CALIFORNIA LIFE ACCIDENT AND HEALTH INSURANCE
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
CALIFORNIA LIFE ACCIDENT AND HEALTH INSURANCE
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
The gap between a universal life policy’s total death benefit and the
policy’s cash value - ANSWER ->Corridor
Normally used to pay off a mortgage balance in the event of death of
the insured - ANSWER ->Decreasing term insurance
When does an insurance policy typically become effective - ANSWER
>Premium is collected and policy issued
Allows both spouse and child to be added to the primary insureds
coverage - ANSWER ->Family term
When selling a long term care insurance policy, an insurer must offer to
a prospective insured what? - ANSWER ->An inflation benefit
Any producer who provides a client with a kickback of commissions has
engaged in what? - ANSWER ->Contempt of court
CALIFORNIA LIFE ACCIDENT AND HEALTH INSURANCE
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
, CALIFORNIA LIFE ACCIDENT AND HEALTH
INSURANCE
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
A policy that has premiums fully paid up within a stated time period -
ANSWER ->Limited payment insurance
A temporary insurance producer license may be issued for up to ___
days - ANSWER ->180 days
A rollover from a traditional IRA to another IRA must be done within __
days to avoid consequences - ANSWER ->60 days
A resident insurance producer shall keep records of insurance
transacted by the insurance producer under the license for - ANSWER
>5 years following the transaction
Which type of annuity guarantees a stated number of income
payments, whether or not the annuitant is still alive to receive them? -
ANSWER ->Life Annuity Certain
What is an insurer required to do when faced with an error made under
the Misstatement of Age provision? - ANSWER ->Pay age-corrected
benefits
Pays a death claim in the amount of the death plus the savings element
- ANSWER ->Universal life policy
CALIFORNIA LIFE ACCIDENT AND HEALTH INSURANCE
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
, CALIFORNIA LIFE ACCIDENT AND HEALTH INSURANCE
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
Allows insured to purchas additional amounts of disability income
insurance at future dates - ANSWER ->Guaranteed Insurability Rider
A type of group that has a constitution and bylaws and has been
organized for purposes other than obtaining insurance is called a(n) -
ANSWER ->Association or labor group
should the owner be disabled and cant earn an income, after 6 months,
all premiums will be paid by the insurer during the disability period;
After 6 months, the premiums will be repaid - ANSWER ->Waiver of
Premium Rider
If the annuitant dies before the annuity start date, - ANSWER ->the
premiums paid plus interest earned will be given to the beneficiary An
individual holding a producers license may represent which of the
following? - ANSWER ->An appointing insurer
A condition which limits the company's liability to provide coverage -
ANSWER ->Exclusion
Best suited for policy owners whose main concern is death protection -
ANSWER ->Life insurance net payment cost index
A whole life insurance policy where the premiums are paid up after 20
years would be considered what? - ANSWER ->limited pay life insurance
CALIFORNIA LIFE ACCIDENT AND HEALTH INSURANCE
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
CALIFORNIA LIFE ACCIDENT AND HEALTH INSURANCE
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
The gap between a universal life policy’s total death benefit and the
policy’s cash value - ANSWER ->Corridor
Normally used to pay off a mortgage balance in the event of death of
the insured - ANSWER ->Decreasing term insurance
When does an insurance policy typically become effective - ANSWER
>Premium is collected and policy issued
Allows both spouse and child to be added to the primary insureds
coverage - ANSWER ->Family term
When selling a long term care insurance policy, an insurer must offer to
a prospective insured what? - ANSWER ->An inflation benefit
Any producer who provides a client with a kickback of commissions has
engaged in what? - ANSWER ->Contempt of court
CALIFORNIA LIFE ACCIDENT AND HEALTH INSURANCE
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
, CALIFORNIA LIFE ACCIDENT AND HEALTH
INSURANCE
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
A policy that has premiums fully paid up within a stated time period -
ANSWER ->Limited payment insurance
A temporary insurance producer license may be issued for up to ___
days - ANSWER ->180 days
A rollover from a traditional IRA to another IRA must be done within __
days to avoid consequences - ANSWER ->60 days
A resident insurance producer shall keep records of insurance
transacted by the insurance producer under the license for - ANSWER
>5 years following the transaction
Which type of annuity guarantees a stated number of income
payments, whether or not the annuitant is still alive to receive them? -
ANSWER ->Life Annuity Certain
What is an insurer required to do when faced with an error made under
the Misstatement of Age provision? - ANSWER ->Pay age-corrected
benefits
Pays a death claim in the amount of the death plus the savings element
- ANSWER ->Universal life policy
CALIFORNIA LIFE ACCIDENT AND HEALTH INSURANCE
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
, CALIFORNIA LIFE ACCIDENT AND HEALTH INSURANCE
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
Allows insured to purchas additional amounts of disability income
insurance at future dates - ANSWER ->Guaranteed Insurability Rider
A type of group that has a constitution and bylaws and has been
organized for purposes other than obtaining insurance is called a(n) -
ANSWER ->Association or labor group
should the owner be disabled and cant earn an income, after 6 months,
all premiums will be paid by the insurer during the disability period;
After 6 months, the premiums will be repaid - ANSWER ->Waiver of
Premium Rider
If the annuitant dies before the annuity start date, - ANSWER ->the
premiums paid plus interest earned will be given to the beneficiary An
individual holding a producers license may represent which of the
following? - ANSWER ->An appointing insurer
A condition which limits the company's liability to provide coverage -
ANSWER ->Exclusion
Best suited for policy owners whose main concern is death protection -
ANSWER ->Life insurance net payment cost index
A whole life insurance policy where the premiums are paid up after 20
years would be considered what? - ANSWER ->limited pay life insurance
CALIFORNIA LIFE ACCIDENT AND HEALTH INSURANCE
STATE EXAM LATEST VERSION UPDATED AND REVISED
IN 2024-2025
