AVID PROTOOLS 110 CERTIFICATION – SPHS
ACTUAL 2026 QUESTIONS AND 100% CORRECT
ANSWERS
Life Insurance creates an immediate estate. This phrase
means? - ANSWER when the insured dies, a death
benefit is paid
QUESIONWhich of the following would not be
accomplished with the purchase of a life insurance policy?
- ANSWER Risk is eliminated
QUESIONWhat time period allows an insured's life
insurance policy to remain in force even if the premium
was not paid on the due date? - ANSWER Grace period
QUESIONVictoria owns a life annuity and elects to
receive annuity payments monthly for the remainder of her
life with "ten years certain." Her annuity will make
payments? - ANSWER For a minimum of 120 months
and a maximum of the remainder of her life
QUESIONAccording to section 1729.2 of the California
Insurance Code, which of these does NOT qualify as
"background information?" - ANSWER Misdemeanor
charges filed, not resulting in a conviction
QUESIONThe free-look period for life insurance
policyowners age 60 or older is - ANSWER 30 days
, QUESIONWhat type of license is required for an
individual who charges a fee to review an insured's
existing life insurance policy? - ANSWER Life and
disability analyst
QUESIONWhat determines the Social Security normal
retirement age? - ANSWER Year in which worker was
born
QUESIONLife insurance surplus must be distributed to
policyowners at what frequency? - ANSWER Annually
QUESIONWhen a life insurance policy is surrendered,
how does the cost recovery rule apply? - ANSWER The
policy's cost basis is exempt from taxation
QUESIONAn agent's attempt to stop the replacement of
an existing life insurance policy is known as - ANSWER
conservation
QUESIONBruce is involved in an accident and becomes
totally and permanently disabled. His insurance policy
continues in force without payment of further premiums.
Which policy provision is responsible for this? - ANSWER
Waiver of premium provision
QUESIONCindy 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
, QUESIONLynn owns a life policy that guarantees the
right to renew the policy each year, regardless of health,
but at an increased premium. What kind of policy is this? -
ANSWER Renewable Term
QUESIONAn 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
QUESIONAccording to California Insurance Code, which
of the following is NOT considered an insurable event? -
ANSWER An insured suffers a financial loss in the state
lottery
QUESIONWhich of the following is NOT considered to be
an unfair claims settlement practice? - ANSWER
Advising a claimant to hire an attorney
QUESIONWhen does a life insurance policy's waiver of
premium take effect? - ANSWER Insured has become
totally disabled
QUESIONWhich of the following best describes the
statement, "The more times an event is repeated, the
more predictable the outcome becomes"? - ANSWER
Law of Large Numbers
ACTUAL 2026 QUESTIONS AND 100% CORRECT
ANSWERS
Life Insurance creates an immediate estate. This phrase
means? - ANSWER when the insured dies, a death
benefit is paid
QUESIONWhich of the following would not be
accomplished with the purchase of a life insurance policy?
- ANSWER Risk is eliminated
QUESIONWhat time period allows an insured's life
insurance policy to remain in force even if the premium
was not paid on the due date? - ANSWER Grace period
QUESIONVictoria owns a life annuity and elects to
receive annuity payments monthly for the remainder of her
life with "ten years certain." Her annuity will make
payments? - ANSWER For a minimum of 120 months
and a maximum of the remainder of her life
QUESIONAccording to section 1729.2 of the California
Insurance Code, which of these does NOT qualify as
"background information?" - ANSWER Misdemeanor
charges filed, not resulting in a conviction
QUESIONThe free-look period for life insurance
policyowners age 60 or older is - ANSWER 30 days
, QUESIONWhat type of license is required for an
individual who charges a fee to review an insured's
existing life insurance policy? - ANSWER Life and
disability analyst
QUESIONWhat determines the Social Security normal
retirement age? - ANSWER Year in which worker was
born
QUESIONLife insurance surplus must be distributed to
policyowners at what frequency? - ANSWER Annually
QUESIONWhen a life insurance policy is surrendered,
how does the cost recovery rule apply? - ANSWER The
policy's cost basis is exempt from taxation
QUESIONAn agent's attempt to stop the replacement of
an existing life insurance policy is known as - ANSWER
conservation
QUESIONBruce is involved in an accident and becomes
totally and permanently disabled. His insurance policy
continues in force without payment of further premiums.
Which policy provision is responsible for this? - ANSWER
Waiver of premium provision
QUESIONCindy 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
, QUESIONLynn owns a life policy that guarantees the
right to renew the policy each year, regardless of health,
but at an increased premium. What kind of policy is this? -
ANSWER Renewable Term
QUESIONAn 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
QUESIONAccording to California Insurance Code, which
of the following is NOT considered an insurable event? -
ANSWER An insured suffers a financial loss in the state
lottery
QUESIONWhich of the following is NOT considered to be
an unfair claims settlement practice? - ANSWER
Advising a claimant to hire an attorney
QUESIONWhen does a life insurance policy's waiver of
premium take effect? - ANSWER Insured has become
totally disabled
QUESIONWhich of the following best describes the
statement, "The more times an event is repeated, the
more predictable the outcome becomes"? - ANSWER
Law of Large Numbers
