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

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

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

        1. Replacing an existing life insurance policy with a new one may result in:

        A) An illegal transaction
        B) Surrender costs
        C) Small business taxation
        D) Capital gains taxation


        2. Which amount may be deposited into a rollover individual retirement account (IRA) for the purpose of deferring income taxes?

        A) The value of an IRA established by the beneficiary's deceased parent
        B) The refund received by the beneficiary under a refund life annuity
        C) The amount paid to the spouse of a deceased annuitant under a tax-sheltered annuity
        D) The proceeds of a life insurance policy paid to a beneficiary under age 70-1/2


        3. Which feature in a long-term care insurance policy is designed specifically to provide benefits at times when family members need a break from caring for the insured?

        A) Skilled nursing facility care
        B) Home health care
        C) Respite care
        D) Custodial facility care


        4. Group health insurance contracts providing coverage for employees in more than one state are usually controlled by the laws of the state where:

        A) The application is signed
        B) The producer resides
        C) The master contract is issued
        D) The majority of employees reside


        5. After completing an application for insurance, the insurance producer collects the premiums but deposits the check in the insurance producer's checking account. What crime has been committed?

        A) Fraud
        B) Twisting
        C) Replacement
        D) Rebating


        Solutions:

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

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