Register
Home Quizzes Quiz Detail
Practice Quiz

CIC Life & Health Practice Questions - CIC Life and Health Institute Exam

100 questions 5.0 rating Mobile friendly
$69.00

Unlock the full practice quiz

Get complete access to the questions, explanations and printable quiz resources.

Full access: unlock all quiz questions and explanations.
Printable review: access the full quiz PDF with correct answers after purchase.

About this Exam

Prepare with the CIC Life & Health Practice Questions - CIC Life and Health Institute Exam practice quiz. This question bank includes 100 questions covering life, insurance, policy, plan, and coverage. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

Sample Questions

Question 1
Which life insurance product provides level death benefit and level premiums for a stated number of years, with no cash value, and is generally the lowest-cost form of pure protection?
Whole life insurance
Level term life insurance
Universal life insurance
Variable universal life insurance
Question 2
A whole life policy's guaranteed elements include all of the following EXCEPT:
Guaranteed death benefit
Guaranteed cash value at each policy year
Guaranteed level premium
Guaranteed dividends
Question 3
In a universal life policy, what does Option B (sometimes called Option 2) typically provide at the insured's death?
The face amount only
The face amount plus the cash value
The face amount minus any outstanding loan
The greater of the face amount or the cash value times a corridor factor
Question 4
Which life insurance product allows the policyowner to direct cash value into separate-account subaccounts (mutual-fund-like investments) and therefore must be sold with a securities license and prospectus?
Indexed universal life (IUL)
Variable universal life (VUL)
Guaranteed universal life (GUL)
Participating whole life
Question 5
A policy fails the 7-pay test under IRC Section 7702A. As a result, the policy is treated as a Modified Endowment Contract (MEC). Which statement about a MEC is TRUE?
Death benefits paid to beneficiaries become taxable as ordinary income
Lifetime distributions, including loans, are taxed LIFO and may incur a 10% penalty before age 59 1/2
The policy automatically converts back to non-MEC status after 7 years
MECs lose all life insurance protection upon classification

Ready to test your knowledge?

Buy Now to Access

Additional Information

CIC Life & Health Practice Questions - CIC Life and Health Institute Exam

This practice set contains 100 questions from the matching question bank and focuses on life, insurance, policy, plan, and coverage. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

Related Quizzes

Archer Child Health Cardio/Respiratory Practice Exam
86 Qs  |  5 Min
Arizona Health Insurance Practice Exam
30 Qs  |  0 Min
Arizona Life and Health Practice Exam
25 Qs  |  0 Min
Certified Wildlife Rehabilitator Practice Test
40 Qs  |  0 Min
Certified in Healthcare Compliance (CHC) Practice Test
80 Qs  |  0 Min

Frequently Asked Questions

This quiz contains a total of 100 practice questions carefully selected to test your knowledge on this subject.
Yes, you will have exactly 0 minutes to complete the exam. A countdown timer will be visible once you start.
Yes, you can retake this practice test as many times as you need. The questions and options may be randomized on subsequent attempts to ensure comprehensive learning.

Reviews

5.0

Based on 0 reviews

Leave a Review

No reviews yet. Be the first to review!