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LIFE PRODUCER GAURANTY EXAM NEWEST 2024 ACTUAL EXAM COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW VERSION!!$28.49
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LIFE PRODUCER GAURANTY EXAM
NEWEST 2024 ACTUAL EXAM COMPLETE
100 QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+||BRAND NEW
VERSION!!
Which of the following riders pays a beneficiary a death benefit
that is double or triple the face amount if the insured's death was
caused by an accident as defined in the policy? - ANSWER- An
accidental rider
If a company that issues variable contracts is a subsidiary of
another life insurance company already authorized to do variable
business, - ANSWER- -The company is automatically
authorized to do variable business
What can happen if a person who has been served a subpoena
refuses to testify in an insurance case? - ANSWER- The
individual can be found in contempt of court
,2|Page
A producer licensed in only one group of insurance (such as life
or accident and health or sickness) is required to complete 24
hours of continuing education every licensing period. Out of
those hours, how many must be in the area of the insurance laws
and rules? - ANSWER- 3
According to the life insurance replacement regulations, which
of the following would be an example of policy replacement? -
ANSWER- policy is reissued with a reduction in cash value.
Which of the following reduces opportunity for
misrepresentation, protects the interests of the policyholders by
establishing minimum standards, and establishes penalties for
failure to comply with requirements? - ANSWER-
Replacement—
Replacement rules reduce opportunity for misrepresentation,
protect the interests of the policyholders by establishing
minimum standards, and establish penalties for failure to comply
with requirements
All the following are true regarding qualifications for licensing
in Hawaii EXCEPT - ANSWER- The applicant can apply if he
or she has been convicted of a felony
, 3|Page
all of the following are true of credit life EXCEPT - ANSWER-
The insured names the beneficiary
Guaranteeing future dividends is considered to be an unfair or
deceptive act known as - ANSWER- Misrepresentation
During policy solicitation, an insurer exaggerates the financial
condition of one of its competitors, and makes it sounds worse
than it is. This is an example of an unfair trade practice of -
ANSWER- Defamation
Which of the following is NOT a duty of the existing insurer
when replacement is involved? - ANSWER- Provide notice to
the policy owner the right to return the policy within 30 days of
delivery and receive a full refund
An insurer decided to terminate a producer. The insurer just
notified the Commissioner of this decision. How long does the
insurer have to mail a copy of the notification to the producer? -
ANSWER- 15 days
All of the expenses of an examination must be paid for by the
insurer being examined. To which fund are payments remitted -
ANSWER- Insurance regulation fund
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