1. Exam Prep
  2. California
  3. Life-Only Agent
  4. Life Policy Provisions Options and Riders

Free Life Policy Provisions Options and Riders Practice Questions

California Life-Only Agent exam (series Life-Only) — 44 practice questions.

Subtopics: Free look standard, Senior free look, Incontestability, Grace period, Lapse notice designee, Entire contract, Misstatement of age, Reinstatement, Ownership, Assignment, Collateral assignment, Suicide clause, Beneficiary primary, Contingent beneficiary, Revocable beneficiary, Irrevocable beneficiary, Per stirpes, Common disaster, Spendthrift clause, Settlement lump sum, Interest only, Life income option, Fixed period option, Fixed amount option, Cash surrender, Reduced paid-up, Extended term, Automatic premium loan, Policy loan, Partial withdrawal, Dividends not guaranteed, Paid-up additions, Accumulation at interest, Reduction of premium, Waiver of premium, Payor benefit, Accidental death rider, Guaranteed insurability, Cost of living rider, Long-term care rider, Spouse and child riders, Aviation exclusion, War exclusion, Retained asset account

Sample questions & answers

1. The standard right-to-examine (free look) period for an individual life policy in California is at least:

10 days

California requires at least a 10-day free look on individual life policies, extended to 30 days for buyers age 60 and older.

2. An individual life or annuity policy sold to a California buyer age 60 or older must provide a free-look period of at least:

30 days

California extends the free-look period to 30 days for individual life and annuity policies issued to buyers age 60 and older.

3. A California individual life policy generally becomes incontestable after it has been 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 individual life policies to provide a grace period of not less than 60 days.

All Life-Only Agent topics

Practice: Life Policy Provisions Options and Riders

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

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 Pennsylvania Insurance Department and the exam administrator before relying on it.