Chapter Exam: Pennsylvania Life Laws and Rules

Chapter Exam: Pennsylvania Life Laws and Rules

All of these are considered a form of advertising EXCEPT

1. an insurer's A.M. Best rating

2. an insurer's direct mailing to a target audience

3. a formal sales presentation by the producer

4. an insurer's billboard

Correct. An insurer's A.M. Best rating is NOT considered advertising.

an insurer's A.M. Best rating. An insurer's A.M. Best rating is NOT considered advertising.

Advertising material for a life insurance policy does NOT need to contain which of the following?

1. The company's true corporate name

2. Whether a spokesperson is paid

3. Producer's commission rate

4. Statements that dividends are not guaranteed

Correct. The producer's compensation is not required to be included in advertising material for a life policy.

Producer's commission rate. The producer's compensation is not required to be included in advertising material for a life policy.

Carmen's individual life insurance policy has recently lapsed. She may reinstate her policy within ___ year(s).

1. 3

2. 7

3. 5

4. 1

3.Lapsed individual life insurance may be reinstated at any time within 3 years.

In the state of Pennsylvania, a licensed producer

1. represents the insured

2. may modify insurance contracts

3. approves insurance contracts

4. represents the insurer

represents the insurer. In the state of Pennsylvania, a licensed producer represents the insurer.