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CALIFORNIA LIFE PRACTICE EXAM WITH ALL CORRECT ANSWERS 2024.
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AN ANNUITY THAT IS PURCHASED WITH A LUMP SUM PREMIUM AND WHOSE BENEFITS BEGIN AFTER 12 MONTHS IS CALLED A - 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 - Answer HUMAN LIFE VALUE APPROACH 
 
WHEN REPLACING A POLICY THE PRODUCER MUST PRESENT THE APPLICANT WITH A NOTICE REGARDING REPLACEMENT OF LIFE INSURANCE - Answer AT THE TIME OF TAKING THE APPLICATION ...
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California Life, Accident, and Health Licensing Study Guide Exam With Solutions Graded A+ 2024.
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Co-insurance - Answer The policy provision which requires the insurer and the insured to share in the cost of services rendered 
 
Exclusion ratio - Answer The formula which is used by the IRS to determine how much is taxable to an annuitant during the pay out period. 
 
Occupational policy - Answer When a disability income policy provides coverage for injuries which occur on and off the job 
 
Most disability income policies are non occupational, meaning - Answer They only cover the ins...
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CALIFORNIA Life, Accident and Health Comprehensive Exam Fully Answered 2024.
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A moral hazard - Answer is a dishonest person (lacking in morals) 
 
A morale hazard - Answer a careless person. 
 
A peril - Answer is a cause of loss 
 
Pure risk - Answer is insurable & includes only a chance of loss. 
 
The highest premium - Answer would be found with a substandard risk classification. 
 
Agent commissions - Answer are an insurer expense 
 
"Insurance" - Answer is a contract that transfers risk from one party to another. 
 
An "insurance policy" - Answer ...
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California Life, Accident, and Health Insurance Study Guide Exam And Actual Answers 2024.
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The systematic liquidation of a sum of money is provided by a(n) - Answer annuity 
 
An annuitant would like to determine the current value of her annuity. To do this, she multiplies the number of "accumulation units" she owns times the unit value of the "separate account". What kind of annuity BEST matches this description? - Answer Variable annuity 
 
What kind of annuity pays income to two annuitants until their deaths? - Answer Joint and survivor annuity 
 
What distinguishes a def...
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California Life, Accident, and Health Insurance Latest Exam And Verified Answers 2024.
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What is considered the most common type of specified disease insurance policy? - Answer Cancer 
 
Minimum participation standards exist for a group health insurance plans in order to - Answer Prevent Adverse Selection 
 
How does underwriting differ between group life and individual life insurance? - Answer Medical questions must be answered on individual life insurance 
 
when handling premiums for an insured an agent is acting in which capacity? - Answer Fiduciary 
 
what is the term u...
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California Life, Accident, and Health Insurance Final Pro Exam Fully Solved 2024.
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What distinguishes a deferred annuity from an immediate annuity? - 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? - Answer 60 payments 
 
What is a common reason people purchase an annuity? - Answer To protect against the risk of outliving their financial resources 
 
What kind of annuity pays in...
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Life & Health Insurance Exam Prep Questions And Answers 100% Correct 2024.
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Basic Medical Expense policies - Answer Provide coverage for Hospital, Surgical and Physicians Medical Expense. 
-Purchased as a individual or group policy. 
-provide first dollar coverage (no deductibles). 
-limited benefit periods and low coverage limits. 
 
Major Medical Expense Policy - Answer -A supplement (in addition) to Basic Medical or as a stand-alone policy. 
-individual or group policy. 
-Take over when the Basic Policy runs out 
 
Hospital Expenses - Answer -Pay for covered ...
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Xcel Testing Solutions- Life and Health Insurance- Exam Questions Well Answered 100% 2024.
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The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT - Answer insurance sales calls 
Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry 
 
The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called - Answer cancelable 
The renewability provision in a cancelable policy allows the insurer to cancel or terminate the polic...
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FInal Exam: California Life, Accident, and Health Insurance Questions and Answers 100% Pass
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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 ...
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CA Life and Health Exam Questions and Answers 100% Pass
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CA Life and Health Exam Questions and 
Answers 100% Pass 
What is insurance? - Correct Answer ️️ -Insurance is the legal contract where two 
parties agree that if something will happen, a value will be exchanged. 
What's the difference between pure risk and speculative risk? - Correct Answer ️️ - 
Pure risk is when you'll lose it all or there will be no change. Speculative risk you can 
either win or lose. 
What is peril? - Correct Answer ️️ -peril is the causes of loss insured aga...
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