CA LIFE AND HEALTH INSURANCE EXAM 3
LATEST VERSIONS (VERSION A, B AND C) 2023-
2024 ACTUAL EXAM 150 QUESTIONS AND
CORRECT DETAILED ANSWERS
Terms in this set (164)
A $50,000 whole life policy The cash value is used to select a $20,000 paid-up
with a cash value of $10,000 policy.
has been in force for eleven
years. The policyowner is
unable to continue the
premium payments. Which
of the following describes
the reduced paid-up
nonfordeiture option?
A 10-year certain annuity 60 payments.
with an installment refund is
purchased. The annuitant
dies after receiving monthly
payments for 5 years. How
many remaining payments
MUST the insurer make?
A 10-year certain annuity 60 payments.
with an installment refund is
purchased. The annuitant
dies after receiving monthly
payments for 5 years. How
many remaining payments
will the insurer make?
,The accidental benefit rider double indemnity.
is also known as
According to the California financial rating of the insurer.
Insurance Code, an
insurance policy must
specify all of the following
EXCEPT the
According to the California a presentation of policy features that includes non-
Insurance Code, governing guaranteed elements.
the use of life insurance
policy illustrations, the term
illustration means
According to the California using Guarantee Funds to pay salaries.
Insurance Code, if an
insurer's certificate of
authority is revoked, the
Commissioner can proceed
with any of the following
actions EXCEPT
According to the California name is the licensee's actual name.
Insurance Code, the
Commissioner can
disapprove a licensee's
request to use a fictitious
name for any of the
following reasons EXCEPT
that the
The additional premium does not affect the policy's cash value.
charged by an insurer for
adding the accidental death
benefit to a whole life
policy
, The adjustments that
insurers make to the cash
value account in a
An agent who is acting as Fiduciary
an insurance agent, broker,
solicitor, life agent, accident
and health, or bail agent
acts in which capacity when
handling premiums or
return premiums for an
insured?
An agent who violates the mandatory termination of all insurer appointments.
laws governing life
insurance policy illustrations
is subject to all of the
following EXCEPT
All of the following are eliminates fraudulent losses.
benefits of insurance
EXCEPT it
All of the following are increases the unearned premium reserve.
characteristics of
reinsurance EXCEPT it
All of the following are number living at the end of designated year.
contained in a mortality
table EXCEPT
All of the following are there must be equal consideration between the parties.
requirements of contract
EXCEPT
All of the following are true face amount is paid if the insured survives to the end of
about term life insurance the policy period.
policies EXCEPT the
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