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Insurance Licensing Life-and-Accident-and-Health-or-Sickness-Producer-Combo Exam Syllabus Topics:

SectionObjectives
Topic 1: Policy Provisions and Options- Standard policy provisions
- Beneficiaries and policy ownership
Topic 2: State Insurance Regulations- Unfair trade practices and compliance
- Producer licensing requirements
Topic 3: Accident and Health Insurance- Health insurance plans and structures
- Disability income and medical expense coverage
Topic 4: Federal Regulations and Taxation- Federal insurance-related regulations
- Tax treatment of insurance products
Topic 5: Life Insurance- Life policy provisions and riders
- Types of life insurance policies
  • 1. Whole life insurance
    • 2. Term life insurance
      • 3. Universal life insurance
        Topic 6: Annuities- Annuity types and features
        - Accumulation and payout options
        Topic 7: Insurance Fundamentals- Basic insurance principles
        - Insurable interest and risk management concepts
        Topic 8: Ethics and Professional Conduct- Ethical responsibilities of insurance producers
        - Consumer protection standards

        Insurance Licensing Life and Accident and Health or Sickness Producer - Combo Series 20-30 Sample Questions:

        1. All of the following may be used as selection criteria in individual life insurance underwriting EXCEPT:

        A) Smoking habits
        B) National origin
        C) Age
        D) Health status


        2. Under which of the following circumstances may a class designation of beneficiary in life insurance be used?

        A) To name a specific beneficiary to receive the proceeds on behalf of a group
        B) To set up a trust fund for the insured's children
        C) To name the insured's children as beneficiaries without naming them individually
        D) To donate insurance proceeds to a specific organization or charity


        3. How often must insurance licensees subject to continuing education meet the educational requirements?

        A) Every two years
        B) Every three years
        C) There is no requirement
        D) Each year


        4. An employee with $50,000 group life insurance coverage terminates employment and submits an application WITHOUT the initial premium for a $50,000 conversion policy. If the employee dies 15 days later, the insurer would pay:

        A) $50,000 under the new policy
        B) $50,000 under the group plan
        C) $50,000 under the new policy, less the initial premium amount due
        D) Nothing at all


        5. Which is true about the taxation of benefit payments under a non-qualified annuity?

        A) Benefits received before age 59½ may be subject to a tax penalty
        B) Benefits are fully taxable at all times
        C) Benefits received after age 59½ are normally tax exempt
        D) Benefits must commence by age 70½ to avoid a tax penalty


        Solutions:

        Question # 1
        Answer: B
        Question # 2
        Answer: C
        Question # 3
        Answer: A
        Question # 4
        Answer: B
        Question # 5
        Answer: A

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