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Life and Health Insurance Producer Exam

Replacement and sales practices: practice questions

Our Life & Health Insurance bank has 12 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

What should a producer do if an applicant leaves a medical question blank?

  1. Fill in the answer based on how healthy the applicant looks during the meeting
  2. Ask the applicant and have them answer before submitting the application
  3. Assume the answer is 'no' and send in the application
  4. Leave it blank, since the insurer will call the applicant
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B. Ask the applicant and have them answer before submitting the application — Incomplete applications delay or prevent issue.

Question 2

What should a producer do before recommending an annuity to a senior client?

  1. Tell the client the surrender charges don't apply to older buyers
  2. Gather information about the client's finances, objectives and needs to ensure the annuity is in their best interest
  3. Ask the client's children to sign the application on the client's behalf
  4. Recommend the annuity with the highest bonus, since seniors like bonuses
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B. Gather information about the client's finances, objectives and needs to ensure the annuity is in their best interest — Senior protection rules are strict.

Question 3

What is a buyer's guide?

  1. A map showing where insurers' offices are located
  2. A list of the best-selling policies of each insurer in the state this year
  3. A guide for agents on how to close more sales
  4. A general explanation of life insurance types to help consumers compare
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D. A general explanation of life insurance types to help consumers compare — Required in many states with life insurance sales.

Question 4

What is a policy summary used for?

  1. Summarizing all claims paid by the insurer last year
  2. Listing the producer's licences and appointments
  3. Giving specific information about the policy being considered, such as premiums and values
  4. Explaining state law on unfair trade practices
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C. Giving specific information about the policy being considered, such as premiums and values — It is often given with a buyer's guide.

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