Kentucky life and health practice exam

1. How many hours of continuing education must a Kentucky agent complete each continuing education biennium?

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

2. A Kentucky licensee must show proof of CE compliance to the commissioner within:

1. 90 days before the compliance date
2. 10 days after the compliance date
3. 1 year after the compliance date
4. 60 days after the biennial compliance date

3. For a violation of Kentucky's CE requirements, the commissioner may impose a civil penalty of up to:

1. $1,000 per violation
2. $5,000 per violation
3. $10,000 per violation
4. $250 per violation

1. Kentucky allows a life policyowner to return a policy for a refund within at least:

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

2. Which Kentucky life policies are excepted from the statutory return-of-policy (free look) requirement?

1. Term policies and industrial policies
2. Whole life and universal life policies
3. Credit life policies and policies issued under tax-qualified pension plans
4. Policies with face amounts under $10,000

3. Kentucky requires a life insurance grace period of:

1. 31 days
2. 10 days
3. 60 days
4. 30 days, or at the insurer's option, 1 month of not less than 30 days or 4 weeks

4. In Kentucky, a life policy must become incontestable, except for nonpayment of premium, after it has been in force during the insured's lifetime for no more than:

1. 3 years after its date of issue
2. 2 years after its date of issue
3. 5 years after its date of issue
4. 1 year after its date of issue

5. If the insured's age or sex is misstated on a Kentucky life policy, the insurer will:

1. Pay the amount the premium would have purchased at the correct age and sex
2. Void the policy
3. Pay the full face amount
4. Refund all premiums paid

6. In Kentucky, a life policy must allow policy loans after how many full years' premiums have been paid?

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

7. In Kentucky, a lapsed ordinary life policy may be reinstated within:

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

1. In Kentucky, a health insurance policyholder may examine and return the policy for a full premium refund within:

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

1. Under Kentucky's replacement regulation, the owner of a replacement policy may return it for an unconditional full refund within:

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

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

1. 30 days of policy delivery
2. 10 business days of policy issue
3. 5 business days of receiving a completed application
4. 24 hours of the sale

3. Kentucky replacing insurers must keep replacement records for at least:

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

1. The Kentucky Life and Health Insurance Guaranty Association covers life insurance cash surrender values up to:

1. $300,000
2. $250,000
3. $100,000
4. $50,000

2. The Kentucky guaranty association covers the present value of annuity benefits up to:

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

3. The Kentucky guaranty association covers disability income and long-term care insurance up to:

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