Final Exam - California Life and Health/ 148 Quizzes with Certified Ans.
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Course
California Life and Health
Institution
California Life And Health
Final Exam - California Life and Health/ 148 Quizzes with Certified Ans. Terms like:
The elimination period in a disability income policy serves the same purpose as a(n) ______ in a medical expense policy. - Answer: deductible
What is required after a life agent sells an insurance policy to ...
Final Exam - California Life and Health/ 148
Quizzes with Certified Ans.
The elimination period in a disability income policy serves the same purpose as
a(n) ______ in a medical expense policy. - Answer: deductible
What is required after a life agent sells an insurance policy to an applicant without
being appointed by the insurer? - Answer: Notice of appointment must be
submitted to the Commissioner
Retirement plans are prevented from favoring highly compensated employees
under which government regulation? - Answer: Nondiscrimination
ESOPs are typically invested in - Answer: employer stock
Page 1 of 20
,The reason for social insurance is to - Answer: protect certain vulnerable
segments of the population
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? - Answer: 60 payments
he free-look period for life insurance policyowners age 60 or older is - Answer: 30
days
What is considered to be the definition of disability, according to Social Security? -
Answer: Unable to engage in any substantial gainful activity
"Life insurance creates an immediate estate". This phrase means: - Answer: when
the insured dies, a death benefit is paid
How are death benefits that are received by a beneficiary normally treated for tax
purposes? - Answer: Exempt from federal income taxes
Exempt from federal income taxes - Answer: Payment for services goes directly to
the provider
When an insurance company requests an attending physician's report, the request
must be accompanied by a - Answer: copy of the signed authorization
Page 2 of 20
, Which policy provision protects the policyowner from unintentional lapse of the
contract? - Answer: Grace period
What kind of annuity pays income to two annuitants until their deaths? - Answer:
Joint and survivor annuity
What type of changes can be made to a guaranteed renewable health insurance
policy? - Answer: The premium rates of the policyowner
Which of the following is NOT considered to be insurer expenses? - Answer: Policy
premiums
In what situation does a waiver of premium provision keep a health insurance
policy in force without premium payments? - Answer: When an insured becomes
totally disabled
What is an "insurance broker" according to California Insurance Code? - Answer: A
person authorized to assist a broker or agent in transacting insurance.
A participating company is also referred to as which type of insurer? - Answer:
Mutual insurer
Which of the following is NOT considered to be an act of insurance solicitation? -
Answer: Publishing a magazine where one of the advertisers is an insurer
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