internal control
requirements
Advertisement for Accident and Health insurance can be considered all of the following
EXCEPT - CORRECT ANSWERS✅✅Company's financial rating
The waiting period for a pre-existing condition under a Medicare Supplement policy may
NOT go beyond - CORRECT ANSWERS✅✅6 months
If an application for producer license is denied, the applicant may make a written request for
a hearing to appeal this decision within - CORRECT ANSWERS✅✅30 days
In Rhode Island, replacement forms are required to be obtained for the replacement of which
of the following - CORRECT ANSWERS✅✅Annual Renewable Term (ART) Insurance
According to the Affordable Care Act a dependent child's eligibility status is determined by -
CORRECT ANSWERS✅✅Age (up until 26)
Defamation may be described as which of the following - CORRECT
ANSWERS✅✅Brochures the malign the financial standing of the admitted insurer
Under Rhode Island law, a producer may NOT state which of the following - CORRECT
ANSWERS✅✅Mutual insurers pay dividends just as though you held stock in the company
,Which of the following statements is a producer not permitted to say - CORRECT
ANSWERS✅✅"If my company fails to pay a claim, the Guarantee Association will pay"
In order to renew a producer's license in Rhode Island, continuing education credits are
required for each of the following EXCEPT: - CORRECT ANSWERS✅✅Residents holding
a license for 25 consecutive years and are under the age of 55 at time of renewal
An unemployed Medicare enrollee suffers 3 hospital admissions in the course of a year.
Which of the following health plans provides the BEST method of coverage for excess
hospital charges? - CORRECT ANSWERS✅✅Medicare Supplement
Advising a proposed insured that the required premium is lower than it actually would be,
given the current rate classification is an example of - CORRECT
ANSWERS✅✅Misrepresentation
In RI all Accident and Health insurance plans are required to provide coverage for the
services of properly licensed midwives in accordance with each of the following
requirements EXCEPT: - CORRECT ANSWERS✅✅At home birthing services are covered
The Director must give how many days notice prior to holding a hearing regarding a
producer's unfair or deceptive practice? - CORRECT ANSWERS✅✅10 days
Which of the following does the RI Life and Health Insurance Guaranty Association Act
apply to? - CORRECT ANSWERS✅✅Annuity Contracts
In RI the min. rate increase and/or decrease that an insurer may adjust for policy loan interest
rates per annum is - CORRECT ANSWERS✅✅.50%
In state of RI commissions may be paid to a non licensed individual if - CORRECT
ANSWERS✅✅The commissions were earned on a renewal premium and the individual held
the proper license at the time of the original sale
A producer making an unfair comparison of two insurance policies is considered to be
engaging in - CORRECT ANSWERS✅✅Misrepresentation
, RI requires that an insurance producer must complete _______ hours of continuing education
on the subject of ethics every 2 years - CORRECT ANSWERS✅✅3 hours
Essential Benefits without annual and lifetime limits are required on any health policy
purchased - CORRECT ANSWERS✅✅Through the Federal Marketplace
At what point does an insurer begin to owe interest on death proceeds payable to a life
insurance beneficiary - CORRECT ANSWERS✅✅Date of death
A Long Term care policy may exclude coverage for which of the following conditions -
CORRECT ANSWERS✅✅Mental or nervous disorders
Every HMO conducting business in the state of RI must provide all the following disclosures
to newly enrolled subscribers EXCEPT - CORRECT ANSWERS✅✅List of current
shareholders of the organization
A producer knowingly assists client in withholding material facts while taking in an Accident
and Health insurance application. His action may be considered which of the following: -
CORRECT ANSWERS✅✅Fraud
One definition of replacement is "the act of replacing an existing insurance policy with
another" Replacement is - CORRECT ANSWERS✅✅Closely regulated and requires full
disclosure
What is the earliest age a non disabled individual becomes eligible for Medicare Supplement
policy? - CORRECT ANSWERS✅✅65 years old
Annuity suitability regulations in RI require that a producer obtain each of the following
criteria EXCEPT: - CORRECT ANSWERS✅✅Sexual Orientation
When soliciting an Accident and Health insurance plan, a producer advises the applicant that
smoker a non smoker rates are the same. The producer's advice is an act of: - CORRECT
ANSWERS✅✅Misrepresentation
