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TN LIFE PRODUCER EXAM LATEST EXAM | ALL QUESTIONS AND CORRECT ANSWERS | GRADED A+ | JUST RELEASED
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TN LIFE PRODUCER EXAM LATEST EXAM | ALL QUESTIONS AND CORRECT ANSWERS | GRADED A+ | JUST RELEASED
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TN LIFE PRODUCER EXAM LATESTEXAM | ALL QUESTIONS AND
CORRECT ANSWERS | GRADED A+ |
JUST RELEASED
An employee of 20 years recently retired at age 59 1/2. This employee's
group life contract can be:
converted to an individual permanent policy at an individual rate
converted to an individual permanent policy at a group rate
continued at an individual rate
continued at a group rate ------CORRECT ANSWER---------------Converted
to an individual permanent policy at an individual rate
All of these statements regarding referrals are true EXCEPT
-The Commissioner may establish by rule a maximum amount for each
referral
-The person making the referral may not discuss the specific policy terms
and conditions
-Referral fees may not be tied to the purchase of a policy
-Referral fees must be filed and approved with the Commissioner of
Insurance ------CORRECT ANSWER---------------Referral fees must be filed
and approved with the Commissioner of Insurance
The Commissioner would like to hold a hearing against a producer. Before
the hearing is held, a notice:
-Must be sent by registered or certified mail to the producer's address on
file
-Must be sent to the insurer's home office
-Must be delivered in person
-Is not required ------CORRECT ANSWER---------------Must be sent by
registered or certified mail to the producer's address on file
,S is covered by a whole life policy. Which insurance product can cover his
children?
Assignment provision
Payor Benefit
Accelerated benefit rider
Child term rider ------CORRECT ANSWER---------------Child term rider
What is the purpose of a Policy Summary
It details the commissions earned by the agent
It guarantees a policy will be issued
It allows the consumer to compare the costs of different policies
It highlights the critical parts of the policy issued ------CORRECT ANSWER-
--------------It highlights the critical parts of the policy issued
P is the insured on a participating life policy. Which statement is true if P's
premiums are waived due to a disability?
-P cannot borrow against the policy's cash value when disabled
-P will have to pay income taxes on the amount of premiums waived
-P will still receiver declared dividends
-P cannot assign ownership of the policy while premiums are being waived
------CORRECT ANSWER---------------P will still receive declared divideneds
Which of the following Life insurance policies combine term insurance with
an investment element?
Increasing Term Life
Decreasing Term Life
Universal Life
Graded Life ------CORRECT ANSWER---------------Universal Life
, The Tennessee Guaranty Association is subject to review and regulation by
the Commissioner. A financial statement must be submitted no later than
_____ of each year.
January 3rd
February 13th
March 30th
April 30th ------CORRECT ANSWER---------------March 30th
Which of these is a valid Tennessee regulation for referral fees?
-Referral fees can be unlimited in amount
-If the referral sale involves replacement, the Notice Regarding
Replacement form is not required
-Referral fees may only be paid in the event a policy is purchased
-The Commissioner may establish by rule a maximum amount for each
referral ------CORRECT ANSWER---------------The Commissioner may
establish by rule a maximum amount for each referral
The amount of coverage on a group credit life policy is limited to:
Half of the insured's total loan value
The insured's total loan value
75% of the insured's total loan value
$25,000 ------CORRECT ANSWER---------------The insured's total loan
value
Which of the following information is NOT required to be included in a
Whole Life policy?
Policy's loan interest rate
Policy's guaranteed dividend table
Policy's premium
Policy's cash value table ------CORRECT ANSWER---------------The
Commissioner may establish by rule a maximum amount for each referral
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