Exam (elaborations)
Final Exam: California Life, Accident, and Health Insurance 2024/2025 already graded A+
- Course
- Institution
Final Exam: California Life, Accident, and Health Insurance 2024/2025 already graded A+
[Show more]
Content preview
Final Exam: California Life, Accident, andHealth Insurance
The systematic liquidation of a sum of money is provided by a(n) - ANSannuity
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 annuity BEST matches this description? - ANSVariable annuity
What kind of annuity pays income to two annuitants until their deaths? - ANSJoint and survivor
annuity
What distinguishes a deferred annuity from an immediate annuity? - ANSThe time at which
benefit payments start
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 - ANSfor a minimum of 120
months and a maximum of the remainder of her life
When a mutual insurer becomes a stock company, the process is called - ANSDemutualization
An insurer owned by its policyholders is called a - ANSmutual insurer
Which of the following statements regarding a life insurance policy dividend is TRUE? - ANSIt is
the distribution of excess of funds accumulated by the insurer on participating policies
A participating company is also referred to as which type of insurer? - ANSMutual insurer
Which of the following is NOT a benefit of insurance? - ANSLosses due to fraud are eliminated
Which of the following is NOT a provision in a disability income policy? - ANSDeductible and
coinsurance provision
Which of these statements is NOT true concerning recurrent disabilities? - ANSThe insurer
continues coverage after a new elimination period
Allen has a disability income policy with a $2,500 monthly benefit and a 30-day elimination
period. He is unable to work 90 days following an automobile accident. What will the policy pay?
- ANS$5,000
, 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 - ANSDriving
Under a disability income policy, which criteria must be met for "bodily injury" to be classified as
accidental? - ANSThe cause may be intentional, but the result must be accidental
During the underwriting process for a group health policy, it was discovered that 15 out of 50
members of the group have major health issues. How would the insurer handle this? -
ANSAccept or reject the whole group
Coverage is limited for vision and dental insurance in all of the following ways, EXCEPT -
ANSSpecific dollar amount for examinations
An eligible individual who would like to obtain group health insurance without providing evidence
of insurability must - ANSenroll within a specified eligibility period
In regards to a group health insurance plan, which statement is CORRECT? - ANSA
non-contributory group health plan must cover all eligible members
The problem of overinsurance is addressed in which health insurance provision? -
ANSCoordination of benefits
A health insurance policy paid on a quarterly basis has a grace period of - ANS31 days
Under a noncancellable health insurance policy, an insurer can - ANScancel the policy for
nonpayment of premium
The conditions, times, and circumstances under which an insured is NOT covered by a health
policy are called? - ANSexclusions
In what situation does a waiver of premium provision keep a health insurance policy in force
without premium payments? - ANSWhen an insured becomes totally disabled
Christine has a health insurance policy that has been in force beyond the incontestable period.
The insurer has discovered that a fraudulent statement was made on the application. What
would the insurer have to pay on a claim, assuming this wasn't a guaranteed renewable policy?
- ANSNothing
Under a health insurance policy, the provision that states the kind of benefits provided and the
circumstances under which they will be paid is called the? - ANSinsuring clause
Which of the following factors is NOT used in underwriting health insurance policies? -
ANSIntelligence
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 Ashley96. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now