Popular courses 'California Life Insurance' at California Life Insurance
California Life Insurance Study guides, Class notes & Summaries
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California Life Insurance Exam | Questions with 100% correct answers | verified
- Exam (elaborations) • 16 pages • 2023
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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 possibility of a loss is known as - a loss exposure 
Which of the following information is not required to be communicated in a Life insurance contract? - 
Personal judgment. 
The direct distribution of insura...
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Life-Only Agent Exam 1 Questions and Answers 100% Pass
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Life-Only Agent Exam 1 Questions and 
Answers 100% Pass 
AN example of a moral hazard in relation to a life insurance application would be: - Answer ️️ 
-Misstating your health history to an insurance company. 
John applies for a variable annuity and does not request that the premiums be immediately 
invested in a stock or bond portfolio. After the annuity is issued, John returns the annuity 
contract to the insurer within the free look period. What will John receive from the insurer? - 
Ans...
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FInal Exam: California Life, Accident, and Health Insurance Questions and Answers 100% Pass
- Exam (elaborations) • 17 pages • 2024
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FInal Exam: California Life, Accident, and Health 
Insurance Questions and Answers 100% Pass 
What distinguishes a deferred annuity from an immediate annuity? - Correct 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 beneficiary? - Correct Answer ️️ -60 payments 
What is a common reason people purchase ...
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CA Life and Health Exam Questions and Answers 100% Pass
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CA Life and Health Exam Questions and 
Answers 100% Pass 
What is insurance? - Correct Answer ️️ -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? - Correct Answer ️️ - 
Pure risk is when you'll lose it all or there will be no change. Speculative risk you can 
either win or lose. 
What is peril? - Correct Answer ️️ -peril is the causes of loss insured aga...
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CALIFORNIA LIFE PRACTICE EXAM A QUESTIONS AND ANSWERS 100% CORRECT
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CALIFORNIA LIFE PRACTICE EXAM A QUESTIONS 
AND ANSWERS 100% CORRECT 
AN ANNUITY THAT IS PURCHASED WITH A LUMP SUM PREMIUM AND WHOSE 
BENEFITS BEGIN AFTER 12 MONTHS IS CALLED A - Correct 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 - Correct Answer ️️ -HUMAN LIFE VALUE APPROACH 
WHEN REPLACING A POLICY THE PRODUCER MUST PRESENT THE APPLICANT 
WITH ...
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Final Exam - California Life and Health Questions and Answers
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Final Exam - California Life and Health 
Questions and Answers 
Employer-provided group term life insurance is exempt from income taxation up to - 
Correct 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? - Correct Answer ️️ -3 months 
Which statement is true regarding policy dividends? - Correct Answer ️️ -A dividend 
option is selected by the insured at the time of poli...
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California Life Accident and Health Exam Practice Questions and Answers 100% Correct
- Exam (elaborations) • 198 pages • 2024
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California Life Accident and Health Exam Practice 
Questions and Answers 100% Correct 
A 
ABC INSURANCE - Correct 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 - Correct Answer ️️ -A(N) ________ INSURER IS AUTHORIZED TO 
WRITE INSURANCE POLICIES IN A PARTICULAR STATE. 
A 
DOMESTIC 
B 
NON-ADMITTED 
C 
FOREIGN 
D 
ADMITTED 
B 
A PERSON WHO NEGOTIATES INSU...
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CA Life Insurance Practice Exam Questions and Answers 100% Pass
- Exam (elaborations) • 30 pages • 2024
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CA Life Insurance Practice Exam 
Questions and Answers 100% Pass 
A key person is typically all of the following, except: - Correct 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: part of the management team, more highly paid, respected by customers, 
creditors, suppliers, and vendors, and have dire...
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California Life Insurance State Exam Simulator Questions and Answers 100% Pass
- Exam (elaborations) • 56 pages • 2024
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California Life Insurance State Exam Simulator 
Questions and Answers 100% Pass 
Exclusion ratio - Correct 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 - Correct Answer ️️ -Which of 
the following is NOT a feature of equity-indexed annuities? 
Offers long t...
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California Life-Only Study Guide with 100% Complete Solutions
- Exam (elaborations) • 34 pages • 2024
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California Life-Only Study Guide with 
100% Complete Solutions 
What does insurance do? - Correct Answer ️️ -transfers the risk of loss from an 
individual/ business entity to an insurance company, which then spreads the costs of 
unexpected losses to many individuals 
What is insurance? - Correct Answer ️️ -the legal agreement/ contract whereby the 2 
parties involved agree to the limits of the indemnification, the circumstances under 
which it will occur and what things of value (consi...
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California Life, Accident, and Health Licensing Exam Questions and Answers 100% Pass
- Exam (elaborations) • 25 pages • 2024
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California Life, Accident, and Health Licensing 
Exam Questions and Answers 100% Pass 
Co-insurance - Correct Answer ️️ -The policy provision which requires the insurer and 
the insured to share in the cost of services rendered 
Exclusion ratio - Correct 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 - Correct Answer ️️ -When a disability income policy provides 
coverage for injuries wh...
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CALIFORNIA LIFE PRACTICE EXAM QUESTIONS AND ANSWERS 100% PASS
- Exam (elaborations) • 9 pages • 2024
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CALIFORNIA LIFE PRACTICE EXAM 
QUESTIONS AND ANSWERS 100% PASS 
THE ANNUITY INCOME AMOUNT IS BASED ON WHOSE LIFE? - Correct Answer ️️ 
-ANNUITANT 
AN INJURED PARTY TO A CONTRACT IS ABLE TO RESCIND THE CONTRACT 
FOR - Correct Answer ️️ -UNINTENTIONAL CONCEALMENT 
A WHOLE LIFE POLICY THAT WILL GENERATE IMMEDIATE CASH VALUE IS - 
Correct Answer ️️ -SINGLE PREMIUM 
WHICH STATEMENT IS TRUE REGARDING LONG-TERM CARE TRAINING IN 
CALIFORNIA? - Correct Answer ️️ -TRAINING IS NOT REQUIRED ...