California Life Insurance Practice Exam

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California Life Insurance Practice Exam - Quiz

Practice examination for Life Insurance Licensing in California. Combines exams A, B, and C with 125 questions.


Questions and Answers
  • 1. 

    In disability insurance, the period of time between when the disability started and the commencement of benefits is the:

    • A.

      Cancellation Period

    • B.

      Elimination Period

    • C.

      Probationary Period

    • D.

      Grace Period

    Correct Answer
    B. Elimination Period
    Explanation
    LTC and disability income policies don't begin to pay out benefits until a certain number of days of illness have elapsed.

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  • 2. 

    Which of the following characteristics would not stop an insurance company from accepting an insurance risk? The item to be insured:

    • A.

      Faces high catastrophic loss exposure

    • B.

      Is part of a large group of homogeneous exposure units

    • C.

      Has a market value difficult to determine

    • D.

      Holds no hardship to the owner should it be lost or damaged

    Correct Answer
    B. Is part of a large group of homogeneous exposure units
    Explanation
    Insurance companies prefer insured's that are part of a large group with similar risks so they can understand the scope of the risk, and charge the appropriate premium.

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  • 3. 

    All of the following statements about mutual insurance companies are correct, except:

    • A.

      If a mutual company goes public, it demutualizes

    • B.

      Mutual companies issue policies referred to as participating

    • C.

      Policy dividends issued by mutual companies are guaranteed and not taxable

    • D.

      Dividends allow policyholders to share in a mutual companies divisible surplus

    Correct Answer
    C. Policy dividends issued by mutual companies are guaranteed and not taxable
    Explanation
    Insurance policy dividends are not guaranteed and are not taxable.

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  • 4. 

    In a seven year vesting schedule, what percentage of employer contributions is vested after seven years?

    • A.

      0%

    • B.

      60%

    • C.

      80%

    • D.

      100%

    Correct Answer
    D. 100%
    Explanation
    If employment terminates, the employee own 100% of the employer's contributions after 7 years. They earn 20% each year for years 3 through 7. Employee contributions are immediately vested.

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  • 5. 

    Which is a false statement? The California Insurance Commissioner is:

    • A.

      Elected by the people of California every four years

    • B.

      Selected by the Governor as an appointee

    • C.

      Is a representative to the National Association of Insurance Commissioners (NAIC)

    • D.

      Capable of becoming the conservator of a financially impaired, or insolvent, insurer

    Correct Answer
    B. Selected by the Governor as an appointee
    Explanation
    The commissioner is no longer appointed by the governor. He/she has various duties and authorities.

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  • 6. 

    Which statement about life insurance code and ethics is not true?

    • A.

      Marketing plans to offer free insurance as an inducement to buy or rent real property are prohibited

    • B.

      Acts of fair and unfair discrimination are prohibited

    • C.

      Agents are not permitted to advertise that an insurer is a member of any insurance guaranty association

    • D.

      The act of twisting could result in a license suspension for up to three years

    Correct Answer
    B. Acts of fair and unfair discrimination are prohibited
    Explanation
    Acts of fair discrimination such as charging older clients a higher premium are legal.

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  • 7. 

    Which of the following statements about a resident life-only agent licensing is incorrect?

    • A.

      A licensee has 30 days to update a change in address

    • B.

      Licensees are required to have an in-state residential address

    • C.

      Loss of a precious professional license could result in the automatic denial of the life-only license application

    • D.

      A plea of nolo contendere is considered a conviction, thus it could hinder attempts to obtain a life-only license

    Correct Answer
    A. A licensee has 30 days to update a change in address
    Explanation
    Changes of address must be filed immediately.

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  • 8. 

    Tommy Greene has a CLU certification. Which of th following names would automatically approve for use as his agency's name?

    • A.

      Tommy Greene and Associates

    • B.

      Thomas Greene, CLU, & Company

    • C.

      Greene Insurance Agency

    • D.

      None of the would ever be automatically approved

    Correct Answer
    D. None of the would ever be automatically approved
    Explanation
    No name is ever automatically approved for licensee use. There are always procedures and background checks to administer.

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  • 9. 

    An agent follows the rules and terms of his agent contract. He is excersising his _______ authority.

    • A.

      Implied

    • B.

      Express

    • C.

      Apparent

    • D.

      Contractual

    Correct Answer
    B. Express
    Explanation
    Express authority is legitimate authority written into a contract.

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  • 10. 

    Any person who misappropriates fiuciary funds for personal use is guilty of:

    • A.

      Fraud

    • B.

      Theft

    • C.

      Misreperesentation

    • D.

      Pre-texting

    Correct Answer
    B. Theft
    Explanation
    A 'person' with fiduciary responsibilities is an agent. If and agent steals their clients' money, the agent is guilty of theft.

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  • 11. 

    According to the code, any person legally capable of making an insurance policy is considered:

    • A.

      An agent

    • B.

      A broker

    • C.

      An insurer

    • D.

      An underwriter

    Correct Answer
    C. An insurer
    Explanation
    Legally, a corporation is a "person". The insurer makes/produces the insurance policies the agents and brokers sell.

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  • 12. 

    Mrs. Anderson need to invest the proceeds from her late husband's life insurance. She invests a portion of the money into an annuity. Since she is 62, and is still working, she decides to purchase a single premium deferred annuity. She won' t need an income for a few more years. What should the agent make sure Mrs. Anderson understands?

    • A.

      As a life insurance product, future proceeds are tax free.

    • B.

      She has a 30 day free look period in case she changes her mind.

    • C.

      Since she only has a few more years before she retires, she should invest with the objective tho make as much money as possible. Her time horizon is limited.

    • D.

      She will have to begin taking withdrawals within six months of receiving the proceeds.

    Correct Answer
    B. She has a 30 day free look period in case she changes her mind.
    Explanation
    As someone who is 60+, she gets the 30-day free-look period, and should invest cautiously.

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  • 13. 

    In a non-contributory group policy:

    • A.

      75% of eligible employees must elect to join the plan.

    • B.

      100% of eligible employees must participate.

    • C.

      75% of employees must elect to join the plan.

    • D.

      100% of employees must be allowed to participate.

    Correct Answer
    B. 100% of eligible employees must participate.
    Explanation
    In a non-contributory plan, the employer pays all of the premium, so they must cover all eligible employees.

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  • 14. 

    An employee has lost access to their group term life insurance plan, but they are allowed to convert to a new plan. Which best describes this new plan?

    • A.

      The new policy will be term life. The employee pays all premiums.

    • B.

      The new policy will be term life. The employer will pay a portion of the cost.

    • C.

      The new policy will be cash value. The employer will pay a portion of the cost.

    • D.

      The new policy will be cash value. The employee pays all the premiums.

    Correct Answer
    D. The new policy will be cash value. The employee pays all the premiums.
    Explanation
    Conversion from group to individual can be any insurance except term. The insured who lost their coverage is now paying the entire premium.

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  • 15. 

    Bob and Neal are partners in a law firm together. If one of them were to pass away, the want to make sure that their surviving family will receive a fair value for their stake in the business. What life insurance arrangement would be most suited for transitioning the business during this time of loss?

    • A.

      Split Dollar Plan

    • B.

      Executive Bonus Plan

    • C.

      Buy-Sell Agreement

    • D.

      Deferred Compensation Plans

    Correct Answer
    C. Buy-Sell Agreement
    Explanation
    Buy-sell agreements allow surviving partners to buy out the family of the deceased partner so the business may continue past the death of the insured.

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  • 16. 

    Rank from lowest to highest, the amount of monthly income that would result from the following annuity settlement options:

    • A.

      Life with refund option, life with 10 years certain, straight life

    • B.

      Straight life, life with ten years certain, life refund option

    • C.

      Life with ten year certain, life with refund option, straight life

    • D.

      Life with refund option, straight life, life with 10 years certain

    Correct Answer
    A. Life with refund option, life with 10 years certain, straight life
    Explanation
    The larger the guarantee of payments, or returned monies, the lower the guaranteed income,. The more risk the annuitant takes during the annuity period, the higher the monthly income.

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  • 17. 

    All of the following are dividend options, except:

    • A.

      Interest only option

    • B.

      One-year term option

    • C.

      Reduce the nest premium payment

    • D.

      Accumulate with interest

    Correct Answer
    A. Interest only option
    Explanation
    "Interest only" is a settlement option, not a dividend option.

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  • 18. 

    Which best describes industrial insurance?

    • A.

      $2,000 or less in coverage and premiums collected by agent.

    • B.

      $10,000 coverage and premiums paid by mail.

    • C.

      $50,000 coverage and premiums paid by mail.

    • D.

      $100,000 coverage and premiums collected by agent.

    Correct Answer
    A. $2,000 or less in coverage and premiums collected by agent.
    Explanation
    By law, industrial insurance must be paid in person. Since it involves high risk insureds, very low amounts are purchased.

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  • 19. 

    A client's flexible premium is invested into a seperate account. What type of insurance product did he purchase?

    • A.

      Universal Life

    • B.

      An Annuity

    • C.

      Variable Life

    • D.

      Variable Universal Life

    Correct Answer
    D. Variable Universal Life
    Explanation
    Any universal policy is characterized by a flexible premium. Any variable product is characterized by the use of separate accounts.

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  • 20. 

    Which rider pays a multiple of the original face amount?

    • A.

      Accelerated Death Benefit

    • B.

      Accidental Death Benefit

    • C.

      Accidental Death and Dismemberment

    • D.

      Cost of Living

    Correct Answer
    B. Accidental Death Benefit
    Explanation
    Also known as "double indemnity," accident riders pay a larger death benefit if the death is due to accidental means.

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  • 21. 

    A life-only agent issues a binding receipt to his client since the client did include a check for the initial premium with his completed application. Which is true?

    • A.

      The client is covered during underwriting.

    • B.

      The agent faces potential suspension or revocation of their license.

    • C.

      The client is not covered during underwriting since binders only start once underwriting is complete.

    • D.

      Since the medical exam hasn't been completed yet, the client is not covered at all.

    Correct Answer
    B. The agent faces potential suspension or revocation of their license.
    Explanation
    Binding receipt gives immediate coverage in the field of property insurance. Issuing a binding receipt to a life client could result in license suspension for jeopardizing and misleading the client. Life only agents do not have authority to issue binding receipts.

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  • 22. 

    Which of the following would not be considered a speculative risk?

    • A.

      Every week your client plays $20 on the lotto.

    • B.

      Any action that could do harm to your clients well-being such as reckless driving.

    • C.

      Your client invest 5% of his salary into the defined benefit plan at his work.

    • D.

      All of the above situations involve some risk.

    Correct Answer
    B. Any action that could do harm to your clients well-being such as reckless driving.
    Explanation
    Any situation that could result in harm, but no chance for financial gain, is a pure risk, not a speculative risk.

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  • 23. 

    According to the California Insurance Code, what information is the agent required to include on their business card?

    • A.

      Identification of their relationship to the insurance company.

    • B.

      License number must appear in the same size font as the phone number.

    • C.

      Must not include any title, designations, or licenses that are not currently held.

    • D.

      All of the above.

    Correct Answer
    D. All of the above.
    Explanation
    There are many rules related to business cards on full disclosure, clear communications, and proper identification of agent and insurer.

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  • 24. 

    How does the IRS classify the two different types of retirement accounts?

    • A.

      Qualified and unfunded

    • B.

      Fully funded and non-qualified

    • C.

      Qualified and non-qualified

    • D.

      Contributory and noncontributory

    Correct Answer
    C. Qualified and non-qualified
    Explanation
    "Qualified" means a plan meets certain IRS guidelines so it receives beneficial tax treatment, such as tax deferred. "Non-Qualified" means it does not meet those guidelines, and therefore doe not receive beneficial tax treatment.

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  • 25. 

    An insured has a terminal illness and needs to access 1/3 of his death benefit to pay mounting medical expenses. Which rider would meet the insured's current needs?

    • A.

      Automatic Premium Loan

    • B.

      Accelerated (Living) Benefit

    • C.

      Assignment of Benefit

    • D.

      Payor Benefit

    Correct Answer
    B. Accelerated (Living) Benefit
    Explanation
    The accelerated death benefit, or living need rider, pays a portion of the death benefit before death is the insured has a terminal illness.

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  • 26. 

    A beneficiary decides to take the option that will the largest amount per payment, knowing after death no monies will be paid out to any descendants. The settlement option is:

    • A.

      Life Guaranteed

    • B.

      Life with Period Certain

    • C.

      Life Income (Straight Life)

    • D.

      Life Refund Income

    Correct Answer
    C. Life Income (Straight Life)
    Explanation
    The life income settlement option pays the beneficiary an income until they die. Since no further payments will be made to their survivors, the insurer can afford to pay them a larger income versus the other options given.

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  • 27. 

    After 12 years, the policyowner decides she no longer needs the large death benefit on her whole life policy. She calls you, her agent, and you tell her she can use the reduced paid-up non-forfeiture option. Which of the following is not true about the new policy?

    • A.

      The new policy will require no further premium payments.

    • B.

      The new policy will expire in 10 years.

    • C.

      The new death benefit is much lower than the original policy.

    • D.

      The new policy will be in effect until the age of 100, or until she dies, whichever occurs first.

    Correct Answer
    B. The new policy will expire in 10 years.
    Explanation
    With the reduced paid-up non-forfeiture option, the policy will still be a whole life policy. Therefore it will mature at age 100 life the original policy. It will have a lower death benefit than the original.

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  • 28. 

    Which qualified plan is characterized by having a non-deductible contribution and tax-free distribution?

    • A.

      Traditional IRA

    • B.

      Keogh

    • C.

      Roth IRA

    • D.

      TSA's

    Correct Answer
    C. Roth IRA
    Explanation
    Contributions to a Roth IRA are not tax deductible. To encourage investing for retirement, Roth IRAs allow for tax-free withdrawal after 5 years and at least age 591/2.

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  • 29. 

    Which of the following statements about the process of replacement is incorrect?

    • A.

      The replacement insurer must notify the insurer within 3 days of the potential replacement.

    • B.

      The agent and the applicant must sign a statement as to whether replacement will be involved in the transaction.

    • C.

      A copy of the signed replacement disclosure must be left with the applicant.

    • D.

      Copies of any written illustration or comparisons used in the process of making the replacement do not need to be included with the submitted application.

    Correct Answer
    D. Copies of any written illustration or comparisons used in the process of making the replacement do not need to be included with the submitted application.
    Explanation
    To protect the client, disclosures need to be signed and left with the client, as well as submitted to all insurers involved. Anything used to make the sale should also be submitted.

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  • 30. 

    Members of the MIB are required to report

    • A.

      Names of patients treated by member physicians.

    • B.

      Cause of death when death benefits are paid.

    • C.

      Medical conditions found during underwriting.

    • D.

      Amounts of life insurance applied for by all applicants.

    Correct Answer
    C. Medical conditions found during underwriting.
    Explanation
    Made up of member insurance companies, the MIB only reports medical impairments found during underwriting; not policy information nor medical record information.

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  • 31. 

    All of the following statements about survivorship life are true, except:

    • A.

      They are particularly well suited to help families deal with estate tax burdens.

    • B.

      The face amounts are often for $1,000,000 or more.

    • C.

      The face amount is payable after the first death.

    • D.

      As a form of joint life, it covers two individuals on the same policy.

    Correct Answer
    C. The face amount is payable after the first death.
    Explanation
    Survivorship life, sometimes referred to as "second-to-die" joint life, insures two people on the same policy, but pays the death benefit only after the second insured dies.

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  • 32. 

    In contrasting stock insurers with mutual insurers, which statement is not false?

    • A.

      Mutual insurers are owned by the shareholders, and issue participating policies.

    • B.

      Stock insurers are owned by the shareholders, and issue non-participating policies.

    • C.

      Stock dividends are tax-free while policy dividends are taxable.

    • D.

      Non-participating policies can pay out dividends to the policyholders.

    Correct Answer
    B. Stock insurers are owned by the shareholders, and issue non-participating policies.
    Explanation
    Stock insurers are owned by their shareholders/stockholders. Their policies are labeled non-participating since the clients do not share in the divisible surplus (dividends).

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  • 33. 

    An applicant for an insurance license has had a previous application for a professional license denied for cause within the last five years. The insurance commissioner will:

    • A.

      Accept or deny the application after an exploratory hearing.

    • B.

      Deny the application without hearing.

    • C.

      Accept the application as other licenses have no bearing on this application.

    • D.

      Accept the application for a two year provisional license.

    Correct Answer
    B. Deny the application without hearing.
    Explanation
    The loss of a professional license, or the previous denial of an application for a license, within five years of the submission of the current application will result in the application being denied without a hearing.

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  • 34. 

    In order to be financially solvent, an insurer must accomplish all of the following, except:

    • A.

      Reinsure any risk in excess of state retention limits.

    • B.

      Possess enough assets to cover its liabilities.

    • C.

      Maintain an amount at least equal to its required minimum paid-in capital.

    • D.

      Contribute a specific amount of capital reserves to the state.

    Correct Answer
    D. Contribute a specific amount of capital reserves to the state.
    Explanation
    Reserves are retained by the insurer to pay future claims; they are not paid to the state.

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  • 35. 

    Pete, who is 35 years old, has a life insurance policy with a death benefit of $150,000. At the age of 65 the cash value of his policy will be $150,000. What policy does he have?

    • A.

      Whole Life

    • B.

      An Endowment to the age of 65

    • C.

      Life Paid-up at 65

    • D.

      A 30-Year Term Plan

    Correct Answer
    B. An Endowment to the age of 65
    Explanation
    Policy that matures at any age earlier than 100 is an endowment.

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  • 36. 

    Roger, who is 35 years old, has a whole life insurance policy with a death benefit of $150,000. At the age of 65 he will no longer make premium payments. When will the cash value of his policy be $150,000?

    • A.

      65

    • B.

      100

    • C.

      35

    • D.

      70

    Correct Answer
    B. 100
    Explanation
    Whole Life, even if a limited payment plan, still matures at age 100.

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  • 37. 

    Agent Darren offers life insurance for no cost to people buying property in a local development. When the Commissioner investigates his actions, which of the following is not a likely consequence?

    • A.

      A civil penalty of up to $5,000 if his actions were not willful and $10,000 fine they were.

    • B.

      A cease and desist order will be issued.

    • C.

      A hearing will be called.

    • D.

      Darren will be charged with a felony and/or up to 10 years in jail.

    Correct Answer
    D. Darren will be charged with a felony and/or up to 10 years in jail.
    Explanation
    Violations of the Unfair Practices Act customarily result in a hearing, a fine, and a cease and desist order.

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  • 38. 

    A life settlement broker

    • A.

      Places property & casualty insurance with non-admitted carriers.

    • B.

      Negotiates life settlement contracts between an owner and providers.

    • C.

      Sells single premium immediate annuities to seniors.

    • D.

      Assists beneficiaries in filing a claim on a life insurance policy.

    Correct Answer
    B. Negotiates life settlement contracts between an owner and providers.
    Explanation
    This is the definition of a life settlement broker.

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  • 39. 

    E&O coverage

    • A.

      Protects an agent in the case of unintentional negligence.

    • B.

      Has very low deductibles.

    • C.

      Does not protect the agent if the case against him/her is frivolous.

    • D.

      Is unlimited.

    Correct Answer
    A. Protects an agent in the case of unintentional negligence.
    Explanation
    One of the main purposes of errors and omission (E&O) coverage is to protect the agent in case of unintentional negligence.

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  • 40. 

    Candee owns a participating whole life policy and uses her policy dividends to buy more of the same type of coverage for herself. Candee has chosen the:

    • A.

      One-year term option

    • B.

      Accumulated at interest option

    • C.

      Reduced paid up option

    • D.

      Paid-up additions option

    Correct Answer
    D. Paid-up additions option
    Explanation
    Paid-up additions are of the same type of insurance as the base plan.

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  • 41. 

    A policy illustration may not include:

    • A.

      The name of the insurer, the name of the client, and the name of the producer.

    • B.

      Vanishing premiums if the policy becomes paid up with non-guaranteed elements paying future premiums.

    • C.

      An interest rate for non-guaranteed elements that is less than the earned interest rate of the disciplined current scale.

    • D.

      Depictions of policy performance being less favorable than the insurer's illustrated scale.

    Correct Answer
    B. Vanishing premiums if the policy becomes paid up with non-guaranteed elements paying future premiums.
    Explanation
    The term "vanishing premiums" can only be used if they are based on guaranteed elements.

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  • 42. 

    What is not likely to happen with a return of premium policy?

    • A.

      The total premiums paid are added to the death benefit.

    • B.

      The total premiums paid is returned to the insured when the policy is cancelled.

    • C.

      These policies typically have a higher premium than policies without this feature.

    • D.

      Increasing term insurance is use to provide this additional benefit.

    Correct Answer
    B. The total premiums paid is returned to the insured when the policy is cancelled.
    Explanation
    This benefit is payable to policy maturity.

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  • 43. 

    When a client is declined after submitting a prepaid application for life insurance:

    • A.

      The insurance company can keep the initial premium paid.

    • B.

      The client is still covered for 90 days on the conditional receipt.

    • C.

      The insurance company must refund the entire premium paid.

    • D.

      The client will pay an increased premium.

    Correct Answer
    C. The insurance company must refund the entire premium paid.
    Explanation
    Declining an application for insurance rescinds the contract, requiring a return of all premiums paid. It is as though the contract never existed.

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  • 44. 

    All of the following are characteristics of the social insurance program known as Social Security, except:

    • A.

      Full retirement age is 65 for all persons born after 1937.

    • B.

      Fully insured status can be achieved by paying the FICA tax for forty quarters/credits.

    • C.

      Retirement age is based upon the worker's birth year.

    • D.

      The worker's full retirement benefits are determined by the PIA.

    Correct Answer
    A. Full retirement age is 65 for all persons born after 1937.
    Explanation
    While 65 is commonly though of as retirement age, the law now states that full retirement age is based upon the worker's year of birth.

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  • 45. 

    In the insurance planning processes, the blackout period is:

    • A.

      The period of time in which a policy can be rescinded due to the applicants intentional or unintentional misstatements on the application.

    • B.

      The period of time in which the policy is still in force despite non-payment.

    • C.

      The period of time after the youngest child reaches 16, but before the widow reaches 60, in which the surviving spouse receives no Social Security benefits.

    • D.

      The period of time in which an employee is not yet eligible to join a group life insurance plan.

    Correct Answer
    C. The period of time after the youngest child reaches 16, but before the widow reaches 60, in which the surviving spouse receives no Social Security benefits.
    Explanation
    The blackout period is a feature of Social Security designating when no benefits will be paid to the surviving spouse of the deceased worker.

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  • 46. 

    A client receives a lump-sum inheritance. He'd like to use some of the money to create a lifetime income since he'll be retiring soon. He purchases an annuity and wishes to receive payments beginning in 2 months. What did he buy?

    • A.

      Single Premium Immediate Annuity

    • B.

      Flexible Premium Deferred Annuity

    • C.

      Flexible Premium Immediate Annuity

    • D.

      Single Premium Deferred Annuity

    Correct Answer
    A. Single Premium Immediate Annuity
    Explanation
    Any annuitization in 12 months or less from the effective date is an immediate annuity. A single premium annuity involves depositing one premium payment.

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  • 47. 

    The applicant works 2 different jobs. The underwriter will rate him according to which job?

    • A.

      The job with the most hours worked each week on average.

    • B.

      The job with the highest income.

    • C.

      The job the insured is most closely trained for professionally.

    • D.

      The job that is most hazardous.

    Correct Answer
    D. The job that is most hazardous.
    Explanation
    Regardless of hours worked or income, the most hazardous job will be used in the rating process.

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  • 48. 

    Your policy contains the guaranteed insurability rider. When can you purchase additional insurance on you policy?

    • A.

      Any time you wish once proving you are insurable for the additional coverage.

    • B.

      At specified ages or date after providing evidence of insurance.

    • C.

      Without proof of insurability when the cost of living increases.

    • D.

      Without evidence of insurability at specified ages or dates.

    Correct Answer
    D. Without evidence of insurability at specified ages or dates.
    Explanation
    Contractually, you can only add to the policy when permitted, since no medical qualification is required. Otherwise, the insured would wait for an illness to add to their policy.

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  • 49. 

    After the insured passes away, it is discovered that the policy was rated based upon an incorrect age. The client lied about their age when filling out the application 8 years earlier. What effect will this have on the benefit?

    • A.

      The policy is incontestable. Full claim will be paid.

    • B.

      The policy will be rescinded as it is contestable.

    • C.

      The proceeds payable will be adjusted.

    • D.

      The shortage of premium will be deducted from the death benefit.

    Correct Answer
    C. The proceeds payable will be adjusted.
    Explanation
    When the age is misstated on the application, the death benefit paid will be adjusted to reflect the correct age.

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  • 50. 

    Which of the following are common provisions found within many life insurance policies?

    • A.

      Reinstatement, entire contract, incontestability

    • B.

      Aviation, suicide, incontestability

    • C.

      Pre-existing conditions, entire contract, grace period

    • D.

      Right to return, reinstatement, war clause

    Correct Answer
    A. Reinstatement, entire contract, incontestability
    Explanation
    This is the only answer for which all items are policy provisions.

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Quiz Review Timeline +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Feb 07, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Jul 24, 2014
    Quiz Created by
    Gina_g
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