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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Life Insurance | 30-35% | - Group life insurance - Types of life insurance policies
- Policy provisions and riders - Beneficiary designations - Settlement options |
| Topic 2: Pennsylvania Insurance Laws and Regulations | 15-20% | - Unfair trade practices - Policy forms and approval - Continuing education requirements - State licensing requirements - Consumer protection rules |
| Topic 3: Ethics and Professional Conduct | 10-15% | - Fiduciary duties - Suitability standards - Privacy and confidentiality - Disclosure requirements |
| Topic 4: Accident and Health Insurance | 30-35% | - Group health insurance - Major medical policies - Health insurance basics - Disability income insurance - Accident insurance - Medical expense plans - Policy provisions and exclusions |
| Topic 5: Annuities | 10-15% | - Indexed annuities - Annuitization options - Taxation of annuities - Fixed and variable annuities |
| Topic 6: General Insurance Concepts | 10-15% | - Risk and insurance principles - Insurable interest - Insurance contract law - Agent authority and responsibilities |
1. The insurance commissioner may issue a temporary license if the insurance commissioner deems, that the temporary license is necessary for the servicing of an - insurance business in which one of the following cases?
A) A temporary license is automatically issued to the executor of a deceased licensed insurance producer
B) A temporary license may be issued to a person who failed the written insurance examination so long as the written examination is passed within 1 year.
C) A temporary license may be issued to the surviving spouse of the licensed producer to allow adequate time for the sale of the business.
D) When a producer dies, a temporary license may be issued to those persons represented by the deceased as well as to inactive or limited business partners.
2. In Pennsylvania, the Time Limit on Certain Defenses Provision provides that no statement can be used to deny a claim on an accident and health policy after
A) 7 years.
B) 1 year.
C) 3 years.
D) 5 years.
3. I Which of the following documents describes the coverage, conditions, and limitations found in the master policy of a group contract?
A) administrative services agreement
B) certificate of authority
C) consumer brochure
D) certificate of coverage and benefits
4. Which is NOT a characteristic of a major medical expense policy?
A) Deductibles
B) Elimination periods
C) Coinsurance
D) Stop loss limits
5. An insured has a 20-pay life policy with a paid-up dividend option. In this option, the insured may
A) use policy dividends to reduce the premium after 20 years.
B) pay up the policy early by using policy dividends.
C) waive premium payments until the policy has accumulated enough cash values to pay it up for 20 years.
D) pay up the policy early by using accumulated cash values.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: B |
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