Life and Health Insurance Exam Study Guide

Digital download. No printed book will be shipped. Review life and health exam topics in one 89-page PDF, with written practice questions, answers and rationales.

Inside the PDF

• Insurance and contract basics, life policies, annuities, provisions and underwriting.
• Retirement and tax topics, disability income and medical-plan comparisons.
• Group health, Medicare, Medigap, long-term care, ethics and federal-law study topics.
• 150 authored practice questions with answers and rationales, nine worked examples and internal review references.

General-knowledge portion only. State insurance-law study materials are not included. Use your state candidate handbook and required training for state-specific requirements.

All listed notes, practice and review references are inside this one PDF. No separate flashcards, planner, course, exam voucher or license is included. Use alongside official exam materials and your required training. Confirm the current outline and requirements for your license, testing provider and jurisdiction before choosing this edition. This is an educational study aid, not personal insurance, legal, tax or financial advice. Purchasing it does not guarantee a passing result.

Independent study aid

This is an independent study aid created to supplement, not replace, your pre-licensing course and official exam materials. BusyExamPrep is not affiliated with or endorsed by Pearson VUE, Prometric, PSI, the NAIC or any state insurance department. Pearson VUE, Prometric, PSI and NAIC are trademarks of their respective owners. State laws vary, so always check your state insurance department and your candidate handbook.

Digital delivery

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Personal use only. Making copies for other individuals, sharing files or download links, distributing or reselling these materials is not allowed.

Last updated: October 2026.

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All sales are final. No refunds, returns, exchanges or cancellations on digital downloads or printed books.

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This life and health insurance exam study guide covers the general-knowledge (national) portion of the producer licensing exam, area by area, so it works in any state. It follows the current Pearson VUE life and health general-knowledge content outline in order and in proportion, and maps the Prometric and PSI outlines onto the same sections. Built for pre-licensing students, career changers and anyone retaking the exam.

89 pages. 150 exam-style practice questions, weighted like the real outline (half life, half health), with an answer key and a rationale for every item, plus 9 fully worked examples.

WHAT'S INSIDE
• How the exam works with each major testing vendor: item counts, time limits, passing scores, test-day rules, retakes and how the state portion fits
• All three vendor outlines in tables, with item counts and weights, mapped to the sections of this guide
• Insurance and contract basics: risk, hazards, insurable risks, reinsurance, types of insurers, agency and authority, the four elements of a contract, adhesion, aleatory, representations vs warranties, waiver and estoppel
• Life policy types: term (level, decreasing, annually renewable, return of premium, renewable and convertible), whole life, universal, indexed, variable and variable universal life, joint and survivorship life, with a drawn level-premium chart
• Annuities: fixed, indexed and variable, immediate vs deferred, payout options, surrender charges and the best-interest suitability standard
• Life provisions, riders and options: grace period, reinstatement, incontestability, suicide, misstatement of age, beneficiaries, common disaster, assignments, loans, nonforfeiture, dividends, settlement options (including retained asset accounts), backdating, accelerated benefits, waiver of premium, guaranteed insurability and more
• Application, underwriting and delivery: receipts and when coverage starts, buyer's guides and illustrations, replacement, MIB, the Fair Credit Reporting Act, USA PATRIOT Act anti-money-laundering rules, Gramm-Leach-Bliley privacy, risk classes and STOLI
• Retirement and taxation: group life, key person and buy-sell plans, qualified and nonqualified plans, IRAs and Roth IRAs, RMDs and rollovers, Social Security, taxation of life insurance and annuities, the exclusion ratio, MECs and 1035 exchanges
• Disability income: own occ vs any occ, elimination and benefit periods, residual and recurrent disability, business overhead and buy-out coverage, AD&D, SSDI and workers' compensation
• Medical plans: cost sharing, HMO, PPO, POS and EPO, HSAs, HRAs and FSAs, and ACA essentials (EHB, rating rules, age 26, metal levels, the Marketplace)
• Group health, COBRA, HIPAA, dental, vision and limited policies
• Medicare Parts A to D with 2026 figures, a Medigap plan chart, Medicaid, and long-term care insurance
• The uniform health policy provisions with a claims timeline, renewability types, coordination of benefits and health insurance taxation
• A federal law and ethics roundup (unfair trade practices such as twisting, churning and rebating), a state-portion checklist, a cram sheet, a numbers-to-know table, 2026 dollar figures and a 78-term glossary
• Sources page listing the laws, regulations and official materials the facts were checked against

HOW IT'S BUILT
• 70 tables and 10 drawn diagrams, including a blueprint chart, level-premium chart, annuity timeline, nonforfeiture options, receipts flowchart, disability timeline, cost-sharing example, COBRA chart, Medicare map and claims timeline
• Color-coded key fact, exam tip, common trap and memory aid boxes
• Every calculation worked step by step and recomputed
• Facts checked against the IRS, CMS and Medicare.gov, the Social Security Administration, the Department of Labor, HHS, eCFR, the U.S. Code and NAIC model laws
• A score-by-area table so you know exactly what to reread

HOW YOU GET IT
One PDF, letter size. Print at home or study on a tablet or phone.

This is an independent study aid created to supplement, not replace, your pre-licensing course and official exam materials. BusyExamPrep is not affiliated with or endorsed by Pearson VUE, Prometric, PSI, the NAIC or any state insurance department. Pearson VUE, Prometric, PSI and NAIC are trademarks of their respective owners. State laws vary, so always check your state insurance department and your candidate handbook.
For personal study use only. Please do not resell, share, or redistribute the files.