California Life License Exam 2026
Questions and Answers
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
©COPYRIGHT 2025 ALL RIGHTS RESERVED 1
Questions and Answers
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
©COPYRIGHT 2025 ALL RIGHTS RESERVED 1
