CALIFORNIA LIFE LICENSE SPOT –ON EXAM SOLUTIONS 2024

An annuity that is purchased with a lump sum premium and whose benefits begin after 12 months is called a ... - correct answer Single premium deferred annuity A technique that is used to determine the amount of life insurance needed on the projected earning potential of an insured is called the... - correct answer Human life approach When replacing a policy the producer must present the applicant with a Notice Regarding Replacement of Life Insurance... - correct answer At the time of taking the application The possibility of a financial loss incurred by a life insurance company got the premature death of an insured is known as a... - correct answer Risk A person who signs a fraudulent claim form may be found guilty of... - correct answer Perjury Which policy is a combination of annual renewable term insurance and interest-sensitive cash value? - correct answer Universal life The right to a full refund of premiums for insureds age 60 or older is - correct answer 14 days Intentionally omitting a history of heart problem on application - correct answer Concealment A tax-sheltered annuity (TSA) is a qualified plan available for - correct answer Non-profit orga