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Insurance Licensing Life-and-Accident-and-Health-or-Sickness-Producer-Combo Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Ethics and Professional Conduct | - Ethical responsibilities of insurance producers - Consumer protection standards |
| Topic 2: Accident and Health Insurance | - Disability income and medical expense coverage - Health insurance plans and structures |
| Topic 3: Policy Provisions and Options | - Beneficiaries and policy ownership - Standard policy provisions |
| Topic 4: Insurance Fundamentals | - Basic insurance principles - Insurable interest and risk management concepts |
| Topic 5: Life Insurance | - Types of life insurance policies
|
| Topic 6: Annuities | - Accumulation and payout options - Annuity types and features |
| Topic 7: Federal Regulations and Taxation | - Tax treatment of insurance products - Federal insurance-related regulations |
| Topic 8: State Insurance Regulations | - Producer licensing requirements - Unfair trade practices and compliance |
Insurance Licensing Life and Accident and Health or Sickness Producer - Combo Series 20-30 Sample Questions:
1. Which of the following reinforces the rule that ambiguities in insurance contracts should be interpreted in favor of the policyholder?
A) Retrocession
B) Reasonable expectations
C) Representation
D) Retention
2. Which advantage is available to employees participating in a qualified profit-sharing plan?
A) Investment earnings on the plan contributions are received by the employee income tax free
B) The employees have the option of a defined benefit or defined contribution plan
C) The contributions are excluded from current taxable income to the employee
D) Employees can avoid tax penalties on premature distributions
3. All of the following have a restricted ability to enter into a contract EXCEPT:
A) Minors under a certain age
B) Individuals who are retired
C) Individuals who are intoxicated
D) Individuals who are mentally ill
4. If the owner makes a withdrawal from a tax-sheltered annuity, or TSA, at age 56, the amount of federal taxes owed normally will be:
A) Only the usual tax on ordinary income
B) The usual tax on ordinary income, plus 10% of the amount withdrawn
C) Only 10% of the amount withdrawn
D) Nothing, since under a qualified plan the taxes are deferred
5. A health maintenance organization (HMO) must provide coverage for all of the following EXCEPT:
A) Well-baby or well-child care
B) Routine physical examinations
C) Dental and vision care
D) Emergency services
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: C |






