CT LIFE & HEALTH INSURANCE EXAM-with 100% verified solutions 2024-2025-tutor verified, Exams of Nursing

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CT LIFE & HEALTH INSURANCE EXAM-with 100%

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Laura added a children's rider to her life insurance policy. What type of coverage was added?

• ANSWER Level term With life insurance, the needs approach is used primarily in determining - ANSWER How much life insurance a client should apply for A(n) is a licensee who charges a fee for contracted insurance advisory services.
• ANSWER Consultant Jonas is covered with disability insurance through his employer. The employer pays 75% of the premium, while Jonas pays the other 25%. What is Jonas' tax liability for any benefits paid from the disability plan? - ANSWER Taxes must be paid on 75% of the benefits received The Commissioner is empowered to perform each of the following acts EXCEPT - ANSWER Makes rules that are consistent with those of neighboring states (Monitor insurer solvency, make rules and regulations that are consistent with the laws of CT, monitor insurer premium rates) How are the premiums for an individually-owned disability income policy treated for tax purposes? - ANSWER Not tax-deductible at all Scott has a life insurance policy in which the dividends are left with the insurance company. This particular policy may be paid up when the cash value plus accumulated dividends - ANSWEREqual the net single premium for the same face amount at the insured's attained age Which of these is NOT a standard provision in qualified long-term care policies sold in Connecticut? - ANSWER Prior hospitalization (30-day free look period, guaranteed renewability, provide minimum coverage for 12 consecutive months) Accident and health insurance claim handling is made more convenient to the insured by utilizing - ANSWER Assignment of benefits Specialty care is provided by which of the following health maintenance organization (HMO) providers? - ANSWER Neurologist Which of the following facilitates nonresident licensing in the state of Connecticut? -

ANSWER Reciprocity agreement

To secure authority for soliciting insurance products in the State of Connecticut, an insurance company must secure a certificate of authority from - ANSWER The Connecticut Insurance Commissioner A group health certificate for coverage issued in Connecticut MUST contain a(n) - ANSWER Summary of policy features and benefits Any employee insured under a group life insurance plan is normally - ANSWER Covered with term life insurance Which statement regarding whole life insurance is accurate? - ANSWER Insurance coverage can continue for life All of these are considered to be a violation of the Federal Fraud and False Statements Act EXCEPT - ANSWER Claims reimbursement (Overvaluing land, abstracting funds, false entries on reports) A comprehensive major medical health insurance policy contains an Eligible Expenses provision which identifies the types of health care services that are covered. All of the following health care services are typically covered EXCEPT for - ANSWER Experimental and investigative services (Hospital charges, physician fees, nursing services) An employee welfare plan exempt from ERISA regulations would be - ANSWER Church plans Medicare Part B excess charges are covered by - ANSWER Medicare Supplemental insurance A major medical expense policy typically does NOT - ANSWER Pay surgeon fees on a first-dollar basis (Contain a deductible, have a high limit of coverage, contain a coinsurance provision) Mary has a Health Savings Account (HSA). Distributions that she has made for anything other than qualified medical expenses are considered taxable and subject to a penalty of - ANSWER 20% Under an adjustable life insurance policy, which of the following may NOT be changed without further underwriting? - ANSWER The person insured (The period of coverage, the payment period, the plan of coverage) When a producer acts within the scope of his/her contractual authority, which of the following is legally responsible for these actions? - ANSWER The insurer

An accident and health insurer has just received written proof of loss from one of its insureds. The insured must now wait 60 days before - ANSWER Bringing legal action against the insurer During the sale of a life insurance policy, a producer may provide an incomplete illustration

• ANSWER Never Taking a sum of money and decreasing it in size is called - ANSWER Capital liquidation In Connecticut, continuing education courses must be approved by the - ANSWER Commissioner In regards to the Affordable Care Act (ACA), which of these is NOT a role of a health insurance exchange? - ANSWER Contact the employer if an employee stops coverage under a plan offered in the exchange (Offer individual, unique formats for consumers to evaluate different health plan options, certify that a health plan is qualified to be offered on the exchange, resolve and verify an applicant's inconsistent or incomplete information) What type of risk involves the potential for loss AND the possibility for gain? - ANSWER Speculative How long does one premium payment cover a single premium whole life policy? - ANSWER Full life of the policy Mentally or physically handicapped dependent children MUST be covered under an individual health insurance policy - ANSWER Until they become self-supporting Respite Care coverage is typically found in a(n) - ANSWER Long Term Care policy What happens to the cash value of a market value adjusted annuity if it's surrendered prior to the end of the stated guarantee period? - ANSWER Subject to market value adjustment 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 Which of the following is NOT covered by a comprehensive long-term care policy? - ANSWER Acute care (Custodial care, PT, skilled nursing care) Which of the following statements accurately describes the "time limit on certain defenses"?
• ANSWER After a stated period of time, claims cannot be denied due to material

misrepresentation on the application Rick owns a variable universal life policy and chooses a variable death death benefit option. What will typically happen to the death benefit as a result of this selection? - ANSWER Fluctuate with changes in the cash account Why does Connecticut require insurers to maintain a minimum level of assets? - ANSWER To demonstrate insurer solvency Wyatt is shopping for life insurance and is mainly concerned with the policy's death benefit. Which index should he be looking at when making comparisons? - ANSWER Net payment cost index How are qualified Roth IRA distributions normally treated for tax purposes? - ANSWER Received income tax free For purposes of disability income insurance, earned income would include all of the following EXCEPT - ANSWER Dividends (Salary, commissions, bonus) Life settlement proceeds may be subject to the claims of - ANSWER Creditors An annuity contract may be returned for a full refund during the - ANSWER Free look period Which of the following describes the act of insuring a risk against possible loss? - ANSWER Risk transfer Which of these is a type of private insurance that covers the cost-sharing amounts under Medicare? - ANSWER Medicare Supplement

Tim is covered by an accident and health insurance policy that may not be changed in any way by the insurer up to a stated age, as long as the premiums are paid. What type of policy is this? - ANSWER Noncancelable In an individual retirement account (IRA), rollover contributions are - ANSWER Unlimited by dollar amount 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 What is the tax treatment of benefit payments for a non-qualified annuity? - ANSWER Benefit payments are always taxable An applicant submits a life insurance application where an investigative consumer report is used in the underwriting process. Which of these statements is true? - ANSWER Applicant has a right to receive a copy of the report Which of these is NOT an advantage of term life insurance? - ANSWER A cash benefit will be provided if the insured is alive at the end of the policy period (The greatest amount of coverage can be provided for the initial premium paid, it can be provided as a rider to another policy, temporary insurance needs can be met) When does a family health policy's coverage for a newborn child begin? - ANSWER At the moment of birth A life insurance producer's underwriting duties may include - ANSWER Seeking additional

information requested by the insurance company Tim is in need of surgery, Before being hospitalized, he is referred to an outpatient clinic for diagnostic tests. What is this an example of? - ANSWER Pre-admission testing Which of the following is an example of defamation? - ANSWER A producer who publicly and erroneously announces that an insurance company is insolvent Who typically makes the purchase payments in an individual annuity? - ANSWER Owner Which individual would be best suited for Medicare Supplement insurance? - ANSWER Medicare enrollee The interest credited to the cash values of personally-owned non-qualified annuities is considered - ANSWER Tax-exempt Which of the following does NOT involve a life settlement transaction? - ANSWER Converting term life coverage to whole life insurance (Inducing life settlement contracts, monitoring life settlement contracts, securing life settlement contracts) How is the insured protected if a payor benefit rider is attached to the life insurance policy?

• ANSWER Premium payments are waived in the event the premium payor dies or becomes disabled Darrell has a group long-term disability income policy paid by his employer. Which of these statements is true? - ANSWER The specified benefit amount is a percentage of his wages

What is the name of the period of time during which a new employee is ineligible for group health insurance coverage? - ANSWER Probationary period Statements made by an insured on an accident and health insurance application are considered to be - ANSWER Representations If one producer provides a referral to another producer which results in the sale of an insurance contract, who will likely be paid a commission? - ANSWER The commission will likely be shared between the two producers These are all accurate statements regarding universal life insurance EXECPT - ANSWER Policy loans are not permitted (Mortality charge is deducted from the policy's cash value each month, flexible premiums as long as the cost of insurance protection is covered, policy states what percentage of the premium is contributed to the cash value and which pays for the cost of insurance) When a deferred annuity is surrendered, who must sign the authorization to do so? - ANSWER Owner The has the ability to examine the records of authorized insurers because of the powers granted through state statutes. - ANSWER Commissioners The main role of accident and health and disability insurance is to - ANSWER Protect against medical care costs and the loss of earning power All of these are used to prevent adverse selection in a group dental plan EXCEPT - ANSWER Decreased employee participation

(Provide evidence of insurability, probationary periods, waiting periods) A consumer who has been recently denied insurance, credit, or employment based on an unfavorable consumer report MUST be advised as such. Which of the following does this statute originate from? - ANSWER Fair Credit Reporting Act In long-term care insurance, what is the length of time for which claims will be paid?

• ANSWER Benefit period The insured's consideration given for a health insurance policy is - ANSWER The first premium payment and the application An agent gives a conditional receipt to a client for an insurance policy after collecting the initial premium. When will the policy become effective? - ANSWER When the conditions of the receipt are met Which of the following statements BEST describes a double indemnity provision in travel accident insurance? - ANSWER Benefits are doubled under certain circumstances stated in the policy Individuals covered with employer-paid group health plans will normally receive tax- free benefits under all of these plans EXCEPT - ANSWER Disability income (HMO, vision, major medical) The free look period provided in a life insurance policy is usually - ANSWER 10 days

Which reinsurance contract between two insurers involves an automatic sharing of the risk assumed? - ANSWER Treaty reinsurance Which of the following would be considered a violation of Connecticut insurance law?

• ANSWER Failure to remit premium in a timely manner Which of the following statements is NOT true concerning the relationship between group health insurance plans and Medicare? (assuming the business has more than 20 employees) - ANSWER Group health coverage is NOT available for workers over the age of 65 (Group health coverage is available for workers over the age of 65, An active employee's group health plan is primary and Medicare is secondary, unless the employee chooses otherwise, Group health coverage is available to an employee's spouse that also happens to be Medicare-eligible) At what point must a producer give notification to the Commissioner about using an assumed name? - ANSWER Prior to using the assumed name A comprehensive group policy also covers expenses related to vision care. Which of the following is not typically covered under a vision plan? - ANSWER Cataract surgery (Routine eye exam, corrective vision glasses, corrective contact lenses) What is considered a valid reason for small corporations to insure the lives of its major stockholders? - ANSWER Fund a buy-sell agreement Which of these is NOT a common life insurance nonforfeiture option? - ANSWER Life income annuity

(Reduced paid-up insurance, extended term option, cash surrender option) After the extended term life nonforfeiture option is chosen, the available insurance will be

• ANSWER Level term for a stated period of time What type of doctor-ordered care assists an individual with performing basic daily activities such as bathing. dressing, and eating? - ANSWER Custodial care A prepaid dental plan has an agreement in place with a network of dentists which - ANSWER Accepts an established amount as payment in full for the dental services rendered A group health plan covers employees in CT, MA, and RI. The state regulatory jurisdiction established for this plan does NOT affect which plan aspect? - ANSWER COBRA continuation of coverage (Required contract provisions, qualifications for eligibility, minimum enrollment percentages) The initial premium for a life insurance policy is typically paid in what way? - ANSWER It is typically obtained by the producer and forwarded to the insurer Which of the following would NOT be appropriate for an immediate annuity? - ANSWER A parent saving for a child's college (A lottery winner who opted for a lump-sum payment, a beneficiary collecting the face amount of a life insurance policy, someone who just won a large settlement) Why might it be beneficial for an employee to purchase private disability income insurance for workplace injuries when he/she is already covered by worker's compensation? - ANSWER

The benefit arising from a worker's compensation claim could be inadequate to replace the loss of income The reason for backdating a policy is - ANSWER To obtain a premium rate based on an earlier age The standard provisions of an accident and health insurance policy require that the - ANSWER Policy, endorsements, and attached papers constitute the "entire contract" What is the Pap test designed to detect? - ANSWER Cervical cancer What effect can a long-term care benefit rider have on a life insurance policy? - ANSWER Reduced death benefit What kind of arrangement gives the policyowner the right to change the beneficiary?

• ANSWER Revocable designation When must insurable interest exist for a life insurance contract to be valid? - ANSWER Inception of the contract Laura has an employer-based preventative health care plan that focuses in an enrollee's problems, such as drug abuse or stress. These plans are called - ANSWER Wellness programs Which of these would NOT likely qualify as a presumptive disability? - ANSWER Loss of sight in one eye (Loss of both hands, loss of hearing, loss of speech)

Which of the following situations would qualify an insured to receive funds from an accelerated (living) benefit rider? - ANSWER Insured is expected to remain in a nursing home for life Which of the following causes of disability is NOT covered under CT workers compensation laws? - ANSWER Intentional, self-inflicted injuries that occur at the worksite (Falling down on the job, illness caused by job conditions, strokes that occur on the job) Mike applied for life insurance and was issued a conditional receipt. He is later found to be insurable and is issued a policy. When does his coverage become effective? - ANSWER Date of issuance of the conditional receipt What type of premiums are associated with individual mortgage protection life insurance policies? - ANSWER Level premiums Long-term care policies sold in CT may NOT exclude coverage for - ANSWER Senile dementia A policyowner fell behind on the premium payments of a whole life policy and is now in the grace period. How much will the beneficiary receive if the insured dies during this grace period and the policy also contains an outstanding policy loan? - ANSWER Face amount minus the loan balance and past-due premium A medical fee schedule shows the amount an insurer will pay for a given procedure. This amount is considered to be the - ANSWER Highest amount payable Which of these statements reflects an accurate portrayal of Medicare SELECT? - ANSWER Insured uses preferred providers in exchange for paying lower premiums

A(n) insurer operates in the United States but is headquartered outside the United States. - ANSWER Alien Which of these is NOT relevant when determining the amount of personal life insurance needed? - ANSWER Local unemployment rates (Existing life insurance coverage, household income, household debt) Prepaid dental plans differ from most other types of dental plans in what way? - ANSWER Closed panel of dentists can only be used A characteristic of preferred provider organizations (PPO) is - ANSWER If service is obtained outside the PPO, benefits are reduced and costs increase Skilled nursing facility expenses are sometimes covered by , but ONLY if the insured was hospitalized prior to entering the facility. - ANSWER Medicare Medicare will cover a maximum of how many days per benefit period in a skilled nursing facility? - ANSWER 100 days Custodial care is normally covered under - ANSWER Long-term care insurance Which of the following must be clearly illustrated in ALL sales material for market value adjusted annuities? - ANSWER The market value adjustment can be either upward or downward Dividends from a stock insurance company are normally sent to - ANSWER Shareholders

Beginning January 1, 2014, the restricted annual limit for plans under the Affordable Care Act will be - ANSWER No limit 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 At what point are death proceeds paid in a joint life insurance policy? - ANSWER When the first insured dies To be classified as a small employer in CT, an employer must employ how many eligible employees? - ANSWER 1 to 50 Which of the following is NOT the responsibility of an insurer? - ANSWER Assuming liability for a producer's unauthorized acts (Notifying the Commissioner of the termination of a producer's appointment, providing sales materials to its appointed producers, obtaining a Certificate of Authority prior to conducting insurance business in this state) Who is normally considered to be the owner of a 403(b) tax-sheltered annuity? - ANSWER The participating employee When evaluating an insurer's financial status, the Commissioner may consider each of the following EXECPT - ANSWER Comparing an insurer's agency agreements to determine maximum-paid commissions (Comparing the premiums received with the surplus for each year, underwriting profits, monitoring general account investments)

The maximum prison sentence given under federal law for unfair and deceptive insurance practices is - ANSWER 15 years Mike recently lost sight in both eyes. He has a policy that pays a lump sum benefit for this injury. What type of insurance does Mike have? - ANSWER Accidental death and dismemberment An individual participant personally received eligible rollover funds from a profit-sharing plan. What is the income tax withholding requirements for this transaction? - ANSWER 20% is withheld for income taxes What must be given to a life insurance applicant when the agent receives an application and the initial premium? - ANSWER Conditional receipt In a disability buy-sell agreement, the policies funding the agreement are owned by the

• ANSWER Business entity Which life insurance clause prohibits an insurance company from questioning the validity of the contract after a stated period of time has passed? - ANSWER Incontestable clause Which statement regarding the certificate of insurance is accurate? - ANSWER It indicates evidence of an employee's insurance coverage Qualified long-term care premiums are treated for tax purposes as - ANSWER Tax-deductible to the extent they exceed 7 1/2% AGI In order to contribute to a Health Savings Account (HSA), - ANSWER the applicant must be enrolled in a High Deductible Health Plan (HDHP)

A handicapped child is covered under an individual health policy. If continuation of coverage 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 certificate of coverage for a group health policy is best described as - ANSWER Proof of coverage for the employee A life settlement negotiates a life settlement between a policyowner and a life settlement provider. - ANSWER Broker ABC Company is attempting to minimize the severity of potential losses within its company. The company is engaged in risk - ANSWER Reduction When a ceding insurer transfers a portion of its risk to an assuming insurer on a case by case basis, this process is referred to as - ANSWER Facultative reinsurance John has a criminal record in which he was convicted of a felony that involved dishonesty. Under Federal law, how would John be able to engage in insurance transactions? - ANSWER Given written consent by the state insurance regulatory agency Which of the following is generally a form of group credit life insurance? - ANSWER Decreasing term insurance Which of the following is NOT a valid reason for an insurer to contest a life insurance policy during the policy's first two years of existance? - ANSWER Misstatement of age (Fraud, material representation, material concealment)

Which of the following actions may result in a producer's license being suspended by the Commissioner? - ANSWER Rebating part of a commission to the applicant In CT, false advertising is an example of - ANSWER Misrepresentation Which type of life insurance policy allows a policyowner the choice of investments along with flexible premium payments? - ANSWER Variable universal life How do benefit payments fluctuate over time in a variable life annuity? - ANSWER Reflects changes in the market value of assets in a separate account Someone who is licensed to negotiate a life settlement contract is called a(n) - ANSWER Life settlement broker Which of the following is true regarding a person receiving a waiver of premium benefit? - ANSWER The insured must be disabled for a period of time (The insured must expect a total recovery within 2 years, the insured will not qualify for short-term disability, the insured will not qualify for workers compensation) Which of these is NOT a factor that influences group health insurance underwriting? - ANSWER Physical exams of group members (Number of individuals in the group, group's claims experience, type of occupation group is involved in) Non-occupational disability coverage is designed for - ANSWER Employees who suffer

non-work related disabilities are covered by Workers' Compensation What happens when a policyowner borrows against the cash value of his life insurance policy?

• ANSWER The policy proceeds would be reduced by the outstanding loan balance What effect does interest income have upon insurance premiums? - ANSWER Decreases premium Which of these is a true statement regarding survivor benefits under a qualified retirement plan? - ANSWER Survivor benefits can only be waived with the written consent of a married employee's spouse 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 If a life insurance applicant is shown future premiums are to be paid out of non- guaranteed values, the illustration used in the sales presentation MUST - ANSWER Disclose that premium payments may need to be resumed depending on actual results Peter, age 50, surrenders his modified endowment contract (MEC). How is the gain treated in terms of federal income taxes? - ANSWER The gain is treated as taxable income and a penalty tax is imposed on the gain For employees covered in multiple states under a group health plan, jurisdiction rules cannot alter - ANSWER COBRA laws In what situation could an insurance policy's coverage be modified? - ANSWER Applicant is a substandard risk

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 Who is protected with the "other insurance with this insurer" provision? - ANSWER Insurance company Which statement regarding universal life insurance is correct? - ANSWER Cash value accumulations have a guaranteed minimum interest rate The is responsible for reporting the Commissioner any name or address change of the licensee. - ANSWER Licensee James the producer has sold a life insurance contract to a client without using an illustration, even though his insurer offers one. For this particular transaction, the applicant - ANSWER Must sign a statement that no illustration was provided Jerome is covered by a disability income policy that does NOT provide benefits for losses occurring as the result of his employment. What kind of coverage is this? - ANSWER Nonoccupational coverage Contributions made by an employee to a qualified retirement plan are required to be

• ANSWER Subject to a vesting schedule John received a one-time distribution of $50,000 from his modified endowment contract (MEC). Prior to that, the contract's cash value was $150,000, the contract investment amount was $100,000, and the death benefit was $500,000. What percentage of the $50,000 distribution was taxable as ordinary income? - ANSWER 100% A licensee whose name or address changes must notify the Commissioner within

days. - ANSWER 30 After a life insurance policy has been in force for year(s), it becomes incontestable.

• ANSWER 2 Which of these is NOT considered the responsibility of a producer during the underwriting process? - ANSWER Selecting the final approval date (Collecting additional medical information if needed, promptly sending the completed application to the insurance company, forwarding any material personal observations to the insurer) When must a producer provide disclosure about information practices to an applicant?
• ANSWER Prior to or at the time of signing the application In CT, a producer cannot use his/her license for primarily writing controlled business. In order to conform to this requirement, annual premiums collected on controlled business cannot exceed of total premiums. - ANSWER 10% Where is the difference between a standard risk and a substandard risk reflected? - ANSWER Premium charges Andy is in need of health care performed by skilled medical practitioners, but only on an intermittent basis. What level of care will his doctor likely prescribe? - ANSWER Intermediate care How is a community rating used for underwriting purposes? - ANSWER The same rates are charged for individual and group plans in the same risk category

Interest is credited to a fixed annuity no lower than the - ANSWER Contract guaranteed rate First-time homebuyers are able to withdraw up to how much from their qualified IRAs without incurring the 10% early withdrawal penalty? - ANSWER $10,000 Jerry has an indemnity plan which covers dental expenses. Typically, these type of plans

• ANSWER Cover preventative care once every six months After conducting a hearing, the Commissioner is empowered to issue a cease and desist order. A violation of such an order is punishable by a monetary fine not to exceed - ANSWER $50,000 A producer is holding a meeting with a potential client about replacing an existing group health insurance policy. The topic that should be included in the conversation is - ANSWER A comparison of benefits between the current and proposed plans What kind of life policy typically offers mortgage protection? - ANSWER Decreasing term Which of these factors does NOT influence an individual's need for life insurance? - ANSWER Self-maintenance expenses (Lifestyle of the applicant, number of dependents, future educational costs of the dependents) When issuing disability income coverage on a substandard risk, an insurance company may
• ANSWER Shorten the benefit period Bert's spouse passed away recently. Bert was covered under his spouse's group family health

insurance plan but now is covered under COBRA. How much of the active-employee cost may be passed on to Bert for continued coverage? - ANSWER Maximum of 102% Which event triggers a deferred annuity to start making benefit payments to the annuitant?

• ANSWER When the contract is annuitized How long is individual medical expense insurance normally written for? - ANSWER 1 year Dividends from a mutual insurance company are paid to whom? - ANSWER Policyholders Terry receives long-term physical therapy at her residence. What type of insurance would cover this service? - ANSWER Home health care Purchasing insurance is an example of risk - ANSWER Transference Which of the following does NOT help determine group health insurance premiums? - ANSWER Income level of group members (Average age of group, claims experience of the group, the group's size) Which tax cost is normally associated with death? - ANSWER Federal estate tax Some standard Medicare Supplement policies include which benefit? - ANSWER Hospice care An officer for a corporation takes out numerous unsecured loans from the company's qualified retirement plan. Which of these rules is the plan in violation of? - ANSWER

Exclusive benefit rule Kate received a group accident and health termination notice. How many days does she have to apply for a converted policy? - ANSWER 31 A(n) insurer is incorporated and formed in CT. - ANSWER Domestic All parts of the Medicare program (except for public information and enrollment) are administered by which federal agency? - ANSWER The Centers for Medicare and Medicaid Services A life insurance company just paid a $100,000 death benefit to a beneficiary. When the insured died, the cash value was $15,000 and the total premiums-paid equaled $10,000. How much of the proceeds will be added to the beneficiary's gross income for federal income tax purposes? - ANSWER Nothing An agent whose actions exceed the authority granted by contract is - ANSWER Not backed by the insurer Disability income insurance normally excludes coverage for disabilities that arise from

• ANSWER Active military duty A producer must complete credit hours of continuing education for each licensing period. - ANSWER 24 A signed good health statement may be requested by a life producer at the time of - ANSWER Policy delivery

Insurance producer Kelly offers insured a $500 shopping card if they purchase an insurance product through her. What is this an example of? - ANSWER Rebating, which is an unfair trade practice Nonqualified medical expense distributions from a Health Savings Account (HSA) have a tax penalty of - ANSWER 20% Which of these must be disclosed in a universal life policy? - ANSWER The policy's surrender charges An insured covered under a Disability Income policy is disabled and collecting benefits for a period of two months. He returns to work and is again disabled from the same cause, whereupon benefits continue to be paid. This is an example of which of the following? - ANSWER Recurrent disability Which of these factors does NOT affect life insurance premium rates? - ANSWER Producer Certification (Expense factor, interest factor, mortality factor) Producers licensed in CT must notify the Insurance Department within days of any change of name or address. - ANSWER 30 Which of these policies is considered a whole life policy? - ANSWER Single premium life (Credit life, renewable life, convertible life) Medical costs in birthing centers are lowered by using - ANSWER Certified nurse midwives