Exam (elaborations)
PA Life Insurance License Exam Practice Questions and Answers (100% Pass)
- Course
- Institution
PA Life Insurance License Exam Practice Questions and Answers (100% Pass)
[Show more]
Content preview
©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AMPA Life Insurance License Exam Practice
Questions and Answers (100% Pass)
an immediate annuity has been purchased with a single premium. when does the
annuitant typically begin receiving benefit payments? - ✔️✔️1 month
An insurer will accept a premium from the insured and continue the coverage in full
force as though it was NOT late during which time period?
Incontestable period
Probation period
Reinstatement period
Grace period - ✔️✔️Grace period
The grace period is the amount of time an insurer continues coverage in full force and
will accept the premium from the insured as though it was NOT late.
1
, ©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Wednesday, July 31, 2024 9:10 AM
A little insurance producer licensed in the commonwealth of PA is authorized to -
✔️✔️Solicit, Receive and forward applications to insurers
Upon policy delivery, which of the following must a producer have an applicant sign if no
initial premium was collected with the life insurance application? - ✔️✔️A good health
statement
Which contract element is insurable interest a component of? - ✔️✔️legal purpose
All of these are common exclusions to a life insurance policy EXCEPT - ✔️✔️accidental
death
An insurer's ability to make unpredictable payouts to policyowners is called - ✔️✔️liquidity
A policy owner may exercise which of these dividend options that uses the dividend to
pay all or part of the next premium due - ✔️✔️Reduction of Premium Dividend Option
when collecting insurance premiums from a client, a producer must - ✔️✔️forward
premiums to the insurer on a timely basis
Jonas is a whole life insurance policyowner and would like to add coverage for his two
children. Which of the following products would allow him to accomplish this? - ✔️✔️Child
term rider
Shirley has a $500,000 10-year non-renewable level term life policy. If she dies 15
years after the policy's inception date, how much will her beneficiary receive? -
✔️✔️nothing
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller OliviaWest. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now