California Life, Accident, and Health Insurance
final Exam 2025–2026 Accurate Real Exam
Questions and Verified Correct Answers JUST
RELEASED
The California Insurance Code allows an individual how many days to cancel a life policy
for a full-refund? - answer>>>Between 10 and 30 days
Which of the following terms is NOT associated with a Major Medical policy? -
answer>>>Capitation
Who is eligible for retirement benefits under Social Security? - answer>>>Fully insured
workers
A report which is based on creditworthiness and personal characteristics that influences
an insurance applicant's eligibility for life and health insurance is called a(n) -
answer>>>Consumer report
Rating an individual's need for long-term care benefits can be measured by -
answer>>>activities of daily living
Major medical expense plans typically use a cost containment measure for emergency
hospital care. This is referred to as a(n) - answer>>>deductible
Which of the following pieces of information is NOT gathered during the personal
financial planning process? - answer>>>An individual's civic organization memberships
An insurer enters into a contract with a third party to insure itself against losses from
insurance policies it issues. What is this agreement called? - answer>>>Reinsurance
,Who are the parties to the master contract in a group life insurance policy? -
answer>>>Insurer and employer
Which of the following contracts is defined as "one that restores an injured party to the
condition that was present before the loss"? - answer>>>Indemnity contract
Which of the following is NOT a provision in a disability income policy? -
answer>>>Deductible and coinsurance provision
What does the term coinsurance refer to? - answer>>>After the deductible is satisfied,
the percentage paid by the insured for the remaining covered expenses
In regards to a group health insurance plan, which statement is CORRECT? - answer>>>A
non-contributory group health plan must cover all eligible members
The objective of underwriting is to - answer>>>avoid selecting a disproportionate number
of bad risks
The objective of underwriting is to - answer>>>avoid selecting a disproportionate number
of bad risks
The reason for social insurance is to - answer>>>protect certain vulnerable segments of
the population
Premiums are best described as - answer>>>the amount an insured pays per unit of
coverage
The insurer has the option of terminating a health insurance policy on a date stated in the
contract. What type of policy is this? - answer>>>Optionally renewable
, Which of the following would be considered an activity of daily living under a long term
care policy? - answer>>>bathing
Which type of worker has Social Security benefits available to them? - answer>>>fully
insured
Which of the following are two examples of activities of daily living (ADL's) used in
qualifying for long-term care benefits? - answer>>>Eating and dressing
Which type of risk is gambling? - answer>>>Speculative risk
The elimination period in a disability income policy serves the same purpose as -
answer>>>deductible
Life insurance surplus must be distributed to policyowners at what frequency? -
answer>>>Annually
When an applicant applies for insurance, the process by which the insurer determines
whether to issue a policy is called - answer>>>Underwriting
What is considered the most common type of specified disease insurance policy? -
answer>>>cancer
Pam is the primary beneficiary of a life insurance policy and wants to let the death benefit
accumulate and receive only the monthly investment proceeds. Which settlement option
should she choose? - answer>>>Interest option
final Exam 2025–2026 Accurate Real Exam
Questions and Verified Correct Answers JUST
RELEASED
The California Insurance Code allows an individual how many days to cancel a life policy
for a full-refund? - answer>>>Between 10 and 30 days
Which of the following terms is NOT associated with a Major Medical policy? -
answer>>>Capitation
Who is eligible for retirement benefits under Social Security? - answer>>>Fully insured
workers
A report which is based on creditworthiness and personal characteristics that influences
an insurance applicant's eligibility for life and health insurance is called a(n) -
answer>>>Consumer report
Rating an individual's need for long-term care benefits can be measured by -
answer>>>activities of daily living
Major medical expense plans typically use a cost containment measure for emergency
hospital care. This is referred to as a(n) - answer>>>deductible
Which of the following pieces of information is NOT gathered during the personal
financial planning process? - answer>>>An individual's civic organization memberships
An insurer enters into a contract with a third party to insure itself against losses from
insurance policies it issues. What is this agreement called? - answer>>>Reinsurance
,Who are the parties to the master contract in a group life insurance policy? -
answer>>>Insurer and employer
Which of the following contracts is defined as "one that restores an injured party to the
condition that was present before the loss"? - answer>>>Indemnity contract
Which of the following is NOT a provision in a disability income policy? -
answer>>>Deductible and coinsurance provision
What does the term coinsurance refer to? - answer>>>After the deductible is satisfied,
the percentage paid by the insured for the remaining covered expenses
In regards to a group health insurance plan, which statement is CORRECT? - answer>>>A
non-contributory group health plan must cover all eligible members
The objective of underwriting is to - answer>>>avoid selecting a disproportionate number
of bad risks
The objective of underwriting is to - answer>>>avoid selecting a disproportionate number
of bad risks
The reason for social insurance is to - answer>>>protect certain vulnerable segments of
the population
Premiums are best described as - answer>>>the amount an insured pays per unit of
coverage
The insurer has the option of terminating a health insurance policy on a date stated in the
contract. What type of policy is this? - answer>>>Optionally renewable
, Which of the following would be considered an activity of daily living under a long term
care policy? - answer>>>bathing
Which type of worker has Social Security benefits available to them? - answer>>>fully
insured
Which of the following are two examples of activities of daily living (ADL's) used in
qualifying for long-term care benefits? - answer>>>Eating and dressing
Which type of risk is gambling? - answer>>>Speculative risk
The elimination period in a disability income policy serves the same purpose as -
answer>>>deductible
Life insurance surplus must be distributed to policyowners at what frequency? -
answer>>>Annually
When an applicant applies for insurance, the process by which the insurer determines
whether to issue a policy is called - answer>>>Underwriting
What is considered the most common type of specified disease insurance policy? -
answer>>>cancer
Pam is the primary beneficiary of a life insurance policy and wants to let the death benefit
accumulate and receive only the monthly investment proceeds. Which settlement option
should she choose? - answer>>>Interest option
