California PSI - Life Insurance EXAM Questions & Answers,
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Final Exam - California Life and Heal... CA Life Insurance Exam LIFE INSURANCE PRACTICE EXAM Ge
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Terms in this set (98)
When is a representation false? when the facts fail to correspond with its assertions or stipulations
Which of the following is TRUE regarding the use of The actual and fictitious business names must be registered with the
fictitious names for business? commissioner
Which is an ACCURATE statement regarding dependent The coverage must not exceed more than 100 percent of the coverage for the
coverage under a group insurance policy? insured employee
According to CIC Section 1711, an organization ceases upon the termination of all contracts
to exist as an entity eligible to hold a license EXCEPT
As long as employment continues, which is the ONLY Non-payment of premiums after the policy has bee in force for two years.
reason the validity of a group life insurance policy can
be contested?
All of the following are TRUE about the rules regarding The agent, broker, or insurer is required to show a copy of their insurance
the sale of life insurance and annuities to seniors age 65 license with name, address, and phone number when conducting business in
or older EXCEPT the senior home
What is a solicitor employed to do for a policy other To aid a property and casualty agent or broker in transacting insurance
than life?
All of the following are examples of representation It may be altered after the insurance is effected
except
Except as provided by sections 10203.5 and 10203.8 in An individual certification of insurance
the CIC, the insurer shall provide which document to be
delivered by the employer to the employee?
, What is the purpose of creating minimum underwriting To avoid discrimination between individuals in the same rating class who have
standards for those testing positive for Acquired been diagnosed with the conditions of AIDS, ARC or HIV
Immune Deficiency Syndrome, Human
Immunodeficiency Virus or Aids Related Complex?
Which of the following is TRUE regarding continuing Any licensee shall satisfactorily complete 24 hours of instruction prior to
eduction requirements of an agent or broker? license renewal.
Which of the following provisions of free insurance It requires a separate charge or fee.
offered as incentive to purchase or rent property is
TRUE?
Which is the maximum fine for a person who transacts $50,000 and/or imprisonment for a period not exceeding one year.
insurance without a valid license?
Which of the following is TRUE regarding non-admitted Acting as an agent for a nonadmitted insurer is considered a misdemeanor.
insurers?
A policy shall specify all of the following EXCEPT The method in which the coverage amount was calculated
How long does an employee in a group insurance 31 days to use the conversion privilege and begin an individual life insurance
policy have to exercise the conversion privilege after policy
employment is terminated?
Which group of people is offered additional protection Survivors of the Holocaust
by the Unfair Practices Act that regulates trade
practices in the business of insurance?
Which of the following is TRUE regarding The printer material must accurately show the relationship between the agent
advertisements or printed matter used by an agent or or broker and the agency.
broker?
Which circumstances in a pretext interview determine if When a insured is consulted by a person who hides his true identity on purpose
the questions are permissible? when fraud for a claim is suspected.
An "insurance agent" means a person authorized, by Annuities
and on behalf of an insurer, to transact which of the
following class of insurance?
Which form of negotiation is covered under the Negotiations preliminary to execution
definition of "transact" as applied to insurance?
All of the following are to be specified in an insurance The financial rating of the insured.
policy EXCEPT
How can a licensee surrender any license for By submitted written notice or by delivering the license to the commissioner
cancellation?
How is an insurance policy defined? The written instrument, in which a contract of insurance is set forth
When may a surplus line broker solicit and place If the same insurance coverage cannot be produced from an admitted insurer.
insurance for a home state insured with a nonadmitted
insurer?
Well Elaborated | Already Verified Test |100% Verified
solutions |2026 Latest!!
Leave the first rating
Save
Students also studied
Flashcard sets Study guides
Final Exam - California Life and Heal... CA Life Insurance Exam LIFE INSURANCE PRACTICE EXAM Ge
Teacher 148 terms Teacher 164 terms 49 terms 82
Tori_Bee3 Preview Jpiring8 Preview goldaoswald Preview
Terms in this set (98)
When is a representation false? when the facts fail to correspond with its assertions or stipulations
Which of the following is TRUE regarding the use of The actual and fictitious business names must be registered with the
fictitious names for business? commissioner
Which is an ACCURATE statement regarding dependent The coverage must not exceed more than 100 percent of the coverage for the
coverage under a group insurance policy? insured employee
According to CIC Section 1711, an organization ceases upon the termination of all contracts
to exist as an entity eligible to hold a license EXCEPT
As long as employment continues, which is the ONLY Non-payment of premiums after the policy has bee in force for two years.
reason the validity of a group life insurance policy can
be contested?
All of the following are TRUE about the rules regarding The agent, broker, or insurer is required to show a copy of their insurance
the sale of life insurance and annuities to seniors age 65 license with name, address, and phone number when conducting business in
or older EXCEPT the senior home
What is a solicitor employed to do for a policy other To aid a property and casualty agent or broker in transacting insurance
than life?
All of the following are examples of representation It may be altered after the insurance is effected
except
Except as provided by sections 10203.5 and 10203.8 in An individual certification of insurance
the CIC, the insurer shall provide which document to be
delivered by the employer to the employee?
, What is the purpose of creating minimum underwriting To avoid discrimination between individuals in the same rating class who have
standards for those testing positive for Acquired been diagnosed with the conditions of AIDS, ARC or HIV
Immune Deficiency Syndrome, Human
Immunodeficiency Virus or Aids Related Complex?
Which of the following is TRUE regarding continuing Any licensee shall satisfactorily complete 24 hours of instruction prior to
eduction requirements of an agent or broker? license renewal.
Which of the following provisions of free insurance It requires a separate charge or fee.
offered as incentive to purchase or rent property is
TRUE?
Which is the maximum fine for a person who transacts $50,000 and/or imprisonment for a period not exceeding one year.
insurance without a valid license?
Which of the following is TRUE regarding non-admitted Acting as an agent for a nonadmitted insurer is considered a misdemeanor.
insurers?
A policy shall specify all of the following EXCEPT The method in which the coverage amount was calculated
How long does an employee in a group insurance 31 days to use the conversion privilege and begin an individual life insurance
policy have to exercise the conversion privilege after policy
employment is terminated?
Which group of people is offered additional protection Survivors of the Holocaust
by the Unfair Practices Act that regulates trade
practices in the business of insurance?
Which of the following is TRUE regarding The printer material must accurately show the relationship between the agent
advertisements or printed matter used by an agent or or broker and the agency.
broker?
Which circumstances in a pretext interview determine if When a insured is consulted by a person who hides his true identity on purpose
the questions are permissible? when fraud for a claim is suspected.
An "insurance agent" means a person authorized, by Annuities
and on behalf of an insurer, to transact which of the
following class of insurance?
Which form of negotiation is covered under the Negotiations preliminary to execution
definition of "transact" as applied to insurance?
All of the following are to be specified in an insurance The financial rating of the insured.
policy EXCEPT
How can a licensee surrender any license for By submitted written notice or by delivering the license to the commissioner
cancellation?
How is an insurance policy defined? The written instrument, in which a contract of insurance is set forth
When may a surplus line broker solicit and place If the same insurance coverage cannot be produced from an admitted insurer.
insurance for a home state insured with a nonadmitted
insurer?
