California Life, Accident, and Health

According to the California Insurance Code, what term is used to describe a fact so important it could affect the policy premium? - ANSWERMateriality Which of the following is NOT a life insurance settlement option? - ANSWERExtended Term Option True answer- Life income option, Fixed amount option, Lump Sum option Major Medical expense plans typically use a cost containment measure for emergency care. This is refereed to as a - ANSWERDeductible Which type of risk is gambling? - ANSWE...

FInal Exam: California Life, Accident, and Health Insurance with 160questions and answers latest update 2024/2025 GRADED A+

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 incom...

What is considered the most common type of specified disease insurance policy? - ANSWERCancer Minimum participation standards exist for a group health insurance plans in order to - ANSWERPrevent Adverse Selection How does underwriting differ between group life and individual life insurance? - ANSWERMedical questions must be answered on individual life insurance when handling premiums for an insured an agent is acting in which capacity? - ANSWERFiduciary what is the term used to descr...

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 income to t...

The systematic liquidation of a sum of money is provided by a(n) - ANSWERannuity 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? - ANSWERVariable annuity What kind of annuity pays income to two annuitants until their deaths? - ANSWERJoint and survivor annuity What distinguishes a deferred ann...

What is an insurance solicitor authorized to do? -ANSWER Help an agent or broker sell insurance According to the California Insurance Code, what is "insurance"? -ANSWER A contract What does a Hospital Confinement indemnity policy pay for? -ANSWER Pay a specified daily amount while the insured is confined to a hospital According to the California Insurance Code, how is the word "may" interpreted? -ANSWER Permissive Which statement is CORRECT when describing a contract of adhesion?...

Final Exam: California Life, Accident, and Health Insurance Already Passed What is an insurance solicitor authorized to do? Help an agent or broker sell insurance According to the California Insurance Code, what is "insurance"? A contract What does a Hospital Confinement indemnity policy pay for? Pay a specified daily amount while the insured is confined to a hospital According to the California Insurance Code, how is the word "may" interpreted? Permissive Which statement is CORRECT when...

California Life, Accident, and Health State Exam Questions and Answers Rated A "blackout period" affects widowed spouse How long must an individual be unable to engage in any gainful activity due to physical or mental disability in order to qualify for total Social Security Total Disability? 12 months What does ESOP stand for? Employee Stock Ownership Plan An example of risk sharing would be Doctors pooling their money to cover malpractice exposures According to life insurance contract law...

FInal Exam: California Life, Accident, and Health Insurance All Answers Correct What distinguishes a deferred annuity from an immediate annuity? 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? 60 payments What is a common reason people purchase an annuity? To protect against the risk of outliving th...