WV Life & Health study plan

Define the core life insurance parties and terms (owner, insured, beneficiary, face amount, cash value, premium) and attach each to a concrete policy example.

Differentiate term, whole life, universal life, indexed universal life, and variable life by premium flexibility, cash value behavior, and death benefit structure.

Explain life underwriting mechanics: insurable interest, field underwriting, the conditional receipt, delivery and policy effective date, and replacement/STOLI concerns.

Trace the application-to-issue sequence and identify what happens to the premium at each stage.

Answer 40 practice questions on Life Basics and Life Policies and log the reason for every miss.

State the exact time limit and effect of each major life provision: entire contract, incontestability, grace period, reinstatement, misstatement of age/sex, and suicide clause.

Compare nonforfeiture options, dividend options, and settlement options, and compute a sample payout under each settlement option.

Match riders (waiver of premium, disability income, accidental death, guaranteed insurability, long-term care, return of premium, child term) to the specific gap each fills.

Summarize producer regulation: licensing and appointment, continuing education, fiduciary and suitability duties, unfair trade practices, and replacement disclosure rules.

Work 50 mixed questions across Provisions/Options/Riders and Regulation, then rewrite the rationale for every missed item in your own words.

Contrast immediate vs. deferred, fixed vs. variable vs. indexed, and single vs. flexible premium annuities on payout start and who bears investment risk.

Solve payout problems given accumulation value, payout period, and payment frequency, and explain the exclusion ratio.

Distinguish surrender charges, free withdrawal provisions, annuitization, and lump-sum election, and describe annuity taxation and death benefit treatment.

Apply general insurance concepts: risk, peril, hazard, indemnity, insurable interest, adverse selection, utmost good faith, and the difference between stock and mutual insurers.

Complete a 40-question quiz on Annuities and General Concepts and score every missed math item by hand.

Classify health plan structures (indemnity, HMO, PPO, POS, EPO) by network rules, referrals, and cost-sharing design.

List the mandatory and optional health policy provisions and state the free-look, grace, reinstatement, and claims time frames.

Explain coordination of benefits, preexisting condition treatment, and the order in which payers determine benefits.

Calculate member out-of-pocket cost across deductible, copay, coinsurance, and out-of-pocket maximum in five different scenarios.

Answer 50 mixed questions on Health Basics and Health Provisions and tag each miss to a named provision or plan type.

Distinguish own-occupation, any-occupation, split, and residual disability definitions and predict benefit eligibility under each.

Compute disability income benefits using elimination period, benefit period, benefit percentage, and residual/partial formulas.

Compare medical expense products: major medical, hospital indemnity, critical illness, accident, and long-term care, including what each excludes.

Map Medicare Parts A-D, eligibility, enrollment windows, and Medigap basics, and outline Medicaid's distinct role.

Apply health insurance tax rules to employer-paid premiums, HSA contributions, self-employed deductions, benefits received, and business overhead policies.

Build a side-by-side table comparing life and health provisions that share a name (grace period, reinstatement, incontestability, misstatement of age) and isolate how they differ.

Re-derive from memory every time limit and provision consequence in Domains 5 and 8 without notes.

Re-work every question missed in Weeks 1 through 5 and classify each miss as knowledge gap, misread stem, or math error.

Drill 40 new questions weighted toward provisions, riders, and health policy limits.

Re-memorize licensing, appointment, CE, and unfair trade practice rules using spaced-repetition flashcards.

Refresh general concepts vocabulary and re-teach risk, hazard, and indemnity in plain language out loud.

Sit two timed 100-question cumulative exams under real test conditions with no notes.

Analyze the error log to rank your five weakest topics and write one corrective action per topic.

Re-drill the two lowest-scoring domains from your Week 7 error log (default: Annuities and Group/Medicare/Tax) until each hits 85%.

Recite the 20 highest-frequency facts you have missed most often, from memory, in under five minutes.

Complete one final timed 100-question exam and review only the missed items.

Confirm exam-day logistics and set a sleep and arrival plan for test day.