K
CALIFORNIA LIFE AND
C
HEALTH FINAL EXAM
LO
QUESTIONS AND CORRECT
YC
VERIFIED ANSWERS 100%
GUARANTEED PASS A+
D
GRADED
U
ST
, Employer-provided group term life insurance is exempt from income taxation up to - ANS
$50,000
Medicare Part B has an initial enrollment period. How many months after an individual's 65th
K
birthday month does this enrollment period end? - ANS 3 months
Which statement is true regarding policy dividends? - ANS A dividend option is selected by the
C
insured at the time of policy purchase
What does the insurance term "indemnity" refer to? - ANS Make whole
LO
What is a common reason people purchase an annuity? - ANS To protect against the risk of
outliving their financial resources
The importance of a representation is demonstrated in what rule? - ANS Materiality of
YC
concealment
Who does a life settlement broker represent? - ANS Individual wanting to sell their life policy to
a third party
Who is financially liable for the payment of covered claims in a fully insured group health plan? -
D
ANS Insurer
The Human Life Value concept is based on - ANS income
U
Business Overhead Expense Insurance pays for - ANS business expenses when a business
owner becomes disabled
ST
At what point does a self-insured group qualify for stop-loss coverage? - ANS When claims
exceed a specified limit in a set period of time
What percentage of eligible employees must participate in a noncontributory group health plan
before it can be put in effect? - ANS 100%
A life insurance policy where the insured can choose where the cash value can be invested is
called - ANS variable life
CALIFORNIA LIFE AND
C
HEALTH FINAL EXAM
LO
QUESTIONS AND CORRECT
YC
VERIFIED ANSWERS 100%
GUARANTEED PASS A+
D
GRADED
U
ST
, Employer-provided group term life insurance is exempt from income taxation up to - ANS
$50,000
Medicare Part B has an initial enrollment period. How many months after an individual's 65th
K
birthday month does this enrollment period end? - ANS 3 months
Which statement is true regarding policy dividends? - ANS A dividend option is selected by the
C
insured at the time of policy purchase
What does the insurance term "indemnity" refer to? - ANS Make whole
LO
What is a common reason people purchase an annuity? - ANS To protect against the risk of
outliving their financial resources
The importance of a representation is demonstrated in what rule? - ANS Materiality of
YC
concealment
Who does a life settlement broker represent? - ANS Individual wanting to sell their life policy to
a third party
Who is financially liable for the payment of covered claims in a fully insured group health plan? -
D
ANS Insurer
The Human Life Value concept is based on - ANS income
U
Business Overhead Expense Insurance pays for - ANS business expenses when a business
owner becomes disabled
ST
At what point does a self-insured group qualify for stop-loss coverage? - ANS When claims
exceed a specified limit in a set period of time
What percentage of eligible employees must participate in a noncontributory group health plan
before it can be put in effect? - ANS 100%
A life insurance policy where the insured can choose where the cash value can be invested is
called - ANS variable life
