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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Health Insurance | 25% | - Disability income insurance - Health policy provisions and exclusions - Long-term care insurance - Medicare and Medicare supplements - Medical expense and major medical plans |
| Topic 2: Annuities and Retirement Plans | 10% | - Immediate and deferred annuities - Tax treatment and suitability - Fixed and variable annuities |
| Topic 3: Life Insurance | 35% | - Beneficiary designations and settlement options - Group life insurance - Policy provisions, riders, and options - Types of life insurance policies |
| Topic 4: General Insurance Concepts | 10% | - Insurance marketplace and regulation overview - Basic insurance principles and terminology - Insurance contract law and elements |
| Topic 5: California Insurance Code & Ethics | 20% | - Ethical standards and anti-fraud provisions - Policy delivery and replacement rules - State regulations and licensing rules - Unfair trade practices |
1. According to the California Insurance Code, an "insurance broker" is
A) authorized by an insurer to transact insurance.
B) employed to assist an insurance agent in transacting insurance.
C) hired by an insured to give advice about insurance transactions.
D) compensated for transacting insurance on behalf of another person with an insurer.
2. Regarding the Health Benefit Exchanges, as created by PPACA, all of the following statements are true EXCEPT
A) an individual may only receive a premium tax credit for a plan if purchased through the Exchange.
B) an individual enrolling in a bronze level plan is not eligible for reduced cost-sharing.
C) an individual whose household income is 400% of the federal poverty level may receive a premium tax credit.
D) the name of California's Exchange is Covered California.
3. According to California Insurance Code, which of the following MUST be specified in an insurance contract?
A) Additional coverages.
B) Insurer financial rating.
C) Risks insured against.
D) Policy exclusions.
4. What rights do individuals have if they disagree with a decision on the amount Medicare will pay?
A) They can ask the Medicare carrier to review the decision.
B) They can change Medicare carriers.
C) They can terminate making premium payments until the claim is resolved.
D) They can request a second opinion by the state medical examiner.
5. The theory of probability is applied to life insurance through the use of
A) the needs approach.
B) the human life value approach.
C) mortality tables.
D) morbidity tables.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: C |
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