Life Insurance Practice Questions — Page 7 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.
- 301.A life insurance policy with a standard aviation exclusion generally covers death while:Difficulty 1/5
- 302.A life insurance policy contains an aviation exclusion clause. Which of the following deaths would most lik…Difficulty 2/5
- 303.An employer pays the full premium for $100,000 of group term life insurance on an employee. For federal inc…Difficulty 2/5
- 304.An applicant works in a high-risk occupation. The insurer issues the policy but attaches an endorsement exc…Difficulty 2/5
- 305.In a noncontributory group life insurance plan, which statement is correct?Difficulty 2/5
- 306.In a group life insurance plan, the contract of insurance is issued to the:Difficulty 1/5
- 307.If the insured dies while committing a felony, a life insurance policy that contains an illegal activity ex…Difficulty 1/5
- 308.A life insurance policy excludes a hazardous avocation, such as skydiving, through a special endorsement. I…Difficulty 2/5
- 309.An insured takes up a hazardous avocation, such as skydiving, after the policy was issued. Under a typical …Difficulty 1/5
- 310.A beneficiary receives a life insurance death benefit in a single lump-sum payment. Under the Internal Reve…Difficulty 1/5
- 311.In group life insurance, the employer receives the group contract and each covered employee receives a docu…Difficulty 1/5
- 312.A client wants life insurance that matches a declining mortgage balance, with the death benefit shrinking a…Difficulty 1/5
- 313.A policyowner withdraws cash from a life insurance policy's cash value, taking out more than the policy's c…Difficulty 3/5
- 314.In a contributory group life insurance plan, the employees pay part of the premium. Which statement is corr…Difficulty 2/5
- 315.An insured takes up skydiving after the policy was issued, and the insurer adds a hazardous avocation exclu…Difficulty 3/5
- 316.In a group life insurance plan, the master policy is issued to the employer and each covered employee recei…Difficulty 1/5
- 317.A policyowner takes a loan from the cash value of a non-MEC whole life policy. For federal income tax purpo…Difficulty 2/5
- 318.In group life insurance, the master contract is issued to:Difficulty 1/5
- 319.An employer pays the entire premium for a $75,000 group term life policy on an employee. For federal income…Difficulty 2/5
- 320.In a noncontributory group life insurance plan, participation is required of:Difficulty 1/5
- 321.Under IRC Section 79, group term life insurance provided by an employer is taxable to the employee:Difficulty 2/5
- 322.Under the federal income tax rules for life insurance, a death benefit paid as a lump sum to a beneficiary …Difficulty 1/5
- 323.Life insurance death proceeds received by a beneficiary in a lump sum are generally:Difficulty 1/5
- 324.A renewable term insurance policy allows the insured to:Difficulty 1/5
- 325.In a contributory group life insurance plan, the:Difficulty 1/5
- 326.How is a life insurance death benefit paid as a lump sum to a named beneficiary treated for federal income …Difficulty 1/5
- 327.Which task is an administrative responsibility of the employer as policyholder under a group life insurance…Difficulty 2/5
- 328.Under IRC §79, employer-paid group term life insurance coverage up to which amount is generally excluded fr…Difficulty 2/5
- 329.Under a typical group life insurance plan, which responsibility belongs to the employer as policyholder?Difficulty 2/5
- 330.A life insurance policy becomes a modified endowment contract (MEC) under IRC Section 7702. Which statement…Difficulty 3/5
- 331.A beneficiary elects to leave the life insurance death proceeds with the insurer and receive them under a s…Difficulty 1/5
- 332.Which statement correctly distinguishes contributory from noncontributory group life insurance?Difficulty 2/5
- 333.A death benefit of $200,000 is paid to a beneficiary in 20 equal annual installments. For federal income ta…Difficulty 2/5
- 334.A policyowner surrenders a whole life policy and receives a cash surrender value that exceeds the total pre…Difficulty 3/5
- 335.A distinguishing feature of universal life insurance is that it:Difficulty 2/5
- 336.A policyowner exchanges an existing life insurance policy for a new life insurance policy with different co…Difficulty 2/5
- 337.An employer pays the entire premium on $80,000 of group term life insurance for an employee. For federal in…Difficulty 3/5
- 338.An annuitant invests $100,000 (cost basis) in an annuity contract with an expected total return of $500,000…Difficulty 3/5
- 339.In a group life insurance plan, which document does an individual covered employee typically receive?Difficulty 1/5
- 340.In a group life insurance plan, the master contract is issued to:Difficulty 1/5
- 341.As the policyholder of a group life insurance plan, the employer is generally responsible for all of the fo…Difficulty 1/5
- 342.An employer pays the entire premium for $90,000 of group term life insurance on a 45-year-old employee. Und…Difficulty 2/5
- 343.In group life insurance, which statement is correct?Difficulty 1/5
- 344.Because the cash values in a variable life insurance policy are invested in separate accounts whose perform…Difficulty 2/5
- 345.Which of the following exchanges qualifies for tax-free treatment under IRC §1035?Difficulty 3/5
- 346.A policyowner surrenders a life insurance policy for its cash value of $25,000 after having paid $20,000 in…Difficulty 2/5
- 347.An employer provides group term life insurance to employees and pays the entire premium. Under IRC §79, how…Difficulty 2/5
- 348.Which statement correctly distinguishes a contributory from a noncontributory group life plan?Difficulty 2/5
- 349.A policy is funded with premiums that exceed what a seven-pay whole life contract would require, causing it…Difficulty 3/5
- 350.What distinguishes a contributory group life insurance plan from a noncontributory plan?Difficulty 2/5