CALIFORNIA LIFE INSURANCE STATE Exam 2024- 2025
Test Bank With 150 Questions And Correct Answers
What is the purpose of the Pre-Existing Condition
Insurance Plan (PCIP)? - ANSWER>> PCIP was created by
the PPACA for people rejected by private health insurers
due to pre-existing conditions
According 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
Life insurance surplus must be distributed to
policyowners at what frequency? - ANSWER>> Annually
1
,When selling a long term care insurance rider to an
applicant, a life agent must take into consideration all of
these factors, EXCEPT - ANSWER>> Attending physician's
statement
Paul has an existing annuity and is sold a new one, in which
the new policy holds no greater financial benefit to
him than the existing contract. This is considered a(n) -
ANSWER>> unnecessary replacement
The California Insurance Code allows an individual how
many days to cancel a life policy for a full-refund? -
ANSWER>> Between 10 and 30 days
According to the California code governing claim
settlement practices, which of the following is NOT
, considered to be an act of unfair discrimination? -
ANSWER>> Denial of a claim based on reckless behavior
According to the California Insurance Code, how is the
word "may" interpreted? - ANSWER>> Permissive
The free-look period for life insurance policyowners age
60 or older is - ANSWER>> 30 days
According to the California Insurance Code, what is
"insurance"? - ANSWER>> A contract
What prevents a life insurance policy from being rescinded
by the insurer after being in force for two years? -
ANSWER>> Incontestability clause
Test Bank With 150 Questions And Correct Answers
What is the purpose of the Pre-Existing Condition
Insurance Plan (PCIP)? - ANSWER>> PCIP was created by
the PPACA for people rejected by private health insurers
due to pre-existing conditions
According 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
Life insurance surplus must be distributed to
policyowners at what frequency? - ANSWER>> Annually
1
,When selling a long term care insurance rider to an
applicant, a life agent must take into consideration all of
these factors, EXCEPT - ANSWER>> Attending physician's
statement
Paul has an existing annuity and is sold a new one, in which
the new policy holds no greater financial benefit to
him than the existing contract. This is considered a(n) -
ANSWER>> unnecessary replacement
The California Insurance Code allows an individual how
many days to cancel a life policy for a full-refund? -
ANSWER>> Between 10 and 30 days
According to the California code governing claim
settlement practices, which of the following is NOT
, considered to be an act of unfair discrimination? -
ANSWER>> Denial of a claim based on reckless behavior
According to the California Insurance Code, how is the
word "may" interpreted? - ANSWER>> Permissive
The free-look period for life insurance policyowners age
60 or older is - ANSWER>> 30 days
According to the California Insurance Code, what is
"insurance"? - ANSWER>> A contract
What prevents a life insurance policy from being rescinded
by the insurer after being in force for two years? -
ANSWER>> Incontestability clause
