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Life Insurance Exam Practice Questions and Answers |100% Pass
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Life Insurance Exam Practice Questions and Answers |100% Pass The Commissioner conducts an examination of a domestic insurer and believes that the costs of examination places an unreasonable financial burden on the insurer. Which of the following will happen? a. The federal government will abs...

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Document information

  • September 1, 2024
  • 49
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life insurance exam practice questions and answers

Written for

  • Life insurance
  • Life insurance

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SophiaBennett

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©SOPHIABENNETT
2024/2025 ACADEMIC YEAR




©SOPHIABENNETT 9/1/24 2024/2025

,Life Insurance Exam Practice Questions
and Answers |100% Pass
The Commissioner conducts an examination of a domestic insurer and believes that the

costs of examination places an unreasonable financial burden on the insurer. Which of

the following will happen?

a. The federal government will absorb the full cost

b. The federal government will absorb part of the cost, and the state government will

absorb the rest of the cost

c. The costs will be reduced to the amount that the examinee can reasonable pat; the

rest will be paid by the federal government

d. The Commissioner's office may pay all or part of the costs - Answer✔️✔️-d. The

Commissioner's office may pay all or part of the costs

Forcing a client to buy insurance from a particular lender as a condition of granting a

loan is defined as

a. Defamation

b. Coercion

c. Rebating

D. Misleading advertising - Answer✔️✔️-b. Coercion

An agent who includes a statement or omits a statement which, when taken in context

of the whole presentation, may tend to mislead or deceive the persons addressed has

committed

a. Twisting


Page 1 of 48

,b. Coercion

c. Misrepresentation

d. Defamation - Answer✔️✔️-c. Misrepresentation

If a consumer requests additional information concerning an investigative consumer

report, how long does the insurer or reporting agency have to comply?

a. 7 days

b. 10 days

c. 3 days

d. 5 days - Answer✔️✔️-d. 5 days

After the original hearing and a final order is issued, an aggrieved person may request a

re-hearing within

a. 30 days

b. 40 days

c. 15 days

d. 20 days - Answer✔️✔️-20 days

Which of the following is an example of a producer being involved in an unfair trade

practice of rebating?

a. Telling a client that his first premium will be waived if he purchases the insurance

policy today

b. Inducing the insured to drop a policy in favor of another one when it is not the

insured's best interest

c. Charging a client a higher premium for the same policy as another client in the same

insuring class


Page 2 of 48

, d. Making deceptive statements about a competitor - Answer✔️✔️-a. Telling a client that

his first premium will be waived if he purchases the insurance policy today

Which type of misrepresentation persuades an insured, to his or her detriment, to

cancel, lapse, or switch policies from one to another?

a. False advertising

b. Rebating

c. Twisting

d. Switching - Answer✔️✔️-c. Twisting

An insurer can refuse, cancel or deny insurance coverage to a class of risks based on

which of the following?

a. Moral character

b. Physical condition or developmental disability

c. Sexual preference

d. None of the above - Answer✔️✔️-d. None of the above

If a person does not comply with an order issued within 2 weeks after the Commissioner

has given notice, for each day that the violation continues, the Commissioner may issue

a fine of up to

a. $3,000

b. $5,000

c. $1,500

d. $2,000 - Answer✔️✔️-b. $5,000

Which of the following persons is NOT required to complete CE?

a. A property insurance intermediary with 40 years of continuous licensure

Page 3 of 48

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