CA LIFE AND HEALTH INSURANCE EXAM 3 LATEST VERSIONS (VERSION A, B AND C) ACTUAL EXAM 350 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A

CA LIFE AND HEALTH INSURANCE EXAM 3 LATEST

VERSIONS (VERSION A, B AND C) 2023-2024 ACTUAL

EXAM 350 QUESTIONS AND CORRECT DETAILED

ANSWERS WITH RATIONALES (VERIFIED ANSWERS)

|ALREADY GRADED A

CA LIFE AND HEALTH INSURANCE EXAM VERSION A

According to the California Insurance Code, the Commissionee can

disapprove a licensee's request to use a fictitious name for any of the

following reasons EXCEPT that the - ANSWER- Name is the licensee's

actual name

Is is considered an unfair method of competition for an agent to

advertise that the insurer that agent is appointed with is - ANSWER- A

member of the Insurance Guatentee Association

All of the following are requirements of contract EXCEPT - ANSWERthere must be equal consideration between the parties

If an insurer must have its rates accepted by the insurance department

prior to using them, the insurer would be operating in which of the

following types of jurisdictions? - ANSWER- prior approval

It is federal offense for an insurance agent to do all of the following

except - ANSWER- Misrepresent facts on an insurance application


How often MUST an insurer file the National Association of Insurance

Commissioners (NAIC) financial statement? - ANSWER- Annually

A person authorized by and on behalf of an insurer who transacts life,

disability or life and accident and health insurance is defined as? -

ANSWER- Life agent

An insurer entitled to transact business by complying with the California

Insurance Code is known as an? - ANSWER- admitted carrier

Who are the members of the Medical Information Bureau? - ANSWERLife and health insurers

If you have been convicted of a misdemeanor and that mideameanor

conviction is later expunged pursuant to California Penal Code Sectiob

1203.4, which of the following is true? - ANSWER- Even though your

misdemeanor conviction was expunged, you must still disclose your

misdemeanor conviction in your individual application for an insurance

license.

The direct response distribution of Insurance untalizes all of the

following to promote the sales of insurance EXCEPT - ANSWERTelephone call from an agent

The increase in the probability of a loss resulting from an insured's

dishonest tendencies is known as - ANSWER- Moral hazard


Which is an agreement in which an insurer contacts with a third party to

insure itself against losses from insurance policies it issues? -

ANSWER- Reinsurance

Which of the following would an agent be guilty for misrepresenting the

amount of dividends a policy will pay? - ANSWER- A misdemeanor

What rule is used to determine the importance of a representation? -

ANSWER- The materiality of concealment

Which of the following is a hazard? - ANSWER- A condition that may

increase the likelihood of a loss occurring

When are the parties to a contract REQUIRED to connunicGe

information solely based on personal judgement for a matter in

question? - ANSWER- Never

According to the California Insurance Code, if an insurer's certificate of

authority is revoked, the commissioner can proceed with any of the

following actions EXCEPT - ANSWER- Using Guarantee Funds to pay

salaries

Section 1729.2 of the California Insurance Code requires insurance

producer apppicstoons and licenses to notify the insurance commissioner

in writing, within ___ days of charges in background information after

an application has been submitted or a license has been issued? -

ANSWER- 30 days


The insurer's department with PRIMARY responsibility for the risk

selection process is called: - ANSWER- Underwriting

A person owns a life annuity. He elects to receive his annuity payments

monthly for the remainder of his life with "ten years certain". The

annuity will make payments for.. - ANSWER- A minimum of 120

months and a maximum of the remainder of his life

All of the following information is gathered during the personal

financial planning process EXCEPT - ANSWER- A listing of a person's

civic and professional organizational memberships.

Which policy provisions allows an insured to continue coverage under a

lrevisional lapsed policy? - ANSWER- The reinstatement provision

According to the California Insurance Code, governing the use of life

insurance policy illustrations, the term illustration means - ANSWERPresentation of policy features that includes non-guaranteed elements

The life insurance grace period allows the insured to - ANSWER- Pay

the premium after the due date without loss of coverage

When a family policy covers children, all of the following are true

EXCEPT - ANSWER- evidence of insurability is required to convert

coverage for children to permanent insurance.


No comments found.
Login to post a comment
This item has not received any review yet.
Login to review this item
No Questions / Answers added yet.
Price $31.00
Add To Cart

Buy Now
Category Exams and Certifications
Comments 0
Rating
Sales 0

Buy Our Plan

We have

The latest updated Study Material Bundle with 100% Satisfaction guarantee

Visit Now
{{ userMessage }}
Processing