CA State Life Insurance Practice Exam A

CA State Life Insurance Practice Exam A Single premium deferred annuity - Answer ️️ -An annuity that is purchased with a slump sum premium and whose benefits begin after 12 month is called a Human Life Value Approach - Answer ️️ -A technique used to determine the amount of life insurance needed by focusing on the projected earning potential of an insured is called the At the time of taking the application - Answer ️️ -When replacing a policy the producer must present the applicant with a Notice Regarding Replacement of Life Insurance Risk - Answer ️️ -The possibility of a financial loss incurred by a life insurance company for the premature death of an insured is known as a Medical information on applicants for life and health insurance - Answer ️️ -The Medical Information Bureau (MIB) is a nonprofit trade association that maintains Perjury - Answer ️️ -A person who signs a fraudulent claim form may be found guilty of Universal life - Answer ️️ -Which policy is a combination of annual renewable term insurance and interest-sensitive cash value? 30 Days - Answer ️️ -The right to a full refund of premiums for insureds age 60 or older is Frequency of premium payment - Answer ️️ -The premium modes can be best described as the Concealment - Answer ️️ -Intentionally omitting a history of heart problems on an application is Nonprofit organizations - Answer ️️ -A tax-sheltered annuity (TSA) is a qualified plan available for Policy owner - Answer ️️ -The intent of replacement regulations is to protect the Reinstatement - Answer ️️ -Which provision allows a lapsed policy to be put back in force? Alien Insurer - Answer ️️ -According to the California Department of Insurance, an insurer whose articles of incorporation are registered in Oslo, Norway is considered a/an Rate of Death - Answer ️️ -Mortality is defined as the A group may exist for the purpose of purchasing insurance. - Answer ️️ -Which of the following is NOT a characteristic of group life insurance