semplr.

Exams · Certifications · Licensing

Life and Health Insurance Producer Exam

Policy provisions (WA): 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.

Start the free mock exam

Question 1 · Washington

If an insurer does not refund the premium within 30 days after a life or disability policy is returned under the free-look notice, what is added to the refund?

  1. A $100 late fee
  2. Interest at 6 percent a year
  3. Double the premium
  4. A 10 percent penalty
Show the answer

D. A 10 percent penalty — RCW 48.23.380(1); RCW 48.20.013.

Question 2 · Washington

A Washington individual life policy must become incontestable, except for nonpayment of premium, after it has been in force:

  1. Five years, or until the insured reaches age 65
  2. Three years from the date of the application
  3. One year from the date the first premium is paid
  4. Two years from issue during the insured's lifetime
Show the answer

D. Two years from issue during the insured's lifetime — RCW 48.23.050.

Question 3 · Washington

For an individual disability policy with monthly premiums, the grace period must be at least:

  1. 7 days
  2. 31 days, as for annual-premium policies
  3. One full month
  4. 10 days
Show the answer

D. 10 days — RCW 48.20.062.

Question 4 · Washington

Washington's free look for an individual life insurance policy lets the owner return it for a full premium refund within:

  1. 10 days after the owner receives it
  2. 20 days after the policy is issued
  3. 7 days after the first premium is paid
  4. 30 days after the application date
Show the answer

A. 10 days after the owner receives it — RCW 48.23.380(1).

More Life & Health Insurance topics