CALIFORNIA LIFE PRACTICE
K
EXAM A QUESTIONS AND
C
CORRECT VERIFIED
LO
ANSWERS 100% GUARANTEED
PASS A+ GRADED
YC
D
U
ST
, AN ANNUITY THAT IS PURCHASED WITH A LUMP SUM PREMIUM AND WHOSE
BENEFITS BEGIN AFTER 12 MONTHS IS CALLED A - ANS 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
- ANS HUMAN LIFE VALUE APPROACH
WHEN REPLACING A POLICY THE PRODUCER MUST PRESENT THE APPLICANT WITH A
NOTICE REGARDING REPLACEMENT OF LIFE INSURANCE - ANS AT THE TIME OF
TAKING THE APPLICATION
THE POSSIBILITY OF A FINANCIAL LOSS INCURRED BY A LIFE INSURANCE COMPANY
K
FOR THE PREMATURE DEATH OF AN INSURED IS KNOW AS A - ANS RISK
THE MEDICAL INFORMATION BUREAU (MIB) IS A NONPROFIT TRADE ASSOCIATION
THAT MAINTAINS - ANS MEDICAL INFORMATION ON APPLICANTS FOR LIFE AND
C
HEALTH INSURANCE
A PERSON WHO SIGNS A FRAUDULENT CLAIM FORM MAY BE FOUND GUILTY OF - ANS
PERJURY
LO
WHICH POLICY IS A COMBINATION OF ANNUAL RENEWABLE TERM INSURANCE AND
INTEREST-SENSITIVE CASH VALUE - ANS UNIVERSAL LIFE
THE RIGHT TO A FULL REFUND OF PREMIUMS FOR INSUREDS AGE 60 OR OLDER IS -
ANS 30 DAYS
THE PREMIUM MODES CAN BE BEST DESCRIBED AS THE - ANS FREQUENCY OF
YC
PREMIUM PAYMENT
INTENTIONALLY OMITTING A HISTORY OF HEART PROBLEMS ON AN APPLICATION IS -
ANS CONCEALMENT
A TAX-SHELTERED ANNUITY (TSA) IS A QUALIFIED PLAN AVAILABLE FOR - ANS
NONPROFIT ORGANIZATIONS
THE INTENT OF REPLACEMENT REGULATIONS IS TO PROTECT THE - ANS
D
POLICYOWNER
WHICH PROVISION ALLOWS A LAPSED POLICY TO BE PUT BACK IN FORCE? - ANS
REINSTATEMENT
U
ACCORDING TO THE CALIFORNIA DEPARTMENT OF INSURANCE, AN INSURER WHOSE
ARTICLES OF INCORPORATION ARE REGISTERED IN OSLO, NORWAY IS CONSIDERED
A/AN - ANS ALIEN INSURER
ST
MORTALITY IS DEFINED AS THE - ANS RATE OF DEATH
WHICH OF THE FOLLOWING IS NOT A CHARACTERISTIC OF GROUP LIFE INSURANCE? -
ANS A GROUP MAY EXIST FOR THE PURPOSE OF PURCHASING INSURANCE.
WHEN A PRODUCER COLLECTS THE INITIAL PREMIUM AND ISSUES A CONDITIONAL
RECEIPT, THE RECEIPT - ANS MAY ALLOW LIFE INSURANCE COMPANIES TO START
COVERAGE BEFORE POLICY DELIVERY
THE LAW OF LARGE NUMBERS ALLOWS AN INSURANCE COMPANY TO PREDICT THE
EXPECTED LOSSES AMONG - ANS MEMBERS OF A GROUP OF INDIVIDUALS WITH
SIMILAR RISKS
IF AN INSURER'S LEGAL RESERVE FUNDS ARE FOUND TO BE LESS THAN THE
MINIMUM REQUIRED BY LAW THE INSURER IS CONSIDERED - ANS INSOLVENT
K
EXAM A QUESTIONS AND
C
CORRECT VERIFIED
LO
ANSWERS 100% GUARANTEED
PASS A+ GRADED
YC
D
U
ST
, AN ANNUITY THAT IS PURCHASED WITH A LUMP SUM PREMIUM AND WHOSE
BENEFITS BEGIN AFTER 12 MONTHS IS CALLED A - ANS 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
- ANS HUMAN LIFE VALUE APPROACH
WHEN REPLACING A POLICY THE PRODUCER MUST PRESENT THE APPLICANT WITH A
NOTICE REGARDING REPLACEMENT OF LIFE INSURANCE - ANS AT THE TIME OF
TAKING THE APPLICATION
THE POSSIBILITY OF A FINANCIAL LOSS INCURRED BY A LIFE INSURANCE COMPANY
K
FOR THE PREMATURE DEATH OF AN INSURED IS KNOW AS A - ANS RISK
THE MEDICAL INFORMATION BUREAU (MIB) IS A NONPROFIT TRADE ASSOCIATION
THAT MAINTAINS - ANS MEDICAL INFORMATION ON APPLICANTS FOR LIFE AND
C
HEALTH INSURANCE
A PERSON WHO SIGNS A FRAUDULENT CLAIM FORM MAY BE FOUND GUILTY OF - ANS
PERJURY
LO
WHICH POLICY IS A COMBINATION OF ANNUAL RENEWABLE TERM INSURANCE AND
INTEREST-SENSITIVE CASH VALUE - ANS UNIVERSAL LIFE
THE RIGHT TO A FULL REFUND OF PREMIUMS FOR INSUREDS AGE 60 OR OLDER IS -
ANS 30 DAYS
THE PREMIUM MODES CAN BE BEST DESCRIBED AS THE - ANS FREQUENCY OF
YC
PREMIUM PAYMENT
INTENTIONALLY OMITTING A HISTORY OF HEART PROBLEMS ON AN APPLICATION IS -
ANS CONCEALMENT
A TAX-SHELTERED ANNUITY (TSA) IS A QUALIFIED PLAN AVAILABLE FOR - ANS
NONPROFIT ORGANIZATIONS
THE INTENT OF REPLACEMENT REGULATIONS IS TO PROTECT THE - ANS
D
POLICYOWNER
WHICH PROVISION ALLOWS A LAPSED POLICY TO BE PUT BACK IN FORCE? - ANS
REINSTATEMENT
U
ACCORDING TO THE CALIFORNIA DEPARTMENT OF INSURANCE, AN INSURER WHOSE
ARTICLES OF INCORPORATION ARE REGISTERED IN OSLO, NORWAY IS CONSIDERED
A/AN - ANS ALIEN INSURER
ST
MORTALITY IS DEFINED AS THE - ANS RATE OF DEATH
WHICH OF THE FOLLOWING IS NOT A CHARACTERISTIC OF GROUP LIFE INSURANCE? -
ANS A GROUP MAY EXIST FOR THE PURPOSE OF PURCHASING INSURANCE.
WHEN A PRODUCER COLLECTS THE INITIAL PREMIUM AND ISSUES A CONDITIONAL
RECEIPT, THE RECEIPT - ANS MAY ALLOW LIFE INSURANCE COMPANIES TO START
COVERAGE BEFORE POLICY DELIVERY
THE LAW OF LARGE NUMBERS ALLOWS AN INSURANCE COMPANY TO PREDICT THE
EXPECTED LOSSES AMONG - ANS MEMBERS OF A GROUP OF INDIVIDUALS WITH
SIMILAR RISKS
IF AN INSURER'S LEGAL RESERVE FUNDS ARE FOUND TO BE LESS THAN THE
MINIMUM REQUIRED BY LAW THE INSURER IS CONSIDERED - ANS INSOLVENT
