California Life, Accident, And Health Insurance Final Exam Questions With Correct
2 views 0 purchase
Course
Anthropology
Institution
Anthropology
California Life, Accident, And Health
Insurance Final Exam With 100% Correct
Solutions 2024
What distinguishes a deferred annuity from an immediate annuity? - Correct AnswerThe time at which benefit payments start
Cindy buys a 10-year certain annuity with an installment refund. After receiving ...
California Life, Accident, And Health Insurance Final Exam Questions With Correct
California Life, Accident, And Health
Insurance Final Exam With 100% Correct
Solutions 2024
What distinguishes a deferred annuity from an immediate annuity? - Correct Answer-
The time at which benefit payments start
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? - Correct Answer-60 payments
What is a common reason people purchase an annuity? - Correct Answer-To protect
against the risk of outliving their financial resources
What kind of annuity pays income to two annuitants until their deaths? - Correct
Answer-Joint and survivor annuity
What is a joint and survivor annuity? - Correct Answer-Provides payments the annuity to
two people. If either person dies, the same income payments continue to the survivor
for life. When the surviving annuitant dies, no further payments are made to anyone.
Victoria owns a life annuity and elects to receive annuity payments monthly for the
remainder of her life with "ten years certain". Her annuity will make payments - Correct
Answer-for a minimum of 120 months and a maximum of the remainder of her life
Which of the following statements regarding a life insurance policy dividend is TRUE? -
Correct Answer-It is the distribution of excess of funds accumulated by the insurer on
participating policies.
An insured owned by its policyholders is called a - Correct Answer-mutual insurer
An insurer enters into a contract with a third party to insure itself against losses from
insurance policies it issues. What is the agreement called? - Correct Answer-
Reinsurance
What is reinsurance? - Correct Answer-An arrangement by which an insurance
company transfers a portion of a risk it has assumed to another insurer
Which of the following is NOT a characteristic of reinsurance? - Correct Answer-
Increases the unearned premium reserve
California Life, Accident, And Health Insurance Final Exam Questions With Correct
, California Life, Accident, And Health Insurance Final Exam Questions With Correct
Which of the following is a contract that involves one party which indemnifies another
when a loss arises from an unknown event? - Correct Answer-Insurance policy
What is an insurance policy? - Correct Answer-A contract where one party promises to
indemnify another against loss that arises from an unknown event
What is residual disability income insurance payments based on? - Correct Answer-The
amount of the insured's income is reduced by the disability
Manuel is considered to be a disabled person as defined by the Americans with
Disabilities Act (ADA). As such, he is unable to perform any of the following life activities
EXCEPT - Correct Answer-Driving
Which of the following is NOT a provision in a disability income policy? - Correct
Answer-Deductible and coinsurance provision
Which of these statements is NOT true concerning recurrent disabilities? - Correct
Answer-The insurer continues coverage after a new elimination period
Kim is insured under a disability income insurance policy with an "own-occupation"
clause. She was recently injured in an automobile accident and can no longer perform
the tasks of her job. Kim is now considered to be - Correct Answer-totally disabled
What percentage of eligible employees must participate in a noncontributory group
health plan before it can be put in effect? - Correct Answer-100%
Business Overhead Expense Insurance pays for - Correct Answer-business expenses
when a business owner becomes disabled
Minimum participation standards exist for group health insurance plans in order to -
Correct Answer-prevent adverse selection
The problem of overinsurance is addressed in which health insurance provision? -
Correct Answer-Coordination of benefits
What is the purpose of the coordination of benefits (COB) provision? - Correct Answer-
To avoid duplication of benefit payments and overinsurance when an individual is
covered under more than one group health plan
Who is financially liable for the payment of covered claims in a fully insured group health
plan? - Correct Answer-Insurer
The insurer has the option of terminating a health insurance policy on a date stated in
the contract. What type of policy is this? - Correct Answer-Optionally renewable
California Life, Accident, And Health Insurance Final Exam Questions With Correct
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MasterGrade. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
