Exam (elaborations)
CT Life and Health State Exam Simulator
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CT Life and Health State Exam Simulator
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CT Life and Health State Exam SimulatorA consultant derives their income from which source? - ANSWER-Clients
A handicapped child is covered under an individual health policy. If continuation is
needed beyond the policy's age limit, which of the following is required? - ANSWER-
Proof of incapacity and dependency upon reaching the age limit.
A Keogh plan is a (n) - ANSWER-qualified retirement plan for the self employed
A licensee whose name or address changes must notify the Commissioner
within_____days - ANSWER-30
A life annuity feature which provides benefit payments for a minimum number of years,
no matter when the annuitant dies, is called - ANSWER-period certain
A life insurance applicant is tested for the Human Immunodeficiency Virus (HIV) . The
applicant MUST be informed that the testing - ANSWER-Helps determine the
insurability of the applicant
A life insurance beneficiary died after receiving only six payments under the policy's life
income settlement option. What happens with the remaining balance of the death
proceeds? - ANSWER-Kept by the insurance company
A life insurance policyowner would like a dividend option that results in a limited current
outlay of funds. Which dividend option would be chosen? - ANSWER-Reduction of
premium payment
A life insurance producer is required to give a disclosure notice about information
practices to an applicant or proposed insured - ANSWER-Prior to or at the time of
signing the application
A life insurance producer's underwriting duties may include - ANSWER-Seeking
additional information
A life settlement____________ negotiates a life settlement between a policyowner and
a life settlement provider. - ANSWER-Broker
A policyowner pays the first annual premium for a $50,000 life insurance policy and dies
one month after the policy effective date. Which of these statements is normally true? -
ANSWER-Beneficiary receives $50,000 income-tax free
A pre-existing condition exclusion in an accident and health insurance policy pertains to
- ANSWER-Prior health matters
, A producer has indicated to a potential client that the proposed life insurance is covered
by the Connecticut Life and Health Insurance Guaranty Association. This action taken
by the producer is - ANSWER-Prohibited by Law
A producer is meeting with a client to determine whether an annuity will be suitable for
purchase. Which of the following topics needs to be discussed with the client ? -
ANSWER-Financial status of the client
A producer must complete_____credit hours of continuing education for each licensing
period. - ANSWER-24
A producer MUST notify the Commissioner for - ANSWER-Conducting business under
an assumed name
A producer's failure to provide title and true nature of a policy upon solicitation is an
example of - ANSWER-Misrepresentation
A prospective client was intimidated by a producer to purchase an insurance contract.
The producer could be found guilty of - ANSWER-coercion
A television advertisement features a health insurance product that is endorsed by a
specific group. In this advertisement - ANSWER-Any control by the insurer over this
group must be disclosed
A(n) _______________ producer lives in another state and transacts insurance from
Connecticut. - ANSWER-Nonresident
A(n)__________________insurer writes business in a state other than the one in which
it is domiciled - ANSWER-Foreign
A(n)______________insurer is incorporated and formed in Connecticut - ANSWER-
domestic
A(n)______________is a licensee who charges a fee for contracted insurance advisory
services - ANSWER-Consultant
ABC Partnership is a business with a limited number of partners. Which disability buy-
sell agreement is best suited for this business? - ANSWER-Cross purchase agreement
According to federal fraud and false statements regulation, what is required for a
prohibited person to transact insurance business in this state ? - ANSWER-Written
consent from the state insurance regulatory agency
According to HIPPA regulations, which of the following may reduce a medical plan's
pre-existing conditions exclusion? - ANSWER-Any period of prior coverage
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