Life Insurance Practice Questions — Page 5 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.
- 201.In a life insurance policy, the "consideration" that makes the contract enforceable consists of:Difficulty 1/5
- 202.If a policyowner borrows against the cash value of a life policy and the loan, with interest, is unpaid at …Difficulty 2/5
- 203.A policyowner misstated the insured's age at application, and the insurer discovers the error after the con…Difficulty 2/5
- 204.The specifications page (schedule page) of a life insurance policy typically contains which information?Difficulty 1/5
- 205.When a policyowner chooses to pay premiums monthly instead of annually, the premium payment mode refers to:Difficulty 1/5
- 206.What is the purpose of the specifications (policy data) page of a life insurance policy?Difficulty 1/5
- 207.A beneficiary wants the death benefit paid out in installments that will continue for the rest of the benef…Difficulty 1/5
- 208.In a life insurance contract, the consideration given by the policyowner consists of:Difficulty 1/5
- 209.A beneficiary chooses a settlement option that will pay income for as long as the beneficiary lives, with p…Difficulty 2/5
- 210.The key difference between a revocable and an irrevocable beneficiary designation is that:Difficulty 2/5
- 211.A policyowner with a whole life policy stops paying premiums during the grace period. If the policy include…Difficulty 2/5
- 212.When a policyowner borrows against a life insurance policy, the loan is:Difficulty 2/5
- 213.Why does the insurer ask the insured to sign a delivery receipt when a life insurance policy is delivered?Difficulty 1/5
- 214.Under which settlement option does the beneficiary receive payments consisting only of the interest earned …Difficulty 1/5
- 215.If a whole life policy lapses with sufficient cash value and the policyowner has made no nonforfeiture elec…Difficulty 2/5
- 216.Which statement about a policy loan on a whole life policy is correct?Difficulty 2/5
- 217.An insured's age is misstated on a life insurance application, and the insurer discovers the error after th…Difficulty 2/5
- 218.A life insurance policy was issued with no settlement option elected by the policyowner. After the insured …Difficulty 1/5
- 219.An automatic premium loan (APL) provision in a life insurance policy:Difficulty 2/5
- 220.The cash surrender value of a whole life insurance policy is generally determined by:Difficulty 2/5
- 221.A life insurance policy contains a common disaster (survivorship) clause. The insured and the primary benef…Difficulty 3/5
- 222.The insured selects a settlement option that pays the beneficiary a specific sum each month until the death…Difficulty 2/5
- 223.A policyowner borrows money from a life insurer using the policy as security. The loan is secured by:Difficulty 2/5
- 224.Under a fixed-period settlement option, the beneficiary receives:Difficulty 2/5
- 225.An applicant is a recreational private pilot. The insurer issues the policy with an aviation (hazardous avo…Difficulty 2/5
- 226.A spendthrift clause in a life insurance policy:Difficulty 1/5
- 227.Under a life income settlement option, the beneficiary:Difficulty 1/5
- 228.An automatic premium loan (APL) provision allows the insurer to:Difficulty 2/5
- 229.A policyowner of a participating whole life policy instructs the insurer to keep the annual dividends with …Difficulty 1/5
- 230.A beneficiary who chooses the "life income" settlement option will receive:Difficulty 2/5
- 231.The Needs approach to determining how much life insurance a client should buy focuses on:Difficulty 2/5
- 232.The insuring clause of a life insurance policy is the provision that:Difficulty 1/5
- 233.A life insurance policy is issued with an aviation exclusion endorsement because the insured flies private …Difficulty 2/5
- 234.Under an interest-only settlement option, the insurer:Difficulty 1/5
- 235.A common disaster (simultaneous death) provision in a life insurance policy typically states that if the in…Difficulty 2/5
- 236.A participating policyowner wants each annual dividend to buy additional paid-up insurance coverage. This d…Difficulty 2/5
- 237.The consideration clause of a life insurance policy states that the contract is issued in exchange for:Difficulty 1/5
- 238.A beneficiary chooses to receive the death benefit in installments of exactly $1,000 per month until the pr…Difficulty 2/5
- 239.A policy names the insured's three children as equal beneficiaries. One child has died leaving two children…Difficulty 2/5
- 240.A policyowner stops paying premiums, has not taken a paid-up policy, and makes no nonforfeiture election. I…Difficulty 3/5
- 241.Under the extended term nonforfeiture option, the net cash value of a lapsed whole life policy is used to:Difficulty 2/5
- 242.A small manufacturer insures its founder, whose death would cause serious financial loss to the company. Th…Difficulty 2/5
- 243.A policyowner names her children as beneficiaries with the designation my children, per stirpes. At the ins…Difficulty 2/5
- 244.Under an interest-only settlement option, the insurer:Difficulty 2/5
- 245.An insured with an in-force life policy takes up private airplane flying, and the insurer responds by addin…Difficulty 2/5
- 246.Which of the following causes of death is most likely to be excluded or restricted under a life insurance p…Difficulty 2/5
- 247.Under an interest-only settlement option, the insurer:Difficulty 1/5
- 248.A settlement option that pays the beneficiary income for as long as the beneficiary lives, with payments ce…Difficulty 2/5
- 249.A policyowner elects the paid-up additions dividend option on a participating policy. The dividends will be…Difficulty 2/5
- 250.When a beneficiary designation states that the death benefit is to be divided 'per stirpes,' the proceeds are:Difficulty 1/5