CALIFORNIA LIFE AND HEALTH INSURANCE EXAM
2024 EXAM WITH QUESTIONS AND CORRECT
DETAILED ANSWERS ALREADY GRADED A+
What are Nonprofit Service Organization (Insurers)? - CORRECT ANSWER
They are organizations providing prepaid plans for hospital, medical, and surgical
expenses.
What changes on a Term Life insurance policy when an insured exercises the
"Reentry" option? - CORRECT ANSWER Premium
On an HMO, initial care and consultation is performed by... - CORRECT
ANSWER The primary care physician.
Federal securities laws are enforced by? - CORRECT ANSWER The Securities and
Exchange Commission.
Policy delivery refers to the delivery of the? - CORRECT ANSWER Completed
insurance policy to the applicant.
The 'carry-over-deductible' applies to claims occurring within? - CORRECT
ANSWER The last three months of the year.
In general Group Life Insurance is? - CORRECT ANSWER The most
inexpensive type of life insurance, since it is usually sold to employer groups on a
payroll deduction plan, which lowers the cost of administration compared to
individual policies.
Ryder buys an annuity naming Gerry and Cheryl as co-annuitants. The amount of
the monthly payments during the annuity period will be based upon? -
CORRECT ANSWER The joint life span of both Gerry and Cheryl.
,CALIFORNIA LIFE AND HEALTH INSURANCE EXAM
2024 EXAM WITH QUESTIONS AND CORRECT
DETAILED ANSWERS ALREADY GRADED A+
The period of time between the onset of a claim and the start of a disability
income benefits is called the? - CORRECT ANSWER Elimination period (Or
waiting period).
What is Part B-Hospital Insurance for Medicare? - CORRECT ANSWER
Sometimes called Supplementary Medical Insurance (SMI) since it supplements
Part A. Part B (the optional portion) is generally designed to cover physicians'
services.
An insurance company organized in Great Britain doing business in California is
considered to be? - CORRECT ANSWER Alien
On a refund annuity, who is entitled to the refund? - CORRECT ANSWER The
beneficiary.
What is Modified Premium and Graded Premium Whole Life? - CORRECT
ANSWER Since level premium whole life is expensive, many insurers offer
premium discounts during the early years of a policy to make it easier to sell.
What does an annuity provide to a retired person? - CORRECT ANSWER They
provide protection for a retired individual from outliving their savings.
Persons covered by Medicare are called? - CORRECT ANSWER Beneficiaries.
What are Stock Insurers? - CORRECT ANSWER The individual stockholder
provides capital for the insurer. In return, they share in any profits and any losses.
An insurance prospect wants to purchase a policy that will accumulate the largest
amount of cash by the age of 65. Which policy would be most likely to satisfy the
prospect's needs? - CORRECT ANSWER Endowment at age 65.
If the insured/owner of the policy does not pre-designate a settlement option for
the beneficiary prior to death, the beneficiary may? - CORRECT ANSWER The
,CALIFORNIA LIFE AND HEALTH INSURANCE EXAM
2024 EXAM WITH QUESTIONS AND CORRECT
DETAILED ANSWERS ALREADY GRADED A+
beneficiary may select the settlement option upon the death of the insured.
, CALIFORNIA LIFE AND HEALTH INSURANCE EXAM
2024 EXAM WITH QUESTIONS AND CORRECT
DETAILED ANSWERS ALREADY GRADED A+
When only one deductible applies to all family members it is referred to as a? -
CORRECT ANSWER Family deductible.
With regard to the ethical behavior of a Life agent, which of the following makes
it easier for agents to conduct themselves in an ethical manner? - CORRECT
ANSWER Always putting the best interests of clients and policyholders first.
What is Limited Payment and Single Premium (Whole Life)? - CORRECT
ANSWER These policies are exactly like Ordinary or Stright Life policies,
except, the premium is paid over a shorter period of time.
What is an Endowment Policy? - CORRECT ANSWER An endowment policy is
exactly the same as a Whole Life policy, except maturity occurs at a
predetermined time selected by the insured.
Under the Legal Actions Provision, the insured cannot sue for non-payment of a valid
claim until after 60 days in order to? - CORRECT ANSWER Give the insurer time to
investigate the claim.
What are the three types of ordinary life insurance? - CORRECT ANSWER W-E-
T, Whole Life, Endowments, and Term.
Medicare Part B-Medical Insurance pays a percentage of? - CORRECT
ANSWER The Medicare approved amount?
What are fraternal insurers? - CORRECT ANSWER Fraternal benefit societies are
primarily life insurance carriers that exist as social organization and usually engage
in charitable and benevolent activities. Fraternal insurers are distinguished by the
fact that their membership is usually drawn from those who are also members of a
lodge or fraternal organization.
To restore you financially after a claim is known as the? - CORRECT ANSWER
The principal of indemnity.
2024 EXAM WITH QUESTIONS AND CORRECT
DETAILED ANSWERS ALREADY GRADED A+
What are Nonprofit Service Organization (Insurers)? - CORRECT ANSWER
They are organizations providing prepaid plans for hospital, medical, and surgical
expenses.
What changes on a Term Life insurance policy when an insured exercises the
"Reentry" option? - CORRECT ANSWER Premium
On an HMO, initial care and consultation is performed by... - CORRECT
ANSWER The primary care physician.
Federal securities laws are enforced by? - CORRECT ANSWER The Securities and
Exchange Commission.
Policy delivery refers to the delivery of the? - CORRECT ANSWER Completed
insurance policy to the applicant.
The 'carry-over-deductible' applies to claims occurring within? - CORRECT
ANSWER The last three months of the year.
In general Group Life Insurance is? - CORRECT ANSWER The most
inexpensive type of life insurance, since it is usually sold to employer groups on a
payroll deduction plan, which lowers the cost of administration compared to
individual policies.
Ryder buys an annuity naming Gerry and Cheryl as co-annuitants. The amount of
the monthly payments during the annuity period will be based upon? -
CORRECT ANSWER The joint life span of both Gerry and Cheryl.
,CALIFORNIA LIFE AND HEALTH INSURANCE EXAM
2024 EXAM WITH QUESTIONS AND CORRECT
DETAILED ANSWERS ALREADY GRADED A+
The period of time between the onset of a claim and the start of a disability
income benefits is called the? - CORRECT ANSWER Elimination period (Or
waiting period).
What is Part B-Hospital Insurance for Medicare? - CORRECT ANSWER
Sometimes called Supplementary Medical Insurance (SMI) since it supplements
Part A. Part B (the optional portion) is generally designed to cover physicians'
services.
An insurance company organized in Great Britain doing business in California is
considered to be? - CORRECT ANSWER Alien
On a refund annuity, who is entitled to the refund? - CORRECT ANSWER The
beneficiary.
What is Modified Premium and Graded Premium Whole Life? - CORRECT
ANSWER Since level premium whole life is expensive, many insurers offer
premium discounts during the early years of a policy to make it easier to sell.
What does an annuity provide to a retired person? - CORRECT ANSWER They
provide protection for a retired individual from outliving their savings.
Persons covered by Medicare are called? - CORRECT ANSWER Beneficiaries.
What are Stock Insurers? - CORRECT ANSWER The individual stockholder
provides capital for the insurer. In return, they share in any profits and any losses.
An insurance prospect wants to purchase a policy that will accumulate the largest
amount of cash by the age of 65. Which policy would be most likely to satisfy the
prospect's needs? - CORRECT ANSWER Endowment at age 65.
If the insured/owner of the policy does not pre-designate a settlement option for
the beneficiary prior to death, the beneficiary may? - CORRECT ANSWER The
,CALIFORNIA LIFE AND HEALTH INSURANCE EXAM
2024 EXAM WITH QUESTIONS AND CORRECT
DETAILED ANSWERS ALREADY GRADED A+
beneficiary may select the settlement option upon the death of the insured.
, CALIFORNIA LIFE AND HEALTH INSURANCE EXAM
2024 EXAM WITH QUESTIONS AND CORRECT
DETAILED ANSWERS ALREADY GRADED A+
When only one deductible applies to all family members it is referred to as a? -
CORRECT ANSWER Family deductible.
With regard to the ethical behavior of a Life agent, which of the following makes
it easier for agents to conduct themselves in an ethical manner? - CORRECT
ANSWER Always putting the best interests of clients and policyholders first.
What is Limited Payment and Single Premium (Whole Life)? - CORRECT
ANSWER These policies are exactly like Ordinary or Stright Life policies,
except, the premium is paid over a shorter period of time.
What is an Endowment Policy? - CORRECT ANSWER An endowment policy is
exactly the same as a Whole Life policy, except maturity occurs at a
predetermined time selected by the insured.
Under the Legal Actions Provision, the insured cannot sue for non-payment of a valid
claim until after 60 days in order to? - CORRECT ANSWER Give the insurer time to
investigate the claim.
What are the three types of ordinary life insurance? - CORRECT ANSWER W-E-
T, Whole Life, Endowments, and Term.
Medicare Part B-Medical Insurance pays a percentage of? - CORRECT
ANSWER The Medicare approved amount?
What are fraternal insurers? - CORRECT ANSWER Fraternal benefit societies are
primarily life insurance carriers that exist as social organization and usually engage
in charitable and benevolent activities. Fraternal insurers are distinguished by the
fact that their membership is usually drawn from those who are also members of a
lodge or fraternal organization.
To restore you financially after a claim is known as the? - CORRECT ANSWER
The principal of indemnity.
