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Insurance Licensing PA-Life-Accident-and-Health Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Annuities10-15%- Taxation of annuities
- Annuitization options
- Indexed annuities
- Fixed and variable annuities
Topic 2: Pennsylvania Insurance Laws and Regulations15-20%- Policy forms and approval
- Continuing education requirements
- Unfair trade practices
- Consumer protection rules
- State licensing requirements
Topic 3: Ethics and Professional Conduct10-15%- Fiduciary duties
- Privacy and confidentiality
- Disclosure requirements
- Suitability standards
Topic 4: General Insurance Concepts10-15%- Insurable interest
- Insurance contract law
- Risk and insurance principles
- Agent authority and responsibilities
Topic 5: Accident and Health Insurance30-35%- Accident insurance
- Group health insurance
- Health insurance basics
- Policy provisions and exclusions
- Disability income insurance
- Major medical policies
- Medical expense plans
Topic 6: Life Insurance30-35%- Policy loans and cash values
- Group life insurance
- Policy provisions and riders
- Types of life insurance policies
  • 1. Universal life
    • 2. Term life
      • 3. Variable life
        • 4. Whole life
          - Beneficiary designations
          - Settlement options

          Insurance Licensing Pennsylvania Life, Accident and Health Sample Questions:

          Question 1

          An Insurance licensee must do all of the following in order to renew an insurance license EXCEPT

          A. pay the required renewal fee.
          B. complete the continuing education requirements, if applicable.
          C. submit to the department a completed renewal form.
          D. hold active insurer appointment(s).


          Question 2

          For licensing purposes, the producer's principal place of business or residence in any slate determines the producer's

          A. home state.
          B. territory.
          C. insurance transaction site.
          D. license renewal date.


          Question 3

          Dividends are NOT subject to taxation because they are

          A. a guaranteed policy benefit.
          B. considered prepaid policyowner equity.
          C. equivalent to returning a premium.
          D. considered cash value reductions of policy death benefit proceeds.


          Question 4

          A PRIMARY feature of universal life insurance is that it is

          A. bundled.
          B. fixed.
          C. variable.
          D. flexible.


          Question 5

          Which of the following is a characteristic of conversion from a group life insurance policy to an individual life insurance policy?

          A. Conversion must be to term insurance.
          B. Proof of insurability is required.
          C. Conversion must be applied for within the time specified in the policy.
          D. Premium for the new policy will be based on the age when first covered by the group policy.


          Solutions:

          Question 1
          Answer: A
          Question 2
          Answer: A
          Question 3
          Answer: C
          Question 4
          Answer: D
          Question 5
          Answer: C

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