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CA Life Insurance Exam 2026 |
Comprehensive Q&A For Certification
Success
Who are the members of the Medical Information Bureau? - correct-answer -Life
and Health insurers.
If you have been convicted of a misdemeanor and that misdemeanor conviction is
later expunged pursuant to California Penal Code Section 1203.4, which of the
following is true? - correct-answer -Even though your misdemeanor conviction
was expunged, you must still disclose your misdemeanor conviction on your
individual application for an insurance license.
The direct response distribution of Insurance utilizes all of the following to
promote the sales of insurance EXCEPT - correct-answer -telephone call from the
agent.
The increase in the probability of a loss resulting from an insured's dishonest
tendencies is known as - correct-answer -moral hazard.
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Which is an agreement in which an insurer contacts with a third party to insure
itself against losses from insurance policies it issues? - correct-answer -
Reinsurance
Which if the following would an agent be guilty of for misrepresenting the amount
of dividends a policy will pay? - correct-answer -A misdemeanor.
What rule is used to determine the importance of a representation? - correct-
answer -The materiality of concealment.
Which of the following is a hazard? - correct-answer -A condition that may
increase the likelihood of a loss occurring.
When are parties to a contract REQUIRED to communicate information solely
based on personal judgment for a matter in question? - correct-answer -Never
According to the California Insurance Code, if an insurer's certificate of authority is
revoked, the Commissioner can proceed with any of the following actions EXCEPT
- correct-answer -using Guarantee Funds to pay salaries.
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Section 1729.2 of the California Insurance Code requires insurance producer
applications and licensees to notify the Insurance Commissioner in writing, within
___days of charges in background information after an application has been
submitted or a license has been issued. - correct-answer -30
The insurer's department with PRIMARY responsibility for the risk selection
process is called: - correct-answer -underwriting
A person owns a life annuity. He elects to receive his annuity payments monthly
for the remainder of his life with "ten years certain". The annuity will make
payments - correct-answer -for a minimum of 120 months and a maximum of the
remainder of his life.
All of the following information is gathered during the personal financial planning
process EXCEPT - correct-answer -a listing of a person's civic and professional
organization memberships.
Which policy provision allows an insured to continue coverage under a previously
lapsed policy? - correct-answer -The reinstatement provision
CA Life Insurance Exam 2026 |
Comprehensive Q&A For Certification
Success
Who are the members of the Medical Information Bureau? - correct-answer -Life
and Health insurers.
If you have been convicted of a misdemeanor and that misdemeanor conviction is
later expunged pursuant to California Penal Code Section 1203.4, which of the
following is true? - correct-answer -Even though your misdemeanor conviction
was expunged, you must still disclose your misdemeanor conviction on your
individual application for an insurance license.
The direct response distribution of Insurance utilizes all of the following to
promote the sales of insurance EXCEPT - correct-answer -telephone call from the
agent.
The increase in the probability of a loss resulting from an insured's dishonest
tendencies is known as - correct-answer -moral hazard.
,2|Page
Which is an agreement in which an insurer contacts with a third party to insure
itself against losses from insurance policies it issues? - correct-answer -
Reinsurance
Which if the following would an agent be guilty of for misrepresenting the amount
of dividends a policy will pay? - correct-answer -A misdemeanor.
What rule is used to determine the importance of a representation? - correct-
answer -The materiality of concealment.
Which of the following is a hazard? - correct-answer -A condition that may
increase the likelihood of a loss occurring.
When are parties to a contract REQUIRED to communicate information solely
based on personal judgment for a matter in question? - correct-answer -Never
According to the California Insurance Code, if an insurer's certificate of authority is
revoked, the Commissioner can proceed with any of the following actions EXCEPT
- correct-answer -using Guarantee Funds to pay salaries.
, 3|Page
Section 1729.2 of the California Insurance Code requires insurance producer
applications and licensees to notify the Insurance Commissioner in writing, within
___days of charges in background information after an application has been
submitted or a license has been issued. - correct-answer -30
The insurer's department with PRIMARY responsibility for the risk selection
process is called: - correct-answer -underwriting
A person owns a life annuity. He elects to receive his annuity payments monthly
for the remainder of his life with "ten years certain". The annuity will make
payments - correct-answer -for a minimum of 120 months and a maximum of the
remainder of his life.
All of the following information is gathered during the personal financial planning
process EXCEPT - correct-answer -a listing of a person's civic and professional
organization memberships.
Which policy provision allows an insured to continue coverage under a previously
lapsed policy? - correct-answer -The reinstatement provision
