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Life and Health Insurance Producer Exam

Policy provisions (ND): practice questions

Our Life & Health Insurance bank has 6 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · North Dakota

What grace period must a North Dakota individual life insurance policy allow for premiums after the first?

  1. Sixty days, with no interest charge permitted
  2. Ten days, after which the policy lapses without notice
  3. Seven days for monthly premiums and twenty days for annual premiums
  4. Thirty-one days, during which the coverage stays in force
Show the answer

D. Thirty-one days, during which the coverage stays in force — N.D.C.C. 26.1-33-05(2).

Question 2 · North Dakota

How long does a purchaser have to return an individual life insurance policy delivered in North Dakota for a refund of premium?

  1. Sixty days from delivery
  2. Ten days from the date of application
  3. Thirty-one days from the policy date
  4. Twenty days from delivery
Show the answer

D. Twenty days from delivery — N.D.C.C. 26.1-33-02.1.

Question 3 · North Dakota

Under North Dakota law, how long may a life policy's suicide restriction remain effective?

  1. Three years after issuance, the same as reinstatement
  2. Only during the first year after issuance
  3. Two years, or three if the insured is under age 25
  4. For as long as the policy has no cash value
Show the answer

B. Only during the first year after issuance — N.D.C.C. 26.1-33-05(12).

Question 4 · North Dakota

A North Dakota health insurer requires a reinstatement application and issues a conditional receipt. If it neither approves nor gives written notice of disapproval, when is the policy reinstated?

  1. On the forty-fifth day after the date of the conditional receipt
  2. Immediately, on the day the late premium is tendered
  3. Never; the insurer's silence is treated as a denial
  4. After ninety days, but only for accidental injuries
Show the answer

A. On the forty-fifth day after the date of the conditional receipt — N.D.C.C. 26.1-36-04(1)(f).

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