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Insurance Licensing PA-Life-Accident-and-Health Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Insurance Regulation | 8% | - Licensing - State regulation - Federal regulation |
| Life Insurance Policies | 11% | - Specialized policies - Group life insurance - Flexible premium policies - Term life insurance - Whole life insurance |
| General Insurance | 6% | - Contracts - Agents and general rules of agency - Concepts - Insurers |
| Life Insurance Basics | 8% | - Factors in premium determination - Insurable interest - Determining amount of personal life insurance - Personal uses of life insurance - Differences in life insurance policies - Premiums - Business uses of life insurance - Individual underwriting by the insurer - Licensee responsibilities |
| Group Health Insurance | - Group health insurance provisions - Group health insurance concepts - Group health insurance plans | |
| Annuities | - Annuity taxation - Annuity products - Annuity principles and concepts | |
| Health Insurance Basics | - Health insurance concepts - Medical expense insurance - Disability income insurance - Social insurance - Policy provisions and riders | |
| Pennsylvania Statutes, Rules and Regulations Common to Life, Accident and Health | 30% | - Penalties and offenses - Unfair trade practices - Pennsylvania Insurance Department - Licensing requirements - Agent conduct and trade practices |
| Individual Health Insurance Policy General Provisions | - Uniform required provisions - Other provisions - Optional provisions | |
| Specialized Health Insurance for Qualified Individuals | - Medicaid - Long-term care insurance - HIPAA - Medicare |
Insurance Licensing Pennsylvania Life, Accident and Health Sample Questions:
1. When the Commissioner believes a producer has violated an insurance law, the Commissioner has the authority to:
A) Terminate the producer's appointment
B) Cancel the producer's fiduciary responsibility
C) Increase the producer's continuing education requirement
D) Issue a cease and desist order against the producer after a hearing
2. The accumulated cash value of a whole life insurance policy becomes the
A) funds used to offset policy administration and conversion expenses
B) amount used to purchase paid up additions to the insured's policy.
C) face amount payable upon the insured's death.
D) policy loan value upon which the policyowner may borrow.
3. The primary income earner of the family earns $100,000 annually and has 20 years until retirement Using the Human Life Value Approach, how much coverage is recommended?
A) $2,200,000
B) $1,000,000
C) $2,000,000
D) $1,100,000
4. Which annuity feature makes it a suitable source of retirement income for an individual?
A) Annuities grow tax deferred.
B) Annuities pay out principal and interest
C) Deferred annuities provide a lump-sum distribution at retirement.
D) Annuities provide income the annuitant cannot outlive.
5. Which is an accurate statement regarding the taxation of personal life insurance?
A) The interest on a policy loan is tax deductible to the insured.
B) Dividends and interest earned are taxable as ordinary income.
C) Lump sum death benefits are income tax free.
D) The payment of accelerated death benefits are reported as taxable Income.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: D | Question # 5 Answer: C |



