INSURANCE EXAM: CA LIFE INSURANCE EXAM QUESTIONS AND ANSWERS 2025
Insurable Receipt - (ANSWER)The reciept given to a life insurance applicant when the application is
completed and the initial premium is received is called a(n)
Representations - (ANSWER)Statements in the application for insurance that are believed to be true to
the best of the applicants knowledge are
Provide the annuitant with an interest rate that is lesser of the guaranteed or current rate -
(ANSWER)An annuity is considered fixed when it does all of the following EXCEPT
Continuous Premium (straight) life - (ANSWER)The most common type of whole life insurance where
premiums are payable over the whole life of the insured to age 100 is called.
Entire contract - (ANSWER)The policy and a copy of the application, along with any riders and
amendments, is called the
Not taxable - (ANSWER)Money borrowed from the policy's cash value is
All annuities (Variable, Deferreed & Equity Indexed) - (ANSWER)Which of the following annuity products
requires an agent to hold a securities license?
Life income annuity - (ANSWER)Which type of annuity settlement stops when the annuitant dies?
59 1/2 - (ANSWER)At what age can a participant receive distributions from a qualified plan without
incurring a 10% penalty
Buy-Sell Agreement - (ANSWER)Two business partners own life insurance on each other. If one partner
dies, which of the following contracts will allow the surviving partner to use the death benefit to
purchase the deceased's business interests?
Adjustable life - (ANSWER)Which type of policy allows the insured to change the amount of the dwah
benefit, the amount of premium, or the type of coverage S their needs change?
, INSURANCE EXAM: CA LIFE INSURANCE EXAM QUESTIONS AND ANSWERS 2025
Either the cash value or the premiums paid, whichever is greater - (ANSWER)If an annuitant dies during
the accumulation period, what will the beneficiary receive?
Nonadmitted - (ANSWER)Any insurer who is NOT approved to do business in this state is considered
Insurable Interest Exists - (ANSWER)To prevent people from profiting from a loss, insurers is the certain
Adjusts the death benefit based on the premiums that were paid - (ANSWER)If a misstatement of age is
discovered during the processing of a life insurance claim what will the insurer do?
Policy Exclusions - (ANSWER)Which of the following allows an insurance company to deny coverage of
the insurers eewth occurs in war?
Evidence of insurability is usually required - (ANSWER)Each of the following is a typical characteristic of
groups life insurance EXCEPT
Fixed-Period Installments - (ANSWER)A life settlement option that pays out the death benefit is.
Incrementally, in a specified amount until all of the proceeds are exhausted, is called
Not subject to any taxes - (ANSWER)A life insurance death benefit paid in a lump sum to a beneficiary is
Accumulation at Interest - (ANSWER)Which of the following is NOT a nonforfeiture option in whole life
policies?
Annuitant - (ANSWER)Which of the following indicates the person upon whose life the annuity income
amount is determined?
Single premium immediate annuity - (ANSWER)An annuity that is purchased with a lump-sum payment,
and that begins income payments within one year is a
Insurable Receipt - (ANSWER)The reciept given to a life insurance applicant when the application is
completed and the initial premium is received is called a(n)
Representations - (ANSWER)Statements in the application for insurance that are believed to be true to
the best of the applicants knowledge are
Provide the annuitant with an interest rate that is lesser of the guaranteed or current rate -
(ANSWER)An annuity is considered fixed when it does all of the following EXCEPT
Continuous Premium (straight) life - (ANSWER)The most common type of whole life insurance where
premiums are payable over the whole life of the insured to age 100 is called.
Entire contract - (ANSWER)The policy and a copy of the application, along with any riders and
amendments, is called the
Not taxable - (ANSWER)Money borrowed from the policy's cash value is
All annuities (Variable, Deferreed & Equity Indexed) - (ANSWER)Which of the following annuity products
requires an agent to hold a securities license?
Life income annuity - (ANSWER)Which type of annuity settlement stops when the annuitant dies?
59 1/2 - (ANSWER)At what age can a participant receive distributions from a qualified plan without
incurring a 10% penalty
Buy-Sell Agreement - (ANSWER)Two business partners own life insurance on each other. If one partner
dies, which of the following contracts will allow the surviving partner to use the death benefit to
purchase the deceased's business interests?
Adjustable life - (ANSWER)Which type of policy allows the insured to change the amount of the dwah
benefit, the amount of premium, or the type of coverage S their needs change?
, INSURANCE EXAM: CA LIFE INSURANCE EXAM QUESTIONS AND ANSWERS 2025
Either the cash value or the premiums paid, whichever is greater - (ANSWER)If an annuitant dies during
the accumulation period, what will the beneficiary receive?
Nonadmitted - (ANSWER)Any insurer who is NOT approved to do business in this state is considered
Insurable Interest Exists - (ANSWER)To prevent people from profiting from a loss, insurers is the certain
Adjusts the death benefit based on the premiums that were paid - (ANSWER)If a misstatement of age is
discovered during the processing of a life insurance claim what will the insurer do?
Policy Exclusions - (ANSWER)Which of the following allows an insurance company to deny coverage of
the insurers eewth occurs in war?
Evidence of insurability is usually required - (ANSWER)Each of the following is a typical characteristic of
groups life insurance EXCEPT
Fixed-Period Installments - (ANSWER)A life settlement option that pays out the death benefit is.
Incrementally, in a specified amount until all of the proceeds are exhausted, is called
Not subject to any taxes - (ANSWER)A life insurance death benefit paid in a lump sum to a beneficiary is
Accumulation at Interest - (ANSWER)Which of the following is NOT a nonforfeiture option in whole life
policies?
Annuitant - (ANSWER)Which of the following indicates the person upon whose life the annuity income
amount is determined?
Single premium immediate annuity - (ANSWER)An annuity that is purchased with a lump-sum payment,
and that begins income payments within one year is a
