Exam (elaborations)
CALIFORNIA LIFE PRACTICE EXAM A 2024/2025 ( 100% verified)
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CALIFORNIA LIFE PRACTICE EXAM A 2024/2025 ( 100% verified)
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CALIFORNIA LIFE PRACTICE EXAM AAN ANNUITY THAT IS PURCHASED WITH A LUMP SUM PREMIUM AND WHOSE
BENEFITS BEGIN AFTER 12 MONTHS IS CALLED A - ANSSINGLE PREMIUM DEFERRED
ANNUITY
A TECHNIQUE USED TO DETERMINE THE AMOUNT OF LIFE INSURANCE NEEDED BY
FOCUSING ON THE PROJECTED EARNING POTENTIAL OF AN INSURED IS CALLED THE
- ANSHUMAN LIFE VALUE APPROACH
WHEN REPLACING A POLICY THE PRODUCER MUST PRESENT THE APPLICANT WITH A
NOTICE REGARDING REPLACEMENT OF LIFE INSURANCE - ANSAT THE TIME OF
TAKING THE APPLICATION
THE POSSIBILITY OF A FINANCIAL LOSS INCURRED BY A LIFE INSURANCE COMPANY
FOR THE PREMATURE DEATH OF AN INSURED IS KNOW AS A - ANSRISK
THE MEDICAL INFORMATION BUREAU (MIB) IS A NONPROFIT TRADE ASSOCIATION
THAT MAINTAINS - ANSMEDICAL INFORMATION ON APPLICANTS FOR LIFE AND HEALTH
INSURANCE
A PERSON WHO SIGNS A FRAUDULENT CLAIM FORM MAY BE FOUND GUILTY OF -
ANSPERJURY
WHICH POLICY IS A COMBINATION OF ANNUAL RENEWABLE TERM INSURANCE AND
INTEREST-SENSITIVE CASH VALUE - ANSUNIVERSAL LIFE
THE RIGHT TO A FULL REFUND OF PREMIUMS FOR INSUREDS AGE 60 OR OLDER IS -
ANS30 DAYS
THE PREMIUM MODES CAN BE BEST DESCRIBED AS THE - ANSFREQUENCY OF
PREMIUM PAYMENT
INTENTIONALLY OMITTING A HISTORY OF HEART PROBLEMS ON AN APPLICATION IS -
ANSCONCEALMENT
A TAX-SHELTERED ANNUITY (TSA) IS A QUALIFIED PLAN AVAILABLE FOR -
ANSNONPROFIT ORGANIZATIONS
THE INTENT OF REPLACEMENT REGULATIONS IS TO PROTECT THE -
ANSPOLICYOWNER
, WHICH PROVISION ALLOWS A LAPSED POLICY TO BE PUT BACK IN FORCE? -
ANSREINSTATEMENT
ACCORDING TO THE CALIFORNIA DEPARTMENT OF INSURANCE, AN INSURER WHOSE
ARTICLES OF INCORPORATION ARE REGISTERED IN OSLO, NORWAY IS CONSIDERED
A/AN - ANSALIEN INSURER
MORTALITY IS DEFINED AS THE - ANSRATE OF DEATH
WHICH OF THE FOLLOWING IS NOT A CHARACTERISTIC OF GROUP LIFE INSURANCE? -
ANSA GROUP MAY EXIST FOR THE PURPOSE OF PURCHASING INSURANCE.
WHEN A PRODUCER COLLECTS THE INITIAL PREMIUM AND ISSUES A CONDITIONAL
RECEIPT, THE RECEIPT - ANSMAY ALLOW LIFE INSURANCE COMPANIES TO START
COVERAGE BEFORE POLICY DELIVERY
THE LAW OF LARGE NUMBERS ALLOWS AN INSURANCE COMPANY TO PREDICT THE
EXPECTED LOSSES AMONG - ANSMEMBERS OF A GROUP OF INDIVIDUALS WITH
SIMILAR RISKS
IF AN INSURER'S LEGAL RESERVE FUNDS ARE FOUND TO BE LESS THAN THE
MINIMUM REQUIRED BY LAW THE INSURER IS CONSIDERED - ANSINSOLVENT
WHICH TYPE OF POLICY WOULD BE SUITABLE TO PROTECT THE BALANCE OF A HOME
MORTGAGE? - ANSDECREASING TERM
WHEN MUST INSURABLE INTEREST EXIST? - ANSAT THE TIME OF APPLICATION
THE RIDER THAT PROVIDES FOR PARTIAL PAYMENT OF THE DEATH BENEFIT IN
ADVANCE TO HELP WITH NURSING OR COALESCENT HOME EXPENSES IS THE -
ANSLONG-TERM CARE
WHICH ANNUITY PAYOUT OPTIONS GUARANTEES THE RETURN OF ALL THE PRINCIPAL
INVESTED IN THE CONTRACT? - ANSREFUND LIFE ANNUITY
WHICH OF THE FOLLOWING STATEMENTS IS NOT TRUE ABOUT PARTICIPATION
POLICIES? - ANSTHEY PAY DIVIDENDS TO STOCKHOLDERS
INSURANCE CONTRACTS ARE BASED UPON A DOCTRINE WHICH REQUIRES ALL
PARTIES TO THE CONTRACT TO BE HONEST. THIS IS KNOWN AS THE DOCTRINE OF -
ANSUTMOST GOOD FAITH
ACCORDING TO THE CALIFORNIA INSURANCE CODE, LIFE-ONLY PRODUCERS MUST
KEEP RECORDS OF THEIR TRANSACTIONS FOR AT LEAST - ANS5 YEARS
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