Washington life and health practice exam

1. In Washington, insurance producers are licensed and regulated by the:

1. Office of the Insurance Commissioner
2. State Insurance Board
3. Department of Licensing
4. Department of Financial Institutions

2. How many CE credit hours must a Washington resident producer with life or disability authority complete each renewal cycle?

1. 30 hours, including 3 hours of ethics
2. 24 hours, with no ethics requirement
3. 24 hours, including 3 hours of ethics
4. 16 hours, including 3 hours of ethics

3. Which statement about excess CE credits in Washington is correct?

1. Up to 12 credits carry over
2. All excess credits carry over
3. Only ethics credits carry over
4. Excess credits cannot be carried over to the next renewal cycle

4. What is the minimum age for a Washington insurance producer license?

1. 19
2. 18
3. 21
4. 16

5. A Washington licensee must inform the Commissioner of a change of address or email address within:

1. 30 days
2. 60 days
3. 10 days
4. 90 days

6. For each knowing violation of Washington's rule against acting as an insurance producer without a license, the Commissioner may assess a civil penalty of up to:

1. $5,000
2. $1,000
3. $10,000
4. $25,000

1. Washington requires a life insurance grace period of:

1. 31 days
2. One month, but not less than 30 days
3. 60 days
4. 10 days

2. In Washington, a life policy becomes incontestable after it has been in force during the insured's lifetime for:

1. 1 year
2. 3 years
3. 2 years
4. 5 years

3. In Washington, a lapsed life policy may be reinstated within:

1. 5 years after the date of default
2. 2 years after the date of default
3. 3 years after the date of default
4. 1 year after the date of default

4. In Washington, a life policy must make policy loans available after how many full years' premiums have been paid?

1. 2
2. 5
3. 1
4. 3

5. A Washington life policy may limit the insurer's liability for suicide within how long from the date of issue?

1. 2 years
2. 1 year
3. 6 months
4. 3 years

6. Under RCW 48.23.300, the interest rate a Washington insurer pays on death benefits must be:

1. No interest is required
2. The rate it pays on other withdrawable policy proceeds, but not less than 8 percent
3. The federal funds rate
4. Exactly 3 percent

7. Washington allows the owner of an individual life policy to return it for a premium refund within:

1. 30 days after receiving it
2. 20 days after receiving it
3. 14 days after receiving it
4. 10 days after receiving it

1. Under Washington's replacement rule, the owner may return a replacement policy for a refund within:

1. 20 days from delivery
2. 30 days from delivery
3. 10 days from delivery
4. 45 days from delivery

2. In Washington, a replacing insurer must notify the existing insurer within:

1. 10 working days of policy issue
2. 3 working days of receiving the application
3. 5 business days of receiving the application
4. 30 days of policy delivery

3. Washington insurers must keep replacement records for at least:

1. 10 years
2. 5 years
3. 3 years, or until the next regular examination
4. 1 year

1. The Washington Life and Disability Insurance Guaranty Association covers life insurance death benefits up to:

1. $250,000
2. $100,000
3. $500,000
4. $300,000

2. The Washington guaranty association covers life insurance cash surrender values up to:

1. $250,000
2. $100,000
3. $300,000
4. $500,000

3. The Washington guaranty association covers the present value of annuity benefits up to:

1. $500,000
2. $100,000
3. $300,000
4. $250,000