exam 7

75問 • 1年前

問題一覧

The purpose of laws regarding the replacement of the life and annuity contracts includes all of th following , except :

to protect the interests of life insurers and their agent

All of the following would fall under the category of an “adverse underwriting decision “ , except :

failure of the agent to submit the application an insurance company

In order to obtain group insurance without providing evidence of insurability , what do eligible individuals generally have to do

enroll within a specified eligibility period

An agent who acts as an insurance agent , broker , solicitors , life-only agent , or ball agent , acts in which capacity when hassling premiums or return premiums for an insured

fiduciary

In order to determine the amount of premium an insured will pay , the insurer multiplie the rate by :

the number of exposure units

Vatican seetlemts are accomplished through the use of :

absolute assignment

The convention privilege also was a person to change coverage from

a group policy to an individual policy

All of the following stem at about qualified pension plan are true , except :

employer contribution are taxable to employees in the year they are contributed

What is the written instrument called inn which the insurance contract is set forth

extend term insurance

Which non-forfeiture option uses cash surrender values to purchase paid-up term insurance for the full face amount of the policy

extended term insurance

What is the difference between a defined contribution plan and a defined benefit plan

the penalties for early distribution

A life-only agents records must include all of the following, except

printed material in general use which has been distributed by the insurer

A worker dies while he is credited with six quarters of the last 13 quarters period , what status does the worker have under social security

currently insured

A return of premium rider is a rider that

provides the periodic return of a percentage of the premiums that have been paid if the insured becomes and remains disabled

An angent appaointmet with an insurer will be discontinued if all of the following circumstances exist , except

another insurer submits an employment application

Social security provides protection against the financial consequences of al of the following except :

poor investments

Which retirement plan utilizes non-deductible contributions

Roth IRA’S

All of the occurrences listed below are examples of an isnruanble event defined by the CA insurance code , except:

an insured suffers a financial loss in the state lottery

The social security normal retirement age depends upon :

the workers year of birth

The complete transfer by the existing owner for al rights in an insurance policy to another person is :

absolute assignment

Which retirement plan was designed for employees of public school systems

TSA

Which settlement options allows only the death benefit earning to be paid to the beneficiary

intrest option

All of the following apply to the life inspection cost-of living rider except :

the face value of the policy raises if lowers as the cost of living index increases or decreases

The social security black out period ends when the surviving spouse reaches the age of :

Retirement benefits under social security are available only for workers who are :

fully insured

In which plans do employees make specific conribution to an employees retirement account

defined contribution plans

In a seven year vesting schedule , what percentage of employer contributions must be vested after 7 years of service

100%

A representation in an insurance contract qualified as which of the following

an implied warranty

A policy holder stops making payments on a 20-pay life policy and converts they cash surrender values to extended term insurance , all of the following stsments are true , except

the term policy will have the same loan value as the original policy

Which non-forfeiture option uses an existing policy’s cash value to purchase a paid-up policy with a lower face value than the original policy

reduced paid-up insurance option

What is required when an application reveals conditions that require more information

physical examination

Which risk classification carries the lowest permium

standard

Which statment best describes a life insurance policy dividend

it is distribution of excess of funds accumulated by the insurer on participating policies

If a person was in violation of section770 of the CA insurance code , what action would the insurance commissioner most likely take if the violation with loans on the security of real or personal properly

issue a cease and desist order fro a violation of more than one transaction

If no other method of payment is selected , which of the following is the automatic mode of settlement for life insurance policy proceeds

lump sum settlement in cash

The process whereby a mutual insurer becomes a stock company is called :

demutualization

Any situation that presents the possibility of a loss is known as :

a loss exposure

Which settlement option allows only the death benefit earnings to be paid to the beneficiary

intrest option

An agent acting as an insurance agent , broker, solicitor , life-only , or bail agent acts in which capacity when handaling premiums for an insured

fidicuary

According to state law , what size print must be used for the licenses number on all price quotes , business cards and printed material

the same side print as the license phone number , fax , number or addresses

According to employee income security act of 1974 (ERISA) fiduciary standards benefit plans are operated for :

plan participants and beneficiaries

Life insurance settlement options include all of the following , except

extended term option

A life insurance application is important for all the following reasons, except:

The beneficiary must sign the application before the insurer will issue the policy

The price of insurance for each exposure unit is called the:

Rate

To authorize the release of an attending physicians report, the applicant must:

Sign a consent form

Yearly probabilities of death are shown in:

Mortality tables

Members of the Medical Information Bureau are required to report:

Medical impairments found during the underwriting process

When referring to an insurance contract, when must a representation be made?

Either at the time of or before policy issuance

Frank and Ernest are 25 year old identical twins. They are both in excellent health. Both buy policies that have $500 annual premiums. Frank buys a 5-year renewable term policy. Ernest buys a whole life policy. Which statement is not true?

Frank has the option of using his cash value to purchase a reduced amount of paid-up while life insurance

The request for an attending physicians report must be accompanied by a copy of the : s

singled authorization

Which life insurance classification carries the highest premium?

Substandard

A group insurance plan is contributory when the:

Employee pays part of the premium

Whose benefits are affected by the blackout period ?

The surviving spouse

Which of the following is not an option for the use of the policy dividends?

Fund the addition of the monthly income payments

Who are the owners/members of the Medical Information Bureau

Life insurance companies

After the deductible, what portion does the patient pay for covered expenses under Medical Part B?

20%

Which of the following functions is best defied as an insurance company’s identifying and selling the potential customers?

Marketing

What is called when an insurer uses higher rates based solely on religion, race, ethnic group ?

Unfair discrimination

A policy owner has the right to change all of the following, except:

The dividend schedule

When must insurance records for insurance agents brokers be made available to the insurance commissioner?

At all times

In a reinsurance agreement, the insurance company that transfers its loss exposure to another insurer is called:

Primary Insurer

Which type of insurance policy provides a death benefit that matches the projected outstanding debt on an individuals home?

Mortgage protection

What do we call the process whereby insurers decide which customers to insure, and what coverage to offer?

Underwriting

Which of the following is the best definition of premium?

Money the insured pays the insurer to obtain the benefits in the policy

If an insurer pays an insured $25,000 in lost wages, $45,000 for physicians visits and hospital costs, and $15,000 for physical therapy treatments, nad later discovers that claims was fraudulent, the insured may be fined as much as:

$170,000

What rule is used to determine the importance of a representation

the materially of concealment

What is the difference between a conditional premium receipt and a binding premium receipt

only a binding receipt always provides insurance that is effective from the date the receipt is given

After a life insurance policy has been in effect for 2 years , what prevents it rom being rescind by the insurer

the incontestability clause

The black out period starts when the youngest child reaches the age of :

A person responsible for collecting of premium payments paid by the insured , which of the following staments is true concerning the total of premium paid by the end of the year :

is greater if paid semi-annually rather than annually

A disability income policy cover injury suffered by an insured on or off the job is called

an occupalational policy

Which 2 are activities of dally living

eating and dressing

Medicare Part A begins automatically at age :

The insured policy ha a deductible that is applied between the exhaustion of basic plan limits and the commencement of excess coverage , this is called

corridor deductible

A waiting period between the onset of disability and the time when benefits begin is the :

elimination period

exam A

ユーザ名非公開 · 71問 · 1年前

exam A

71問 • 1年前

ユーザ名非公開

問題一覧

The purpose of laws regarding the replacement of the life and annuity contracts includes all of th following , except :

to protect the interests of life insurers and their agent

All of the following would fall under the category of an “adverse underwriting decision “ , except :

failure of the agent to submit the application an insurance company

In order to obtain group insurance without providing evidence of insurability , what do eligible individuals generally have to do

enroll within a specified eligibility period

An agent who acts as an insurance agent , broker , solicitors , life-only agent , or ball agent , acts in which capacity when hassling premiums or return premiums for an insured

fiduciary

In order to determine the amount of premium an insured will pay , the insurer multiplie the rate by :

the number of exposure units

Vatican seetlemts are accomplished through the use of :

absolute assignment

The convention privilege also was a person to change coverage from

a group policy to an individual policy

All of the following stem at about qualified pension plan are true , except :

employer contribution are taxable to employees in the year they are contributed

What is the written instrument called inn which the insurance contract is set forth

extend term insurance

Which non-forfeiture option uses cash surrender values to purchase paid-up term insurance for the full face amount of the policy

extended term insurance

What is the difference between a defined contribution plan and a defined benefit plan

the penalties for early distribution

A life-only agents records must include all of the following, except

printed material in general use which has been distributed by the insurer

A worker dies while he is credited with six quarters of the last 13 quarters period , what status does the worker have under social security

currently insured

A return of premium rider is a rider that

provides the periodic return of a percentage of the premiums that have been paid if the insured becomes and remains disabled

An angent appaointmet with an insurer will be discontinued if all of the following circumstances exist , except

another insurer submits an employment application

Social security provides protection against the financial consequences of al of the following except :

poor investments

Which retirement plan utilizes non-deductible contributions

Roth IRA’S

All of the occurrences listed below are examples of an isnruanble event defined by the CA insurance code , except:

an insured suffers a financial loss in the state lottery

The social security normal retirement age depends upon :

the workers year of birth

The complete transfer by the existing owner for al rights in an insurance policy to another person is :

absolute assignment

Which retirement plan was designed for employees of public school systems

TSA

Which settlement options allows only the death benefit earning to be paid to the beneficiary

intrest option

All of the following apply to the life inspection cost-of living rider except :

the face value of the policy raises if lowers as the cost of living index increases or decreases

The social security black out period ends when the surviving spouse reaches the age of :

Retirement benefits under social security are available only for workers who are :

fully insured

In which plans do employees make specific conribution to an employees retirement account

defined contribution plans

In a seven year vesting schedule , what percentage of employer contributions must be vested after 7 years of service

100%

A representation in an insurance contract qualified as which of the following

an implied warranty

A policy holder stops making payments on a 20-pay life policy and converts they cash surrender values to extended term insurance , all of the following stsments are true , except

the term policy will have the same loan value as the original policy

Which non-forfeiture option uses an existing policy’s cash value to purchase a paid-up policy with a lower face value than the original policy

reduced paid-up insurance option

What is required when an application reveals conditions that require more information

physical examination

Which risk classification carries the lowest permium

standard

Which statment best describes a life insurance policy dividend

it is distribution of excess of funds accumulated by the insurer on participating policies

issue a cease and desist order fro a violation of more than one transaction

If no other method of payment is selected , which of the following is the automatic mode of settlement for life insurance policy proceeds

lump sum settlement in cash

The process whereby a mutual insurer becomes a stock company is called :

demutualization

Any situation that presents the possibility of a loss is known as :

a loss exposure

Which settlement option allows only the death benefit earnings to be paid to the beneficiary

intrest option

An agent acting as an insurance agent , broker, solicitor , life-only , or bail agent acts in which capacity when handaling premiums for an insured

fidicuary

According to state law , what size print must be used for the licenses number on all price quotes , business cards and printed material

the same side print as the license phone number , fax , number or addresses

According to employee income security act of 1974 (ERISA) fiduciary standards benefit plans are operated for :

plan participants and beneficiaries

Life insurance settlement options include all of the following , except

extended term option

A life insurance application is important for all the following reasons, except:

The beneficiary must sign the application before the insurer will issue the policy

The price of insurance for each exposure unit is called the:

Rate

To authorize the release of an attending physicians report, the applicant must:

Sign a consent form

Yearly probabilities of death are shown in:

Mortality tables

Members of the Medical Information Bureau are required to report:

Medical impairments found during the underwriting process

When referring to an insurance contract, when must a representation be made?

Either at the time of or before policy issuance

Frank has the option of using his cash value to purchase a reduced amount of paid-up while life insurance

The request for an attending physicians report must be accompanied by a copy of the : s

singled authorization

Which life insurance classification carries the highest premium?

Substandard

A group insurance plan is contributory when the:

Employee pays part of the premium

Whose benefits are affected by the blackout period ?

The surviving spouse

Which of the following is not an option for the use of the policy dividends?

Fund the addition of the monthly income payments

Who are the owners/members of the Medical Information Bureau

Life insurance companies

After the deductible, what portion does the patient pay for covered expenses under Medical Part B?

20%

Which of the following functions is best defied as an insurance company’s identifying and selling the potential customers?

Marketing

What is called when an insurer uses higher rates based solely on religion, race, ethnic group ?

Unfair discrimination

A policy owner has the right to change all of the following, except:

The dividend schedule

When must insurance records for insurance agents brokers be made available to the insurance commissioner?

At all times

In a reinsurance agreement, the insurance company that transfers its loss exposure to another insurer is called:

Primary Insurer

Which type of insurance policy provides a death benefit that matches the projected outstanding debt on an individuals home?

Mortgage protection

What do we call the process whereby insurers decide which customers to insure, and what coverage to offer?

Underwriting

Which of the following is the best definition of premium?

Money the insured pays the insurer to obtain the benefits in the policy

$170,000

What rule is used to determine the importance of a representation

the materially of concealment

What is the difference between a conditional premium receipt and a binding premium receipt

only a binding receipt always provides insurance that is effective from the date the receipt is given

After a life insurance policy has been in effect for 2 years , what prevents it rom being rescind by the insurer

the incontestability clause

The black out period starts when the youngest child reaches the age of :

A person responsible for collecting of premium payments paid by the insured , which of the following staments is true concerning the total of premium paid by the end of the year :

is greater if paid semi-annually rather than annually

A disability income policy cover injury suffered by an insured on or off the job is called

an occupalational policy

Which 2 are activities of dally living

eating and dressing

Medicare Part A begins automatically at age :

The insured policy ha a deductible that is applied between the exhaustion of basic plan limits and the commencement of excess coverage , this is called

corridor deductible

A waiting period between the onset of disability and the time when benefits begin is the :

elimination period