Free Life Policy Provisions Options and Riders Practice Questions
California Life, Accident & Health exam (series Life, Accident & Health) — 111 practice questions.
Subtopics: Free look, Senior free look, Incontestability, Grace period, Lapse designee, Group life conversion, Death during grace period, Incontestability exception, Reinstatement contestability, Accelerated death benefit, Nonforfeiture values, Free-look refund, Free-look range, Variable free look, Senior citizen defined, Policy delivery, Delivery burden, Designee reminders, Grace period timing, Nonforfeiture, ADB not health, ADB payment options, ADB vs LTC, ADB LTC training, Illustrations, Cost comparisons, Replacement statements, Replacement notice, Sales materials, Conservation, Replacement penalties, Replacement exemptions, Replacement presumption, Replacement purpose, Standard provisions, Assignment, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Policy loans, Dividend options, Riders, Reinstatement, Incontestable clause, Suicide clause, Misstatement of age, Primary beneficiary, Irrevocable beneficiary, Minor beneficiary, Per capita, Estate as beneficiary, Dividend option cash, Dividend option reduce premium, Dividend option accumulate at interest, Dividend option one-year term, Joint and survivor settlement, Guaranteed insurability rider, Cost of living rider, Payor benefit rider, Return of premium rider, Child term rider, War exclusion, Aviation and avocation exclusions, Exclusions, Dividends, Accelerated benefits, Premium modes, Entire contract, Change of owner
Read the Life Policy Provisions Options and Riders study guide
Sample questions & answers
1. The standard free-look period for an individual California life policy is at least:
10 days
Section 10127.9 requires a return period of not less than 10 nor more than 30 days; buyers age 60 and older get 30 days under Section 10127.10.
2. An individual life or annuity policy issued to a California buyer age 60 or older must allow a free look of at least:
30 days
California extends the free look to 30 days for individual life and annuity policies sold to buyers age 60 and older.
3. A California life policy generally becomes incontestable after being in force during the insured's lifetime for:
2 years
After two years a California life policy is incontestable except for nonpayment of premium.
4. California individual life policies must provide a premium grace period of at least:
60 days
California requires a grace period of not less than 60 days on individual life policies.
All Life, Accident & Health topics
Practice: Life Policy Provisions Options and Riders
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
