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California Life Accident and Health Exam Practice 2024/2025 already graded A+
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California Life Accident and Health Exam Practice 2024/2025 already graded A+
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California Life Accident and Health ExamPractice
A
ABC INSURANCE - ANSJOHN IS THE AGENT FOR ABC INSURANCE AND JANE IS THE
INSURED. WHO IS THE PRINCIPAL IN THIS AGENCY RELATIONSHIP?
A
ABC INSURANCE
B
JOHN
C
JANE
D
NONE
D
ADMITTED - ANSA(N) ________ INSURER IS AUTHORIZED TO WRITE INSURANCE
POLICIES IN A PARTICULAR STATE.
A
DOMESTIC
B
NON-ADMITTED
C
FOREIGN
D
ADMITTED
B
A PERSON WHO NEGOTIATES INSURANCE CONTRACTS ON BEHALF OF AN INSURED -
ANSWHICH OF THE FOLLOWING IS CLASSIFIED AS AN INSURANCE BROKER?
A
A PERSON WHO PLACES COVERAGE FOR HIS/HER OWN INSURANCE
B
A PERSON WHO NEGOTIATES INSURANCE CONTRACTS ON BEHALF OF AN INSURED
C
A PERSON IN THE HOME OFFICE WHO DOES NOT SOLICIT OUTSIDE OF THE OFFICE
D
AN EMPLOYEE WHO NEGOTIATES INSURANCE CONTRACTS FOR HIS/HER EMPLOYER
C
,EACH PARTY IS ENTITLED TO RELY UPON THE REPRESENTATIONS OF THE OTHER
THAT THERE IS NOTHING CONCEALED OR DISHONEST - ANSTHE INSURANCE
CONTRACT IS SAID TO BE A CONTRACT OF UTMOST GOOD FAITH, BECAUSE:
A
CONCEALMENT OF KNOWN FACTS ON THE PART OF THE INSURED WILL VOID THE
CONTRACT
B
THE INSURER HAS DRAWN UP THE CONTRACT AND, THEREFORE, THERE IS NO
INTENT TO DECEIVE
C
EACH PARTY IS ENTITLED TO RELY UPON THE REPRESENTATIONS OF THE OTHER
THAT THERE IS NOTHING CONCEALED OR DISHONEST
D
THE INSURED MUST WARRANT THAT HIS/HER REPRESENTATIONS ARE TRUE
A
THE INSURED IS RESTORED TO THE SAME FINANCIAL CONDITION AS PRIOR TO THE
LOSS, WITH NO INTENT OF LOSS OR GAIN - ANSWHICH OF THE FOLLOWING BEST
DESCRIBES A CONTRACT OF INDEMNITY UNDER INSURANCE?
A
THE INSURED IS RESTORED TO THE SAME FINANCIAL CONDITION AS PRIOR TO THE
LOSS, WITH NO INTENT OF LOSS OR GAIN
B
THE INSURED INDEMNIFIES THE INSURER FOR ANY EXPENSES IN ADJUSTING THE
LOSS
C
THE INSURED SUSTAINS A LOSS AS A RESULT OF THE LOSS
D
SURPLUS - ANSTHE INSURED IS RESTORED TO A FINANCIAL CONDITION AS GOOD AS,
OR BETTER THAN, THE INSURED WAS BEFORE THE LOSS
___________ INSURANCE IS USED TO PROVIDE COVERAGE WHEN INSURANCE IS NOT
AVAILABLE FROM AN ADMITTED CARRIER.
A
FACULTATIVE
B
DOMESTIC
C
ALIEN
D
SURPLUS
C
PURE RISK - ANSWHICH OF THE FOLLOWING RISKS IS PROTECTED BY INSURANCE?
,A
CERTAIN RISK
B
SPECULATIVE RISK
C
PURE RISK
D
INVOLUNTARY RISK
A
WHEN ONE TAKES ACTION TO MINIMIZE THE SEVERITY OF A POTENTIAL LOSS - ANSA
GOOD EXAMPLE OF RISK REDUCTION MIGHT BE:
A
WHEN ONE TAKES ACTION TO MINIMIZE THE SEVERITY OF A POTENTIAL LOSS
B
THE ELIMINATION OF THE EXPOSURE TO A SPECIFIC RISK
C
THE TRANSFER OF THE RISK TO AN INSURANCE COMPANY
D
INSURING ONLY THOSE RISKS THAT THREATEN THE FINANCIAL STABILITY OF THE
INSURED
B
ADMITTED - ANSAN INSURER THAT IS AUTHORIZED TO DO BUSINESS IN A PARTICULAR
STATE IS SAID TO BE:
A
NON-ADMITTED
B
ADMITTED
C
DOMESTIC
D
FOREIGN
C
STOCK - ANSWHICH INSURER'S OWNER RECEIVES TAXABLE CORPORATE DIVIDENDS
AS A RETURN OF PROFIT?
A
MUTUAL
B
RECIPROCAL
C
STOCK
D
, FRATERNAL
B
ACCORDING TO THE LAW OF LARGE NUMBERS - ANSIN INSURANCE, WHEN THE
NUMBER OF SIMILAR UNITS INCREASE, THE PREDICTABILITY OF THE LOSS IMPROVES:
A
BECAUSE OF THE SIMILARITY OF UNITS IN LARGE QUANTITIES
B
ACCORDING TO THE LAW OF LARGE NUMBERS
C
BECAUSE OF ACCUMULATED EXPERIENCE
D
ACCORDING TO THE LAW OF AVERAGES
A
A UNILATERAL CONTRACT - ANSA CONTRACT WHEREBY ONLY ONE PARTY IS BOUND
TO FUTURE PERFORMANCE, IS SAID TO BE:
A
A UNILATERAL CONTRACT
B
A BILATERAL CONTRACT
C
A CONDITIONAL CONTRACT
D
AN ALEATORY CONTRACT
A
CAL-GLBA - ANSTHE CALIFORNIA FINANCIAL INFORMATION PRIVACY ACT IS
SOMETIMES KNOWN AS:
A
CAL-GLBA
B
CA-FIPA
C
CA-HIPAA
D
CA-FCRA
B
INSURER - ANSIN CALIFORNIA, ANY PERSON THAT MANUFACTURES AND SELLS
INSURANCE COVERAGE BY WAY OF INSURANCE POLICIES OR CONTRACTS MAY BE
AN:
A
INSURED
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