Free Life Insurance Exam Questions and Answers PDF (2026) - 180 Questions

If you are studying for your life insurance producer license, a printable question bank is one of the most efficient ways to review. This page gives you a free life insurance exam questions and answers PDF - 180 multiple-choice questions with the correct answer and a full explanation for every one - plus sample questions you can try right here.

Download the free Life Q&A PDF

What is inside the free Life PDF

180 multiple-choice questions covering the national Life content outline
The correct answer and a plain-English explanation for every question
A 124-page printable format you can study offline, with no registration or email required

What the life exam covers

Every Life producer exam is built from a national content outline plus a state-law section. The national topics in this question bank are:

Types of life insurance: term (level, decreasing, renewable, convertible), whole life, universal life, and variable products
Policy provisions, options, and riders: grace period, reinstatement, incontestability, settlement and nonforfeiture options, waiver of premium, and accelerated benefits
Beneficiaries: primary vs. contingent, revocable vs. irrevocable, and per stirpes vs. per capita
Underwriting and policy issue: insurable interest, applications, risk classification, and delivery
Annuities: immediate vs. deferred, fixed vs. variable, and payout options
Taxation: premiums, death benefits, cash value, policy loans, MECs, and 1035 exchanges
Producer ethics and the state-law section for your state

Sample life exam questions with answers

Try these five questions from the bank. The full PDF and the interactive tests on this site include many more.

Question 1: What is a 'contingent beneficiary'?

A. A temporary beneficiary designation
B. A beneficiary who receives partial benefits
C. A beneficiary who must meet certain conditions
D. A backup beneficiary who receives proceeds if the primary is deceased

Answer: D. A backup beneficiary who receives proceeds if the primary is deceased

Explanation: A contingent (or secondary) beneficiary receives the death benefit proceeds if the primary beneficiary predeceases the insured or is otherwise unable to receive the benefit.

Question 2: What is 'churning' in insurance?

A. Rapidly processing applications
B. Quickly paying claims
C. Mixing different policy types
D. Excessive replacement of policies to generate commissions

Answer: D. Excessive replacement of policies to generate commissions

Explanation: Churning is the unethical and often illegal practice of an agent inducing excessive policy replacements primarily to generate commissions, rather than for the client's benefit.

Question 3: What is a 'cross-purchase' buy-sell plan?

A. A discount for multiple purchases
B. Cross-border insurance purchases
C. An arrangement where each business owner purchases life insurance on the other owners
D. Purchasing policies across companies

Answer: C. An arrangement where each business owner purchases life insurance on the other owners

Explanation: In a cross-purchase plan, each business owner buys life insurance policies on the lives of the other owners. Upon an owner's death, the surviving owners use the death benefits to purchase the deceased's share.

Question 4: Who receives the death benefit when the insured dies, assuming the named person or entity is eligible and living?

A. The beneficiary
B. The underwriter
C. The producer
D. The reinsurer

Answer: A. The beneficiary

Explanation: The beneficiary is the person or entity designated to receive policy proceeds when the insured dies.

Question 5: During the accumulation period of a deferred annuity, the owner is primarily:

A. building value before income payments begin
B. receiving workers compensation benefits
C. filing a property claim
D. changing the insured every month

Answer: A. building value before income payments begin

Explanation: The accumulation period is the time when money is paid into the annuity and value builds before the payout phase begins.

Download all 180 Life questions (PDF)

How to use this PDF to study

Work in sets of 20-30 questions and mark your answers on paper before checking the key.
Read the explanation for every question, including the ones you answered correctly.
Note the topics you miss most, then re-study those sections of your state's official candidate handbook.
When you are ready for exam conditions, take a timed interactive mock exam on your state's practice page.

Looking for life practice in your state?

The PDF covers the national material. For your state's specific rules, use its practice page - each links to the official candidate handbook and adds state-law context:

Frequently asked questions

Is the life insurance PDF really free?

Yes. The PDF is free to download and share in its original form. There is no registration, email signup, or payment required.

How many questions are in the life insurance PDF?

The PDF contains 180 multiple-choice questions covering the national life insurance content outline, each with the correct answer and a full explanation.

Does the PDF include my state's questions?

The PDF covers the national portion of the exam that is the same in every state. For state-specific rules, use your state's practice page - each links to that state's official candidate handbook.

Is this enough to pass the life insurance exam?

The question bank is a strong core, but pair it with your state's official content outline and the timed interactive mock exams on this site for the best preparation.

This PDF and the practice tests are an independent study resource. They are not affiliated with any state insurance department or exam vendor. Always verify current licensing requirements, fees, and exam details with your state insurance department and the official candidate handbook.