Life And Health Insurance License Exam Practice Test

Pays benefits only if it turns out the insured is eligible for benefits from social insurance

Pays a benefit if the insured is injured on the job and qualifies for workers compensation benefits

Provides a payment only when the insured is totally disabled, but not receiving any social insurance benefit plans

Provides for a bonus payment that will match social security disability income benefits, if they are paid

After-hours care

Generic care

Preventative care

Fee for service care

A level death benefit with an increase in premium

A level death benefit with a decrease in premium

A decreasing death benefit with a level premium

An increasing death benefit with a level premium

Select a provider and submit claims to the insurance company

Select a provider at work and claims processor

Pre-select a physician and third-party claims administrator

Pre-select a clinic and submit claims to the insurance company

An irrevocable beneficiary may be changed by the policy owner without the beneficiary's consent

An irrevocable beneficiary has a vested right that neither the policy owner nor his creditors can impair without the beneficiary's consent

A revocable beneficiary can become the policy owner at any time by paying the premiums

An irrevocable beneficiary has the right to name a contingent beneficiary for the policy

A hearing by the insurance commissioner to determine the severity of the the misrepresentation and to determine an appropriate course of action

None, if the policy has been in force for over 12 months

Rescission of the policy

A hearing by a court of law to determine an appropriate course of action an insurer may take

Guaranteed

Insolvent

Solvent

Non-participating

The election is made by the policy owner at the time the application is submitted.

When no settlement option is chosen, the proceeds are automatically paid to the policy owner's state.

The policy owner may change the settlement option after it has been chosen.

The election may be made by the beneficiary if no settlement option is in force at the time of death of the insured.

To provide health insurance benefits to key employees

To give a key employee the ability to purchase the business

To give retirement benefits to key employees

To cover decreased business earnings due to the death of a key employee

Deny the application probably after a hearing

As long as it was not insurance related, the application will be granted

Approve only after a review by a panel of insurance professionals

Deny the application without a hearing

$150,000

$100,000

$0

$50,000

None, due to the fact that the concealment was unintentional

$250 fine to be paid to the injured party

Possible imprisonment to the party who concealed the information

Rescission of the contract

The probability of loss is unknown

The losses are highly predictable

The insured chooses to assume the losses involved

The worst possible loss is not serious

Surrenders the right to change the premiums

Reserves the right to change any of its terms

Reserves the right to change the premiums, but may not change any of its terms

May not renew the policy if the insured ceases to comply with certain conditions such as continued employment

Only when asked

Only when the policy terms require it

Only when relevant

Never

Insurers may offer only broad coverage plans that contain both core benefits and additional benefits

Insurers may freely offer whatever supplemental coverages they prefer to market

Insurers may offer policies that contain only the core benefits

Insurers may create insurance policies for approval by the CA Department of Insurance

Waive premium payments in the event of disability

Access a portion of the death benefit in the event of serious illness

Double the amount of the death benefit in the event of accidental death

Purchase additional insurance regardless of insurability

Convertible term

Level term

Decreasing term

Renewable term

Employees no longer had any legal means of obtaining reimbursement for work injuries

Employees would have to sue their employers to obtain reimbursement for work injuries

Employers would be held responsible for the cost of their employee's work injuries regardless of fault

Employers were no longer responsible for work injuries to employees

RW and Associates who represent BLG Insurance Corporation

RW and Associates underwriting for BLG Insurance Corporation

RW and Associates placing business through BLG Insurance Corporation

RW and Associates using the services of BLG Insurance Corporation

Who joined the group after the policy effective date

Without health coverage after a qualifying event who declined to join the group at the time of eligibility

With a pre-existing condition when they joined the group

Waiver of premium

Accelerated death benefit

Cost of living

Disability Income

Whole life insurance

Universal life insurance

Endowment insurance

Term insurance

An agent's supervisor who takes part of his commission

An employee who handles self-insurance claims

An employee who is responsible for evaluating for relative quality of competing group health and welfare benefits offered to his employer by insurers

An outside organization that processes claims for an employers self-funded plans

Hospice care

Hospital care

Respite care

Intermediate care