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CA Life health accident exam Questions with correct solutions
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  • CA Life health accident
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  • CA Life Health Accident

f an insurer indicates that an illustration will be used, they must do which of the following? - ANSWER-Send a summary status report to policy owner annually What does the phrase "life insurance creates an immediate estate" mean? - ANSWER-The total death benefit will be paid to a beneficiary on ...

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  • February 11, 2024
  • 12
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • ca life health accident exam questions with correc
  • ca life health accident exam stuvia
  • if an insurer indicates that an illustration will

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  • CA Life health accident
  • CA Life health accident

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CA Life health accident exam Questions with correct solutions
If an insurer indicates that an illustration will be used, they must do which of the following? - ANSWER-Send a summary status report to policy owner annually
What does the phrase "life insurance creates an immediate estate" mean? - ANSWER-
The total death benefit will be paid to a beneficiary on the death of insured
In order to qualify for social security retirement benefits the worker must be: - ANSWER-
Fully insured
If an insurer knowingly allows one of its agents to mislead a member of the public in order to induce the person to change their existing insurance, the Commissioner may: - ANSWER-Suspend the insurer's certificate of authority for the class of business involved
In a worker's Compensation contract, part one provides payments for which of the following? - ANSWER-Sums the employer is legally required to pay under State Worker's Compensation Laws
In a noncontributory group disability income insurance plan, what is the tax treatment of benefits received by an employee? - ANSWER-Benefits are included in the employee's gross income
What refund is owed when a senior citizen elects the right to return and cancel an individual variable annuity policy invested in a money market fund? - ANSWER-Paid premiums and policy fees
From lowest to highest, which is the correct order of initial premiums for the insurance policies? - ANSWER-Modified premium, Ordinary premium, Single premium
Insurance includes all of the following activities EXCEPT - ANSWER-Publishing a newspaper in which one of the advertiser is an insurance agent According to California Insurance Code, how must an agent publicize the right to return information to a senior citizen purchasing an annuity policy? - ANSWER-On the cover page of a policy jacket
As defined by California Insurance Code, "insurance" is a - ANSWER-Contract
In a 7 yr vesting schedule, what percentage of employer contributions must be vested after 6 years? - ANSWER-80%
Yrs=1(0%) 2(0%) 3 (20%) 4 (40%) 5 (60%) 6(80%) 7 (100%)
The insured is totally and permanently disables. The insured's policy continues in force without the payment of a premium because the policy contains a: - ANSWER-waiver of a premium provision
To be fully insured for Social Security benefits, a worker must be credited with - ANSWER-40 quarters of coverage
In a group life insurance policy, who are the parties to the contract? - ANSWER-The insurer and the employer
Which of the following is NOT a characteristic of a contributory group insurance plan? - ANSWER-The policy owner pays all of the cost
When is the automatic loan provision activated? - ANSWER-At the end of grace period
Who must sign a statement acknowledging that a life insurance policy is to be replaced by an applicant? - ANSWER-The applicant and the agent
A beneficiary wants to let the death benefit accumulate and receive only the monthly investment proceeds. Which settlement option should be chosen? - ANSWER-Interest option

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