CA LIFE AND HEALTH INSURANCE
EXAM ACTUAL QUESTIONS AND
CORRECT DETAILED
ANSWERS||CERTIFIED
EXAM||GRADED A+||UPDATED 2025
All of the following are true of the Survivorship Life policy EXCEPT
a) It can insure more than 2 lives.
b) The premium is based on the age of each insured.
c) The death benefit is not paid until the last death.
d) The premium would be lower than in a joint life policy. - CORRECT-
ANSWER-B
What are the continuing education requirements for agents who
market long-term care insurance policies?
,a) 8 hours of long-term care specific education included in the regular
CE requirements
b) 4 hours of long-term care education every year
c) 4 hours of long-term care education every 4 years
d) 8 hours of long-term care specific education in addition to the
regular CE requirements - CORRECT-ANSWER-A
If an insurance company issues a policy even though some questions on
the application were unanswered, when can the insurer get the
answers to those questions?
a) Within 3 months of issuing the policy
b) Within 30 days of issuing the policy
c) At any time within the incontestable period
d) Never; the insurer has waived its right to those answers by issuing
the policy - CORRECT-ANSWER-D
Which of the following is true regarding pure life annuity settlement
option?
a) It guarantees income for a specified period of time.
b) It provides the highest monthly benefit.
,c) It guarantees that all the proceeds will be paid out.
d) The beneficiary will receive a refund of the principal. - CORRECT-
ANSWER-B
Which of the following is a correct statement about annuities?
a) Variable annuities provide minimum guaranteed rate of interest.
b) Variable annuities place the funds into the company's general
account.
c) Fixed annuities have the annuitant assume the risks of investment.
d) Fixed annuities do not provide protection against inflation. -
CORRECT-ANSWER-D
Which of the following is NOT a characteristic of variable insurance and
annuities?
a) Cash value is adjusted for inflation.
b) Benefits are determined solely based on the policy premium.
c) Cash value accumulates based on the performance of stocks.
d) Benefits are not guaranteed. - CORRECT-ANSWER-B
, Where are premiums from fixed annuities invested?
a) A hedge fund
b) A separate account
c) A general account
d) A variable annuity - CORRECT-ANSWER-C
A life insurance policy qualifies as a Modified Endowment Contract
(MEC) if the amount of premium paid exceeds the amount that would
have provided paid-up insurance in how many years?
a) 3 years
b) 5 years
c) 7 years
d) The life of the policy - CORRECT-ANSWER-C
The entire contract includes all of the following EXCEPT
a) A copy of the application.
b) Any riders or amendments.
EXAM ACTUAL QUESTIONS AND
CORRECT DETAILED
ANSWERS||CERTIFIED
EXAM||GRADED A+||UPDATED 2025
All of the following are true of the Survivorship Life policy EXCEPT
a) It can insure more than 2 lives.
b) The premium is based on the age of each insured.
c) The death benefit is not paid until the last death.
d) The premium would be lower than in a joint life policy. - CORRECT-
ANSWER-B
What are the continuing education requirements for agents who
market long-term care insurance policies?
,a) 8 hours of long-term care specific education included in the regular
CE requirements
b) 4 hours of long-term care education every year
c) 4 hours of long-term care education every 4 years
d) 8 hours of long-term care specific education in addition to the
regular CE requirements - CORRECT-ANSWER-A
If an insurance company issues a policy even though some questions on
the application were unanswered, when can the insurer get the
answers to those questions?
a) Within 3 months of issuing the policy
b) Within 30 days of issuing the policy
c) At any time within the incontestable period
d) Never; the insurer has waived its right to those answers by issuing
the policy - CORRECT-ANSWER-D
Which of the following is true regarding pure life annuity settlement
option?
a) It guarantees income for a specified period of time.
b) It provides the highest monthly benefit.
,c) It guarantees that all the proceeds will be paid out.
d) The beneficiary will receive a refund of the principal. - CORRECT-
ANSWER-B
Which of the following is a correct statement about annuities?
a) Variable annuities provide minimum guaranteed rate of interest.
b) Variable annuities place the funds into the company's general
account.
c) Fixed annuities have the annuitant assume the risks of investment.
d) Fixed annuities do not provide protection against inflation. -
CORRECT-ANSWER-D
Which of the following is NOT a characteristic of variable insurance and
annuities?
a) Cash value is adjusted for inflation.
b) Benefits are determined solely based on the policy premium.
c) Cash value accumulates based on the performance of stocks.
d) Benefits are not guaranteed. - CORRECT-ANSWER-B
, Where are premiums from fixed annuities invested?
a) A hedge fund
b) A separate account
c) A general account
d) A variable annuity - CORRECT-ANSWER-C
A life insurance policy qualifies as a Modified Endowment Contract
(MEC) if the amount of premium paid exceeds the amount that would
have provided paid-up insurance in how many years?
a) 3 years
b) 5 years
c) 7 years
d) The life of the policy - CORRECT-ANSWER-C
The entire contract includes all of the following EXCEPT
a) A copy of the application.
b) Any riders or amendments.
