Life & Health - Practice Exam 4
The entire premium
The value of the policy on the day it was cancelled
The premium less the surrender charge
The value of thepolicy on the day the policy was delivered
Replacement
Reinsurance
Reinstatement
Assignment
Marine
Auto
Fire
Life
Termination of an association
Termination of a key employee
Dissolution of a corporation
Dissolution of a co-partnership
The agent can still transact insurance business in CA, but not in any other states until the license is reactivated
The agent can transact any insurance business with another agent's approval
The agent can transact any insurance business for which the agent is licensed
The agent cannot transact any insurance business for which a license is required.
1 year in jail
$1,000 fine
1 year in jail and/or $1,000 fine
Each state handles discipline in its own way
An occupational policy
A non-occupational policy
A wraparound policy
Twenty-four-hour policy
Provide a list of the potential complaints lodged against the broker or agent through past customers
Provide records of interest payments to the broker agent with respect to interest paid by the insurer
Maintain a list of accounts in connection with compensation exempted in premium financing payments for three years
Provide a list of current accounts for any client who wishes to see the records
Liability loss exposure
Financial loss exposure
Human and personnel loss exposure
Property loss exposure
When the plans both have the provision, coverage as an employee is primary to coverage paid to dependents
Coverage under COBRA is primary to other coverage paid to the employee
Medicare coverage is always primary to "medical coverage"
Coverage under any plan with the provision is primary to coverage under any plan without the provision
Pain relief
Symptom management
Counseling
Rehabilitation
Tony Brown CLU and Company
Brownies Insurance Services
Brown Insurance
None of these would be automatically approved
$0
$800
$2,000
$4,000
Possible abuses of rating laws
Possible arson
Possible fraudulent claims from insureds
Possible fraud by insurers
Eating and dressing
Speaking and Incontinence
Sleeping and walking
Bathing and hearing
Request his certificate of authority
Authorize agent with a certificate of convenience
Suspend or revoke the license of the agent
Fine the insurance company
Variable annuity
Fixed premium annuity
Tax sheltered annuity
Single payment annuity
Risk
Morbidity
Mortality
Hazard
Class beneficiaries, equal shares
Per capita
Per stirpes
Per diem
Medicare
Workers Compensation
Medicaid
Social security
All licensees are required to pass a LTC knowledge exam every 10 years
For licenses issued after January 1, 1992, 8 hours of training for the first four 12-month periods from date of license issuance, then 8 hours prior to each renewal
Non-resident licensees file with the Insurance Commissioner and have Commissioner approve education requirement
8 hours prior to renewal for licenses issued prior to January 1, 1992
Insurable interest standard
Contract law
The law of large numbers
Materiality
A broker paid fees for service
A person licensed to assist an agent in soliciting life insurance
A person licensed to advise clients about life and disability insurance for a fee
Any agent
It always terminates
It may be transferred to another person
The license becomes inactive until the expiration date
The license must be returned to the Commisioner to cancel the license
Rapidity
Security
Risk
Frequency
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