California Life Insurance Quiz

Any reduction in the quantity, quality, or value of something.

The potential or actual cause of a loss.

A possibility of a loss and uncertainty about wether it will occur.

A condition that might increase the severity of a loss.

Having a financial interest in the thing at risk.

A possibility for loss or gain.

Transfering the risk of loss to another party.

Human carelessness or irresponsibility.

Perils

Hazards

Pure risks

Exposure units.

A domestic insurer

An alien insurer

A foreign insurer

An unauthorized insurer.

Measurable

Predictable

Catastrophic

Uncertain

An assesment insurer.

A stock insurer.

A reciprocal insurer.

A mutual insurer.

Implied authority

Apparent authority

Fiduciary responsibilities

Express authority

Concealment

Adhesion

Consideration

Misrepresantation

Sales presentation

Conditional receipt

Buyers guide

Disclosure authorization form

Inflationary trends in the economy

Future income needs of survivors

An individual's future stream of income

Probate and estate taxes

Between the date of an early retirement and the date an individual first becomes elibible for Social Security retirement benefits

After survivor benefits for the youngest child end and before the surviving spouse becomes eligible for Social Security retirement benefits.

That a disabled worker has to wait before Social Security disability benefits begin.

During which income earned after age 65 is no longer subject to Social Security taxes.

The availability of credit life insurance on an impartial basis

Protection to debtors against credit collection agencies

The requirement that an applicant for insurance be informed that a consumer report may be requested regarding his application

Information concerning any previous applications for insurance by an applicant

Insurable interest must exist at the time of loss

Insurable interest must exist at the time of application.

Insurable interest must exist throughout the duration of the policy.

Insurable interest must exist at the time of the insured's death.

Any life insurance application submitted to the underwriting department must include the signatures of the policyowner, proposed insured, and agent

Any changes made to an application before its submission to the insurer must be initialed by the applicant

The initial premium must be submitted to the insurer with the completed application

Incomplete applications may be delay the underwriting process

A statement guaranteed to be absolutely true

A statement that is true to the best knowledge of the applicant

A statement that is material to the risk involved

A statement pertaining to the substandard nature of the risk to be insured

Medical examination

Application

Agent's report

Statement of good health

Level term

Decreasing term

Increasing term

Convertible term

It offers a combination of investment options and a guaranteed death benefit.

The premiums paid are fixed at a level amount.

This policy combines whole life and decreasing term coverage.

Lower premiums are charged in the early years of the policy.

Term insurance

Whole life insurance

Universal life insurance

Endowments

The debtor

The employer

The lender

The beneficiary

The insured can demand renewal at the end of the original term

Premiums for a renewal policy cannot be increased.

Evidence of insurability cannot be required at renewal

Limits may be placed on the number of permitted renewals.

It becomes a fully paid-up policy prior to maturity.

Death benefits are payable for a limited period of time.

Cash value withdrawals are permitted only for a limited number of years.

Proceeds may be paid only to the policyowner or a primary beneficary, and not to any other individual or party.

Whatever age is elected by the policyowner

At age 75

At age 90

At age 100

Adjustable life insurance

Universal life insurance

Variable life insurance

Modified life insurance

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