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California Pre-Need Insurance Exam Questions With Complete Solutions
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California Pre-Need Insurance Exam Questions With Complete Solutions
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California Pre -Need Insurance Exam Questions With Complete Solutions Who would be in the least need of purchasing errors and omissions insurance? a. Architect b. Insurance agent c. Football player -star quarterback d. Beautician hhCorrect Answers hhc. Football player -star quarterback A term -to-65 life policy is paid up at 65 a. True b. False hhCorrect Answers hhb. False All are methods for handling a risk except: a. Retain the risk b. Transfer the risk c. Avoid the risk d. Identify and increase the hazards hhCorrect Answers hhd. Identify and increase the hazards Which of the fol lowing is not used to determining health insurance rates? a. Expense b. Interest c. Morbidity d. Mortality hhCorrect Answers hhd. Mortality A person applying for insurance has a hazardous job and the insurer wants to exclude anything that happens at work. T he type of policy would be: a. Limited b. Hazardous c. Non -occupational d. Level term hhCorrect Answers hhc. Non -occupational 6. Which is NOT part of a transitioning insurance? a. Solicitation b. Negotiation c. Execution of a contract d. Establishing a list of clients hhCorrect Answers hhd. Establishing a list of clients The best example of fiduciary responsibility is: a. Submitting premiums to the insurance company b. Serving the best interest of the client c. Annually reviewing the cli ents insurance d. Making sure a claim is handled promptly hhCorrect Answers hha. Submitting premiums to the insurance company What term describes the concept that the insurer and the insured share in: a. Stop loss limit b. Deductible c. Coinsurance d. Benef it restoration hhCorrect Answers hhc. Coinsurance Mike die before his annuity had paid out an amount at least equal to the purchase price of the annuity. Paul's beneficiary continues to receive what? a. Straight life annuity b. Joint and last survivor annui ty c. Refund life annuity d. Cash refund annuity hhCorrect Answers hhc. Refund life annuity What does the insurance commissioner have the right to do if an agent lacks authority from an insurer named on a binder for coverage? a. Request his certificate of a uthority b. Authorize agent with certificate of convenience c. Suspend or revoke the license of the agent d. Fine the insurance company hhCorrect Answers hhc. Suspend or revoke the license of the agent An insured bought an annuity 10 years ago. He will reti re in five years. To determine the value of the annuity, the number of accumulation units is: a. Variable annuity b. Fixed premium annuity c. Tax sheltered annuity d. Single payment annuity hhCorrect Answers hha. Variable annuity A person with an insurance agent/broker license is placing business with a company with whom he has an appointment. He is acting as: a. A broker b. He may choose to act as either c. An agent d. None of the above hhCorrect Answers hhc. An agent The person wh ose life is the object of a life insurance policy is a. Applicant b. Policy owner c. Insured d. Beneficiary hhCorrect Answers hhc. Insured The incontestability period in a funeral policy is: a. 1 year from the date issue b. 2 years from the date issue c. 2 years from the date issue or from the date of reinstatement d. 6 months from the date issue or from date of reinstatement hhCorrect Answers hhc. 2 years from the date issue or from the date of reinstatement A new person license will need to take continuing education courses. The requirements are: a. 25 hours during the first four 12 month intervals b. 25 hours during the first two 12 month intervals c. 25 during the first 48 hours d. 30 hours during the first 24 month intervals hhCorrect Answers hha. 25 hours during the first four 12 month intervals What type of policy builds cash value? a. Term insurance b. Permanent policy c. All policies d. No policies hhCorrect Answers hhb. Permanent policyThe benefits of buying summaries with Stuvia:
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