Exam FX Life and Health (CA) missed questions #3 with answers.
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Course
FX Life and Health
Institution
FX Life And Health
ExamFXLifeandHealth(CA) missedquestions #3with
answers.
Which of the following CANNOT be included along with illustrations used to sell life
insurance? - Correct Answer Vanishing premium information
Following a career change, an insured is no longer required to perform many physical
activities...
Exam FX Life and Health (CA) missed questions #3 with
answers.
Which of the following CANNOT be included along with illustrations used to sell life
insurance? - Correct Answer Vanishing premium information
Following a career change, an insured is no longer required to perform many physical
activities, so he has implemented a program where he walks and jogs for 45 minutes each
morning. The insured has also eliminated most fatty foods from his diet. Which method of
dealing with risk does this scenario describe? - Correct Answer Reduction
In health insurance, if a doctor charges $50 more than what the insurance company
considers usual, customary and reasonable, the extra cost - Correct Answer Is not
covered
When a reduced-paid up nonforfeiture option is chosen, what happens to the face amount
of the policy? - Correct Answer It is reduced to the amount of what the cash value would
buy as a single premium.
A woman obtains health coverage through the Marketplace on October 1. Two weeks
later she finds out that she is 3 months pregnant. Which of the following is true about
coverage for pregnancy? - Correct Answer Pregnancy will be covered immediately.
A couple near retirement is planning for their golden years. They want to make sure that
their retirement annuity provides monthly benefits for the rest of their lives. Should one of
them die, the other would still like to continue receiving benefits. Which settlement option
should they choose? - Correct Answer Joint and Survivor
Which of the following is NOT true regarding the accumulation period of an annuity? -
Correct Answer It would not occur in a deferred annuity.
Which of the following is NOT a goal of risk retention? - Correct Answer To minimize the
insured's level of liability in the event of loss
Which of the following can surrender a deferred annuity contract? - Correct Answer Only
the annuity owner
Henry has a disability income policy. As the result of a traffic accident, he lost his left arm.
Henry's gross earned income before the disability was $3,000 a month. How much will his
disability income insurance pay per month? - Correct Answer Not to exceed $2,100.
Which renewability provision allows an insurer to terminate a policy for any reason, and to
increase the premiums for any class of insureds? - Correct Answer Optionally renewable
, If an insurer issued a policy based on the application that had unanswered questions,
which of the following will be TRUE? - Correct Answer The policy will be interpreted as if
the insurer waived its right to have an answer on the application.
What method is used to determine the taxable portion of each annuity payment? - Correct
Answer The exclusion ratio
First Dollar Coverage refers to a type of insurance which - Correct Answer Has no
deductible
The life insurance policy clause that prevents an insurance company from denying
payment of a death claim after a specified period of time is known as the - Correct Answer
Incontestability clause
If an employer provides long-term group disability insurance for its employees, what
percentage of monthly wages are lower-paid employees eligible to collect? - Correct
Answer 66 and 2/3%
In insurance, an offer is usually made when - Correct Answer An applicant submits an
application to the insurer
What type of care is Respite care? - Correct Answer Relief for a major care giver
If a firm has 80 employees that are actively engaged in business on at least 50% of its
working days during the preceding calendar year, what is its classification? - Correct
Answer Small employer
What is the waiting period on a Waiver of Premium rider in life insurance policies? -
Correct Answer 6 months
If an insurer's legal reserve funds are found to be less than the minimum required by law,
the insurer is - Correct Answer Insolvent
In an annuity, the accumulated money is converted into a stream of income during which
time period? - Correct Answer Annuitization period
What source pays for individual disability income premiums? - Correct Answer After-tax
dollars
An insured is covered under 2 group health plans - under his own and his spouse's. He
had suffered a loss of $2,000. After the insured paid the total of $500 in deductibles and
coinsurance, the primary insurer covered $1,500 of medical expenses. What amount, if
any, would be paid by the secondary insurer? - Correct Answer $500
All of the following are requirements of eligibility for Social Security disability income
benefits EXCEPT - Correct Answer Being age 65
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