CALIFORNIA LIFE PRACTICE EXAM A
2025 QUESTIONS WITH 100% CORRECT
ANSWERS!!
WHICH OF THE FOLLOWING IS NOT A CHARACTERISTIC OF GROUP LIFE
INSURANCE? - ✔️✔️A GROUP MAY EXIST FOR THE PURPOSE OF PURCHASING
INSURANCE.
AN ANNUITY THAT IS PURCHASED WITH A LUMP SUM PREMIUM AND WHOSE
BENEFITS BEGIN AFTER 12 MONTHS IS CALLED A - ✔️✔️SINGLE PREMIUM
DEFERRED ANNUITY
A TECHNIQUE USED TO DETERMINE THE AMOUNT OF LIFE INSURANCE
NEEDED BY FOCUSING ON THE PROJECTED EARNING POTENTIAL OF AN
INSURED IS CALLED THE - ✔️✔️HUMAN LIFE VALUE APPROACH
WHEN REPLACING A POLICY THE PRODUCER MUST PRESENT THE APPLICANT
WITH A NOTICE REGARDING REPLACEMENT OF LIFE INSURANCE - ✔️✔️AT
THE TIME OF TAKING THE APPLICATION
WHICH STATEMENT IS INCORRECT ABOUT A FIXED ANNUITY? - ✔️✔️INCOME
PAYMENTS VARY FROM MONTH TO MONTH
ACCORDING TO THE CALIFORNIA DEPARTMENT OF INSURANCE, AN INSURER
WHOSE ARTICLES OF INCORPORATION ARE REGISTERED IN OSLO, NORWAY
IS CONSIDERED A/AN - ✔️✔️ALIEN INSURER
THE POSSIBILITY OF A FINANCIAL LOSS INCURRED BY A LIFE INSURANCE
COMPANY FOR THE PREMATURE DEATH OF AN INSURED IS KNOW AS A -
✔️✔️RISK
THE MEDICAL INFORMATION BUREAU (MIB) IS A NONPROFIT TRADE
ASSOCIATION THAT MAINTAINS - ✔️✔️MEDICAL INFORMATION ON
APPLICANTS FOR LIFE AND HEALTH INSURANCE
