Docsity
Docsity

Prepare for your exams
Prepare for your exams

Study with the several resources on Docsity


Earn points to download
Earn points to download

Earn points by helping other students or get them with a premium plan


Guidelines and tips
Guidelines and tips

Kentucky Life & Health Insurance Exam Practice Questions with Verified Answers | Latest 20, Exams of Insurance law

Kentucky Life & Health Insurance Exam Practice Questions with Verified Answers | Latest 2025/2026.

Typology: Exams

2024/2025

Available from 07/02/2025

AcademiaExpert
AcademiaExpert 🇺🇸

2

(1)

667 documents

1 / 65

Toggle sidebar

This page cannot be seen from the preview

Don't miss anything!

bg1
Kentuckyi,-Lifei,-&i,-Healthi,-Insurancei,-
Exami,-Practicei,-Questionsi,-withi,-Verifiedi,-
Answersi,-|i,-Latesti,-2025/2026.
Ai,-husbandi,-andi,-wifei,-owni,-ai,-lifei,-insurancei,-policyi,-withi,-theiri,-soni,-
namedi,-asi,-beneficiary.i,-Thei,-wifei,-diesi,-first,i,-followedi,-byi,-thei,-husbandi,-
5i,-yearsi,-later.i,-Theiri,-soni,-receivesi,-thei,-policy'si,-facei,-amounti,-afteri,-hisi,-
fatheri,-dies.i,-Whati,-typei,-ofi,-policyi,-wasi,-owned?i,-
i,-Familyi,-Maintenance
i,-Duali,-Life
i,-Jointi,-Life
i,-Survivorshipi,-Lifei,-i,- i,-survivorshipi,-life
Wheni,-ai,-premiumi,-paymenti,-fori,-ai,-lifei,-insurancei,-policyi,-isi,-missed,i,-
whati,-provisioni,-willi,-dictatei,-thei,-actionsi,-takeni,-byi,-thei,-insurer?i,-
i,-Reinstatementi,-clause
i,-Gracei,-Periodi,-clause
i,-Premiumi,-Modei,-clause
i,-Incontestablei,-clausei,-i,- i,-Gracei,-periodi,-clause
pf3
pf4
pf5
pf8
pf9
pfa
pfd
pfe
pff
pf12
pf13
pf14
pf15
pf16
pf17
pf18
pf19
pf1a
pf1b
pf1c
pf1d
pf1e
pf1f
pf20
pf21
pf22
pf23
pf24
pf25
pf26
pf27
pf28
pf29
pf2a
pf2b
pf2c
pf2d
pf2e
pf2f
pf30
pf31
pf32
pf33
pf34
pf35
pf36
pf37
pf38
pf39
pf3a
pf3b
pf3c
pf3d
pf3e
pf3f
pf40
pf41

Partial preview of the text

Download Kentucky Life & Health Insurance Exam Practice Questions with Verified Answers | Latest 20 and more Exams Insurance law in PDF only on Docsity!

Kentuckyi,-Lifei,-&i,-Healthi,-Insurancei,-

Exami,-Practicei,-Questionsi,-withi,-Verifiedi,-

Answersi,-|i,-Latesti,-2025/2026.

Ai,-husbandi,-andi,-wifei,-owni,-ai,-lifei,-insurancei,-policyi,-withi,-theiri,-soni,-

namedi,-asi,-beneficiary.i,-Thei,-wifei,-diesi,-first,i,-followedi,-byi,-thei,-husbandi,-

5 i,-yearsi,-later.i,-Theiri,-soni,-receivesi,-thei,-policy'si,-facei,-amounti,-afteri,-hisi,-

fatheri,-dies.i,-Whati,-typei,-ofi,-policyi,-wasi,-owned?i,-

i,-Familyi,-Maintenance

i,-Duali,-Life

i,-Jointi,-Life

i,-Survivorshipi,-Lifei,-i,- i,-survivorshipi,-life

Wheni,-ai,-premiumi,-paymenti,-fori,-ai,-lifei,-insurancei,-policyi,-isi,-missed,i,-

whati,-provisioni,-willi,-dictatei,-thei,-actionsi,-takeni,-byi,-thei,-insurer?i,-

i,-Reinstatementi,-clause

i,-Gracei,-Periodi,-clause

i,-Premiumi,-Modei,-clause

i,-Incontestablei,-clausei,-i,- i,-Gracei,-periodi,-clause

Whati,-kindi,-ofi,-premiumi,-doesi,-ai,-Wholei,-Lifei,-policyi,-have?i,-

i,-decreasing

i,-adjustable

i,-level

i,-deferredi,-i,- i,-Level

Alli,-ofi,-thei,-followingi,-arei,-properi,-fundingi,-vehiclesi,-ini,-ai,-qualifiedi,-

plan,i,-EXCEPT?

i,-Annuity

i,-Mutuali,-Fund

i,-Stock

i,-Lifei,-Insurancei,-i,- i,-Lifei,-insurance

Alli,-ofi,-thei,-followingi,-statementsi,-abouti,-Majori,-Medicali,-benefitsi,-arei,-

true,i,-EXCEPT:i,-

Thei,-deductiblei,-cani,-bei,-expressedi,-asi,-ai,-fixedi,-dollari,-amount

Thei,-benefiti,-periodi,-beginsi,-onlyi,-afteri,-ai,-specifiedi,-amounti,-ofi,-

expensesi,-havei,-accrued

Ai,-produceri,-whoi,-guaranteesi,-thei,-paymenti,-ofi,-dividendsi,-byi,-ai,-policyi,-

ofi,-insurancei,-hasi,-engagedi,-in:

i,-Twisting

i,-Misrepresentation

i,-Defamation

i,-Rebatingi,-i,- i,-misrepresentation

Lifei,-insurancei,-underwritingi,-wouldi,-consideri,-whichi,-ofi,-thesei,-factorsi,-

asi,-unimportant?i,-

i,-Agei,-ofi,-thei,-applicant

i,-Weighti,-ofi,-thei,-applicant

i,-Maritali,-statusi,-ofi,-thei,-applicant

i,-Genderi,-ofi,-thei,-applicanti,-i,- i,-Maritali,-statusi,-ofi,-thei,-applicant

Thei,-inducementi,-ofi,-ani,-insuredi,-toi,-lapse,i,-forfeit,i,-ori,-surrenderi,-ani,-

insurancei,-policyi,-byi,-misrepresentationi,-ori,-misleadingi,-comparisons,i,-

ini,-orderi,-toi,-writei,-ai,-newi,-policy,i,-isi,-knowni,-as:

i,-Rebating

i,-Twisting

i,-Commingling

i,-Churningi,-i,- i,-Twisting

Michellei,-purchasedi,-ai,-Longi,-Termi,-Carei,-policyi,- 12 i,-monthsi,-afteri,-

sufferingi,-ai,-stroke.i,-Anyi,-futurei,-claimsi,-shei,-willi,-havei,-relatedi,-toi,-thisi,-

strokei,-willi,-be:i,-

i,-denied

i,-covered

i,-coveredi,-onlyi,-ifi,-additionali,-premiumsi,-arei,-paid

i,-deniedi,-onlyi,-ifi,-shei,-wasi,-experiencingi,-problemsi,-fromi,-thei,-strokei,-ati,-

thei,-timei,-ofi,-applicationi,-i,- i,-Covered

Mosti,-LTCi,-policiesi,-doi,-noti,-coveri,-conditionsi,-thati,-existedi,-duringi,-thei,-

6 i,-monthsi,-beforei,-thei,-policyi,-effectivei,-date.i,-Ini,-thisi,-situation,i,-thei,-

eventi,-occurredi,- 12 i,-monthsi,-prior.

Ani,-owneri,-hasi,-ai,-lifei,-annuityi,-whichi,-providesi,-benefiti,-paymentsi,-fori,-

ai,-minimumi,-timei,-period,i,-noi,-matteri,-wheni,-thei,-annuitanti,-dies.i,-Thei,-

featurei,-ofi,-thisi,-annuityi,-isi,-called:i,-

i,-fixedi,-period

Whichi,-ofi,-thesei,-Nonforfeiturei,-Optionsi,-continuei,-ai,-build-upi,-ofi,-cashi,-

value?i,-

i,-Waiveri,-ofi,-Premium

i,-Extendedi,-Term

i,-Reducedi,-Paid-Up

i,-Cashi,-Surrenderi,-i,- i,-Reducedi,-paidi,-up

Ai,-Reducedi,-Paid-Upi,-optioni,-wouldi,-providei,-continuingi,-cashi,-valuei,-

build-up.

Whati,-typei,-ofi,-lifei,-policyi,-coversi,-twoi,-peoplei,-andi,-paysi,-uponi,-thei,-

deathi,-ofi,-thei,-lasti,-insured?i,-

i,-Shared

i,-Survivorship

i,-Adjustable

i,-Jointi,-i,- i,-Survivorship

Whichi,-ofi,-thei,-followingi,-questionsi,-mayi,-ani,-insureri,-properlyi,-aski,-ani,-

applicanti,-fori,-insurance?

i,-Whetheri,-thei,-applicanti,-hasi,-everi,-testedi,-positivei,-fori,-thei,-HIVi,-

infection

i,-Whetheri,-thei,-applicanti,-hasi,-everi,-beeni,-testedi,-fori,-thei,-HIVi,-infection

i,-Whetheri,-thei,-applicanti,-hasi,-everi,-testedi,-negativei,-fori,-thei,-HIVi,-

infection

i,-Nonei,-ofi,-thei,-abovei,-i,- i,-Whetheri,-thei,-applicanti,-hasi,-everi,-testedi,-

positivei,-fori,-thei,-HIVi,-infection

Whichi,-typei,-ofi,-lifei,-policyi,-containsi,-ai,-monthlyi,-mortalityi,-chargei,-asi,-

welli,-asi,-self-directedi,-investmenti,-choices?i,-

i,-Jointi,-Life

i,-Adjustablei,-Life

i,-Variablei,-Universali,-Life

i,-Universali,-Lifei,-i,- i,-Variablei,-Universali,-Life

i,-Thei,-totali,-amounti,-repayablei,-underi,-thei,-contracti,-ofi,-indebtedness

i,-Thei,-insured'si,-individuali,-salary

i,-Thei,-totali,-Lifei,-insurancei,-alreadyi,-ini,-placei,-oni,-thei,-insured'si,-life.

i,-Ani,-amounti,-toi,-bei,-determinedi,-byi,-thei,-Commissioneri,-oni,-ai,-case-by-

casei,-basisi,-i,- i,-Thei,-totali,-amounti,-repayablei,-underi,-thei,-contracti,-ofi,-

indebtedness

Howi,-muchi,-willi,-bei,-taxablei,-ifi,-ai,-policyowner,i,-agei,-55,i,-relinquishesi,-ai,-

Universali,-Lifei,-policy?i,-

i,-Noi,-taxesi,-arei,-owedi,-oni,-ai,-Universali,-Lifei,-policyi,-cashi,-surrender

i,-Taxesi,-arei,-owedi,-oni,-thei,-entirei,-cashi,-value

i,-Taxesi,-arei,-owedi,-oni,-thei,-entirei,-cashi,-valuei,-plusi,-ai,-10%i,-penaltyi,-fori,-

earlyi,-withdrawal

i,-Taxesi,-arei,-owedi,-oni,-thei,-amounti,-ofi,-cashi,-valuei,-thati,-exceedsi,-thei,-

premiumsi,-paidi,-i,- i,-Taxesi,-arei,-owedi,-oni,-thei,-amounti,-ofi,-cashi,-valuei,-

thati,-exceedsi,-thei,-premiumsi,-paid

Wheni,-ai,-materiali,-misstatementi,-isi,-discoveredi,-oni,-ani,-applicationi,-fori,-

healthi,-insurance,i,-thei,-insureri,-mayi,-contesti,-thei,-claimi,-paymenti,-

duringi,-whati,-periodi,-ofi,-timei,-followingi,-thei,-issuancei,-ofi,-thei,-policy?

i,- 1 i,-year

i,- 2 i,-years

i,- 3 i,-years

i,- 4 i,-yearsi,-i,- i,- 2 i,-years

Ti,-hasi,-Disabilityi,-Incomei,-policyi,-thati,-paysi,-ai,-monthlyi,-benefiti,-ofi,-

$5000.i,-Ifi,-Ti,-becomesi,-partiallyi,-disabled,i,-whati,-cani,-hei,-likelyi,-expect?i,-

i,-$5,000i,-peri,-monthi,-benefit

i,-$10,000i,-peri,-monthi,-benefiti,-ifi,-thei,-causei,-wasi,-accidental

i,-Morei,-thani,-$5,000i,-peri,-monthi,-benefiti,-ifi,-causei,-wasi,-work-related

i,-Contributionsi,-arei,-noti,-taxi,-deductiblei,-i,- i,-10%i,-penaltyi,-isi,-appliedi,-

toi,-withdrawalsi,-beforei,-agei,- 59 i,-1/

Becausei,-ani,-IRAi,-isi,-ai,-qualifiedi,-plan,i,-iti,-hasi,-thei,-samei,-rulesi,-fori,-earlyi,-

withdrawal.

Thei,-onlyi,-partyi,-ini,-ani,-insurancei,-contracti,-thati,-makesi,-ai,-legallyi,-

enforceablei,-promisei,-isi,-thei,-insurancei,-company.i,-Becausei,-ofi,-this,i,-

insurancei,-contractsi,-arei,-consideredi,-toi,-be:i,-

i,-conditional

i,-aleatory

i,-unilateral

i,-contractsi,-ofi,-adhesioni,-i,- i,-unilateral

Insurancei,-contractsi,-arei,-unilateral.i,-Thisi,-meansi,-thati,-onlyi,-onei,-partyi,-

(thei,-insurer)i,-makesi,-anyi,-kindi,-ofi,-enforceablei,-promise.

Whichi,-ofi,-thei,-followingi,-statementsi,-abouti,-accumulatedi,-interesti,-

earnedi,-oni,-dividendsi,-fromi,-ani,-insurancei,-policyi,-isi,-TRUE?i,-

i,-Iti,-isi,-noti,-taxable

i,-Iti,-isi,-taxi,-deductible

i,-Iti,-isi,-taxedi,-asi,-capitali,-gains

i,-Iti,-isi,-taxedi,-asi,-ordinaryi,-incomei,-i,- i,-Iti,-isi,-taxedi,-asi,-ordinaryi,-income

Ini,-ai,-qualifiedi,-retirementi,-plan,i,-thei,-yearlyi,-contributionsi,-toi,-ani,-

employee'si,-account:i,-

i,-arei,-noti,-tax-deductible

i,-arei,-restrictedi,-toi,-minimumi,-levelsi,-seti,-byi,-thei,-IRS

i,-arei,-restrictedi,-toi,-maximumi,-levelsi,-seti,-byi,-thei,-IRS

i,-musti,-bei,-matchedi,-dollar-for-dollari,-byi,-thei,-employeri,-i,- i,-arei,-

restrictedi,-toi,-maximumi,-levelsi,-seti,-byi,-thei,-IRS

Wheni,-ani,-individuali,-isi,-planningi,-toi,-protecti,-hisi,-familyi,-withi,-lifei,-

insurance,i,-onei,-methodi,-ofi,-doingi,-soi,-isi,-calledi,-needsi,-analysis.i,-Whati,-

exactlyi,-doesi,-needsi,-analysisi,-involve?i,-

i,-Establishesi,-thei,-needsi,-ofi,-thei,-individuali,-andi,-hisi,-dependents

i,-Takesi,-intoi,-accounti,-thei,-presenti,-valuei,-ofi,-futurei,-incomei,-earnedi,-byi,-

thei,-breadwinner

Ani,-insurablei,-riski,-requires:i,-

i,-thati,-thei,-chancei,-fori,-bothi,-ai,-lossi,-ori,-gaini,-exists

i,-thei,-lossi,-musti,-bei,-catastrophic

i,-thati,-thei,-chancei,-ofi,-lossi,-bei,-measurable

i,-thati,-thei,-lossi,-musti,-bei,-incalculablei,-i,- i,-thati,-thei,-chancei,-ofi,-lossi,-bei,-

measurable

Ai,-signedi,-goodi,-healthi,-statementi,-wouldi,-bei,-collectedi,-byi,-ai,-lifei,-

produceri,-ati,-thei,-timei,-of:i,-

i,-policyi,-issue

i,-application

i,-policyi,-delivery

i,-physicali,-examinationi,-i,- i,-policyi,-delivery

Whichi,-ofi,-thei,-followingi,-actionsi,-mayi,-thei,-Commissioneri,-takei,-ifi,-ani,-

applicanti,-providesi,-misleadingi,-informationi,-ini,-thei,-applicationi,-fori,-ai,-

license?

i,-Refusei,-toi,-issuei,-thei,-license.

i,-Suspendi,-thei,-licensei,-ifi,-iti,-hasi,-alreadyi,-beeni,-issued.

i,-Imposei,-ai,-civili,-penalty.

i,-Alli,-ofi,-thei,-choicesi,-arei,-correct.i,-i,- i,-Alli,-ofi,-thei,-choicesi,-arei,-correct

Medicarei,-basesi,-itsi,-eligibilityi,-requirementsi,-on:i,-

i,-ani,-individual'si,-assets

i,-ani,-individual'si,-age

i,-ani,-individual'si,-need

i,-ani,-individual'si,-employmenti,-statusi,-i,- i,-age

Wheni,-doesi,-interesti,-incomei,-ini,-ai,-deferredi,-annuityi,-geti,-reportedi,-fori,-

federali,-incomei,-taxes?i,-

i,-Never

i,-Afteri,-thei,-principali,-hasi,-beeni,-exhausted

i,-Wheni,-thei,-distributionsi,-arei,-received

i,-Duringi,-thei,-accumulationi,-phasei,-i,- i,-Wheni,-thei,-distributionsi,-arei,-

received

Whichi,-ofi,-thesei,-statementsi,-isi,-INCORRECTi,-regardingi,-thei,-federali,-

incomei,-taxi,-treatmenti,-ofi,-lifei,-insurance?i,-

Whati,-isi,-thei,-maximumi,-facei,-amounti,-ofi,-ani,-Industriali,-Lifei,-Insurancei,-

policy?

i,-$3,

i,-$10,

i,-$5,

i,-thesei,-policiesi,-cani,-bei,-writteni,-fori,-anyi,-facei,-amounti,-i,- i,-$3,

Ti,-andi,-Si,-arei,-namedi,-co-primaryi,-beneficiariesi,-oni,-ai,-$500,000i,-

Accidentali,-Deathi,-andi,-Dismembermenti,-policyi,-insuringi,-theiri,-

father.i,-Theiri,-motheri,-wasi,-namedi,-contingenti,-beneficiary.i,-Fivei,-yearsi,-

later,i,-Si,-diesi,-ofi,-naturali,-causesi,-andi,-thei,-fatheri,-isi,-killedi,-ini,-ai,-scubai,-

accidenti,-shortlyi,-afterwards.i,-Howi,-muchi,-ofi,-thei,-deathi,-benefiti,-willi,-

thei,-motheri,-receive?i,-

i,-$1,000,

i,-$500,

i,-$250,

i,-$0i,-i,- i,-$

Oni,-ai,-lifei,-insurancei,-policy,i,-whoi,-isi,-qualifiedi,-toi,-changei,-thei,-

beneficiaryi,-designation?i,-

i,-Payer

i,-Primaryi,-beneficiary

i,-Policyowner

i,-Insureri,-i,- i,-Policyowner

Ki,-becomesi,-illi,-afteri,-travelingi,-overseasi,-andi,-isi,-unablei,-toi,-worki,-fori,- 3 i,-

months.i,-Whati,-kindi,-ofi,-policyi,-wouldi,-coveri,-heri,-lossi,-ofi,-income?i,-

i,-Indemnity

i,-Majori,-Medical

i,-Travel

i,-Disabilityi,-Incomei,-i,- i,-Disabilityi,-income

Whichi,-ofi,-thesei,-isi,-NOTi,-consideredi,-thei,-responsibilityi,-ofi,-ai,-produceri,-

ini,-thei,-underwritingi,-process?i,-

i,-Collectingi,-additionali,-medicali,-informationi,-ifi,-needed

i,-Promptlyi,-sendingi,-thei,-completedi,-applicationi,-toi,-thei,-insurancei,-

company