LICENSE EXAM: THE MOST COMPRENSIVE A+ QUESTIONS
AND ANSWERS BOOOKLET TO ACE THE EXAM!
Credit Life
The type of insurance sold to a debtor and designed to pay the amount due loan if the
debtor dies before the loan is repaid
Be fined a sum of $1000
Any insurance agent who engages in the insurance business and violates the code with
respect to insurance replacement shall on the first violation
It will pay double or triple the face amount
Which of the following statements is TRUE concerning the Accidental Death Rider
$300,000 (triple the amount of policy value)
The insured under $100,000 life insurance policy with a triple indemnity rider for
accidental death was killed in a car accident. It was determined that the accident was
his fault. The triple indemnity rider in the policy specifies that the death must not be
contributed to by the insured in any manner. In this case. WHAT WILL THE POLICY
BENEFICIARY RECEIVE?
Status established by the STATE OF LEGISLATURE
The California Insurance CODE IS?
The Beneficiary
In a GROUP LIFE INSURANCE policy the employer select all of the following EXCEPT
The Insured's age death.
(The insured age at death will not be covered but the longer the life expectancy of
the recipient, the lower the payment will be.
The insured had his wife named as the beneficiary of his life insurance policy. To
ensure that his wife had income for life after the insured's death, the amount of
payments will be determined by taking into account all of the following EXCEPT.
Cancellation
The act of REVOKING or TERMINATING an insurance policy is Called
Business Continuation Plan
, When the PARTNER of a BUSINESS develop an arrangement whereby should one of
them die or become PERMANENTLY DISABLE, the other PARTNERS would purchase
the interest of the DECEASED or DISABLED PARTNER at a predetermined price, this
IS CALLED A/ AN?
May be covered to permanent insurance for the children without requiring
evidence of inscrutability.
One of the ADVANTAGES OF A FAMILY policy that provides COVERAGE for
CHILDREN is that it
Copy of the original application
According to the ENTIRE CONTRACT PROVISION, what document must be made
PART OF THE INSURANCE POLICY?
Consideration
An INSURED PAYS an ANNUAL PREMIUM to his INSURER. IN return, the INSURER
promises to PAY BENEFITS in accordance with the terms of the contract THIS IS
CALLED
Interest Only Option
The policy owner wants to make sure that upon his death, the life policy will pay a
portion of the proceeds annually to his spouse, but that the principal will be paid to their
children when they reach a certain age. Which settlement option should the policy
owner choose?
Protecting the insurer against adverse selection.
Profitable distribution of exposures serves the purpose of
The Principal
An AGENT IS a legal person who acts on behalf of
The cost of coverage is a deductible expense by the employer,
An employer offers group life insurance to its employees for the amount of $10,000.
Which of the following is true?
The Amount of premium payment
Which of the following information will be stated in the consideration clause of a life
insurance policy?
Perils
AND ANSWERS BOOOKLET TO ACE THE EXAM!
Credit Life
The type of insurance sold to a debtor and designed to pay the amount due loan if the
debtor dies before the loan is repaid
Be fined a sum of $1000
Any insurance agent who engages in the insurance business and violates the code with
respect to insurance replacement shall on the first violation
It will pay double or triple the face amount
Which of the following statements is TRUE concerning the Accidental Death Rider
$300,000 (triple the amount of policy value)
The insured under $100,000 life insurance policy with a triple indemnity rider for
accidental death was killed in a car accident. It was determined that the accident was
his fault. The triple indemnity rider in the policy specifies that the death must not be
contributed to by the insured in any manner. In this case. WHAT WILL THE POLICY
BENEFICIARY RECEIVE?
Status established by the STATE OF LEGISLATURE
The California Insurance CODE IS?
The Beneficiary
In a GROUP LIFE INSURANCE policy the employer select all of the following EXCEPT
The Insured's age death.
(The insured age at death will not be covered but the longer the life expectancy of
the recipient, the lower the payment will be.
The insured had his wife named as the beneficiary of his life insurance policy. To
ensure that his wife had income for life after the insured's death, the amount of
payments will be determined by taking into account all of the following EXCEPT.
Cancellation
The act of REVOKING or TERMINATING an insurance policy is Called
Business Continuation Plan
, When the PARTNER of a BUSINESS develop an arrangement whereby should one of
them die or become PERMANENTLY DISABLE, the other PARTNERS would purchase
the interest of the DECEASED or DISABLED PARTNER at a predetermined price, this
IS CALLED A/ AN?
May be covered to permanent insurance for the children without requiring
evidence of inscrutability.
One of the ADVANTAGES OF A FAMILY policy that provides COVERAGE for
CHILDREN is that it
Copy of the original application
According to the ENTIRE CONTRACT PROVISION, what document must be made
PART OF THE INSURANCE POLICY?
Consideration
An INSURED PAYS an ANNUAL PREMIUM to his INSURER. IN return, the INSURER
promises to PAY BENEFITS in accordance with the terms of the contract THIS IS
CALLED
Interest Only Option
The policy owner wants to make sure that upon his death, the life policy will pay a
portion of the proceeds annually to his spouse, but that the principal will be paid to their
children when they reach a certain age. Which settlement option should the policy
owner choose?
Protecting the insurer against adverse selection.
Profitable distribution of exposures serves the purpose of
The Principal
An AGENT IS a legal person who acts on behalf of
The cost of coverage is a deductible expense by the employer,
An employer offers group life insurance to its employees for the amount of $10,000.
Which of the following is true?
The Amount of premium payment
Which of the following information will be stated in the consideration clause of a life
insurance policy?
Perils
