Life Agent — Information & Free Practice
US-TN · Examination information
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Life Agent
- Provider
- Pearson VUE
- Format
- Multiple choice; test center or OnVUE
- Exam questions
- 68 scored questions and 9 pretest questions: 50 scored plus 5 pretest general knowledge; 18 scored plus 4 pretest Tennessee specific
- Time limit
- 1 hour and 45 minutes
- Passing score
- 70 on the scaled score system
- Exam fee
- $55
Examination outline
I. TYPES OF POLICIES
- A. Traditional whole life products
- A. Traditional whole life products / 1. Ordinary whole life
- A. Traditional whole life products / 2. Limited-pay and single-premium life
- B. Interest/market-sensitive/adjustable life products
- B. Interest/market-sensitive/adjustable life products / 1. Universal life
- B. Interest/market-sensitive/adjustable life products / 2. Variable whole life
- B. Interest/market-sensitive/adjustable life products / 3. Variable universal life
- B. Interest/market-sensitive/adjustable life products / 4. Interest-sensitive whole life
- B. Interest/market-sensitive/adjustable life products / 5. Indexed life
- C. Term life
- C. Term life / 1. Types
- C. Term life / 1. Types / a. Level
- C. Term life / 1. Types / b. Decreasing
- C. Term life / 1. Types / c. Return of premium
- C. Term life / 1. Types / d. Annually renewable
- C. Term life / 2. Special features
- C. Term life / 2. Special features / a. Renewable
- C. Term life / 2. Special features / b. Convertible
- D. Annuities
- D. Annuities / 1. Single and flexible premium
- D. Annuities / 2. Immediate and deferred
- D. Annuities / 3. Fixed and variable
- D. Annuities / 4. Indexed
- D. Annuities / 5. Accumulation and Annuity Periods
- D. Annuities / 6. Payout options
- E. Combination plans and variations
- E. Combination plans and variations / 1. Joint life (first to die)
- E. Combination plans and variations / 2. Survivorship life (second to die)
II. POLICY RIDERS, PROVISIONS, OPTIONS, AND EXCLUSIONS
- A. Policy riders
- A. Policy riders / 1. Waiver of premium and waiver of monthly deduction
- A. Policy riders / 2. Guaranteed insurability
- A. Policy riders / 3. Payor benefit
- A. Policy riders / 4. Accidental death and/or accidental death and dismemberment
- A. Policy riders / 5. Term riders
- A. Policy riders / 6. Other insureds
- A. Policy riders / 7. Long term care
- A. Policy riders / 8. Return of premium
- A. Policy riders / 9. Disability
- A. Policy riders / 10. Cost of Living
- B. Policy provisions and options
- B. Policy provisions and options / 1. Entire contract
- B. Policy provisions and options / 2. Insuring clause
- B. Policy provisions and options / 3. Free look
- B. Policy provisions and options / 4. Consideration
- B. Policy provisions and options / 5. Owner’s rights
- B. Policy provisions and options / 6. Beneficiary designations
- B. Policy provisions and options / 6. Beneficiary designations / a. Primary and contingent
- B. Policy provisions and options / 6. Beneficiary designations / b. Revocable and irrevocable
- B. Policy provisions and options / 6. Beneficiary designations / c. Common disaster
- B. Policy provisions and options / 6. Beneficiary designations / d. Minor beneficiaries
- B. Policy provisions and options / 6. Beneficiary designations / e. Designation by class
- B. Policy provisions and options / 7. Premium Payment
- B. Policy provisions and options / 7. Premium Payment / a. Modes
- B. Policy provisions and options / 7. Premium Payment / b. Grace period
- B. Policy provisions and options / 7. Premium Payment / c. Automatic premium loan
- B. Policy provisions and options / 7. Premium Payment / d. Level or flexible
- B. Policy provisions and options / 8. Reinstatement
- B. Policy provisions and options / 9. Policy loans, withdrawals, partial surrenders
- B. Policy provisions and options / 10. Non-forfeiture options
- B. Policy provisions and options / 11. Dividends and dividend options (e.g., participating, non-participating)
- B. Policy provisions and options / 12. Incontestability
- B. Policy provisions and options / 13. Assignments
- B. Policy provisions and options / 14. Suicide
- B. Policy provisions and options / 15. Misstatement of age and gender
- B. Policy provisions and options / 16. Settlement options
- B. Policy provisions and options / 17. Accelerated death benefits
- C. Policy exclusions
- C. Policy exclusions / 1. War
- C. Policy exclusions / 2. Aviation
- C. Policy exclusions / 3. Dangerous Occupation
III. COMPLETING THE APPLICATION, UNDERWRITING, AND DELIVERING THE POLICES
- A. Completing the application
- A. Completing the application / 1. Required signatures
- A. Completing the application / 2. Changes in the application
- A. Completing the application / 3. Consequences of incomplete applications
- A. Completing the application / 4. Warranties and representations
- A. Completing the application / 5. Collecting the initial premium and issuing the receipt
- A. Completing the application / 6. Replacement
- A. Completing the application / 7. Disclosures at point of sale (e.g., HIPAA, HIV consent)
- A. Completing the application / 8. USA PATRIOT Act/anti-money laundering
- A. Completing the application / 9. Gramm-Leach-Bliley Act (GLBA) Privacy
- B. Underwriting
- B. Underwriting / 1. Insurable interest
- B. Underwriting / 2. Medical information and consumer reports
- B. Underwriting / 3. Fair Credit Reporting Act
- B. Underwriting / 4. Risk classification
- B. Underwriting / 5. Stranger/Investor-owned life insurance (STOLI/IOLI)
- C. Delivering the policy
- C. Delivering the policy / 1. When coverage begins
- C. Delivering the policy / 2. Explaining the policy and its provisions, riders, exclusions, and ratings to the client
- D. Contract law
- D. Contract law / 1. Elements of a contract
- D. Contract law / 1. Elements of a contract / a. Consideration
- D. Contract law / 1. Elements of a contract / b. Offer and Acceptance
- D. Contract law / 1. Elements of a contract / c. Competent parties
- D. Contract law / 1. Elements of a contract / d. Legal purpose
- D. Contract law / 2. Unique aspects of the insurance contract
- D. Contract law / 2. Unique aspects of the insurance contract / a. Conditional
- D. Contract law / 2. Unique aspects of the insurance contract / b. Unilateral
- D. Contract law / 2. Unique aspects of the insurance contract / c. Adhesion
- D. Contract law / 2. Unique aspects of the insurance contract / d. Aleatory
IV. RETIREMENT AND OTHER INSURANCE CONCEPTS
- A. Third-party ownership
- B. Life Settlements
- C. Group life insurance
- C. Group life insurance / 1. Conversion privilege
- C. Group life insurance / 2. Contributory vs. noncontributory
- D. Retirement plans
- D. Retirement plans / 1. Qualified plans
- D. Retirement plans / 2. Nonqualified plans
- E. Life insurance needs analysis/suitability
- E. Life insurance needs analysis/suitability / 1. Personal insurance needs
- E. Life insurance needs analysis/suitability / 2. Business insurance needs
- E. Life insurance needs analysis/suitability / 2. Business insurance needs / a. Key person
- E. Life insurance needs analysis/suitability / 2. Business insurance needs / b. Buy sell
- F. Social Security benefits
- G. Tax treatment of insurance premiums, proceeds, and dividends
- G. Tax treatment of insurance premiums, proceeds, and dividends / 1. Individual life
- G. Tax treatment of insurance premiums, proceeds, and dividends / 2. Group life
- G. Tax treatment of insurance premiums, proceeds, and dividends / 3. Modified Endowment Contracts (MECs)
V. TENNESSEE LAWS, AND DEPARTMENTAL RULES COMMON TO LIFE, ACCIDENT AND HEALTH, PROPERTY AND CASUALTY INSURANCE
- A. Powers of Commissioner
- A. Powers of Commissioner / 1. Hearings and judicial review
- A. Powers of Commissioner / 2. Investigations
- A. Powers of Commissioner / 3. Regulatory authority
- A. Powers of Commissioner / 4. Penalties
- B. Definitions
- B. Definitions / 1. Insurance Producer
- B. Definitions / 2. Business Entity
- B. Definitions / 3. Limited Lines Producer
- B. Definitions / 4. Unauthorized insurer
- B. Definitions / 5. Compensation and referrals
- B. Definitions / 6. Fiduciary
- B. Definitions / 7. Domestic and Foreign Insurance Companies
- C. License Requirements
- C. License Requirements / 1. Insurance Producer
- C. License Requirements / 2. Agency Appointments/Termination
- C. License Requirements / 3. Resident/nonresident
- C. License Requirements / 4. Exceptions
- C. License Requirements / 4. Exceptions / a. Licenses
- C. License Requirements / 4. Exceptions / b. Examination
- C. License Requirements / 5. Temporary license
- C. License Requirements / 6. License renewal
- C. License Requirements / 7. General requirements
- C. License Requirements / 8. Continuing Education
- D. License Suspension/Revocation
- D. License Suspension/Revocation / 1. General provisions
- D. License Suspension/Revocation / 2. Notice
- E. Unfair Practices
- E. Unfair Practices / 1. False advertising
- E. Unfair Practices / 2. Defamation
- E. Unfair Practices / 3. Boycotting, coercion, and intimidation
- E. Unfair Practices / 4. Unfair Discrimination
- E. Unfair Practices / 5. Rebating
- E. Unfair Practices / 6. Unfair claims settlement practices
- E. Unfair Practices / 7. Other topics
- F. Life and Health Guaranty Association
VI. TENNESSEE LAWS AND DEPARTMENTAL RULES PERTINENT TO LIFE INSURANCE ONLY
- A. Required Provisions
- B. Definitions
- C. Disclosure requirements
- D. General rules
- E. Replacement
- E. Replacement / 1. Exemptions
- E. Replacement / 2. Duties of producers
- E. Replacement / 3. Definitions
- F. Annuities
- F. Annuities / 1. Licensing
- F. Annuities / 2. Suitability
Examination sources
- Tennessee Insurance Licensing Candidate Handbook
Outline cover, effective date
- Tennessee Insurance Licensing Candidate Handbook
Exam Structure and Content, whole examination, p. 15
- Tennessee Insurance Licensing Candidate Handbook
Life outline section 1, pp. S1-S3
- Tennessee Insurance Licensing Candidate Handbook
Life outline section 2, pp. S1-S3
- Tennessee Insurance Licensing Candidate Handbook
Life outline section 3, pp. S1-S3
- Tennessee Insurance Licensing Candidate Handbook
Life outline section 4, pp. S1-S3
- Tennessee Insurance Licensing Candidate Handbook
Life outline section 5, pp. S1-S3
- Tennessee Insurance Licensing Candidate Handbook
Life outline section 6, pp. S1-S3
- Tennessee Insurance Licensing Candidate Handbook
Exam Structure and Content, multiple choice, p. 15
- Tennessee Insurance Licensing Candidate Handbook
Exam Structure and Content, answer scoring, p. 15
- Tennessee Insurance Licensing Candidate Handbook
Scaled Scores, passing standard, p. 13
- Tennessee Insurance Licensing Candidate Handbook
Exam Fees and Combinations, Life row, p. 7
- Tennessee Insurance Licensing Candidate Handbook
Exam Fees and Combinations, standalone-session note, p. 7
- Tennessee Insurance Licensing Candidate Handbook
Score Reporting, p. 12
Related license preparation
This examination may be required or accepted as an alternative, depending on the license and application pathway.