CALIFORNIA LIFE INSURANCE
EXAM 2026 FINAL PAPER PRACTICE
QUESTIONS ANSWERS ACCURATE
A+
◉ How does insurance written under a franchise agreement or on a
wholesale basis doffer from standard group insurance?
Answer: - premiums for the coverage under a franchise agreement may
be written for more than the usual rates for such insurance
◉ Concealment, whether intentional or unintentional, entitles the injured
party to?
Answer: - rescind insurance
◉ Which of the following is TRUE regarding change of address for a
licensee?
Answer: - the commissioner must be notified immediately of any change
in the personal, business, or email address
◉ Which of the following types of coverage must have a proven
insurable interest at the time of the application?
Answer: - coverage for a minor child under age 18 or a corporate-owned
policy on an employee
,◉ what is the punishment for a person who refuses to deliver books,
records, or assets to the commissioner when seizure order in an
insolvency proceeding?
Answer: - not more than $1000 fine and/or 1 year imprisonment
◉ When should an agent provide an applicant the effective date of
coverage, if known, or the circumstances under which coverage will be
effective?
Answer: - at the time of application or receipt of premium
◉ It is unlawful to do any of the following EXCEPT
Answer: - make or cause to made a knowingly false or fraudulent or
material representation for the purpose of encouraging an injured worker
to claim benefits.
◉ Which of the following provisions applies in the event of a
misstatement of age for a covered employee of the group life policy?
Answer: - there shall be an equitable adjustment of premium or in the
amount of insurance
◉ Losses arising from all of the following conditions may be excluded
from group life policies EXCEPT
Answer: - natural disasters
◉ All of the following are TRUE about the rules regarding the sale of
life insurance and annuities to seniors age 65 or older EXCEPT
, Answer: - the agent, broker, or insurer is required to show a copy of
their insurance license with the name, address, and phone number when
conducting business in the senior's home
◉ When an insured under age 60 purchases a new policy, how much
time do they have to cancel and receive a full refund of premiums
Answer: - the insured has a period of not less than 10, and not more than
30 days, during which they may cancel and receive a full refund for the
premiums paid.
◉ Which is an INACCURATE statement regarding underwriting based
on genetic testing?
Answer: - the proposed insured must pay for the cost of the testing
◉ The following are all the penalties for unlawfully acting as an insurer
without a certificate of authority EXCEPT
Answer: - the individual will be banned from practicing insurance for a
period of 5 years
◉ When may a surplus line broker solicit and place insurance for a
home state insured with a nonadmitted insurer?
Answer: - if the same insurance coverage cannot be procured from an
admitted insurer
◉ Which of the following is an insurer allowed to do in the event of a
claim?
EXAM 2026 FINAL PAPER PRACTICE
QUESTIONS ANSWERS ACCURATE
A+
◉ How does insurance written under a franchise agreement or on a
wholesale basis doffer from standard group insurance?
Answer: - premiums for the coverage under a franchise agreement may
be written for more than the usual rates for such insurance
◉ Concealment, whether intentional or unintentional, entitles the injured
party to?
Answer: - rescind insurance
◉ Which of the following is TRUE regarding change of address for a
licensee?
Answer: - the commissioner must be notified immediately of any change
in the personal, business, or email address
◉ Which of the following types of coverage must have a proven
insurable interest at the time of the application?
Answer: - coverage for a minor child under age 18 or a corporate-owned
policy on an employee
,◉ what is the punishment for a person who refuses to deliver books,
records, or assets to the commissioner when seizure order in an
insolvency proceeding?
Answer: - not more than $1000 fine and/or 1 year imprisonment
◉ When should an agent provide an applicant the effective date of
coverage, if known, or the circumstances under which coverage will be
effective?
Answer: - at the time of application or receipt of premium
◉ It is unlawful to do any of the following EXCEPT
Answer: - make or cause to made a knowingly false or fraudulent or
material representation for the purpose of encouraging an injured worker
to claim benefits.
◉ Which of the following provisions applies in the event of a
misstatement of age for a covered employee of the group life policy?
Answer: - there shall be an equitable adjustment of premium or in the
amount of insurance
◉ Losses arising from all of the following conditions may be excluded
from group life policies EXCEPT
Answer: - natural disasters
◉ All of the following are TRUE about the rules regarding the sale of
life insurance and annuities to seniors age 65 or older EXCEPT
, Answer: - the agent, broker, or insurer is required to show a copy of
their insurance license with the name, address, and phone number when
conducting business in the senior's home
◉ When an insured under age 60 purchases a new policy, how much
time do they have to cancel and receive a full refund of premiums
Answer: - the insured has a period of not less than 10, and not more than
30 days, during which they may cancel and receive a full refund for the
premiums paid.
◉ Which is an INACCURATE statement regarding underwriting based
on genetic testing?
Answer: - the proposed insured must pay for the cost of the testing
◉ The following are all the penalties for unlawfully acting as an insurer
without a certificate of authority EXCEPT
Answer: - the individual will be banned from practicing insurance for a
period of 5 years
◉ When may a surplus line broker solicit and place insurance for a
home state insured with a nonadmitted insurer?
Answer: - if the same insurance coverage cannot be procured from an
admitted insurer
◉ Which of the following is an insurer allowed to do in the event of a
claim?
