Every number on the California Life & Health, with its source
38 exact values pulled out of the study guides and put in one place, each one carrying the statute, rule or standard it comes from. These are the figures the exam turns on and the ones people lose points to — the difference between 14 days and 21 days is a whole question.
38 values
Insurance Concepts and California Contract Law
| Definition of insurance | Ins. Code 22 |
| Insurable events | Ins. Code 250 |
| Concealment allows rescission | 331 |
| Need not volunteer | 333 |
| Materiality test | 334 |
| Own judgment | 339 |
| Representation vs express provision | 354 |
| Withdraw a representation | Before the insurance takes effect (355) |
| Policy definition and specifications | 380, 381 |
| Shall vs may | Mandatory vs permissive (16) |
The ACA, Covered California and Group Health
| Medi-Cal adults / children | 138% / 266% of FPL |
| Cost-sharing reductions | 138% - 250% of FPL |
| Premium tax credits | Up to 400% of FPL |
| Metal tiers | 60 / 70 / 80 / 90% |
| Dependent age | Through the 26th birthday |
| Medical loss ratio | 80% individual, 85% group |
| Small / large group | 2-100 / 101+ |
| COBRA | 20+ employees; 18 or 36 months |
| Cal-COBRA | 2-19 employees; up to 36 months total |
Medicare and Senior Health Products in California
| Legal resident eligibility | 5 years in the U.S. |
| SSDI eligibility | After 2 years of benefits |
| Part B initial enrollment | 7 months |
| Part B general enrollment | January 1 - March 31 |
| Part B late penalty | 10% per 12 months, for life |
| Part D late penalty | 1% per month, for life |
| Medigap open enrollment | 6 months from 65 + Part B (10192.11) |
| Birthday rule | 60+ days, equal or lesser benefits (10192.11(h)) |
| Medigap commission cap | First year ≤ 200% of second (10192.16) |
California Licensing, Regulation and Ethics
| Transacting without a license | Up to $50,000 and/or 1 year (1633) |
| Address change | Immediately (1729) |
| CE per renewal | 24 hours, 3 ethics, 1 fraud (1749.33) |
| Annuity training | 8 hours initial, 4 each renewal (1749.8) |
| Commissioner | Elected, 4-year term, 2 terms (12900) |
| Unfair practice penalty | $5,000 per act, $10,000 willful (790.035) |
| Nonadmitted insurer agent | Misdemeanor + $500 + $100/month (703) |
| CLHIGA life | 80% or $300,000 death / $100,000 cash value (1067.02) |
| Claim decision | 40 days after proof (10 CCR 2695.7) |
| Senior home meeting notice | 24 hours to 14 days before (789.10) |