Question 1

Which of the following policies generally does NOT have a cash value?

Options :

A : endowment

B : variable life

C : straight life

D : term

Answer: D

Question 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

Options :

A : 7 years.

B : 3 years.

C : 5 years.

D : 1 year.

Answer: B

Question 3

Which of the following circumstances may be grounds for suspending an insurance license?

Options :

A : failure to follow insurer's underwriting rules

B : conviction of a summary offense

C : conviction of a felony

D : failure to maintain records for 5 years

Answer: C

Question 4

The premium mode defines the

Options :

A : frequency of the premium payment.

B : premium amount

C : premium limit. I

D : method of premium payment (cash or credit).

Answer: A

Question 5

An insurance producer is appointed to transact insurance on behalf of

Options :

A : the Insurance Commissioner.

B : the Commonwealth of Pennsylvania.

C : the appointing insurer.

D : all insurers.

Answer: C