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Life and Health Insurance Producer Exam

Policy provisions (VT): practice questions

Our Life & Health Insurance bank has 8 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 · Vermont

When a Vermont employee loses group life coverage on leaving the job, how long does the employee have to apply and pay the first premium for an individual conversion policy?

  1. Six months
  2. Two weeks after the last paycheck
  3. 60 days
  4. 31 days
Show the answer

D. 31 days — 8 V.S.A. § 3820.

Question 2 · Vermont

Under Vermont's required health policy provisions, how soon after written proof of loss may a lawsuit on the policy be filed?

  1. Only after binding arbitration
  2. Immediately after the loss
  3. One year after the loss occurs
  4. After 60 days
Show the answer

D. After 60 days — 8 V.S.A. § 4029(11).

Question 3 · Vermont

Unless surrendered for cash or its value is used up, a lapsed Vermont (non-industrial) life policy must be reinstatable for how long after premium default?

  1. Three years
  2. Six months only
  3. One year from default
  4. Five years, without proof of insurability
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A. Three years — 8 V.S.A. § 3731(9).

Question 4 · Vermont

What grace period must an individual (non-industrial) life policy in Vermont allow for premiums after the first?

  1. 10 days
  2. Two months
  3. 31 days only, never one month
  4. 30 days or one month of at least 30 days
Show the answer

D. 30 days or one month of at least 30 days — 8 V.S.A. § 3731(2).

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