scoring guide

GENERAL LIFE INSURANCE KNOWLEDGE PRACTICE — LEARNING GUIDE Award one point per correct response for a whole-form diagnostic out of 55. There is no guessing penalty in this practice scoring. An optional operational-subset count is out of 50. Neither correct count is an official scaled score. The licensing scaled-score threshold must not be treated as a raw percentage. The five original unweighted practice analogues are at positions 17, 36, 48, 54, 55. These positions and questions are editorial choices, not official secure pretest identities. All55 explanations support learning. Operational learning domains: Types of Policies: 15 questions; 1, 5, 9, 13, 21, 25, 29, 33, 37, 40, 43, 46, 49, 51, 53 Policy Riders, Provisions, Options and Exclusions: 15 questions; 2, 6, 10, 14, 18, 22, 26, 30, 34, 38, 41, 44, 47, 50, 52 Completing the Application, Underwriting and Delivering the Policy: 12 questions; 3, 7, 11, 15, 19, 23, 27, 31, 35, 39, 42, 45 Other Life Insurance Topics: 8 questions; 4, 8, 12, 16, 20, 24, 28, 32 Answer key: Q01: B — Traditional whole life Q02: A — A separate sales brochure that is not incorporated into the contract. Q03: B — The applicant should supply and review the missing answers. Q04: B — \$225,000 Q05: C — The policy remains in force with no further scheduled premiums due. Q06: B — Free-look provision Q07: D — Correct the answer and review the completed application before signing. Q08: A — The firm owns the policy and receives the death benefit. Q09: C — One premium paid at purchase funds the required premiums for lifetime protection. Q10: B — Waives the required policy premiums while the qualifying disability continues. Q11: B — June 7 Q12: B — Provide the surviving partner with funds to purchase the deceased partner's ownership interest. Q13: C — Whether the remaining value can cover the policy charges during the skipped-payment period. Q14: A — Purchase of the permitted additional coverage without new evidence of insurability. Q15: C — Insurable interest Q16: B — Certificate of insurance Q17: A — Separate-account investment performance can change cash values while scheduled premiums remain fixed. Q18: C — Omar, the contingent beneficiary. Q19: B — Give the applicant an adverse-action notice identifying the reporting agency and the right to a free report and to dispute errors. Q20: C — Eligible individual coverage without new evidence of insurability, at the applicable conversion premium. Q21: A — Variable universal life Q22: D — The existing irrevocable beneficiary's consent. Q23: D — The consumer's permission to obtain the medical information. Q24: C — The annuity does not add a second layer of tax deferral beyond the IRA's existing treatment. Q25: A — Level term life Q26: A — \$179,400 Q27: B — The insurer ensures that agents obtain appropriate program training and monitors their compliance. Q28: D — The worker's unmarried 15-year-old child. Q29: D — Decreasing term Q30: A — Creates a policy loan to pay the overdue premium and prevent lapse. Q31: D — Explain the rated premium and obtain the applicant's informed decision under the delivery requirements. Q32: D — The death benefit is excluded from income; the interest is taxable. Q33: C — Renewal can be exercised without new health evidence, but the age-based premium can increase. Q34: D — \$237,200 Q35: B — Mortality and expense loading Q36: D — Modified endowment contract Q37: C — Conversion within the stated period despite the health change, subject to the available permanent-policy terms. Q38: D — Reduced paid-up insurance Q39: A — The answers are statements represented as true, rather than contractual guarantees of literal truth in every detail. Q40: D — Interest sensitivity does not necessarily give the owner universal-life premium flexibility. Q41: D — Extended term insurance Q42: C — Stranger-originated life insurance Q43: D — Immediate annuity Q44: C — Paid-up additions Q45: A — Compare surrender charges, new acquisition costs, guarantees and nonguaranteed projections in both policies. Q46: A — Accumulation phase Q47: A — \$90,000 Q48: C — Gramm-Leach-Bliley Act Q49: C — The accumulation value can decline when the chosen investments perform poorly. Q50: A — Fixed-amount settlement Q51: C — They continue to the beneficiary for the remaining six years of the guaranteed period. Q52: A — \$150,000 Q53: B — At the first insured partner's death. Q54: B — Waiver of the child's policy premiums for the period specified by the rider. Q55: B — It is not yet payable because the surviving insured is still alive.