Final Exam: California Life, Accident, And Health
Insurance New 2024 : Download To Pass!!!
Quiz :What distinguishes a deferred annuity from an immediate annuity? -
Answer :The time at which benefit payments start
Quiz :Cindy buys a 10-year certain annuity with an installment refund. After
receiving monthly payments for 5 years, Cindy dies. How many remaining
payments will the insurer make to her beneficiary? - Answer :60 payments
Quiz :What is a common reason people purchase an annuity? - Answer :To
protect against the risk of outliving their financial resources
Quiz :What kind of annuity pays income to two annuitants until their deaths? -
Answer :Joint and survivor annuity
Quiz :What is a joint and survivor annuity? - Answer :Provides payments the
annuity to two people. If either person dies, the same income payments
continue to the survivor for life. When the surviving annuitant dies, no further
payments are made to anyone.
Quiz :Victoria owns a life annuity and elects to receive annuity payments
monthly for the remainder of her life with "ten years certain". Her annuity will
make payments - Answer :for a minimum of 120 months and a maximum of
the remainder of her life
Quiz :Which of the following statements regarding a life insurance policy
dividend is TRUE? - Answer :It is the distribution of excess of funds
accumulated by the insurer on participating policies.
Quiz :An insured owned by its policyholders is called a - Answer :mutual
insurer
Quiz :An insurer enters into a contract with a third party to insure itself against
losses from insurance policies it issues. What is the agreement called? -
Answer :Reinsurance
Quiz :What is reinsurance? - Answer :An arrangement by which an insurance
company transfers a portion of a risk it has assumed to another insurer
, Quiz :Which of the following is NOT a characteristic of reinsurance? -
Answer :Increases the unearned premium reserve
Quiz :Which of the following is a contract that involves one party which
indemnifies another when a loss arises from an unknown event? -
Answer :Insurance policy
Quiz :What is an insurance policy? - Answer :A contract where one party
promises to indemnify another against loss that arises from an unknown event
Quiz :What is residual disability income insurance payments based on? -
Answer :The amount of the insured's income is reduced by the disability
Quiz :Manuel is considered to be a disabled person as defined by the
Americans with Disabilities Act (ADA). As such, he is unable to perform any of
the following life activities EXCEPT - Answer :Driving
Quiz :Which of the following is NOT a provision in a disability income policy? -
Answer :Deductible and coinsurance provision
Quiz :Which of these statements is NOT true concerning recurrent disabilities?
- Answer :The insurer continues coverage after a new elimination period
Quiz :Kim is insured under a disability income insurance policy with an "own-
occupation" clause. She was recently injured in an automobile accident and
can no longer perform the tasks of her job. Kim is now considered to be -
Answer :totally disabled
Quiz :What percentage of eligible employees must participate in a
noncontributory group health plan before it can be put in effect? -
Answer :100%
Quiz :Business Overhead Expense Insurance pays for - Answer :business
expenses when a business owner becomes disabled
Quiz :Minimum participation standards exist for group health insurance plans
in order to - Answer :prevent adverse selection
Quiz :The problem of overinsurance is addressed in which health insurance
provision? - Answer :Coordination of benefits
Insurance New 2024 : Download To Pass!!!
Quiz :What distinguishes a deferred annuity from an immediate annuity? -
Answer :The time at which benefit payments start
Quiz :Cindy buys a 10-year certain annuity with an installment refund. After
receiving monthly payments for 5 years, Cindy dies. How many remaining
payments will the insurer make to her beneficiary? - Answer :60 payments
Quiz :What is a common reason people purchase an annuity? - Answer :To
protect against the risk of outliving their financial resources
Quiz :What kind of annuity pays income to two annuitants until their deaths? -
Answer :Joint and survivor annuity
Quiz :What is a joint and survivor annuity? - Answer :Provides payments the
annuity to two people. If either person dies, the same income payments
continue to the survivor for life. When the surviving annuitant dies, no further
payments are made to anyone.
Quiz :Victoria owns a life annuity and elects to receive annuity payments
monthly for the remainder of her life with "ten years certain". Her annuity will
make payments - Answer :for a minimum of 120 months and a maximum of
the remainder of her life
Quiz :Which of the following statements regarding a life insurance policy
dividend is TRUE? - Answer :It is the distribution of excess of funds
accumulated by the insurer on participating policies.
Quiz :An insured owned by its policyholders is called a - Answer :mutual
insurer
Quiz :An insurer enters into a contract with a third party to insure itself against
losses from insurance policies it issues. What is the agreement called? -
Answer :Reinsurance
Quiz :What is reinsurance? - Answer :An arrangement by which an insurance
company transfers a portion of a risk it has assumed to another insurer
, Quiz :Which of the following is NOT a characteristic of reinsurance? -
Answer :Increases the unearned premium reserve
Quiz :Which of the following is a contract that involves one party which
indemnifies another when a loss arises from an unknown event? -
Answer :Insurance policy
Quiz :What is an insurance policy? - Answer :A contract where one party
promises to indemnify another against loss that arises from an unknown event
Quiz :What is residual disability income insurance payments based on? -
Answer :The amount of the insured's income is reduced by the disability
Quiz :Manuel is considered to be a disabled person as defined by the
Americans with Disabilities Act (ADA). As such, he is unable to perform any of
the following life activities EXCEPT - Answer :Driving
Quiz :Which of the following is NOT a provision in a disability income policy? -
Answer :Deductible and coinsurance provision
Quiz :Which of these statements is NOT true concerning recurrent disabilities?
- Answer :The insurer continues coverage after a new elimination period
Quiz :Kim is insured under a disability income insurance policy with an "own-
occupation" clause. She was recently injured in an automobile accident and
can no longer perform the tasks of her job. Kim is now considered to be -
Answer :totally disabled
Quiz :What percentage of eligible employees must participate in a
noncontributory group health plan before it can be put in effect? -
Answer :100%
Quiz :Business Overhead Expense Insurance pays for - Answer :business
expenses when a business owner becomes disabled
Quiz :Minimum participation standards exist for group health insurance plans
in order to - Answer :prevent adverse selection
Quiz :The problem of overinsurance is addressed in which health insurance
provision? - Answer :Coordination of benefits
