Study guides, Class notes & Summaries

California Life Insurance State Exam Simulator Questions and Answers 100% Pass Exclusion ratio - Correct Answer ️️ -An annuitant would life to determine the amount of an annuity distribution that is exempt from taxation. What is used to calculate this? Mortality rate, Exclusion ratio, Morbidity rate, Debt-to-Equity ration Offers a maximum interest rate that increases annually - Correct Answer ️️ -Which of the following is NOT a feature of equity-indexed annuities? Offers long t...

CA Life Insurance Practice Exam Questions and Answers 100% Pass A key person is typically all of the following, except: - Correct Answer ️️ --Not directly involved in sales, production, or service Key persons are employees whose contributions have a significant impact on the revenue and profitability of the company, especially in small businesses. They are typically: part of the management team, more highly paid, respected by customers, creditors, suppliers, and vendors, and have dire...

CA Life, Accident, Health Test 100% Correct Solved Which of the following would not be accomplished with the purchase of an insurance policy? - Correct Answer ️️ -Risk is eliminated Individuals become eligible for Medicare Part A benefits at what age? - Correct Answer ️️ -65 At what point does a self-insured group qualify for a stop-loss coverage? - Correct Answer ️️ -When claims exceed a specified limit in a set period of time What percentage of eligible employees must partic...

CA Life Insurance Exam Questions and Answers 100% Pass What is meant by referring to an insurance policy as a unilateral contract? - Correct Answer ️️ -Only one party makes a legally enforceable promise. When must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? - Correct Answer ️️ -At all times. Any situation that presents the possibility of a loss is known as - Correct Answer ️️ -a loss exposure Which of the following inform...

CALIFORNIA LIFE PRACTICE EXAM QUESTIONS AND ANSWERS 100% PASS THE ANNUITY INCOME AMOUNT IS BASED ON WHOSE LIFE? - Correct Answer ️️ -ANNUITANT AN INJURED PARTY TO A CONTRACT IS ABLE TO RESCIND THE CONTRACT FOR - Correct Answer ️️ -UNINTENTIONAL CONCEALMENT A WHOLE LIFE POLICY THAT WILL GENERATE IMMEDIATE CASH VALUE IS - Correct Answer ️️ -SINGLE PREMIUM WHICH STATEMENT IS TRUE REGARDING LONG-TERM CARE TRAINING IN CALIFORNIA? - Correct Answer ️️ -TRAINING IS NOT REQUIRED ...

California Life-Only Study Guide with 100% Complete Solutions What does insurance do? - Correct Answer ️️ -transfers the risk of loss from an individual/ business entity to an insurance company, which then spreads the costs of unexpected losses to many individuals What is insurance? - Correct Answer ️️ -the legal agreement/ contract whereby the 2 parties involved agree to the limits of the indemnification, the circumstances under which it will occur and what things of value (consi...

Life and Health License Exam Questions and Answers 100% Pass Only one party makes a legally enforceable promise - Correct Answer ️️ -What is meant by referring to an insurance policy as a unilateral contract? At all times - Correct Answer ️️ -When must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? a loss exposure - Correct Answer ️️ -Any situation that presents the possibility of a loss is known as Personal judgment - Corre...

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

A key person is typically all of the following, except: - Answer -Not directly involved in sales, production, or service Key persons are employees whose contributions have a significant impact on the revenue and profitability of the company, especially in small businesses. They are typically: part of the management team, more highly paid, respected by customers, creditors, suppliers, and vendors, and have direct responsibilities for sales, production, or service. Which one of the followi...

Carol is injured driving a company car at work. Her Health insurance coverage: AProvides excess or supplementary coverage BWill provide coverage on a pro-rata basis with Workers Compensation CWill cover her injuries DWill not cover her since this is an occupational injury - Answer D Explanation: Most Health insurance provides 'non-occupational' (off the job) coverage for sickness or injury, meaning that occupational coverage is excluded. However, if a person is not required to be c...