Study sets matching "life only insurance california exam"

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Study sets matching "life only insurance california exam"

551 terms
California Life and Health Insurance
Medical expense premiums paid by sole…
What is the Eligibility of a Qualified…
If an insurance contract has "variable…
What insurance product has a flexible…
They are fully deductible.
ERISA prescribes that all full time employees who have worked…
It is under the Federal Securities Laws. They have met the de…
A flexible premium deferred annuity.
Medical expense premiums paid by sole…
They are fully deductible.
What is the Eligibility of a Qualified…
ERISA prescribes that all full time employees who have worked…
California Life and Health Insurance
Medical expense premiums paid by sole…
What is the Eligibility of a Qualified…
If an insurance contract has "variable…
What insurance product has a flexible…
They are fully deductible.
ERISA prescribes that all full time employees who have worked…
It is under the Federal Securities Laws. They have met the de…
A flexible premium deferred annuity.
Medical expense premiums paid by sole…
They are fully deductible.
What is the Eligibility of a Qualified…
ERISA prescribes that all full time employees who have worked…
551 terms
California Life and Health Insurance
Medical expense premiums paid by sole…
What is the Eligibility of a Qualified…
If an insurance contract has "variable…
What insurance product has a flexible…
Fully deductible.
ERISA prescribes that all full time employees who have worked…
It is under the Federal Securities Laws. They have met the de…
A flexible premium deferred annuity.
Medical expense premiums paid by sole…
Fully deductible.
What is the Eligibility of a Qualified…
ERISA prescribes that all full time employees who have worked…
California Life and Health Insurance
Medical expense premiums paid by sole…
What is the Eligibility of a Qualified…
If an insurance contract has "variable…
What insurance product has a flexible…
They are fully deductible.
ERISA prescribes that all full time employees who have worked…
It is under the Federal Securities Laws. They have met the de…
A flexible premium deferred annuity.
Medical expense premiums paid by sole…
They are fully deductible.
What is the Eligibility of a Qualified…
ERISA prescribes that all full time employees who have worked…
51 terms
California Life Insurance Test Terms Syncis Set
Needs Approach
Ordinary Life
Mortality Table
Morbidity Table
Attempting to determine how much insurance an individual woul…
Insurance policy with a face amount of $1000 or more, premium…
Used by life insurance companies to help predict the life exp…
Predicts the likelihood that an insured will contract any num…
Needs Approach
Attempting to determine how much insurance an individual woul…
Ordinary Life
Insurance policy with a face amount of $1000 or more, premium…
California Life & Health Insurance 2 - Life Insurance Basics
What are the personal uses of life ins…
Who is responsible for the contents of…
What type of policy issues certificate…
When must insurable interest exist in…
Survivor protection, estate creation and conservation, cash a…
The insurance company
Group Policy
At the time of application.
What are the personal uses of life ins…
Survivor protection, estate creation and conservation, cash a…
Who is responsible for the contents of…
The insurance company
78 terms
POL California Life: The Insurance Marketplace
An independent agent may have contacts…
An exclusive agent...
Which of the following persons represe…
An agent is a legal person who acts on…
More than one insurer
Has a contract with one company
Independent agent
The principal
An independent agent may have contacts…
More than one insurer
An exclusive agent...
Has a contract with one company
California Life & Health Insurance 1 - General Insurance
What type of risk is insurable?
According to the Law of Agency, a prin…
What type of insurer is a voluntarily…
When a change needs to be made on the…
Pure Risk
Agent or Producer
Fraternal Insurer
Complete a new application or ask the applicant to initial th…
What type of risk is insurable?
Pure Risk
According to the Law of Agency, a prin…
Agent or Producer
California Life & Health Insurance 12 - Insurance Regulation
On its advertisement, a company claims…
The requirement that agents must accou…
If a producer makes maliciously critic…
What type of misrepresentation persuad…
Misrepresentation
Fiduciary Reponsibility
Defamation
Twisting
On its advertisement, a company claims…
Misrepresentation
The requirement that agents must accou…
Fiduciary Reponsibility
50 terms
California Life & Health Insurance 1 - General Insurance
What type of risk is insurable?
According to the Law of Agency, a prin…
What type of insurer is a voluntarily…
When a change needs to be made on the…
Pure Risk
Agent or Producer
Fraternal Insurer
Complete a new application or ask the applicant to initial th…
What type of risk is insurable?
Pure Risk
According to the Law of Agency, a prin…
Agent or Producer
32 terms
Life Insurance Only
Contingent beneficiary
Mortality charge
Variable Whole Life
Variable Universal Life
Is someone named as next in line when all primary beneficiari…
An amount of money that the insurance company peridocally wit…
Premiums are invested in units (shares) of a seperate account…
Premiums are invested In units of a separate account. Benefit…
Contingent beneficiary
Is someone named as next in line when all primary beneficiari…
Mortality charge
An amount of money that the insurance company peridocally wit…
California Life Insurance Key Facts
Survivorship life pays when...
Allows the insured to select from a nu…
What is variable life and what do you…
TRUE OR FALSE:... Can a policy owner ente…
The surviving insured dies and is commonly used to help pay e…
A variable life insurance policy...
Variable life is a securities product and a securities licens…
TRUE.`
Survivorship life pays when...
The surviving insured dies and is commonly used to help pay e…
Allows the insured to select from a nu…
A variable life insurance policy...
69 terms
POL California Life: Life Insurance- Basics
Kayla's husband died in a plane crash…
What is the term used when a person se…
Which of the following is NOT a type o…
A family's need for income is great du…
Life insurance proceeds.
Liquidation
Estimated longevity
Family Dependency Period
Kayla's husband died in a plane crash…
Life insurance proceeds.
What is the term used when a person se…
Liquidation
California Life-Only Agent Key Terms Terms
What parties are involved in a group c…
What is a Keogh plan?
What is an "Illustration"?
What does "non-guaranteed elements" me…
A group contract is between the insurer and the employer.
A retirement plan for those who are self employed.
A presentation or depiction that includes non-guaranteed elem…
The premiums, benefits, values, credits or charges under a po…
What parties are involved in a group c…
A group contract is between the insurer and the employer.
What is a Keogh plan?
A retirement plan for those who are self employed.
California Life & Health Insurance 12 - Insurance Regulation
On its advertisement, a company claims…
The requirement that agents must accou…
If a producer makes maliciously critic…
What type of misrepresentation persuad…
Misrepresentation
Fiduciary Reponsibility
Defamation
Twisting
On its advertisement, a company claims…
Misrepresentation
The requirement that agents must accou…
Fiduciary Reponsibility
California Life & Health Insurance 12 - Insurance Regulation
On its advertisement, a company claims…
The requirement that agents must accou…
If a producer makes maliciously critic…
What type of misrepresentation persuad…
Misrepresentation
Fiduciary Reponsibility
Defamation
Twisting
On its advertisement, a company claims…
Misrepresentation
The requirement that agents must accou…
Fiduciary Reponsibility
California Life & Health Insurance 3 - Life Insurance Policies
What type of premium is charged on a s…
What are the "living benefits" of whol…
If an employee wants to join group lif…
Under a 20-Pay whole life policy, in o…
A level premium for the life of the insured.
Loan Values
Evidence of Insurability
For 20 years or until the insured's death, which ever occurs…
What type of premium is charged on a s…
A level premium for the life of the insured.
What are the "living benefits" of whol…
Loan Values
Cram Sheet - Life Insurance Only
Policy loans must be available after _…
Settlement of death benefit =
Time limit for legal action may not be…
Policy cannot be backdated more than _…
3 years
2 months
2 years
6 months
Policy loans must be available after _…
3 years
Settlement of death benefit =
2 months
241 terms
California Life-Only Agent Key Terms Terms
What parties are involved in a group c…
What is a Keogh plan?
What is an "Illustration"?
What does "non-guaranteed elements" me…
A group contract is between the insurer and the employer.
A retirement plan for those who are self employed.
A presentation or depiction that includes non-guaranteed elem…
The premiums, benefits, values, credits or charges under a po…
What parties are involved in a group c…
A group contract is between the insurer and the employer.
What is a Keogh plan?
A retirement plan for those who are self employed.
121 terms
California Insurance Life Agent Combo Test Sample
Risk is:... a. the chance that might prov…
When can a representation be altered o…
The function of insurance is best desc…
When large numbers of similar risks ar…
d. the uncertainty or chance of a loss occurring.
a. It can be altered or withdrawn before the insurance is iss…
c. It spreads financial risk over a large group so as to mini…
d. predictable
Risk is:... a. the chance that might prov…
d. the uncertainty or chance of a loss occurring.
When can a representation be altered o…
a. It can be altered or withdrawn before the insurance is iss…
121 terms
California Insurance Life Agent Combo Test Sample
Risk is:... a. the chance that might prov…
When can a representation be altered o…
The function of insurance is best desc…
When large numbers of similar risks ar…
d. the uncertainty or chance of a loss occurring.
a. It can be altered or withdrawn before the insurance is iss…
c. It spreads financial risk over a large group so as to mini…
d. predictable
Risk is:... a. the chance that might prov…
d. the uncertainty or chance of a loss occurring.
When can a representation be altered o…
a. It can be altered or withdrawn before the insurance is iss…
241 terms
California Life-Only Agent Key Terms Terms
What parties are involved in a group c…
What is a Keogh plan?
What is an "Illustration"?
What does "non-guaranteed elements" me…
A group contract is between the insurer and the employer.
A retirement plan for those who are self employed.
A presentation or depiction that includes non-guaranteed elem…
The premiums, benefits, values, credits or charges under a po…
What parties are involved in a group c…
A group contract is between the insurer and the employer.
What is a Keogh plan?
A retirement plan for those who are self employed.
241 terms
California Life-Only Agent Key Terms Terms
What parties are involved in a group c…
What is a Keogh plan?
What is an "Illustration"?
What does "non-guaranteed elements" me…
A group contract is between the insurer and the employer.
A retirement plan for those who are self employed.
A presentation or depiction that includes non-guaranteed elem…
The premiums, benefits, values, credits or charges under a po…
What parties are involved in a group c…
A group contract is between the insurer and the employer.
What is a Keogh plan?
A retirement plan for those who are self employed.
51 terms
California Life Insurance Test Terms Syncis Set
Needs Approach
Ordinary Life
Mortality Table
Morbidity Table
Attempting to determine how much insurance an individual woul…
Insurance policy with a face amount of $1000 or more, premium…
Used by life insurance companies to help predict the life exp…
Predicts the likelihood that an insured will contract any num…
Needs Approach
Attempting to determine how much insurance an individual woul…
Ordinary Life
Insurance policy with a face amount of $1000 or more, premium…
51 terms
California Life Insurance Test Terms Syncis Set
Needs Approach
Ordinary Life
Mortality Table
Morbidity Table
Attempting to determine how much insurance an individual woul…
Insurance policy with a face amount of $1000 or more, premium…
Used by life insurance companies to help predict the life exp…
Predicts the likelihood that an insured will contract any num…
Needs Approach
Attempting to determine how much insurance an individual woul…
Ordinary Life
Insurance policy with a face amount of $1000 or more, premium…
19 terms
Rules Pertinent to Life Insurance Only
Marketing and Solicitations
Advertisements
Illustration
General Rules
•An attempt to persuade a person to buy insurance policy, and…
•Must be accurate and not misrepresent the facts.
•A presentation or depiction that includes non-guaranteed ele…
•Name of insurer ... •Name and business address of producer ... •Na…
Marketing and Solicitations
•An attempt to persuade a person to buy insurance policy, and…
Advertisements
•Must be accurate and not misrepresent the facts.
California Life and Health Insurance Glossary Terms
Absolute Assignment
Accident
Accident and Sickness
Accidental Means
A transfer by the policyholder of all control and rights to a…
A sudden event, unforeseen and unintended
Insurance against bodily injury, disability or death by accid…
The unexpected cause of an accidental bodily injury. Under an…
Absolute Assignment
A transfer by the policyholder of all control and rights to a…
Accident
A sudden event, unforeseen and unintended
99 terms
California Life-Only Agent Key Facts
Group Contract
Keogh Plan
Illustration
Non-Guaranteed Elements
A ____ ____ is between the insurer and the employer. (A contr…
A ____ ____ is a type of retirement plan for self-employed pe…
An "_____" is a presentation or depiction that includes non-g…
In a life insurance policy illustration "non-_____ ____" mean…
Group Contract
A ____ ____ is between the insurer and the employer. (A contr…
Keogh Plan
A ____ ____ is a type of retirement plan for self-employed pe…
40 terms
TN Life Only: Life Insurance Basics
How does the premium mode affect the t…
Who is responsible for the contents of…
All other factors being equal, which p…
What type of policy issues certificate…
higher frequency of premium payments will result in higher ov…
the insurance company
monthly
group policy
How does the premium mode affect the t…
higher frequency of premium payments will result in higher ov…
Who is responsible for the contents of…
the insurance company
50 terms
TN Life Only: Life Insurance Policies
If an employee wants to join group lif…
What type of life insurance policy pro…
What are the characteristics of the gr…
What universal life option has a gradu…
evidence of insurability
whole life
group's purpose, size, financial strength and turnover
option A (gradually increasing cash value, level death benefit)
If an employee wants to join group lif…
evidence of insurability
What type of life insurance policy pro…
whole life
241 terms
California Life-Only Agent Key Terms Terms
What parties are involved in a group c…
What is a Keogh plan?
What is an "Illustration"?
What does "non-guaranteed elements" me…
A group contract is between the insurer and the employer.
A retirement plan for those who are self employed.
A presentation or depiction that includes non-guaranteed elem…
The premiums, benefits, values, credits or charges under a po…
What parties are involved in a group c…
A group contract is between the insurer and the employer.
What is a Keogh plan?
A retirement plan for those who are self employed.
79 terms
California Life Insurance Test Syncis Set Questions 1
Which one of these is an Ordinary Life…
What is another name for an accidental…
What kind of tax is charged on the dea…
John has a life insurance policy. He n…
Single Premium Whole Life (Ordinary life policies are always…
Double Indemnity
Death Benefits are Tax Exempt.
Morale Hazard
Which one of these is an Ordinary Life…
Single Premium Whole Life (Ordinary life policies are always…
What is another name for an accidental…
Double Indemnity
California Life & Health Insurance 6 - Tax Consideration
What are the income tax benefits of a…
SIMPLE plans are available to groups o…
What is the primary purpose of a 401(k…
What is the main purpose of the Seven-…
Employer contributions are tax deductible and are not taxed a…
No more than 100
To provide retirement income.
To determine if a life insurance policy is a Modified Endowme…
What are the income tax benefits of a…
Employer contributions are tax deductible and are not taxed a…
SIMPLE plans are available to groups o…
No more than 100
241 terms
California Life-Only Agent Key Terms Terms
What parties are involved in a group c…
What is a Keogh plan?
What is an "Illustration"?
What does "non-guaranteed elements" me…
A group contract is between the insurer and the employer.
A retirement plan for those who are self employed.
A presentation or depiction that includes non-guaranteed elem…
The premiums, benefits, values, credits or charges under a po…
What parties are involved in a group c…
A group contract is between the insurer and the employer.
What is a Keogh plan?
A retirement plan for those who are self employed.
241 terms
California Life-Only Agent Key Terms Terms
What parties are involved in a group c…
What is a Keogh plan?
What is an "Illustration"?
What does "non-guaranteed elements" me…
A group contract is between the insurer and the employer.
A retirement plan for those who are self employed.
A presentation or depiction that includes non-guaranteed elem…
The premiums, benefits, values, credits or charges under a po…
What parties are involved in a group c…
A group contract is between the insurer and the employer.
What is a Keogh plan?
A retirement plan for those who are self employed.
241 terms
California Life-Only Agent Key Terms Terms
What parties are involved in a group c…
What is a Keogh plan?
What is an "Illustration"?
What does "non-guaranteed elements" me…
A group contract is between the insurer and the employer.
A retirement plan for those who are self employed.
A presentation or depiction that includes non-guaranteed elem…
The premiums, benefits, values, credits or charges under a po…
What parties are involved in a group c…
A group contract is between the insurer and the employer.
What is a Keogh plan?
A retirement plan for those who are self employed.
California Life-Only Agent Key Terms Terms
What parties are involved in a group c…
What is a Keogh plan?
What is an "Illustration"?
What does "non-guaranteed elements" me…
A group contract is between the insurer and the employer.
A retirement plan for those who are self employed.
A presentation or depiction that includes non-guaranteed elem…
The premiums, benefits, values, credits or charges under a po…
What parties are involved in a group c…
A group contract is between the insurer and the employer.
What is a Keogh plan?
A retirement plan for those who are self employed.
70 terms
POL California Life: Individual Life Insurance Contract - Provisions and Options
According to the Entire Contract provi…
According to the entire contract provi…
The provision which states that both t…
Which of the following policy componen…
A copy of the original application for insurance.
Copy of the original application
Entire contract
Insuring clause
According to the Entire Contract provi…
A copy of the original application for insurance.
According to the entire contract provi…
Copy of the original application
43 terms
POL California Life: Taxation of Life Insurance and Annuities - Premiums and Proceeds
If taken as a lump sum, life insurance…
When the owner of a $250,000 life insu…
Which of the following terms is used t…
Which of the following is true regardi…
Free of federal income taxation
$11,000
Dividend
Dividends are not taxable
If taken as a lump sum, life insurance…
Free of federal income taxation
When the owner of a $250,000 life insu…
$11,000
20 terms
POL California Life: Life Insurance and Annuities - Policy Replacement and Cancellation
All insurance policies and annuity con…
Which of the following insureds has a…
The notice to senior consumers regardi…
The right of the applicant to rescind…
30 days
Insureds 60 years of age or older
12-point bold print
Must be clearly stated in the policy's text
All insurance policies and annuity con…
30 days
Which of the following insureds has a…
Insureds 60 years of age or older
25 terms
California Insurance Pre-Licensing - Life Limited to Final Expense
Guaranteed Renewable Insurance Contract
Double Indemnity
Common Disaster Clause
Noncontributory Benefits
A life or health insurance policy that cannot be changed, exc…
A policy rider that doubles the death benefit if the insured…
Protects the beneficiaries when the insured and beneficiary d…
A life or health insurance plan that an employer provides for…
Guaranteed Renewable Insurance Contract
A life or health insurance policy that cannot be changed, exc…
Double Indemnity
A policy rider that doubles the death benefit if the insured…
49 terms
TN Life Only: General Insurance Questions
What two elements are necessary for a…
What type of insurer is a voluntarily…
What entities make up the Medical Info…
What do individuals use to transfer th…
insurable interest and consent
fraternal insurer
insurers
insurance
What two elements are necessary for a…
insurable interest and consent
What type of insurer is a voluntarily…
fraternal insurer
California Life & Health Insurance 11 - Senior Citizens & Special Needs Individuals
What Medicare part provides a prescrip…
What benefits are provided by Medicare…
What is another name for Old Age, Surv…
Who qualifies for Medicare coverage?
Part D
Expanded benefits for a fee through private insurance program…
Social Security
People age 65 or older, or anyone who has been entitled to So…
What Medicare part provides a prescrip…
Part D
What benefits are provided by Medicare…
Expanded benefits for a fee through private insurance program…
Texas Statutes and Rules Pertinent to Life Insurance Only
Which of the following is the benefici…
A printer has hired and advertising ag…
What provisions in a life insurance po…
According to the limitations of lawsui…
Creditor
The insurance company.
Grace Period
2 years
Which of the following is the benefici…
Creditor
A printer has hired and advertising ag…
The insurance company.
California Life & Health Insurance 8 - Types of Health Policies
How can an AD&D (Accidental Death & Di…
What is the time requirement for termi…
If a group health policy covers indivi…
When are newborns covered in individua…
As a rider to a health insurance policy, or as a separate pol…
31 days after termination of the employment.
The state in which the policy was delivered.
From the moment of birth.
How can an AD&D (Accidental Death & Di…
As a rider to a health insurance policy, or as a separate pol…
What is the time requirement for termi…
31 days after termination of the employment.
150 terms
California Life Insurance Test Syncis Set Questions 4
Harold, a variable annuity applicant d…
Any transaction that involves purchasi…
According to the CA Insurance Code, in…
An organization will cease to exist as…
The entire premium.
replacement.
Life
termination of a key employee.
Harold, a variable annuity applicant d…
The entire premium.
Any transaction that involves purchasi…
replacement.
California Life & Health Insurance 4 - Life Insurance Policy Provisions, Options, & Riders
What type of beneficiary is next in li…
What are the dividend options in life…
What are the three non forfeiture opti…
What happens to a policy's cash value…
Contingent Beneficiary
Cash, Reduced Premium, Accumulation at Interest, Paid-Up Addi…
Cash Surrender, Reduced Paid-Up, and Extended Term
The cash value is converted the same face amount as in the wh…
What type of beneficiary is next in li…
Contingent Beneficiary
What are the dividend options in life…
Cash, Reduced Premium, Accumulation at Interest, Paid-Up Addi…
13 terms
IL State Life Insurance Penalties and fees only
Not being properly licensed
Insurance company that does not give p…
financing premiums without proper lice…
Violating order issued by DOI
1. class a misdemeanor ... 2. class 4 felonly if you misappropri…
1. civil penalty... 2. suspension/revocation
1. civil penalty of up to $1000 per violation
1. suspended or revoked license... 2.fine up to $10,000... 3. held…
Not being properly licensed
1. class a misdemeanor ... 2. class 4 felonly if you misappropri…
Insurance company that does not give p…
1. civil penalty... 2. suspension/revocation
MN Laws Life Insurance Only ( 5 Questions )
What is a beneficiary?
Spendthrift Provision
Right to Cancel
Free Look Period
- Person named to receive death benefit ... - Can receive in…
- Used when policy provides monthly, quarterly, semi annual,…
- Insurer must include a notice in the policy about cancellat…
- Insured must give written notice of cancellation within 10…
What is a beneficiary?
- Person named to receive death benefit ... - Can receive in…
Spendthrift Provision
- Used when policy provides monthly, quarterly, semi annual,…
California Life & Health Insurance 11 - Senior Citizens & Special Needs Individuals
What Medicare part provides a prescrip…
What benefits are provided by Medicare…
What is another name for Old Age, Surv…
Who qualifies for Medicare coverage?
Part D
Expanded benefits for a fee through private insurance program…
Social Security
People age 65 or older, or anyone who has been entitled to So…
What Medicare part provides a prescrip…
Part D
What benefits are provided by Medicare…
Expanded benefits for a fee through private insurance program…
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