Free Types of Life Insurance Policies Practice Questions
Connecticut Life, Accident & Health exam (series 12-CT-03) — 60 practice questions.
Subtopics: Variable life free look, Variable life grace period, Variable life qualification, Definition of life insurance, Charitable beneficiary, Buyer's guide amount, Convertible term, Term life, Whole life, Universal life, Indexed life, Variable life, Variable universal life, Group life, Specialized policies, Annual renewable term, Return of premium term, Increasing term, Modified whole life, Limited-pay life, Joint life, Universal life Option A, Universal life target premium, Universal life interest crediting, Variable life prospectus, Variable products licensing, Interest-sensitive whole life, Endowment policy, Family income policy, Adjustable life, Industrial life, Credit life, Multiple protection, Fraternal and other
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Sample questions & answers
1. Under Connecticut's variable life regulation, a variable life policy must allow the policyholder to return it within how many days of receipt?
10 days
Regulation 38a-433-4 requires a captioned provision allowing return within 10 days of receipt with a specified refund.
2. A scheduled-premium variable life policy delivered in Connecticut must provide a grace period of at least:
31 days
Regulation 38a-433-4 requires a grace period of not less than thirty-one days from the premium due date for scheduled premium policies.
3. Before selling variable life insurance in Connecticut, an agent must file evidence with the Commissioner that the agent:
Holds any required license, such as a securities registration
Regulation 38a-433-10 requires evidence that the person holds any license or authorization required for variable life sales.
4. Under Connecticut's definition, the business of life insurance includes all of the following EXCEPT:
Paying for property damage to the insured's home
Section 38a-1(14) includes endowments, accidental death benefits, disability benefits and settlement options; property damage is property insurance.
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Practice: Types of Life Insurance Policies
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
