Exam (elaborations)
Life Insurance Agent Exam (1).
Life Insurance Agent Exam (1).
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Life Insurance Agent ExamTo meet the chronically ill trigger of a long term care policy, an individual must be unable to
perform a minimum of:
A. One activity of daily living.
B. Two activities of daily living.
C. Three activities of daily living.
D. Four activities of daily living. - ANS-B. Two activities of daily living.
The initial requirements for a licensed agent to sell long-term care insurance includes training in
all areas EXCEPT:
A. Financial planning.
B. Available long term care services and facilities.
C. California regulations.
D. Alternatives to the purchase of long term care insurance. - ANS-A. Financial Planning
A measure for rating an individual's need for long term care benefit is called:
A. A gatekeeper mechanism.
B. Activities of daily living.
C. Case management.
D. Co-insurance. - ANS-B. Activities of daily living.
A company that issues policies which do not grant the owner of the policy the right to receive
policy dividends is known as:
A. A mutual insurance company.
B. An inter-insurance exchange.
C.A reciprocal exchange.
,D. A stock insurance company. - ANS-D. A stock insurance company.
Health Maintenance Organization (HMO) are required to provide for all of the following services
EXCEPT:
A. Prescription drugs.
B. Emergency services.
C. Preventative services.
D. Physician services. - ANS-A. Prescription Drugs
Transaction of insurance includes all of the following EXCEPT:
A. Negotiating, discussing premiums and coverage levels.
B. Transacting.
C. Matters subsequent to the sale of insurance and arising as a result of it.
D. Stuffing envelopes with sales material on behalf of the agent. - ANS-D. Stuffing envelopes
with sales material on behalf of the agent.
Which of the following is defined as mandatory in the California Insurance Code:
A. May.
B. Implied warranty.
C. Expressed warranty.
D. Shall. - ANS-D. Shall
Neglecting to communicate that which a party knows, and ought to communicate, so that the
other party may make a sound decision is known as:
A. Concealment.
B. Material information.
C. Boycotting.
,D. Implied representation. - ANS-A. Concealment
During the free-look period, a person returns a variable annuity invested in mutual funds. What
will they receive:
A. Premiums.
B. Account value minus surrender charge.
C. Surrender charges.
D. Account Value. - ANS-D. Account Value
Which of the following types of disability is used to describe the loss of sight, hearing or speech
according to ADA ( American Disability Act):
A. Total disability.
B. Permanent Disability.
C. Recurrent Disability.
D. Partial Disability. - ANS-A. Total disability
All are group disability income underwriting factors EXCEPT:
A. Location of the insured business.
B. Length of the elimination period.
C. Composition of group based on age and gender.
D. Length of the probationary period,. - ANS-B. Length of the elimination period.B
Which of the following must a life agent issue to elders:
A. Policy Summary.
B. Buyers guide.
C. Notice of Medi-Cal eligibility.
D. Policy illustration. - ANS-B. Buyers guide
, At what age can a widow with adult children that left home claim Social Security survivor
benefits:
A. 65
B. 59 1/2
C. 55
D. 60 - ANS-D .60
The type of Universal Life plan where the fixed interest rate of the cash value is replaced by
another which permits the insured to choose from a variety of investment vehicles is known as
which of the following:
A. Variable annuity.
B. Variable Life.
C. Flexible premium variable life.
D. Equity index life. - ANS-C. Flexible Premium Variable Life
Which is not qualified retirement plan:
A. Tax sheltered annuity.
B. Keogh plan.
C. Profit sharing plan.
D. Deferred compensation. - ANS-D. Deferred compensation
An automatic premium loan will be made at what point in time:
A. At the beginning of the Grace period.
B. At the end of the Grace period.
C. At the end of the free look period.
D. During the surrender period. - ANS-B. At the end of the grace period
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