Final Exam - California Life And Health / 148
Questions And Answers Updated 2024 : Download
To Pass!!!
Quiz :Employer-provided group term life insurance is exempt from income
taxation up to - Answer :$50,000
Quiz :Medicare Part B has an initial enrollment period. How many months
after an individual's 65th birthday month does this enrollment period end? -
Answer :3 months
Quiz :Which statement is true regarding policy dividends? - Answer :A
dividend option is selected by the insured at the time of policy purchase
Quiz :What does the insurance term "indemnity" refer to? - Answer :Make
whole
Quiz :What is a common reason people purchase an annuity? - Answer :To
protect against the risk of outliving their financial resources
Quiz :The importance of a representation is demonstrated in what rule? -
Answer :Materiality of concealment
Quiz :Who does a life settlement broker represent? - Answer :Individual
wanting to sell their life policy to a third party
Quiz :Who is financially liable for the payment of covered claims in a fully
insured group health plan? - Answer :Insurer
Quiz :The Human Life Value concept is based on - Answer :income
Quiz :Business Overhead Expense Insurance pays for - Answer :business
expenses when a business owner becomes disabled
Quiz :At what point does a self-insured group qualify for stop-loss coverage? -
Answer :When claims exceed a specified limit in a set period of time
Quiz :What percentage of eligible employees must participate in a
noncontributory group health plan before it can be put in effect? -
Answer :100%
, Quiz :A life insurance policy where the insured can choose where the cash
value can be invested is called - Answer :variable life
Quiz :Which of these statements correctly describes risk? - Answer :Pure and
speculative risks are both insurable
Quiz :The elimination period in a disability income policy serves the same
purpose as a(n) ______ in a medical expense policy. - Answer :deductible
Quiz :What is required after a life agent sells an insurance policy to an
applicant without being appointed by the insurer? - Answer :Notice of
appointment must be submitted to the Commissioner
Quiz :Retirement plans are prevented from favoring highly compensated
employees under which government regulation? - Answer :Nondiscrimination
Quiz :ESOPs are typically invested in - Answer :employer stock
Quiz :The reason for social insurance is to - Answer :protect certain vulnerable
segments of the population
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 :he free-look period for life insurance policyowners age 60 or older is -
Answer :30 days
Quiz :What is considered to be the definition of disability, according to Social
Security? - Answer :Unable to engage in any substantial gainful activity
Quiz :"Life insurance creates an immediate estate". This phrase means: -
Answer :when the insured dies, a death benefit is paid
Quiz :How are death benefits that are received by a beneficiary normally
treated for tax purposes? - Answer :Exempt from federal income taxes
Quiz :Exempt from federal income taxes - Answer :Payment for services goes
directly to the provider
Questions And Answers Updated 2024 : Download
To Pass!!!
Quiz :Employer-provided group term life insurance is exempt from income
taxation up to - Answer :$50,000
Quiz :Medicare Part B has an initial enrollment period. How many months
after an individual's 65th birthday month does this enrollment period end? -
Answer :3 months
Quiz :Which statement is true regarding policy dividends? - Answer :A
dividend option is selected by the insured at the time of policy purchase
Quiz :What does the insurance term "indemnity" refer to? - Answer :Make
whole
Quiz :What is a common reason people purchase an annuity? - Answer :To
protect against the risk of outliving their financial resources
Quiz :The importance of a representation is demonstrated in what rule? -
Answer :Materiality of concealment
Quiz :Who does a life settlement broker represent? - Answer :Individual
wanting to sell their life policy to a third party
Quiz :Who is financially liable for the payment of covered claims in a fully
insured group health plan? - Answer :Insurer
Quiz :The Human Life Value concept is based on - Answer :income
Quiz :Business Overhead Expense Insurance pays for - Answer :business
expenses when a business owner becomes disabled
Quiz :At what point does a self-insured group qualify for stop-loss coverage? -
Answer :When claims exceed a specified limit in a set period of time
Quiz :What percentage of eligible employees must participate in a
noncontributory group health plan before it can be put in effect? -
Answer :100%
, Quiz :A life insurance policy where the insured can choose where the cash
value can be invested is called - Answer :variable life
Quiz :Which of these statements correctly describes risk? - Answer :Pure and
speculative risks are both insurable
Quiz :The elimination period in a disability income policy serves the same
purpose as a(n) ______ in a medical expense policy. - Answer :deductible
Quiz :What is required after a life agent sells an insurance policy to an
applicant without being appointed by the insurer? - Answer :Notice of
appointment must be submitted to the Commissioner
Quiz :Retirement plans are prevented from favoring highly compensated
employees under which government regulation? - Answer :Nondiscrimination
Quiz :ESOPs are typically invested in - Answer :employer stock
Quiz :The reason for social insurance is to - Answer :protect certain vulnerable
segments of the population
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 :he free-look period for life insurance policyowners age 60 or older is -
Answer :30 days
Quiz :What is considered to be the definition of disability, according to Social
Security? - Answer :Unable to engage in any substantial gainful activity
Quiz :"Life insurance creates an immediate estate". This phrase means: -
Answer :when the insured dies, a death benefit is paid
Quiz :How are death benefits that are received by a beneficiary normally
treated for tax purposes? - Answer :Exempt from federal income taxes
Quiz :Exempt from federal income taxes - Answer :Payment for services goes
directly to the provider
