.png){kind=logo}
Final Exam: California Life, Accident,
and Health Insurance with complete solution
Question : Which of the following statements regarding a life
insurance policy dividend is TRUE?
Correct answer: It is the distribution of excess of funds
accumulated by the insurer on participating policies.
Question : Which of the following is NOT a characteristic of
reinsurance?
Correct answer: Increases the unearned premium reserve
Question : Which of the following is a contract that involves
one party which indemnifies another when a loss arises from an unknown event?
Correct answer: Insurance policy
Question : Manuel is considered to be a disabled person as
defined by the Americans with Disabilities Act (ADA). As
such, he is unable to perform any of the following life activities EXCEPT
Correct answer: Driving
Question : Which of the following is NOT a provision in a
disability income policy?
Correct answer: Deductible and coinsurance provision
Question : Which of these statements is NOT true concerning
recurrent disabilities?
Correct answer: The insurer continues coverage after a new
elimination period
Question : Kim is insured under a disability income insurance
policy with an "own-occupation" clause. She was recently injured in an automobile accident and can no longer perform the tasks of her job. Kim is now considered to be
Correct answer: totally disabled
Question : Which of these is NOT a relevant factor in the
health insurance principle of morbidity?
Correct answer: Intelligence
Question : Which of the following factors is NOT used in
underwriting health insurance policies?
Correct answer: Intelligence
Question : Which of the following is NOT a requirement of a
contract?
Correct answer: Equal consideration is required between the
involved parties
Question : Which of the following statements correctly
describes a contract of indemnity?
Correct answer: One party is restored to the same financial
position the party was in before the loss occurred
Question : Which of the following is NOT required in the
content of a policy?
Correct answer: Probability of loss
Question : Which statement is CORRECT when describing a
contract of adhesion?
Correct answer: Contract may be accepted or rejected by the
insured
Question : Which of the following is NOT an insurer policy
expense?
Correct answer: Premiums
Question : Which of the following does a policyowner NOT
have a right to change?
Correct answer: Dividend schedule
Question : Which of the following types of life insurance
combines a savings element along with a flexible premium option?
.png)