Life Insurance Practice Questions — Page 12 of 13
639 free life insurance questions for the California Life & Health insurance license exam. Pick any question — answer it and get the full 3-part explanation, no signup required.
- 551.A guaranteed minimum withdrawal benefit (GMWB) rider is designed to:Difficulty 2/5
- 552.If the insured dies while committing a felony, a life insurance policy with a standard illegal-activity exc…Difficulty 1/5
- 553.Under the Social Security disability program, a worker is generally considered fully insured when they have…Difficulty 2/5
- 554.After underwriting review, the home-office underwriter may do all of the following EXCEPT:Difficulty 3/5
- 555.A no-lapse guarantee feature on a universal life policy:Difficulty 2/5
- 556.A guaranteed minimum withdrawal benefit (GMWB) rider on a life or annuity product guarantees that the owner:Difficulty 2/5
- 557.A surviving spouse is the beneficiary of a $250,000 life insurance death benefit. She wants a dependable in…Difficulty 2/5
- 558.A guaranteed minimum withdrawal benefit (GMWB) rider associated with a variable insurance product guarantees:Difficulty 3/5
- 559.In life insurance underwriting, a 'standard' risk classification means the applicant:Difficulty 1/5
- 560.A business owner decides to accept the risk that a key employee may die rather than purchase life insurance…Difficulty 1/5
- 561.A waiver of premium rider on a life insurance policy provides that:Difficulty 1/5
- 562.An employer pays the premiums on a life insurance policy owned by a key employee, and the premium amount is…Difficulty 2/5
- 563.An accidental death benefit (double indemnity) rider pays:Difficulty 1/5
- 564.An employer wants to fund a promise to pay an executive supplemental retirement income after the executive …Difficulty 2/5
- 565.A partnership wants its business to keep paying an income to the family of a deceased partner for a period …Difficulty 2/5
- 566.The guaranteed insurability (guaranteed purchase option) rider allows the policyowner to:Difficulty 2/5
- 567.A business owner wants a valued employee's surviving family members to receive income after the employee's …Difficulty 2/5
- 568.Under a typical deferred compensation arrangement funded with life insurance, which party owns the policy a…Difficulty 2/5
- 569.Which statement about the death benefit of a traditional variable life insurance policy is correct?Difficulty 2/5
- 570.A wage earner buys life insurance so that, if death occurs prematurely, the financial burden on the family …Difficulty 1/5
- 571.A whole life policy includes a rider that, if the insured dies, pays the family a monthly income until a sp…Difficulty 2/5
- 572.What is the maximum face amount for a funeral or burial insurance policy?Difficulty 1/5
- 573.A family policy is best described as:Difficulty 1/5
- 574.Which statement correctly describes credit life insurance?Difficulty 2/5
- 575.Two spouses purchase a life insurance policy that pays the death benefit when the first spouse dies. This p…Difficulty 2/5
- 576.A client wants lifetime coverage at the lowest possible level premium and is willing to accept little or no…Difficulty 2/5
- 577.Two business partners purchase a joint life insurance policy so that when one partner dies, the surviving p…Difficulty 2/5
- 578.A 20-year level term policy provides:Difficulty 1/5
- 579.A family income rider added to a whole life policy provides the insured's survivors with what type of benef…Difficulty 2/5
- 580.An applicant asks whether a binder can provide temporary life insurance coverage while the application is p…Difficulty 2/5
- 581.Under a 20-pay life policy, when are the premiums fully paid?Difficulty 1/5
- 582.Under most life insurance contracts, when does the information in the application become part of the policy…Difficulty 2/5
- 583.A modified whole life policy is best described as a policy in which:Difficulty 2/5
- 584.Which feature distinguishes guaranteed universal life (GUL) from standard universal life insurance?Difficulty 2/5
- 585.Which statement correctly describes a nonparticipating life insurance policy?Difficulty 2/5
- 586.Which statement about life insurance policy forms is correct?Difficulty 1/5
- 587.A settlement in which a terminally ill insured sells an existing life insurance policy for a lump sum that …Difficulty 2/5
- 588.Which information is typically shown on the specification page of a life insurance policy?Difficulty 1/5
- 589.Which of the following is NOT typically found on the policy specifications (data) page of a life insurance …Difficulty 1/5
- 590.A policyowner borrows money from a bank and assigns the life insurance policy to the bank as security for t…Difficulty 2/5
- 591.A policyowner fails to pay a premium on time and lets the grace period expire. The whole life policy has ca…Difficulty 2/5
- 592.A policyowner borrows the maximum amount available from the cash value of a whole life policy. Which conseq…Difficulty 2/5
- 593.A policyowner transfers all rights in a life insurance policy to another person. This transfer is called:Difficulty 2/5
- 594.A beneficiary chooses to receive death proceeds as equal payments of a fixed amount until the proceeds and …Difficulty 2/5
- 595.A policyowner whose whole life policy lapses chooses the reduced paid-up nonforfeiture option. Which statem…Difficulty 2/5
- 596.What is the primary advantage to a beneficiary of choosing a life income settlement option rather than a lu…Difficulty 2/5
- 597.A beneficiary selects a life income settlement option with a 10-year period certain. What does the benefici…Difficulty 2/5
- 598.A policyowner of a participating whole life policy elects to apply policy dividends toward lowering the nex…Difficulty 1/5
- 599.A life insurance policy contains a war exclusion. If the insured dies while serving in combat, the insurer …Difficulty 1/5
- 600.Under the paid-up additions dividend option, each year's dividend is used to:Difficulty 2/5