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MN life insurance exam with correct answers.
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MN life insurance exam with correct answersIn nwhat ntype nof npolicy ndoes nthe nowner npay nthe nsame npremium nthroughout nthe nterm nof nthe ncontract?
n- ncorrect nanswer-Level npremium npolicy
Which ntype nof nbeneficiary nCANNOT nbe nchanged nwithout nconsent? n- ncorrect nanswer-The nbeneficiary nis
nirrevocable
How nmany ntotals nhours nof ncontinuing neducation ncovering nthe nsubjects nfor nwhich nthe nlicense nis
nlicensed nmust ncomplete? n- ncorrect nanswer-24 nhours
Accidental nand ndismemberment nwill npay nthe nprincipal nsum nof ndeath noccurs: n- ncorrect nanswer-As na
nresult nof nan naccident nregardless nof nwhen nthe naccident noccurs
The nfollowing nrefers nto nwhich ntype nof nclause? nIf nthe nproposed ninsured ndies nwhile nthe npolicy nis nin
nforced nthe ncompany nwill npay nthe ndeath nbenefit nto nthe nbeneficiary? n- ncorrect nanswer-An ninsuring
nclause
Under nMN nlaw, nif nan nemployee nis nlaid noff nfrom nemployment nand nis nno nlonger neligible nfor ngroup
ncoverage, nwhat ncan nthe nemployer's nlife ninsurance ncoverage? n- ncorrect nanswer-The nemployer nmust
ninform nthe ncompany nof nthe namount npayable nto ncontinue ncoverage nfor nup nto n18
Which nrider nlows nadditional ninsurance na na nspectred ndate nor nevent nwithou nevidence nofinsumbility? n-
ncorrect nanswer-Guaranteed nInsurability
Which nof nthe nexceptions nof na nvariable nannuity ncontract nif na nperson ncancelled nan ninsurance ncontract
nwithin nthe nfree nlook nperiod nis nwithout nliability nand nthe nperson nis nentitled na nrefund nof? n- ncorrect
nanswer-The npremium npaid nbut nnot nincluding nany ncontract nfees nor nother ncharges nrelated nto nthe
ncontract
The nDepartment nof nCommerce nmust nbe ngiven na nminimum nof nhow nmany ndays nadvance nnotice nof
ndisciplinary? n- ncorrect nanswer-10 ndays
, The nproposed ninsured's nstatement non nthe napplication nand nthe nfirst npremium npayment nare npart nof nthe
npolicy? n- ncorrect nanswer-Consideration nClause
A ntemporary nproducer nlicense ncan nbe nissued nin nany nof nthe nfollowing nEXCEPT n- ncorrect nanswer-A
nprospective nproducer nwho nis nenrolled nin nan ninsurance npre-licensed nclass
Which nof nthe nfollowing nwould nbe nprohibited nadvertising? n- ncorrect nanswer-Advertising nthat nuses nthe
nMN nLife nand nHealth nInsurance nGuaranty nAssociation
A nproposed ninsured nwhose nlikelihood nof nloss nis nsignificantly nless nthan nthe naverage nis nclassified nas: n-
ncorrect nanswer-Preferred nrisk
Once na npolicy nhas nbeen nreinstated nthe ninsured nmust nwait nwhat namount nof ntime nbefore ncoverage nfor
nsickne: nis navailable? n- ncorrect nanswer-10 ndays
Blood ntests nto ndetect nthe npresence nof nHuman nImmunodeficiency nVirus n(HIV) nare nbecoming
ncommonplace nlaws nthat nhave nbeen nallowing ncompanies nto: n- ncorrect nanswer-Shares nthe npositive nHIV
ninformation nwith nother ncompanies
What nis nthe npurpose nof nthe nconversion nprivilege nin na ngroup nlife ninsurance npolicy? n- ncorrect nanswer-
Gives nthe nemployee nthe nright nto nconvert ntheir ngroup ncoverage nto nan nindividual npolicy nwithout nproof
nof ninsurability nupon ntheir ntermination
The nact nof ninducing na nperson nto nterminate nan nexisting npolicy nand npurchase na nnew npolicy nis: n- ncorrect
nanswer-Twisting
All nof nthe nfollowing nare nexamples nof nthird nparty nownership nEXCEPT: n- ncorrect nanswer-Primary
nBeneficiary
When nan nindividual nreplaces na nlife ninsurance npolicy, nwho ninitials nthe nreplacement nof nthe nlife ninsurance
npolicy nform? n- ncorrect nanswer-Both nthe napplicant nand nthe ninsurance nproducer
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