California Life Insurance State Compilled Exams Bundle Guaranteed Success 2024!!

Basic Medical Expense policies - Answer Provide coverage for Hospital, Surgical and Physicians Medical Expense. -Purchased as a individual or group policy. -provide first dollar coverage (no deductibles). -limited benefit periods and low coverage limits. Major Medical Expense Policy - Answe...

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

What is considered the most common type of specified disease insurance policy? - Answer Cancer Minimum participation standards exist for a group health insurance plans in order to - Answer Prevent Adverse Selection How does underwriting differ between group life and individual life insuran...

The systematic liquidation of a sum of money is provided by a(n) - Answer annuity An annuitant would like to determine the current value of her annuity. To do this, she multiplies the number of "accumulation units" she owns times the unit value of the "separate account". What kind of annuit...

A moral hazard - Answer is a dishonest person (lacking in morals) A morale hazard - Answer a careless person. A peril - Answer is a cause of loss Pure risk - Answer is insurable & includes only a chance of loss. The highest premium - Answer would be found with a substandard ris...

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

AN ANNUITY THAT IS PURCHASED WITH A LUMP SUM PREMIUM AND WHOSE BENEFITS BEGIN AFTER 12 MONTHS IS CALLED A - Answer 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 - Answe...

Exclusion ratio - Answer An annuitant would life 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 ration Offers a maximum interest rate that increases annually - A...

Employer-provided group term life insurance is exempt from income taxation up to - Answer $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? - Answer 3 months Which statement is true regardin...

Whole Life Policies - Answer also called permanent insurance, builds cash value, policy endows at age 100 401(k) - Answer a Cash or Deferred Arrangement (CODA) plan that is a modified profit-sharing or pension plan. 403(b) - Answer a Cash or Deferred Arrangement (CODA) plan that is a mod...

A ABC INSURANCE - Answer JOHN IS THE AGENT FOR ABC INSURANCE AND JANE IS THE INSURED. WHO IS THE PRINCIPAL IN THIS AGENCY RELATIONSHIP? A ABC INSURANCE B JOHN C JANE D NONE D ADMITTED - Answer A(N) ________ INSURER IS AUTHORIZED TO WRITE INSURANCE POLICIES IN A PARTICULAR STATE. A ...

Two methods of determining insurance need: - Answer - Human Life Approach - Needs Approach Human Life Value Approach~ - Answer - One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on th...

Carol is injured driving a company car at work. Her Health insurance coverage: AProvides excess or supplementary coverage BWill provide coverage on a pro-rata basis with Workers Compensation CWill cover her injuries DWill not cover her since this is an occupational injury - Answer D Expla...

A key person is typically all of the following, except: - Answer -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: p...