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Insurance Licensing PA-Life-Accident-and-Health Exam Syllabus Topics:

SectionWeightObjectives
Ethics and Professional Conduct10-15%- Disclosure requirements
- Suitability standards
- Privacy and confidentiality
- Fiduciary duties
Life Insurance30-35%- Beneficiary designations
- Types of life insurance policies
  • 1. Term life
    • 2. Universal life
      • 3. Variable life
        • 4. Whole life
          - Group life insurance
          - Settlement options
          - Policy loans and cash values
          - Policy provisions and riders
          Pennsylvania Insurance Laws and Regulations15-20%- Policy forms and approval
          - Continuing education requirements
          - Consumer protection rules
          - Unfair trade practices
          - State licensing requirements
          General Insurance Concepts10-15%- Agent authority and responsibilities
          - Insurable interest
          - Insurance contract law
          - Risk and insurance principles
          Accident and Health Insurance30-35%- Group health insurance
          - Policy provisions and exclusions
          - Medical expense plans
          - Accident insurance
          - Major medical policies
          - Disability income insurance
          - Health insurance basics
          Annuities10-15%- Taxation of annuities
          - Annuitization options
          - Indexed annuities
          - Fixed and variable annuities

          Insurance Licensing Pennsylvania Life, Accident and Health Sample Questions:

          Question 1

          The types of life insurance generally used to cover key employee indemnification are

          A. joint, permanent and credit life insurance.
          B. limited-pay, adjustable, and group life insurance.
          C. decreasing term life insurance.
          D. universal, term, and whole life Insurance.


          Question 2

          If a producer misleads or fails to adequately disclose the title and true nature of a policy offered to a potential insured, it may be considered

          A. coercion.
          B. defamation.
          C. misrepresentation.
          D. false advertising.


          Question 3

          If an insurer determines the insured is totally disabled, the policyowner is relieved of paying the policy premiums as long as the disability continues. This statement describes the

          A. waiver of premium rider
          B. premium suspension clause.
          C. disability income rider.
          D. waiting period exemption.


          Question 4

          An insured named her four children as beneficiaries in equal shares to her $60,000 life insurance policy. Her eldest child has two children and dies prior to the insured. The other three children do not have children of their own. If the insured designated the beneficiaries per capita, how will the proceeds be distributed?

          A. The three surviving children will each receive $15,000. The remaining $15,000 will be paid to the insured's estate.
          B. The three surviving children will each receive $20,000.
          C. The three surviving children will each receive $15,000.
          D. The three surviving children will each receive $15,000. The insured's grandchildren will each receive
          $7,500.


          Question 5

          Which of the following is a common exclusion from coverages found in accident and health policies?

          A. Emergency room coverages.
          B. Flu and pneumonia shots.
          C. Self-inflicted injuries.
          D. Coordination of benefits.


          Solutions:

          Question 1
          Answer: D
          Question 2
          Answer: C
          Question 3
          Answer: A
          Question 4
          Answer: B
          Question 5
          Answer: C

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