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CALIFORNIA LIFE,ACCIDENT AND HEALTH STATE REAL EXAM AND STUDY GUIDE 200 QUESTIONS AND CORRECT ANSWERS LATEST VERSION//ALREADY GRADED A+$22.49
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CALIFORNIA LIFE,ACCIDENT AND HEALTH STATE REAL EXAM AND STUDY GUIDE 200 QUESTIONS AND CORRECT ANSWERS LATEST VERSION//ALREADY GRADED A+
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CALIFORNIA LIFE,ACCIDENT AND HEALTH STATE REAL EX
Institution
CALIFORNIA LIFE,ACCIDENT AND HEALTH STATE REAL EX
CALIFORNIA LIFE,ACCIDENT AND HEALTH STATE REAL
EXAM AND STUDY GUIDE 200 QUESTIONS AND
CORRECT ANSWERS LATEST
VERSION//ALREADY GRADED A+
CALIFORNIA LIFE,ACCIDENT AND HEALTH STATE REAL
EXAM AND STUDY GUIDE 200 QUESTIONS AND
CORRECT ANSWERS LATEST
VERSION//ALREADY GRADED A+
CALIFORNIA LIFE,ACCIDENT AND HEALTH STATE REAL
EXAM AND STUDY GUIDE 200 QUESTIONS AND
CORRECT ANSWERS 2024-2025 LATEST
VERSION//ALREADY GRADED A+
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?
- No payments
- 30 payments
- 60 payments
- 120 payments - CORRECT ANSWER-60 Payments
An annuitant would like to determine the amount of an annuity distribution that is exempt from
taxation. What is used to calculate this?
- Mortality rate
- Exclusion ratio
- Morbidity rate
- Debt-to-Equity ratio - CORRECT ANSWER-Exclusion ratio
The systematic liquidation of a sum of money is provided by a(n)
- annuity
- endowment contract
- life insurance policy
- 1035 contract exchange - CORRECT ANSWER-annuity
Which of the following is NOT a feature of equity-indexed annuities?
- Offers long term inflation protection
- Offers a minimum guarantee rate
- Offers a maximum interest rate that increases annually
,- Offers protection during a decline in the stock market - CORRECT ANSWER-Offers a maximum interest
rate that increases annually
What kind of annuity pays income to two annuitants until their deaths?
- Period certain annuity
- Joint and survivor annuity
- Straight life annuity
- Installment refund - CORRECT ANSWER-Joint and survivor annuity
A savings vehicle designed to first accumulate funds and then systematically liquidates the funds is
called a(n)
- immediate annuity
- deferred annuity
- endowment
- whole life policy - CORRECT ANSWER-deferred annuity
An annuity which is backed by a life insurer's separate account is called a(n)
- equity indexed annuity
- variable annuity
- immediate annuity
- 403(b) plan - CORRECT ANSWER-variable annuity
Which of the following is a contract that involves one party which indemnifies another when a loss
arises from an unknown event?
- Insurance policy
- Warranty arrangement
- Indemnification arrangement
- Loss contract - CORRECT ANSWER-Insurance Policy
,Which of the following is an insurer established by a parent company for the purpose of insuring the
parent company's loss exposures?
John owns an insurance policy that gives him the right to share in the insurer's surplus. What kind of
policy is this?
- Surplus
- Nonparticipating
- Participating
- Contributory - CORRECT ANSWER-Participating
One important function of an insurance company is to identify and sell to potential customers. Which of
these BEST describes this function?
- Reinsurance
- Underwriting
- Marketing
- Regulation - CORRECT ANSWER-Marketing
When a mutual insurer becomes a stock company, the process is called
- Reinsurance
- Mutualization
- Demutualization
- Reorganization - CORRECT ANSWER-Demutualization
What is a participating life insurance policy?
- Agreement that insurers two or more lives
- Agreement that allows two or more beneficiaries to share in the death benefit
, - Contract that gives beneficiaries the right to participate in any dividends
- Contract that allows the policyowner to receive a share of surplus in the form of policy dividends -
CORRECT ANSWER-Contract that allows the policyowner to receive a share of surplus in the form of
policy dividends
The elimination period is a disability income policy serves the same purpose as
- a deductible
- coinsurance
- an elective indemnity
- waiver of premium - CORRECT ANSWER-a deductible
Under a disability income insurance policy, which criteria must be met for "bodily injury" to be classified
as accidental?
- Only the result needed be of natural cause
- Only the cause need be accidental
- Both the injury and the cause need be accidental
- The cause may be intentional, but the result must be accidental - CORRECT ANSWER-The cause may be
intentional, but the result must be accidental
What are residual disability income insurance payments based on?
- A flat benefit amount stated in the policy
- 50% of the full disability amount
- The amount of the insured's income is reduced by the disability
- The insured must be totally disabled - CORRECT ANSWER-The amount of the insured's income is
reduced by the disability
Dyan is considered partially disabled by her insurance company. Which of the following BEST describes
her situation?
- She is working part-time and receiving lost income under her long-term disability benefit
- She has lost hearing in one ear because of an accident on the job
- She is unable to work and receiving worker's compensation
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