Pa life insurance exam - Study guides, Class notes & Summaries

PA LIFE INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS

Which dividend option would an insurer invest the policy owners money & add any interest earnings as the dividends accrue.. Factors taken into consideration when applying for life insurance.. Which protects a PA policy owner from a mistake made on an application 2 years ago? In an insurance contract, the insurer is the only party legally obligated to perform. Because of this an insurance contract is considered.. The PA insurance department is responsible for Viatical settlem...

PA LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS Single premium cash value policy can be described as.. - correct answer a policy that is paid up only after one payment All of the following are considered appropriate uses of life insurance.. - correct answer - attracting quality employees by offering a group life plan - protecting the business by covering key employees with life insurance - funding an entity buy sell agreement The do not call list offers exemption from all exc...

Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Ferguson Act, what is the minimum penalty for this? - ANSWER $10,000 or up to one year in jail A type of insurer that is owned by its policyowners is called - ANSWER Mutual insurer What is considered to be the primary reason for buying life insurance? - ANSWER Provide death benefits

PA Life Insurance Exam (2024 / 2025) Actual Questions with Verified Answers, 100% Guarantee Pass

life insurance policyowners are free to assign or sell their policy to anyone or anything regardless of the relationship between the new owner (the assignee) and the insured *the continuing need for insurable interest between owner and insured disappears after a life insurance policy is issued* Insurable Interest -the financial interest a person has in another person or property -all insurance applicants must have an insurable interest in the person or property that is to be insured Review -...

Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Ferguson Act, what is the minimum penalty for this? $10,000 or up to one year in jail A type of insurer that is owned by its policyowners is called Mutual insurer What is considered to be the primary reason for buying life insurance? Provide death benefits Fraternal Benefit Society has each of the following characteristics EXCEPT Exist for profit (FBS is a n...

an immediate annuity has been purchased with a single premium. when does the annuitant typically begin receiving benefit payments? - ANS 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 - ANS Grace period The grace period is the amount of time an insurer continues coverage in full force and will accept the p...

24 Hours will be applied to the current reporting period, and 24 can be applied to the period immediately following A producer has successfully completed 52 hours of continuing education. How many hours can the producer apply to her current reporting period, and how many hours can she carry toward the next reporting period? Depreciation period Which of the following is NOT a term for the period of time during which the annuitant or the beneficiary receives income? It is intended to provide cov...

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