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California Life Insurance Exam | Questions with 100% correct answers | verified
- Exam (elaborations) • 16 pages • 2023
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What is meant by referring to an insurance policy as a unilateral contract? - Only one party makes a 
legally enforceable promise. 
When must insurance records of insurance agents and brokers be made available to the Insurance 
Commissioner? - At all times. 
Any situation that presents the possibility of a loss is known as - a loss exposure 
Which of the following information is not required to be communicated in a Life insurance contract? - 
Personal judgment. 
The direct distribution of insura...
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Life-Only Agent Exam 1 Questions and Answers 100% Pass
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Life-Only Agent Exam 1 Questions and 
Answers 100% Pass 
AN example of a moral hazard in relation to a life insurance application would be: - Answer ️️ 
-Misstating your health history to an insurance company. 
John applies for a variable annuity and does not request that the premiums be immediately 
invested in a stock or bond portfolio. After the annuity is issued, John returns the annuity 
contract to the insurer within the free look period. What will John receive from the insurer? - 
Ans...
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California Life Insurance Bundled Exams Questions and Answers 100% Verified and Updated | Graded A
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California Life Insurance Bundled Exams Questions and Answers 100% Verified and Updated | Graded A
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CA Life and Health Exam Questions and Answers 100% Pass
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CA Life and Health Exam Questions and 
Answers 100% Pass 
What is insurance? - Correct Answer ️️ -Insurance is the legal contract where two 
parties agree that if something will happen, a value will be exchanged. 
What's the difference between pure risk and speculative risk? - Correct Answer ️️ - 
Pure risk is when you'll lose it all or there will be no change. Speculative risk you can 
either win or lose. 
What is peril? - Correct Answer ️️ -peril is the causes of loss insured aga...
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CALIFORNIA LIFE PRACTICE EXAM A QUESTIONS AND ANSWERS 100% CORRECT
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CALIFORNIA LIFE PRACTICE EXAM A QUESTIONS 
AND ANSWERS 100% CORRECT 
AN ANNUITY THAT IS PURCHASED WITH A LUMP SUM PREMIUM AND WHOSE 
BENEFITS BEGIN AFTER 12 MONTHS IS CALLED A - Correct Answer ️️ -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 - Correct Answer ️️ -HUMAN LIFE VALUE APPROACH 
WHEN REPLACING A POLICY THE PRODUCER MUST PRESENT THE APPLICANT 
WITH ...
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Final Exam - California Life and Health Questions and Answers
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Final Exam - California Life and Health 
Questions and Answers 
Employer-provided group term life insurance is exempt from income taxation up to - 
Correct Answer ️️ -$50,000 
Medicare Part B has an initial enrollment period. How many months after an individual's 
65th birthday month does this enrollment period end? - Correct Answer ️️ -3 months 
Which statement is true regarding policy dividends? - Correct Answer ️️ -A dividend 
option is selected by the insured at the time of poli...
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FInal Exam: California Life, Accident, and Health Insurance Questions and Answers 100% Pass
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FInal Exam: California Life, Accident, and Health 
Insurance Questions and Answers 100% Pass 
What distinguishes a deferred annuity from an immediate annuity? - Correct 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? - Correct Answer ️️ -60 payments 
What is a common reason people purchase ...
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California Life, Accident, and Health Licensing Exam Questions and Answers 100% Pass
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California Life, Accident, and Health Licensing 
Exam Questions and Answers 100% Pass 
Co-insurance - Correct Answer ️️ -The policy provision which requires the insurer and 
the insured to share in the cost of services rendered 
Exclusion ratio - Correct Answer ️️ -The formula which is used by the IRS to determine 
how much is taxable to an annuitant during the pay out period. 
Occupational policy - Correct Answer ️️ -When a disability income policy provides 
coverage for injuries wh...
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CA Life Insurance Practice Exam Questions and Answers 100% Pass
- Exam (elaborations) • 30 pages • 2024
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CA Life Insurance Practice Exam 
Questions and Answers 100% Pass 
A key person is typically all of the following, except: - Correct Answer ️️ --Not directly 
involved in sales, production, or service 
Key persons are employees whose contributions have a significant impact on the 
revenue and profitability of the company, especially in small businesses. They are 
typically: part of the management team, more highly paid, respected by customers, 
creditors, suppliers, and vendors, and have dire...
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Life and Health License Exam Questions and Answers 100% Pass
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Life and Health License Exam Questions and 
Answers 100% Pass 
Only one party makes a legally enforceable promise - Correct Answer ️️ -What is 
meant by referring to an insurance policy as a unilateral contract? 
At all times - Correct Answer ️️ -When must insurance records of insurance agents 
and brokers be made available to the Insurance Commissioner? 
a loss exposure - Correct Answer ️️ -Any situation that presents the possibility of a 
loss is known as 
Personal judgment - Corre...
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Final Exam - California Life Only Questions and Answers 100% Pass
- Exam (elaborations) • 28 pages • 2024
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Final Exam - California Life Only 
Questions and Answers 100% Pass 
According to the California Insurance Code, what is "insurance"? - Correct Answer ️️ - 
A contract 
Which of these statements correctly describes risk? - Correct Answer ️️ -Pure risk is 
the only insurable risk 
Only pure risks are insurable 
Which of the following does NOT have to be included on life insurance policy 
illustrations? - Correct Answer ️️ -Statement that all values and benefits are 
guaranteed 
An ag...
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CALIFORNIA LIFE PRACTICE EXAM QUESTIONS AND ANSWERS 100% PASS
- Exam (elaborations) • 9 pages • 2024
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CALIFORNIA LIFE PRACTICE EXAM 
QUESTIONS AND ANSWERS 100% PASS 
THE ANNUITY INCOME AMOUNT IS BASED ON WHOSE LIFE? - Correct Answer ️️ 
-ANNUITANT 
AN INJURED PARTY TO A CONTRACT IS ABLE TO RESCIND THE CONTRACT 
FOR - Correct Answer ️️ -UNINTENTIONAL CONCEALMENT 
A WHOLE LIFE POLICY THAT WILL GENERATE IMMEDIATE CASH VALUE IS - 
Correct Answer ️️ -SINGLE PREMIUM 
WHICH STATEMENT IS TRUE REGARDING LONG-TERM CARE TRAINING IN 
CALIFORNIA? - Correct Answer ️️ -TRAINING IS NOT REQUIRED ...
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