California Life, Accident, and Health Bundled Exams with complete solution

A key person is typically all of the following, except: - -Not directly involved in sales, production, or service Key persons are employees whose contributions have a significant impact on the revenue and profitability of the company, especially in small businesses. They are typically: part of th...

Co-insurance - The policy provision which requires the insurer and the insured to share in the cost of services rendered Exclusion ratio - The formula which is used by the IRS to determine how much is taxable to an annuitant during the pay out period. Occupational policy - When a disability inco...

What is meant by referring to an insurance policy as a unilateral contract? - Only one party makes a legally enforceable promise. When must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? - At all times. Any situation that presents the possibili...

AN ANNUITY THAT IS PURCHASED WITH A LUMP SUM PREMIUM AND WHOSE BENEFITS BEGIN AFTER 12 MONTHS IS CALLED A - SINGLE 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 - HUMAN LIFE VAL...

What is insurance? - Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. What's the difference between pure risk and speculative risk? - Pure risk is when you'll lose it all or there will be no change. Speculative risk you can either...

What distinguishes a deferred annuity from an immediate annuity? - 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 beneficia...

Employer-provided group term life insurance is exempt from income taxation up to - $50,000 Medicare Part B has an initial enrollment period. How many months after an individual's 65th birthday month does this enrollment period end? - 3 months Which statement is true regarding policy dividends? -...