CA LIFE AND HEALTH INSURANCE EXAM 3 LATEST VERSIONS (VERSION A, B AND C)
ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES
(VERIFIED ANSWERS) |ALREADY GRADED A
Fraternal Benefit Society - (ANSWER)What is an organization that solicits insurance only to its members?
An individual policy is given to each member - (ANSWER)All of the following statements regarding group
health insurance is true, EXCEPT:
31 days - (ANSWER)According to the Mandatory Uniform Policy Provisions, what is the maximum
amount of time after the premium due date during which the policy remains in force even though the
premium has not been paid?
Return to the customer, collect a new check made out to the insurance company, and send the new
check out ot the insurance company - (ANSWER)Agent J takes an application and initial premium from
an applicant and sends the application and premium check to the insurance company. The insurance
company returns the check back to J because the check is made out to J instead of the insurance
compnay. What action should J take?
Payor Clause - (ANSWER)Which of the following provisions guarantees that premiums will be waived if a
Juvenile Life Policyowner becomes disabled?
may cancel the policy for nonpayment only - (ANSWER)Under a Guaranteed Renewable health insurance
policy, the insurer
a representation - (ANSWER)A statement made by an insured in an insurance application that must be
true to the best of one's knowledge and which becomes a part of the contract is known as:
,CA LIFE AND HEALTH INSURANCE EXAM 3 LATEST VERSIONS (VERSION A, B AND C)
ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES
(VERIFIED ANSWERS) |ALREADY GRADED A
conditional, depending on the insurer's underwriting guidlines - (ANSWER)T ius given a receipt after
completing a life insurance application and paying the initial premium. Under this situation, T's coverage
is
Benefit's are taxable to T - (ANSWER)T is reciving $3,000/month from a Disability Income policy in which
T's employer had paid the premiums. How are the $3,000 benefits payments taxable?
An insurer may not use suicide as a defense against payment after the second year - (ANSWER)In Texas,
which of these statements regarding the Suicide clause is TRUE?
Fiduciary responsibility - (ANSWER)Taking recipt of premiums and holding them for the insurance
comoany is an example of:
Insuring - (ANSWER)The ______ clause identifies which losses resulting from an accident or sickness are
insured by the policy.
The premium has not been paid by the insured - (ANSWER)A Medicare Supplement policy may be
cancelled for which of the following reasons?
Transportation to and from a treatment facility - (ANSWER)Which of the following benefits is NOT
required under a group health plan for drug and alcohol treatment?
notify an insurer of a claim within a specified time - (ANSWER)The Notice of Claims provision requires a
policyowner to:
, CA LIFE AND HEALTH INSURANCE EXAM 3 LATEST VERSIONS (VERSION A, B AND C)
ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES
(VERIFIED ANSWERS) |ALREADY GRADED A
Proceeds will be paid to P's estate - (ANSWER)K is the insured and P is the sole beneficiary of an
Accidental Death and Dismemberment (AD&D) insurance policy. Both are involved in a fatal accident
where K dies before P. Under the Common Disaster provision, which of these statements is true?
individuals who are blood related - (ANSWER)Which of the following groups may NOT be insured by a
group life insurance policy?
correct the information and have the prospect initial the change - (ANSWER)D the agent met with a
prospect and ended up selling an insurance policy. When filling out the insurance application, D makes a
mistake. In this situatuion, D MUST
Wait at least 5 years before applying for a new license - (ANSWER)What is required for an agent whose
license has been revoked?
prevents an insured covered by two health plans from making a profit on a covered loss - (ANSWER)The
Coordination of Benefits provision:
Any changes made on the application require the applicant's initials - (ANSWER)When an insurance
application is taken by a producer, which of these statements is true?
Morbidity rate - (ANSWER)Which of these is NOT an element of Life insurance premiums?
31 days - (ANSWER)Every 12-months after the initial enrollment period, an HMO must hold an open
enrollment period of
ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES
(VERIFIED ANSWERS) |ALREADY GRADED A
Fraternal Benefit Society - (ANSWER)What is an organization that solicits insurance only to its members?
An individual policy is given to each member - (ANSWER)All of the following statements regarding group
health insurance is true, EXCEPT:
31 days - (ANSWER)According to the Mandatory Uniform Policy Provisions, what is the maximum
amount of time after the premium due date during which the policy remains in force even though the
premium has not been paid?
Return to the customer, collect a new check made out to the insurance company, and send the new
check out ot the insurance company - (ANSWER)Agent J takes an application and initial premium from
an applicant and sends the application and premium check to the insurance company. The insurance
company returns the check back to J because the check is made out to J instead of the insurance
compnay. What action should J take?
Payor Clause - (ANSWER)Which of the following provisions guarantees that premiums will be waived if a
Juvenile Life Policyowner becomes disabled?
may cancel the policy for nonpayment only - (ANSWER)Under a Guaranteed Renewable health insurance
policy, the insurer
a representation - (ANSWER)A statement made by an insured in an insurance application that must be
true to the best of one's knowledge and which becomes a part of the contract is known as:
,CA LIFE AND HEALTH INSURANCE EXAM 3 LATEST VERSIONS (VERSION A, B AND C)
ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES
(VERIFIED ANSWERS) |ALREADY GRADED A
conditional, depending on the insurer's underwriting guidlines - (ANSWER)T ius given a receipt after
completing a life insurance application and paying the initial premium. Under this situation, T's coverage
is
Benefit's are taxable to T - (ANSWER)T is reciving $3,000/month from a Disability Income policy in which
T's employer had paid the premiums. How are the $3,000 benefits payments taxable?
An insurer may not use suicide as a defense against payment after the second year - (ANSWER)In Texas,
which of these statements regarding the Suicide clause is TRUE?
Fiduciary responsibility - (ANSWER)Taking recipt of premiums and holding them for the insurance
comoany is an example of:
Insuring - (ANSWER)The ______ clause identifies which losses resulting from an accident or sickness are
insured by the policy.
The premium has not been paid by the insured - (ANSWER)A Medicare Supplement policy may be
cancelled for which of the following reasons?
Transportation to and from a treatment facility - (ANSWER)Which of the following benefits is NOT
required under a group health plan for drug and alcohol treatment?
notify an insurer of a claim within a specified time - (ANSWER)The Notice of Claims provision requires a
policyowner to:
, CA LIFE AND HEALTH INSURANCE EXAM 3 LATEST VERSIONS (VERSION A, B AND C)
ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES
(VERIFIED ANSWERS) |ALREADY GRADED A
Proceeds will be paid to P's estate - (ANSWER)K is the insured and P is the sole beneficiary of an
Accidental Death and Dismemberment (AD&D) insurance policy. Both are involved in a fatal accident
where K dies before P. Under the Common Disaster provision, which of these statements is true?
individuals who are blood related - (ANSWER)Which of the following groups may NOT be insured by a
group life insurance policy?
correct the information and have the prospect initial the change - (ANSWER)D the agent met with a
prospect and ended up selling an insurance policy. When filling out the insurance application, D makes a
mistake. In this situatuion, D MUST
Wait at least 5 years before applying for a new license - (ANSWER)What is required for an agent whose
license has been revoked?
prevents an insured covered by two health plans from making a profit on a covered loss - (ANSWER)The
Coordination of Benefits provision:
Any changes made on the application require the applicant's initials - (ANSWER)When an insurance
application is taken by a producer, which of these statements is true?
Morbidity rate - (ANSWER)Which of these is NOT an element of Life insurance premiums?
31 days - (ANSWER)Every 12-months after the initial enrollment period, an HMO must hold an open
enrollment period of
