California Insurance State Exam | 185 Questions with 100% Correct Answers | Verified | Latest Update 2024

Which of the following is NOT a benefit of insurance - Losses due to fraud are eliminated An individual that has 40 quarters of coverage for social security purposes it's considered to be - Fully insured Anyone employed in California to assist an insurance agent in transacting insurance is called an insurance - solicitor A contracts requires - An offer and acceptance of the contract terms What area of group health insurance is regulated under the Employee Retirement Security Act of 1974 (ERISA)? - Disclosure and reporting Which of the following is NOT a feature of equity - indexed annuities - Offers a maximum interest rate that increases annually Which of the following best describes the statement "the more times an event is repeated, the more predictable the outcome becomes"? - Law of large numbers Before an insurer is allowed to test an individual for HIV, what must be completed? - consent form Which of the following is NOT a true description of non- medical life insurance - Applicants are not required to answer medical questions on the application When calculating life insurance premium rates, which component is affected by an insured's age and gender? - Mortality