The text is concise and to the point. Great investment and resource guide. This product synthesizes the information to make it more palatable and easier to digest. This product also assists with bench-marking. You can easily learn topics — go to a certain category that you need to be more familiar with and study it. This product is also great when paired with another book for more referencing.
I have learned so much from this study guide. It tells me what I need to know on the test. I took the test once already and I did not study this material completely, but I did notice that it had a lot of material that I needed to study from the guide.
I am now studying from the guide alone and I am so sure I will pass this time. No formal education or experience is required to become a licensed life and health insurance agent.
All that is required is a high school diploma or its equivalent. Are all Life and Health Insurance exams the same? Tests vary by state. What type of education do I need? What type of skills do I need?
Own occupation offers the most liberal definition of disability as the insured is considered to be totally disabled if he or she is unable to engage in the principal duties of his or her own occupation.
Although Social Security may provide disability benefits, in the majority of cases, these benefits are inadequate. Therefore, Social Security disability benefits should only be used to supplement an individual disability income policy.
Prev Next Finish. Quality starts with who wrote the material. Our practice exam writer s. She has held roles at several large insurance and investment companies. Noah Sobin is a licensed life insurance agent and insurance consultant who has worked as an agent for over ten years and as an insurance underwriter for five years. Our practice exam covers life and health insurance exam subject areas that are common across the country and is not specific to any one state but rather applicable to all states.
Bookmark Page. II only. III only. All are parties to a life insurance contract. Which of the following will have to meet an insurable interest requirement in order for a policy to issue? Insured's dependents. All of the above. Both a and b only. Jack and his wife Lyn just purchased a home with a year mortgage. Wanting to make sure that Lyn would be able to pay off the mortgage balance in the event of Jack's death, Jack had a "temporary" need for life insurance.
What type of policy should Jack purchase? Whole Life Insurance. Term Life Insurance. Variable Life Insurance. A Viatical Settlement. Which type of life insurance is considered to be more risky based on its investment component? Level Term Life Insurance. Decreasing Term Life Insurance. Life Insurance Application and Underwriting.
Life insurance underwriters look at a variety of factors when determining the acceptance of an applicant. These factors can include:.
Health history. Which of the following needs to have an insurable interest for an underwriter to issue an insurance policy? Which of the following deals with a set of relationships where one person is authorized to act on behalf of another in order to create a legal relationship with a third party. Law of principals. Law of agency. Law of third parties. None of the above. All of the following can be considered life-changing events that could result in a change in the amount of life insurance coverage needed EXCEPT: I.
Birth of a child II. Divorce III. Marriage IV. Change in job title. II and III only. I only. IV only. Corporate owned life insurance proceeds may be used for the following purposes: I. Which type of life insurance is considered to be more risky based on its investment component? Life insurance underwriters look at a variety of factors when determining the acceptance of an applicant.
These factors can include:. Which of the following needs to have an insurable interest for an underwriter to issue an insurance policy? Which of the following deals with a set of relationships where one person is authorized to act on behalf of another in order to create a legal relationship with a third party. A beneficiary on a life insurance policy will receive what value upon the death of the insured? Which of the following is a rider that allows a terminally ill person to access at least a portion of the death benefit proceeds prior to death?
The insured party has no part in determining the wording of an insurance contract. Every one of the 50 states expect you to be authorized so as to sell life and additionally wellbeing incapacity, mishap, infection protection arrangements. This necessity regularly stretches out to authoritative staff also, for example, Customer Service Representatives CSR , who talk about, make changes to, or generally oversee life and medical coverage arrangements. Which of the following cannot legally be sued when determining premium rates for life insurance?
Generally, it is unfair to discriminate against any one class of individuals in the business of insruance. However, the code does permit the charging of a higher premium if such premiums can be supported by mortality tables segregated by sex gender. Participating in a plan to offer free insurance if a person buys some form of service. Jerry is using a new time management technique in his insurance sales presentation. In order to cut the amount of time he spends at each appointment he now longer answers questions when they are frst aksed.
Instead he answers them only if htey are asked twice. He feels this will allowe him to get to his next meeting quicker. Most insurance professionals would consider this:. In the life insurance planning process, the "blackout period" is considered:. The period of time when a surviving spouse does not receive any social security benefits. All of the following are reasons for an individual to purchase personal life insurance, except:.
To help the employee's spouse supplement her Social security benefits. To protect the company from the financial consequence of the death of a vice president. Identify the staemnt that is true about contributory group life insurance. The employer will make a cash contribution to the estate of a deceased employee. Which of the following is true regarding the government's social insruance program known as Social Security?
Choose the payments from an insurance policy which are not subject to federal income taxes:. Any cash value received upon the surrender of a life insurance policy. Which of the following is false about dividends paid from life insurance policies?
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