Life, Accident, And Health Insurance Exam 200 Questions And Answers
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Terms in this set
200
Paul has an existing annuity and is sold a new one, in which the new policy holds no greater financial benefit to him than the existing contract. This is considered a(n)
a. unnecessary replacement
b. deferred annuity
c. illegal transaction
d. immidiate annuity
a. unnecessary replacement
b. deferred annuity
c. illegal transaction
d. immidiate annuity
unnecessary replacement
Key Person Disability Insurance pays benefits to the
a. employer
b. hospital
c. employee's creditors
d. employee
a. employer
b. hospital
c. employee's creditors
d. employee
employer
Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss.
a. 60
b. 10
c. 31
d. 20
a. 60
b. 10
c. 31
d. 20
20
Jim is applying to become an insurance agent and has a past misdemeanor conviction that was later expunged due to California Penal Code 1203.4. Which of the following statements is correct?
a. Jim must still disclose the conviction on his insurance license application
b. Jim is not required to disclose the conviction on his insurance license application
c. Only expunged felonies are required to be reported on an insurance license application
d. Only convictions that have been expunged within the last 3 years need to be reported on an insurance license application
a. Jim must still disclose the conviction on his insurance license application
b. Jim is not required to disclose the conviction on his insurance license application
c. Only expunged felonies are required to be reported on an insurance license application
d. Only convictions that have been expunged within the last 3 years need to be reported on an insurance license application
Jim must still disclose the conviction on his insurance license application
What determines the Social Security normal retirement age?
a. Number of dependents
b. Year in which worker was born
c. Worker's average lifetime income
d. Number of quarters emplyed
a. Number of dependents
b. Year in which worker was born
c. Worker's average lifetime income
d. Number of quarters emplyed
Year in which worker was born
Which of these is affected by the frequency of an insurance policy's premium payments?
a. Cost
b. Settlement options
c. Cash value
d. Death Benefit
a. Cost
b. Settlement options
c. Cash value
d. Death Benefit
Cost
Which type of worker has Social Security benefits available to them?
a. Currently insured
b. Partially insured
c. Presently insured
d. Fully insured
a. Currently insured
b. Partially insured
c. Presently insured
d. Fully insured
Fully insured
Erica is 35 years old and owns an IRA. At what age can she begin to receive distributions without a tax penalty?
a. 59 1/2
b. 62
c. 55
d. 70 1/2
a. 59 1/2
b. 62
c. 55
d. 70 1/2
59 1/2
In an insurance contract, the insurer is the only party legally obligated to perform. Because of this, an insurance contract is considered
a. Aleatory
b. Voidable
c. Unilateral
d. Conditional
a. Aleatory
b. Voidable
c. Unilateral
d. Conditional
Unilateral
Key person insurance is intended to
a. cover business losses due to the death of a key employee
b. help retain key employees by offering added benefits
c. allow a key person to purchase the business
d. give premium-grade benefits to key employees
a. cover business losses due to the death of a key employee
b. help retain key employees by offering added benefits
c. allow a key person to purchase the business
d. give premium-grade benefits to key employees
cover business losses due to the death of a key employee