Final Exam Ca Life, Accident, And Health Insurance Exam

How are the Roth IRA's treated fro tax purposes? {Ans: Non-deductible contributions and tax-free distributions}Any changes in background information that occur after a producer application has been submitted or a license has been issued MUST be reported to the Insurance Commissioner within {Ans: 30 days}Which of the following is NOT considered a definition of risk? {Ans: The cause of a loss}According to the California code governing claim settlement practices, which of the following is NOT considered to be an act of unfair discrimination? {Ans: Denial of claim based on reckless behavior}An insurance policy written after 1988 that fails to pass the seven-pay test is known as {Ans: a modified endowment contract}Which of the following is NOT protected under the California Life and Health Guarantee Association? {Ans: Insurers}Medicare Part B has an initial enrollment period. How many months after an individual's 65th birthday month does this enrollment period end? {Ans: 3 months}What area of group health insurance is regulated under the Employee Retirement Security Act of 1974 (ERISA)? {Ans: Disclosure and reporting}Which of these statements is NOT true concerning recurrent disabilities? {Ans: The insurer continues coverage after a new elimination period}Which of