California Life & Health Insurance

Which California state agency is the primary regulator of insurance companies and insurance producers in California?

• ACalifornia Department of Managed Health Care (DMHC)
• BCalifornia Department of Insurance (CDI)
• CCalifornia Department of Financial Protection and Innovation (DFPI)
• DCalifornia Health and Human Services Agency (CHHS)

How is the California Insurance Commissioner selected?

• AAppointed by the Governor with Senate confirmation
• BElected by California voters in a statewide election
• CAppointed by the state legislature
• DNominated by insurance industry representatives

What is the continuing education (CE) requirement for California life and health insurance producers per renewal period?

• A20 hours every 2 years
• B24 hours every 2 years
• C30 hours every 2 years
• D24 hours every year

Under California law, which of the following is required before an insurance producer can sell policies on behalf of an insurer?

• AThe producer must obtain a separate appointment from each insurer they represent
• BThe producer only needs a valid CDI license with no separate insurer appointment
• CThe producer must register with the National Association of Insurance Commissioners (NAIC)
• DThe insurer must submit a notarized sponsorship letter to the CDI

How often must a California insurance producer renew their license?

• AEvery year
• BEvery 2 years
• CEvery 3 years
• DEvery 4 years

Under California law, what is the minimum free-look period the insurer must allow on an individual life insurance policy issued to a buyer under age 60?

• A10 days
• B20 days
• C30 days
• D45 days

California law provides an extended examination (free-look) period for senior citizens who purchase individual life insurance or annuity contracts. How long is this senior free-look period?

• A15 days
• B30 days
• C45 days
• D60 days

Under California law, what is the incontestability period for a life insurance policy?

• A1 year from the date of issue
• B2 years from the date of issue
• C3 years from the date of issue
• D5 years from the date of issue

California's annuity suitability regulations require an insurance producer to do which of the following before recommending an annuity to a consumer?

• AObtain a credit report from a major credit bureau
• BGather detailed information about the consumer's financial situation, insurance needs, in…
• CRequire the consumer to attend a mandatory 4-hour annuity education seminar
• DObtain written approval from the consumer's financial advisor or attorney

An insurance producer in California recommends that a 72-year-old client replace her existing whole life policy with a new universal life policy. Under California's replacement rules, what must the producer do?

• ANothing beyond explaining the new policy verbally
• BPresent a 'Notice Regarding Replacement' signed by the applicant and the agent, leave it…
• CObtain written approval from the client's physician
• DNotify the California Attorney General's office

A California producer sells a deferred annuity with a surrender charge to a 68-year-old client. Under Insurance Code 10127.13, what must appear on the front of the policy jacket or the cover page?

• ANothing; surrender charge disclosure is optional
• BA bold 12-point notice showing where the surrender charge, the charge period, and any pen…
• CA physician's statement confirming the client's capacity
• DA list of the producer's commissions

According to CDI's Life Insurance Guide, a suicide clause reduces or eliminates the benefit if the insured dies by suicide within what period?

• A6 months from the date of issue
• B1 year from the date of issue
• CThe first two policy years
• DThere is no suicide exclusion in California