California Life, Accident, and Health
Licensing26
Co-insurance - ANSWERSThe policy provision which requires the insurer and the insured to
share in the cost of services rendered
Exclusion ratio - ANSWERSThe formula which is used by the IRS to determine how much is
taxable to an annuitant during the pay out period.
Occupational policy - ANSWERSWhen a disability income policy provides coverage for injuries
which occur on and off the job
Most disability income policies are non occupational, meaning - ANSWERSThey only cover the
insured if they become disabled while away from work.
Self employed individuals doesn't have - ANSWERSworkers compensation coverage. They need
coverage both on and off the job (occupational).
A life agent who offers for sale or sells any financial product on the basis of its treatment under
the MediCal Program must provide - ANSWERSThe Notice Regarding Standards for Medi-Cal
Eligibility. Must be signed by applicant.
A widow or widower without any children is eligible for social security survivors benefits at age -
ANSWERS60
A surviving spouse is eligible for social security survivor's benefits at age - ANSWERS60
,An authorized, or admitted carrier (insurer) - ANSWERSone which is under compliance with the
California Insurance Code (CIC) and can operate legally in California
Which type of life insurance utilizes the "level premium concept" - ANSWERSTraditional whole
life
Disability income policy proceeds must be paid out at least - ANSWERSmonthly
What life insurance rider will pay a monthly benefit to the insured when they become disabled -
ANSWERSThe disability income rider. It is a type of health (disability) insurance
Dread (Specified) Disease policies, such as cancer insurance, covers - ANSWERSTreatment for
one specific disease
The benefit paid out for a residual disability in a disability income policy is based upon -
ANSWERSa loss of a minimum of 20% of income
Agent may be either - ANSWERSCaptive (Exclusive) or independent
Captive agents - ANSWERSagents who agree by contract to represent only one insurer in the
sale of insurance
Independent agents - ANSWERSusually self-employed and often represent several insurance
companies
Under state law, agents must have at least - ANSWERSone appointment in order to keep their
license active
, Agents are prohibited from engaging in any of the following activities - ANSWERS1. using a
business name that implies that they are an insurer
2. advertising on behalf of a non-admitted insurer
3. offering free insurance as an inducement to purchase or sale
Under a group insurance plan a certificate of insurance is issued to - ANSWERSthe participants,
usually employees. The policy owner, usually employer, gets the master policy
Domestic insurer - ANSWERSone that domiciled (organized) in this state
Foreign insurer - ANSWERSone that organized in another state
Alien insurer - ANSWERSone that organized in another country.
All insurers need to obtain - ANSWERSa Certificate of Authority from the Commissioner in order
to be admitted to transact insurance in this state, except for Surplus Line insurers
Indemnity plans allow - ANSWERSthe insured to select any provider they wish.
Traditional indemnity plan - ANSWERSthe insured generally is supposed to submit their claims
directly to an insurer, in reality an "assignment of benefits" form is utilized and the medical care
provider submits the claim on the insured's behalf
Participants in a managed care indemnity plan - ANSWERSselect a provider and submits claims
to the insurer
When an insurer wants to have the applicant complete an HIV test, they must do - ANSWERS1)
Have the applicant sign a consent form
Licensing26
Co-insurance - ANSWERSThe policy provision which requires the insurer and the insured to
share in the cost of services rendered
Exclusion ratio - ANSWERSThe formula which is used by the IRS to determine how much is
taxable to an annuitant during the pay out period.
Occupational policy - ANSWERSWhen a disability income policy provides coverage for injuries
which occur on and off the job
Most disability income policies are non occupational, meaning - ANSWERSThey only cover the
insured if they become disabled while away from work.
Self employed individuals doesn't have - ANSWERSworkers compensation coverage. They need
coverage both on and off the job (occupational).
A life agent who offers for sale or sells any financial product on the basis of its treatment under
the MediCal Program must provide - ANSWERSThe Notice Regarding Standards for Medi-Cal
Eligibility. Must be signed by applicant.
A widow or widower without any children is eligible for social security survivors benefits at age -
ANSWERS60
A surviving spouse is eligible for social security survivor's benefits at age - ANSWERS60
,An authorized, or admitted carrier (insurer) - ANSWERSone which is under compliance with the
California Insurance Code (CIC) and can operate legally in California
Which type of life insurance utilizes the "level premium concept" - ANSWERSTraditional whole
life
Disability income policy proceeds must be paid out at least - ANSWERSmonthly
What life insurance rider will pay a monthly benefit to the insured when they become disabled -
ANSWERSThe disability income rider. It is a type of health (disability) insurance
Dread (Specified) Disease policies, such as cancer insurance, covers - ANSWERSTreatment for
one specific disease
The benefit paid out for a residual disability in a disability income policy is based upon -
ANSWERSa loss of a minimum of 20% of income
Agent may be either - ANSWERSCaptive (Exclusive) or independent
Captive agents - ANSWERSagents who agree by contract to represent only one insurer in the
sale of insurance
Independent agents - ANSWERSusually self-employed and often represent several insurance
companies
Under state law, agents must have at least - ANSWERSone appointment in order to keep their
license active
, Agents are prohibited from engaging in any of the following activities - ANSWERS1. using a
business name that implies that they are an insurer
2. advertising on behalf of a non-admitted insurer
3. offering free insurance as an inducement to purchase or sale
Under a group insurance plan a certificate of insurance is issued to - ANSWERSthe participants,
usually employees. The policy owner, usually employer, gets the master policy
Domestic insurer - ANSWERSone that domiciled (organized) in this state
Foreign insurer - ANSWERSone that organized in another state
Alien insurer - ANSWERSone that organized in another country.
All insurers need to obtain - ANSWERSa Certificate of Authority from the Commissioner in order
to be admitted to transact insurance in this state, except for Surplus Line insurers
Indemnity plans allow - ANSWERSthe insured to select any provider they wish.
Traditional indemnity plan - ANSWERSthe insured generally is supposed to submit their claims
directly to an insurer, in reality an "assignment of benefits" form is utilized and the medical care
provider submits the claim on the insured's behalf
Participants in a managed care indemnity plan - ANSWERSselect a provider and submits claims
to the insurer
When an insurer wants to have the applicant complete an HIV test, they must do - ANSWERS1)
Have the applicant sign a consent form
