California Life Insurance Study guides, Class notes & Summaries

What is meant by referring to an insurance policy as a unilateral contract? - Only one party makes a legally enforceable promise. When must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? - At all times. Any situation that presents the possibility of a loss is known as - a loss exposure Which of the following information is not required to be communicated in a Life insurance contract? - Personal judgment. The direct distribution of insura...

Life-Only Agent Exam 1 Questions and Answers 100% Pass AN example of a moral hazard in relation to a life insurance application would be: - Answer ️️ -Misstating your health history to an insurance company. John applies for a variable annuity and does not request that the premiums be immediately invested in a stock or bond portfolio. After the annuity is issued, John returns the annuity contract to the insurer within the free look period. What will John receive from the insurer? - Ans...

Life-Only Exam 4 questions and answers graded A+ by experts 2024/2025

Life-Only Agent Exam #3 questions and answers graded A+ by experts 2024/2025

Life-Only Agent Exam #2 questions and answers graded A+ by experts 2024/2025

Life-Only Agent Exam # 1 questions and answers graded A+ by experts 2024/2025

Life Only Agent Exam questions and answers graded A+ by experts 2024/2025

Final Exam - California Life and Health Questions and Answers Employer-provided group term life insurance is exempt from income taxation up to - Correct Answer ️️ -$50,000 Medicare Part B has an initial enrollment period. How many months after an individual's 65th birthday month does this enrollment period end? - Correct Answer ️️ -3 months Which statement is true regarding policy dividends? - Correct Answer ️️ -A dividend option is selected by the insured at the time of poli...

CALIFORNIA LIFE PRACTICE EXAM A QUESTIONS AND ANSWERS 100% CORRECT 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 USED TO DETERMINE THE AMOUNT OF LIFE INSURANCE NEEDED BY FOCUSING ON THE PROJECTED EARNING POTENTIAL OF AN INSURED IS CALLED THE - Correct Answer ️️ -HUMAN LIFE VALUE APPROACH WHEN REPLACING A POLICY THE PRODUCER MUST PRESENT THE APPLICANT WITH ...

FInal Exam: California Life, Accident, and Health Insurance Questions and Answers 100% Pass What distinguishes a deferred annuity from an immediate annuity? - Correct Answer ️️ -The time at which benefit payments start Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? - Correct Answer ️️ -60 payments What is a common reason people purchase ...