CHEAT SHEET · LIFE ONLY
Life Only Cheat Sheet.
The night-before summary, built like the exam.
Weighted to the 2026 outline·15-minute scan·Verified 2026
On this sheet
01
Exam blueprint — study by weight
The bar is the exam — spend your hours where the questions are. Weights follow the 2026 outline.
18%Riders, Provisions & Exclusions~27 q▾
- Waiver of premium, GIR, accidental death riders
- Nonforfeiture options: cash · reduced paid-up · extended term
- Dividend options; loan & automatic premium loan
17%Life Policy Types~26 q▾
- Term (level/decreasing/renewable) vs whole vs universal
- Variable products = securities registration required
- Annuities: immediate/deferred · fixed/indexed/variable
15%Life Insurance Basics~22 q▾
- Insurable interest at application; consideration
- Underwriting, conditional receipts, backdating limits
- Human life value vs needs approach
15%Health Policy Provisions~22 q▾
- 12 mandatory uniform provisions (grace, reinstatement…)
- Renewability ladder: cancellable → guaranteed renewable
- Coordination of benefits; pre-existing limits
13%State Law & Ethics~20 q▾
- Producer licensing, appointments, continuing ed
- Unfair trade practices: rebating, twisting, churning
- Your state's variant changes this section
12%Health & Disability Basics~18 q▾
- Deductible → coinsurance → stop-loss math
- Own-occ vs any-occ disability definitions
- HMO / PPO / POS network rules
10%Medicare, Medicaid & LTC~15 q▾
- Parts A–D · Medigap open enrollment (6 mo from Part B)
- LTC benefit triggers = 2 of 6 ADLs
02
Quick facts
80
Scored questions
2h m
Time limit
70% (60% in CA)
Passing score
$39
Exam fee
State DOI
Governing body
60%
Pass rate
03
Annuity Picker
the scenario questions, as a decision pathQuestion 1 / 3
When does the client need the income to start?
04
Side-by-sides the exam loves
| Term | Whole | Universal | |
|---|---|---|---|
| Premium | Lowest; level for the term | Level, highest; fixed for life | Flexible — payer adjusts |
| Duration | 10–30 yrs, then expires | Lifetime (to age 100/121) | Lifetime if adequately funded |
| Cash value | None | Guaranteed, tax-deferred | Current interest, not guaranteed |
| Best when | "Temporary need" · "most coverage per dollar" | "Permanent need" · "guaranteed values" | "Flexible premium" · "adjustable death benefit" |
Keyword decoder — the question's adjective is the answer: temporary/cheapest → Term · lifetime/guaranteed → Whole · flexible/adjustable → Universal.
05
Common traps
what test-writers bet you'll get wrongT1
✗ Sounds right — "the free look period starts at application"
✓ Exam wants — it starts at policy DELIVERY (10 days; 30 for replacements)
T2
✗ Sounds right — "universal life premiums are fixed"
✓ Exam wants — UL premiums are FLEXIBLE — whole life is the fixed one
T3
✗ Sounds right — "a variable annuity just needs an insurance license"
✓ Exam wants — it's a security — FINRA registration required too
T4
✗ Sounds right — "Medicare Part B covers the hospital stay"
✓ Exam wants — Part A = hospital inpatient · Part B = outpatient/medical
T5
✗ Sounds right — "term life builds some cash value over time"
✓ Exam wants — term is pure protection — zero cash value, ever
T6
✗ Sounds right — "guaranteed insurability rider requires new underwriting"
✓ Exam wants — that's the point of the rider — more coverage, NO new proof
06
Last-minute checklist
0/12Tap each once you can recite it cold. Progress saves on this device.
Numbers to memorize
Rules that trip people
All 12 locked in?
Prove it — a 10-question mixed set takes a few minutes.
07