CALIFORNIA LIFE PRACTICE EXAM A.pdf file:///C:/Users/HP/Desktop/NIW/CALIFORNIA%20LIFE%20PRA
CALIFORNIA LIFE PRACTICE EXAM A
1. AN ANNUITY THAT IS PURCHASED WITH A LUMP SUM PREMIUM AND WHOSE
BENEFITS BEGIN AFTER 12 MONTHS IS CALLED A
Answer SINGLE PRE- MIUM DEFERRED ANNUITY
2. A TECHNIQUE USED TO DETERMINE THE AMOUNT OF LIFE INSURANCE NEEDED
BY FOCUSING ON THE PROJECTED EARNING POTENTIAL OF AN INSURED IS CALLED
THE
Answer HUMAN LIFE VALUE APPROACH
3. WHEN REPLACING A POLICY THE PRODUCER MUST PRESENT THE AP- PLICANT
WITH A NOTICE REGARDING REPLACEMENT OF LIFE INSURANCE-
Answer AT THE TIME OF TAKING THE APPLICATION
4. THE POSSIBILITY OF A FINANCIAL LOSS INCURRED BY A LIFE INSUR- ANCE
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,CALIFORNIA LIFE PRACTICE EXAM A.pdf file:///C:/Users/HP/Desktop/NIW/CALIFORNIA%20LIFE%20PRA
COMPANY FOR THE PREMATURE DEATH OF AN INSURED IS KNOW AS A
Answer RISK
5. THE MEDICAL INFORMATION BUREAU (MIB) IS A NONPROFIT TRADE AS-
SOCIATION THAT MAINTAINS
Answer MEDICAL INFORMATION ON APPLICANTS FOR LIFE AND HEALTH INSURANCE
6. A PERSON WHO SIGNS A FRAUDULENT CLAIM FORM MAY BE FOUND GUILTY OF
Answer PERJURY
7. WHICH POLICY IS A COMBINATION OF ANNUAL RENEWABLE TERM IN- SURANCE
AND INTEREST-SENSITIVE CASH VALUE
Answer UNIVERSAL LIFE
8. THE RIGHTTO A FULL REFUND OF PREMIUMS FOR INSUREDS AGE 60 OR OLDER IS
Answer 30 DAYS
9. THE PREMIUM MODES CAN BE BEST DESCRIBED AS THE
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